Taiwan president condemns China's 'dollar diplomacy' as Solomon Islands switches allegiance to Beijing

Taiwan President Tsai Ing-wen on Monday condemned China's "dollar diplomacy" to squeeze the self-ruled island's international space after the Solomon Islands switched allegiance to Beijing.

Tsai told reporters in Taipei that Beijing is forcing Taiwan to accept "one country, two systems" under its one-China policy, but that the island won't bow to Chinese pressure.

Self-ruled Taiwan has formal relations with only 16 countries worldwide, but China claims Taiwan as its territory and says it has no right to formal ties with any nation.

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