'No more dollar diplomacy,' says Tsai as Honduras cuts ties

Taipei, March 26 (CNA) President Tsai Ing-wen (蔡英文) said Sunday Taiwan would "not engage in a meaningless contest of dollar diplomacy with China" following Honduras' announcement it had cut ties with Taipei in favor of Beijing.

"For many years, we have upheld the belief that working within the full extent of our capabilities, and by taking a forward-looking and pragmatic approach, we can support the long-term, substantive development of our diplomatic allies," Tsai said in a video published shortly after Honduras' diplomatic switch.

The president vowed to "not engage in a meaningless contest of dollar diplomacy with China," adding that Taiwan would "stand with our diplomatic allies and like-minded global partners as we work toward a better future for all."

Following her administration's loss of a ninth diplomatic ally since 2016, Tsai said Beijing had "persistently used any and all means to suppress Taiwan's international participation."

Tsai said that despite China intensifying its military intimidation of Taiwan, "pressure and coercion will not change the fact that the Republic of China and the People's Republic of China are not subordinate to each other."

The president underlined that Beijing's attempts to disrupt regional peace and stability "cannot erode the Taiwanese people's staunch commitment to freedom and democracy."

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The Presidential Office released on Sunday afternoon a translation of the president's remarks as follows:

My fellow citizens:

Good morning.

It is with deep regret that today we end our diplomatic relations with Honduras.

For many years, we have upheld the belief that working within the full extent of our capabilities, and by taking a forward-looking and pragmatic approach, we can support the long-term, substantive development of our diplomatic allies. We will not engage in a meaningless contest of dollar diplomacy with China.

These past few years, China has persistently used any and all means to suppress Taiwan's international participation, intensify its military intimidations against Taiwan, and disrupt regional peace and stability.

But its pressure and coercion will not change the fact that the Republic of China and the People's Republic of China are not subordinate to each other. And they cannot erode the Taiwanese people's staunch commitment to freedom and democracy or our determination to engage wholeheartedly with the world.

The people of Taiwan have proven to the world that we do not give in to threats. Taiwan's connections and cooperation with our diplomatic allies and like-minded countries, and our joint efforts to advance international security and well-being, will only expand and grow stronger.

We will continue to stand with our diplomatic allies and like-minded global partners as we work toward a better future for all.

(End of the remarks)