US will fear China's nuclear threat – Global Times
The US will fear China's nuclear weapons development program, warned the highly influential Chinese media outlet, Global Times, in its editorial on Wednesday.
Global Times Editor-in-Chief, Hu Xijin, said, “The rapid deterioration of Sino-US relations and US ‘all-out pressure on China as its No. 1 strategic adversary has triggered a sense of urgency among many Chinese to accelerate efforts to improve our nuclear deterrence.”
This comes after the New York Times quoted nuclear weapons experts from the Federation of American Scientists on Monday, saying that China has built a new silo for launching nuclear missiles in the Hami prefecture of Northwest China's Xinjiang Uygur Autonomous Region.
Market reaction
AUD/USD has pared gains to now trade flat at 0.7359, as the Chinese stocks have opened in the red once again.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
