China's war chest: how Beijing has rearranged the diplomatic pieces ahead of a potential conflict

In diplomatic terms, China could be said to have already won its battle against Taiwan. Most of the world's governments - including the US - formally agree with the Chinese Communist party's (CCP) position that there is just one China, of which the People's Republic of China is the sole government. The tension lies in the fact that the CCP regards Taiwan, a self-governing, democratic island of 23 million people, as part of that one China. On Sunday Li Shangfu, China's defence minister, said that China "will not tolerate" attempts to separate Taiwan from China, after refusing to meet his…