US Defense Secretary Austin warns of devastating consequences in potential Taiwan conflict with China.

US Defense Secretary Lloyd Austin warned that a war over Taiwan would have "devastating" effects on the global economy. Austin made the remark at the Shangri-La Dialogue security summit in Singapore, attended by representatives from dozens of Asian countries. Officials from China were also present at the dialogue. The US has made commitments to Taipei under the Taiwan Relations Act and warned the Chinese Communist Party about making any attempts to change the status quo in the region.