China opposes U.S. deployment of mid-range-capability missiles in Philippines

Chinese Foreign Ministry on Thursday reaffirmed its stance of opposing the U.S. deployment of mid-range-capability missiles in the Philippines.

Mao Ning, the spokeswoman of the ministry, made the statement when answering a media query about the case that the U.S. military recently has relocated its Typhon launchers, capable of firing multipurpose missiles with a range of up to thousands of kilometers, from Laoag Airfield in the Philippines to another location on the Luzon Island.

"On the U.S. deployment of Mid-Range Capability missile system in the Philippines, China has made clear its opposition more than once. I want to stress once again that introducing such strategic and offensive weapons into the region is a highly dangerous move. It will escalate regional tensions and divisions, provoke geopolitical confrontation, and fuel an arms race. This is an extremely irresponsible choice for the security of both the Philippines and the people of Southeast Asia. We once again urge the Philippines to heed the voices of countries in the region and their people, correct this mistake as soon as possible, fulfill the previous public commitment to promptly withdraw the Typhoon Mid-Range Capability missile system, and refrain from continuing further down the wrong path," said Mao.

The U.S. Federal Reserve on Wednesday decided to lower the target range for the federal funds interest rate by 25 basis points to 3.5 to 3.75 percent, marking its third rate cut this year.

The latest move was widely anticipated, making it the third rate cut in a row since the Federal Open Market Committee monetary policy meeting in September.

"Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment rose in recent months," the Fed said in a statement.

The statement also noted moderate economic expansion, a higher unemployment rate, elevated inflation and more recent indicators consistent with those developments.