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China fires missiles near Taiwan, Democrats’ bill would reduce deficits and crypto has another hack.

China fired 11 missiles into the sea around Taiwan on Thursday in response to US House Speaker Nancy Pelosi’s visit, even as Taipei played down the impact on flights and shipping. Pelosi’s trip left a fuming White House scrambling for a plan. The Biden administration is lobbying Democratic senators to put the brakes on a bill that would alter US policy toward Taiwan, including by designating it as a major non-NATO ally, according to people familiar with the matter. China said it called off a face-to-face meeting between Foreign Minister Wang Yi and his Japanese counterpart over a G-7 statement expressing concern about Beijing’s “threatening actions” around Taiwan.