Nauru

China's Foreign Ministry said Wednesday that Beijing has formally restored diplomatic relations with Nauru after the tiny Pacific island nation cut its ties with Taiwan earlier this month. Nauru's announcement on Jan. 15 came just two days after Taiwan elected a new president and left the self-governing island republic with just 12 remaining diplomatic allies, although it enjoys strong unofficial relations with the United States, Japan and other nations. China claims Taiwan as its territory and doesn't recognize its government or its right to diplomatic recognition, participation in global bodies such as the United Nations or any official contact with foreign political entities. This policy change is a significant first step in moving forward with Nauru's development, Nauru's government said in a news release announcing the severing of relations with Taiwan. China has been gradually poaching Taiwan's diplomatic allies, partly to punish the ruling Democratic Progressive Party that .

Nauru applied for membership in the Washington-based IMF and World Bank in April 2014, after joining the United Nations in 1996