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Geoeconomics

EURASIA

RUSSIA:

  • Russia is turning to Chinese firms to help accelerate the production of its Sputnik V coronavirus vaccine. Over the last couple of weeks, Russia made three deals with Chinese firms in connection with 260 million doses.

SOURCE: DW


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EUROPE

GERMANY:

  • German Foreign Minister Heiko Maas said he is opposed to new sanctions on Russia.   Many EU member states would like to normalise relations with Russia, including Germany, which has been the willing participant in the Nord Stream 2 gas pipeline project and has just closed a deal to buy 30mn Sputnik V coronavirus (COVID-19) vaccine doses. 

SOURCE: ITELLINEWS


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SOUTH ASIA

INDIA:

  • President Joe Biden met growing calls in India to provide aid regarding Covid-19. The U.S. action was seen as coming too late for an administration that has sought to elevate the Quad security (partnership that also includes Japan and Australia). With the U.S. dragging its feet in offering India help to combat the world’s worst virus crisis, China is moving to drive a wedge between the democratic security partners.

SOURCE: BNN BLOOMBERG


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ASIA PACIFIC

CHINA:

  • China’s top economic planner (the National Development and Reform Commission) has warned that the impact of Covid-19 and increased political risks in countries taking part in the Belt and Road Initiative are among the main challenges the multibillion-dollar project faces in the next five years. It identified changes to global governance and trade systems, the ongoing rivalry between China and the US, and growth in emerging markets as the most important factors affecting the project. Moreover, “some BRI countries have long term high geopolitical risks and certain regions have seen an escalation in conflict,” the report said.

SOURCE: SOUTH CHINA MORNING POST


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ASIA PACIFIC

CHINA:

  • China is trying to reshape its pharmaceutical industry and take on an unprecedented role as a major vaccine supplier to the rest of the world in light of the ongoing Covid-19 pandemic. By March, more than 100 million doses had been exported, about the same as the combined exports from India and the European Union. The growth in production means China will have a better chance of increasing its influence among developing countries which will look to it, along with India and Russia.

SOURCE: SOUTH CHINA MORNING POST


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ASIA PACIFIC

CHINA:

  • Saudi Arabia, the world’s biggest oil exporter, retained its position as China’s top supplier in the first two months this year. The kingdom beat Russia to keep its ranking as China’s top crude supplier in 2020 despite unprecedented production cuts in a pact between the OPEC and its allies to balance global markets after demand plunged during the COVID-19 pandemic.

SOURCES: REUTERS


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SOUTH ASIA:

INDIA:

  • India has urged the United States, Japan and Australia to invest in its vaccine production capacity, as the so-called Quad alliance tries to counter China’s growing vaccine diplomacy. Beijing has committed to provide at least 463 million doses of its home-made COVID-19 vaccines through exports and donations across the world from Asia to Africa, Europe and Latin America.

SOURCE: REUTERS


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AFRICA:

AFRICA:

  • As the COVID-19 pandemic is worsening the debt crisis in many African countries, China is offering African borrowers debt restructuring to help them survive the crisis. “Chinese banks offered African countries significant debt restructuring before the pandemic and have continued to do so,”

SOURCE: EN PEOPLE


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ASIA PACIFIC:

CHINA-AUSTRALIA DIPLOMATIC RIFT:

  • Chinese investment in Australia plummeted 61% in 2020, the lowest number in six years. The drop in investment comes amid a growing diplomatic rift between the two countries, since Australia first called for a rigorous investigation into the origins of the Covid-19 pandemic and in response China has imposed tariffs or trading restrictions on Australian goods.

SOURCE: BBC


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SOUTH ASIA:

INDIA-CHINA VACCINE DIPLOMACY:

  • India and China -that have disengaged frontline troops from their borders, putting an end to tensions in the region- have shifted their rivalries to a different field – seeking political influence through vaccine diplomacy. Since India produces 60% of global vaccines, it is trying to match China to use it as a diplomatic tool to expand influence in the neighborhood and beyond. The COVID-19 vaccine has emerged as an important form of diplomatic currency globally for the nations to showcase their soft power gains.

SOURCE: ANADOLU AGENCY


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