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Geoeconomics

SOUTH ASIA

INDIA:

  • India will begin full-scale operations in its first foreign port venture at Iran’s Chabahar, a facility that opens on the Gulf of Oman that will aim to facilitate more South Asia, Central Asia and West Asia trade. It represents a clear and potent commercial challenge to China’s massive port investment in neighboring Pakistan’s Gwadar, a key component of Beijing’s Belt and Road Initiative (BRI).

SOURCE: TEHRAN TIMES


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what is happening in geoeconomics?

WHAT IS HAPPENING IN GEOECONOMICS?

MARCH 2021

ASIA PACIFIC:

Sino-Federation
  • China would accelerate free-trade negotiations with Japan and South Korea.
  • The United States, Japan, India and Australia will work together to secure rare earth metals as part of efforts to counterbalance China’s growing economic power.
  • The so-called “Quad” -United States, India, Australia and Japan- agreed to pool financing, manufacturing and distribution capacity to send coronavirus vaccines across Asia, to counter China’s growing vaccination diplomacy in Southeast Asia.
  • Chinese investment in Australia plummeted 61% in 2020 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.
  • India and Japan signed agreements for crucial infrastructure projects. It is being perceived as significant in terms of the commitment by India and Japan to work for a free and stable Indo-Pacific.

EURASIA:

  • Russian Foreign Minister Sergei Lavrov visited China with a call for Moscow and Beijing to reduce their dependence on the U.S. dollar and Western payment systems.
  • Energy deals are creating a powerful alliance between China and Russia. To highlight this pivot, Gazprom has started a feasibility study for a pipeline through Mongolia towards its northeast.
  • Relations of China with the five Central Asian state – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenis​​tan and Uzbekistan- are witnessing an impressive growth, as they have emerged as vitally important for diversifying China’s domestic energy mix.
  • Turkey’s foreign minister visited Turkmenistan and Uzbekistan searching for cooperation especially in matters related to energy, trade corridors, transportation and defense.
  • Russia Highlights Northern Sea Route’s potential after week-long shutdown of the Suez Canal.

SOUTH ASIA:

  • The U.S. and the European Union has suspended all engagement with Myanmar, in response to last month’s military coup.
  • Pakistan is considering resuming trade with India, in the latest sign that tensions are easing between the two nations, after their recently commitment to respect a 2003 ceasefire agreement along a disputed border.
  • Pakistan is offering access to Gwadar port, a strategic component in China’s Belt and Road Initiative (BRI), to landlocked Central Asian countries in the hope of stimulating activity at the idle facility. 
  • Pakistan offer Sri Lanka to join its multibillion-dollar trade and infrastructure scheme with China under Beijing’s Belt and Road Initiative, raising concerns in Indian policy circles, as New Delhi seeks to secure its influence in a region where China’s presence is growing.
  • Sri Lanka agreed with China to strengthen mutually beneficial bilateral cooperation in all fields, amid the China´s willing to work with Sri Lanka to enhance Belt and Road cooperation.
  • India will continue to work on connectivity projects that would support Afghanistan economically, backing a US-proposed process to secure political settlement for the war torn nation.
  • India is planning to cut oil imports from Saudi Arabia after calls from India to increase crude production were ignored by OPEC.

MIDDLE EAST:

Middle_East_(orthographic_projection)
  • Iran and China signed a economic cooperation agreement, which included Chinese investments in projects ranging from nuclear energy, ports, railroads, and investment in Iran’s oil-and-gas industry. In return, China would receive steady supplies of Iranian oil.
  • The Biden administration will enforce Trump-era sanctions against Iranian oil as shipments from the regime to China have soared.
  • Bahrain agreed with China to strengthen their relationship according the China-proposed Belt and Road Initiative.
  • China is seeking greater development of the China-Oman strategic partnership, to boost bilateral cooperation in trade, investment, 5G, and information technology.

EUROPE:

  • U.S. Secretary of State Antony Blinken warned that the Nord Stream 2 pipeline being built from Russia to Germany is against the European Union’s own interests and threatened Berlin of possible sanctions over the project.

AFRICA:

1200px-Africa_(orthographic_projection).svg
  • Ethiopia signed with China an agreement expected to play an important role in strengthening the security and normal functioning of Chinese investments in Ethiopia, establishing security safeguarding mechanism for major projects under BRI in the African country.

LATIN AMERICA:

  • The Venezuelan government accused the United States of organizing attacks on energy facilities in Venezuela, after A gas plant belonging to the state-run oil and gas company Petroleos de Venezuela (PDVSA) was targeted by a terrorist attack.

POLES:

  • China confirmed its interest in further developing the Polar Silk Road as a component of the wider Belt and Road Initiative, while calling for further engagement with both the Arctic Ocean region and Antarctica.

 

brian

 

 By Bernardo Foster/

 International Relations Analyst

 

SOURCES:

THE HINDUSTAN TIMES – BLOOMBERG – ARAB NEWS – REUTERS – AL JAZEERA – BBC – NIKKEI – THE DIPLOMAT – ANADOLU AGENCY – 112 – THE WEEK IN – NEFTEGAZ RU – RT – SHAFAQ.COM – OIL PRICE – INTELINEWS – STRAIT TIMES – SOUTH CHINA MORNING POST – ANADOLU AGENCY – JERUSALEM POST – BLOOMBERG – RFE/RL – THE ARAB WEEKLY – POLANDIN – MIDDLE EAST MONITOR – EN PEOPLE – SPUTNIK – WALL STREET JOURNAL – SPUTNIK – ALARABIYA NEWS – VIETNAM PLUS – THE DIPLOMAT – MINT – PEOPLE´S DAILY ONLINE – COLOMBO PAGE

LINKS:

http://en.people.cn/n3/2021/0330/c90000-9834148.html

http://en.people.cn/n3/2021/0330/c90000-9834063.html

http://www.colombopage.com/archive_21A/Mar29_1617033362CH.php

https://www.hindustantimes.com/world-news/india-japan-sign-agreements-for-loans-grant-worth-232-86-billion-yen-101616763749456.html

https://www.bloomberg.com/news/articles/2021-03-24/china-s-new-belt-and-road-has-less-concrete-more-blockchain?srnd=businessweek-v2

https://www.wsj.com/articles/china-buys-more-iranian-and-venezuelan-oil-in-a-test-for-biden-11616146203

https://www.reuters.com/article/us-usa-asia-vaccines-idUSKBN2B42F4

https://www.aljazeera.com/economy/2021/3/5/bb-chinawantsto-boost-trade-with-us-allies-no-mention-of-us-deal

https://www.reuters.com/article/us-usa-biden-quad/with-eye-on-china-quad-nations-to-tie-up-in-rare-earths-nikkei-idUSKBN2B314N?rpc=401&

https://www.bbc.co.uk/news/business-56234776

https://asia.nikkei.com/Politics/International-relations/Russia-s-Lavrov-starts-China-visit-with-call-to-cut-US-dollar-use

https://thediplomat.com/2021/03/the-polar-policies-in-chinas-new-five-year-plan/

https://www.aa.com.tr/en/asia-pacific/turkey-visits-to-uzbekistan-turkmenistan-beneficial/2170943

https://112.international/russia/us-introduced-sanctions-against-russian-institutions-involved-in-nerve-agent-development-59455.html

https://www.theweek.in/news/world/2021/03/05/china-to-push-for-building-polar-silk-road-in-arctic-ocean.html

https://neftegazru.com/analisis/energy_policy/635131-energy-deals-are-creating-a-powerful-alliance-between-china-and-russia/

https://www.aljazeera.com/news/2021/3/23/india-pakistan-hold-water-sharing-talks-amid-thaw-in-frozen-ties

https://asia.nikkei.com/Spotlight/Belt-and-Road/Pakistan-promotes-Belt-and-Road-port-for-Central-Asian-trade

https://www.rt.com/business/518324-india-saudi-oil-import-cut/

https://shafaq.com/en/Economy/Iraq-is-India-s-top-biggest-oil-supplier-February-data

https://oilprice.com/Energy/Energy-General/China-Ramps-Up-Oil-Imports-From-Iran.html

https://www.intellinews.com/pakistan-offers-uzbekistan-access-to-karachi-gwadar-ports-205119/

https://www.straitstimes.com/asia/se-asia/asia-rebuffs-us-sanctions-on-myanmar-giving-generals-lifeline

https://www.scmp.com/week-asia/politics/article/3123851/pakistans-belt-and-road-offer-sri-lanka-stokes-indias-china

https://www.aa.com.tr/en/asia-pacific/india-china-rivalry-shifts-to-vaccine-diplomacy/2160364

https://www.reuters.com/article/us-myanmar-politics-eu/eu-suspends-development-funds-for-myanmar-after-army-coup-idUSKBN2AW1EX?rpc=401&

https://neftegazru.com/analisis/economy/658988-russia-annual-oil-production-at-lowest-level-since-2011/

https://www.reuters.com/article/us-health-coronavirus-india-vaccine/india-seeks-funds-from-quad-alliance-to-match-chinas-vaccine-push-source-idUSKBN2B00PS?rpc=401&

https://thediplomat.com/2021/03/us-suspends-trade-and-investment-agreement-with-myanmar/

https://www.livemint.com/news/world/india-to-continue-work-on-projects-aiding-afghanistan-s-economy-s-jaishankar-11617103514954.html

https://www.straitstimes.com/asia/south-asia/pakistan-is-considering-resumption-of-trade-ties-with-rival-india

https://www.reuters.com/article/india-oil/india-asks-refiners-to-diversify-cut-reliance-on-middle-east-oil-after-opec-decision-idUSKBN2B117P?rpc=401&

https://www.jpost.com/international/china-iran-expected-to-sign-25-year-accord-iranian-state-media-says-663324

https://www.bnnbloomberg.ca/iranian-oil-surge-to-china-hurts-opec-efforts-to-tighten-supply-1.1577520

https://www.bnnbloomberg.ca/iran-taps-old-asian-oil-customers-while-eying-return-of-exports-1.1571439

https://www.rferl.org/a/blinken-warns-germany-possible-sanctions-nord-stream-2/31165231.html

https://thearabweekly.com/turkey-tries-block-israel-greece-eu-undersea-cable

https://polandin.com/52727545/nord-stream-2-threatens-strategic-position-of-poland-and-ukraine-us-official

https://www.middleeastmonitor.com/20210311-france-joins-east-mediterranean-gas-forum/

http://en.people.cn/n3/2021/0303/c90000-9824062.html

https://english.alarabiya.net/News/world/2021/03/27/Biden-suggests-initiative-plan-to-rival-China-s-trillion-dollar-Belt-and-Road-

https://sputniknews.com/latam/202103211082407746-venezuelan-oil-minister-says-terrorist-attack-targets-pdvsa-gas-plant-in-monagas/

https://www.wsj.com/articles/iran-china-sign-economic-security-agreement-challenging-u-s-pressure-11616866936

https://sputniknews.com/world/202103291082478319-russia-highlights-northern-sea-routes-potential-after-suez-canal-mishap/

https://en.vietnamplus.vn/japan-indonesia-bolster-cooperation-under-indopacific-strategy/198316.vnp

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Geoeconomics

EURASIA

ARCTIC:

  • Russia Highlights Northern Sea Route’s potential after week-long shutdown of the Suez Canal. The Northern Sea Route (NSR), which runs along Russia’s Arctic coast, dramatically slashes journey times for goods shipped from Asia to Europe and has a huge potential to ramp up cargo traffic, the Russian Ministry of Energy said. According to the ministry, given the growing global energy trade, including in LNG, the emergence of additional short shipping routes is becoming a matter of time.

SOURCE: SPUTNIK


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INDO PACIFIC:

INDIA-JAPAN:

  • India and Japan signed agreements for loans and a grant worth a total of $2.11 billion for crucial infrastructure projects, including Tokyo’s first-ever aid for a project in the strategic Andaman and Nicobar Islands. It is being perceived as significant in terms of the commitment by India and Japan to work for a free and stable Indo-Pacific.

SOURCE: THE HINDUSTAN TIMES


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SOUTH ASIA

AFGHANISTAN:

  • The administration of U.S. President Joe Biden is looking to keep the U.S. troops in Afghanistan past May 1 deadline while exploring a deal in which the Taliban would allow a U.S. counter-terrorism force to remain as they confront their Islamic State foes. The Taliban has been fighting Islamic State’s local affiliate, and the U.S. airstrikes on ISIS have proved critical to helping them rout their rivals.

SOURCE: CGTN


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SOUTH ASIA

INDIA-PAKISTAN:

  • India and Pakistan are holding their first meeting in three years of a commission on water rights from the Indus River in a further sign of rapprochement in relations frozen since 2019 during disputes over Kashmir. The talks are the latest in both nations’ tentative efforts to re-engage after a 2019 suicide bomb in Indian-administered Kashmir that New Delhi blamed on Pakistan-based attackers and India’s move later that year to strip the disputed region of its constitutional autonomy.

SOURCE: AL JAZEERA


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SOUTH ASIA

PAKISTAN:

  • Pakistan is offering access to Gwadar port, a strategic component in China’s Belt and Road Initiative (BRI), to landlocked Central Asian countries in the hope of stimulating activity at the idle facility. The proposed line will reduce freight transport costs between Central Asia and Pakistan by about a third. Uzbekistan is also considering a second route through China to access Pakistani ports.

SOURCE: NIKKEI


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EUROPE

EASTERN MEDITERRANEAN:

  • Turkish Armed Forces (TSK) and the U.S. military are expected to carry out some comprehensive training to increase interoperability in the Eastern Mediterranean. Turkey is at loggerheads with EU members Greece and the Greek Cypriot administration over energy resources in disputed waters in the Eastern Mediterranean.

SOURCE: NAVY RECOGNITION


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EUROPE:

EASTERN MEDITERRANEAN:

  • Turkey has told Israel, Greece and the European Union to seek its permission before assuming work on a projected undersea power cable in disputed eastern Mediterranean waters. Cyprus, Israel and Greece last week signed an initial agreement on laying the world’s longest undersea power cable linking their electricity grids. But the proposed link is set to run through contested waters at the centre of last year’s tensions between Turkey and Greece linked to Ankara’s search for natural gas.

SOURCE: THE ARAB WEEKLY


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SOUTH ASIA

INDO PACIFIC:

  • British Prime Minister Boris Johnson will be visiting India, at a time when the U.K. is seeking to recalibrate its strategic footprint and focusing on the Indo-Pacific following its exit from the European Union. News agency Reuters has noted Johnson’s office as stating that the Indo-Pacific “tilt” is part of a new Integrated Review of defense and strategic policy. It seemed that in the Johnson government’s mind there is a Britain’s return to the “east of Suez”, that must be matched with deeper ties with India. Another sources remarked that BRITAIN wants to expand its influence among countries in the Indo-Pacific region to try to moderate China’s global dominance.

SOURCES: THE DIPLOMAT EASTERN EYE


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