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Geoeconomics

NORTH AMERICA

UNITED STATES:

  • US President Joe Biden has suggested -in a call with British Prime Minister Boris Johnson-founding an initiative from “democratic” countries to rival China’s trillion-dollar Belt and Road infrastructure initiative as tensions spike between the Asian power and Western nations. The European Union, Britain, Canada and the US sanctioned several members of Xinjiang’s political and economic hierarchy in coordinated action over the rights allegations, prompting retaliation from Beijing in the form of sanctions on individuals from the EU and UK.

SOURCE: ALARABIYA NEWS


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ASIA PACIFIC

INDO-PACIFIC:

  • The Pentagon recently asked Congress for an astronomical $27 billion budget increase to support a massive military buildup in Asia as part of its new Indo-Pacific plan, which calls for a substantially more aggressive military stance against China. The US already have more than 290 military bases in the Asia-Pacific region alone.

SOURCE: COUNTER PUNCH


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MIDDLE EAST

IRAN-CHINA:

  • Iran and China signed a wide-ranging security and economic cooperation agreement, defying U.S. attempts to isolate Iran and advancing Tehran’s longstanding efforts to deepen diplomatic ties outside Western powers. The agreement included Chinese investments in projects ranging from nuclear energy, ports, railroads and other infrastructure to transfer of military technology and investment in Iran’s oil-and-gas industry. In return, China would receive steady supplies of Iranian oil.

SOURCE: WALL STREET JOURNAL


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MIDDLE EAST:

IRAN-CHINA:

  • Chinese Foreign Minister Wang Yi arrived in Iran for a visit that Iranian state media said would see the signing of a 25-year cooperation agreement between the two countries, which are both under US sanctions. The accord is expected to include Chinese investments in Iran’s key sectors such as energy and infrastructure.

SOURCE: JERUSALEM POST


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ASIA PACIFIC:

SOUTH CHINA SEA:

  • Twenty Chinese military aircraft entered Taiwan’s air defence identification zone, in the largest incursion by the Chinese air force since Taiwan’s defence ministry began disclosing almost daily Chinese military flights over the waters between the southern part of Taiwan and the Taiwan-controlled Pratas Islands in the South China Sea last year.

SOURCE: THE GUARDIAN


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EURASIA

RUSSIA-CHINA:

  • The foreign ministers of both China and Russia have condemned Western sanctions against them over human rights and accused the US of political interference. Lavrov said Russia and China both viewed the US as seeking to rely on Cold War military alliances to undermine the “international legal architecture.”

SOURCE: DW

 


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EURASIA

RUSSIA-CHINA:

  • Russian Foreign Minister Sergei Lavrov began a visit to China with a call for Moscow and Beijing to reduce their dependence on the U.S. dollar and Western payment systems to push back against what he called the West’s ideological agenda. Lavrov said Moscow and Beijing were compelled to develop independently of Washington in order to thwart what he said were U.S. attempts to curb their technological development.

SOURCE: NIKKEI

 


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EURASIA:

CRIMEA:

  • The Group of Seven major industrialized countries issued a strong condemnation of what it called Russia’s ongoing “occupation” of the Crimea, seven years after Moscow annexed the peninsula from Ukraine. They call on the Russian Federation “to stop fueling the conflict by providing financial and military support to the armed formations it backs in eastern Ukraine. The seven countries said. “Russia’s attempts to legitimize it are not, and will not, be recognized.”

SOURCE: ABC NEWS


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ASIA PACIFIC:

QUAD:

  • The United States, Japan, India and Australia will work together to secure rare earth metals that are essential to the production of electric car motors and other products. The four-nation group, referred to as the “Quad” countries, are due to hold an online summit meeting seen as part of efforts to counterbalance China’s growing economic (and military) power.

SOURCE: REUTERS


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ASIA PACIFIC:

SOUTH KOREA:

  • South Korea singed with United States a new pact that “reaffirmed the need for a stable presence of US troops in Korea”. Washington stations around 28,500 troops in South Korea to defend it from the nuclear-armed North Korea, which invaded the South in 1950, and protect US interests in northeast Asia.

SOURCE: RAW STORY


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