CHINA FRONT
India's counter to China in high altitude areas: DRDO unveils light battle tank Zorawar
The Defence Research and Development Organisation (DRDO) conducted successful trials of its light battle tank Zorawar in Hazira, Gujarat. Expected to join the Indian Army by 2027 after completion of all trials, the tank is designed in collaboration with Larsen and Toubro (L&T). It integrates lessons from conflicts like the Russia-Ukraine war and is tailored for high-altitude operations in Ladakh.
China's Xi Jinping greets EU Council president ahead of EV tariffs taking effect
China's President Xi Jinping conveyed his congratulations to incoming European Council President Antonio Costa, emphasizing the importance of China-EU relations. This comes ahead of the European Commission's decision to impose tariffs of up to 37.6% on Chinese electric vehicles (EVs), citing state subsidies benefiting Chinese firms. Xi reaffirmed China's commitment to its partnership with the EU, rejecting accusations of unfair subsidies on Chinese EVs. The EU faces internal divisions over supporting these tariffs, with Germany leaning towards opposing them due to significant automotive sales in China, while France supports them firmly.
China builds new presidential palace in Pacific's Vanuatu
Australia's Lowy Institute think tank estimated China had spent upwards of $21 million on construction, a significant sum for an aid project in the developing nation of less than 300,000 people. China's embassy said the project had gifted Vanuatu "another landmark building", while symbolising a new "milestone" in their increasingly warm relationship.
Chinese troops are going to stay at the disputed site along India border for longer period: US Report
China-India Border Tensions: Amid global focus on Ukraine, Gaza, and the South China Sea, tensions on the China-India border remain significant. Reports from the US Army War College and the US Annual Threat Assessment highlight the People's Liberation Army's (PLA) strategic positioning and infrastructure development along the Line of Actual Control (LAC) in Aksai Chin. These developments indicate a prolonged readiness for potential conflict, underscoring the importance of ongoing diplomatic efforts.
Poised along the Indian border, Chinese troops are there for the long haul
The Strategic Studies Institute of the US Army War College published an in-depth report examining PLA activity along the mountainous border in Aksai Chin opposite India in 2020-21. It considered how the PLA rapidly moved troops into the region as violence flared between Chinese and Indian troops in Galwan Valley on 15-16 June 2020. However, Blasko, a former US defence attache in Beijing and Hong Kong, also provided a useful assessment of current and future conditions along the Line of Actual Control (LAC).
China's Xi calls for 'bridges' amid trade, diplomatic frictions
Chinese President Xi Jinping has called for the building of "bridges" in the global economy as Beijing grapples with economic, trade, and territorial disputes with neighbours and trading partners. He emphasized that the world's second-largest economy will never leave the road of peaceful development and will not become a "strong" state seeking to dominate others.
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Xi says China planning 'major' reforms ahead of key political meeting
Chinese President Xi Jinping said Friday the ruling Communist Party was planning and implementing "major" reforms, ahead of a closely watched political conclave that is expected to put economic recovery high on the agenda. Xi said in a speech on Friday policymakers "are planning and implementing major measures to further deepen reform in a comprehensive manner".
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
Industry insiders say both Europe and China have reasons for wanting to strike a deal in the months ahead to de-escalate tensions and avoid the addition of billions of dollars in new costs for Chinese EV makers, as the EU process allows for review.
View: Four years since Galwan Valley clash, India’s template to deal with China holds
The G7, in a recent meeting in Italy, shifted its focus towards China, urging Beijing to stop transferring dual-use materials to Russia for its defense sector. This move marks a significant shift in the conversation surrounding the Indo-Pacific and Ukraine. Xi Jinping's firm stance and China's role as a common link in global affairs have come under scrutiny. The article highlights India's response to Chinese aggression in Ladakh post-Galwan clash, leading to a strategic shift in its policies.
China's central bank leaves key policy rate unchanged as expected
China's central bank kept the medium-term lending facility (MLF) rate unchanged at 2.50%, aligning with market expectations. The decision reflects concerns over narrowing bank profit margins and a weakening yuan. The unchanged MLF rate, which influences loan prime rates, indicates limited room for easing monetary policy amidst internal and external economic pressures.
Germany says 'serious movement' needed from China in EV tariff row
Chancellor Olaf Scholz's government is pushing for what it calls an "amicable" solution after the European Union threatened to impose swingeing anti-subsidy tariffs to shield European automakers from competition.
Third term for Modi likely to see closer defense ties with US as India's rivalry with China grows
Prime Minister Narendra Modi emphasizes on boosting India's military preparedness and clout, focusing on expanding defense production and exports to counter China's influence in the Indo-Pacific region.
China risks trade war on two fronts as low-tech exports soar, too
Rising trade tensions as the EU, US, and potentially Canada impose tariffs on Chinese electric vehicles, are impacting global trade dynamics.
Election Result 2024: US is okay, even with a Modi lite 3.0
Under President Biden, the US views Modi's third term positively, despite a reduced mandate. The India-US partnership has strengthened, addressing issues with skill and paving the way for new possibilities. Biden sees India as a reliable partner and a stabilizing force in the Indo-Pacific region. India's economic growth and infrastructure improvements under Modi are acknowledged, making it an attractive business destination. However, concerns remain about shared values, especially regarding BJP's stance on minorities. Overall, the US-India relationship is expected to remain strong, focusing on strategic cooperation and economic growth.
China is ‘bizarrely unwilling’ to boost demand, Paul Krugman says
Nobel laureate Paul Krugman criticised China's reliance on production over consumer demand, warning of global consequences. Chinese economist Li Daokui called for increased central government debt to drive growth. Krugman questions Japan's panic over a weak yen, while emphasizing the need for rate cuts.
Will US get involved in a potential China-Taiwan conflict? Will it confront PLA in Taiwan Strait?
Many US lawmakers have expressed concern regarding a potential conflict between China and Taiwan. This may force the US to get involved.
Why a sub-300 seat Modi in 2024 suits the West
India’s refusal to toe the Western line on Russia and Iran has irked the US and its allies who believe a more modest winning margin for Narendra Modi in 2024 would best serve the West’s interests
Xi Jinping says China wants to work with Arab states to resolve hot spot issues
Chinese President Xi Jinping expressed China's commitment to collaborating with Arab nations to address regional conflicts while upholding fairness, justice, and promoting long-term peace. Emphasising the importance of a "two-state solution" in the Gaza crisis, Xi urged for mutual respect, fairness, and justice as the foundation for lasting security. China pledged humanitarian aid and support for post-war reconstruction in Gaza.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
Xi Jinping exposes cracks in China's governance model
President Vladimir Putin emphasized Russia and China's commitment to a more democratic multipolar world order during his visit to China. Critics point to Xi Jinping's concentration of power, erosion of norms, and struggles in maintaining control over the PLA, raising concerns about China's governance model.
China warns of Taiwan 'war' as military drills encircle island
On the second day of exercises, warships and fighter jets surrounded Taiwan in what Beijing described as a test of its capability to seize the island, following the inauguration of its new president. China's military initiated the two-day war games on Thursday, deploying naval vessels and military aircraft to encircle democratic Taiwan, affirming its determination that the blood of "independence forces" on the island would be shed.
China says drills around Taiwan test 'seizure of power' capability
On Friday, China announced that its ongoing military drills encircling Taiwan were intended to test the ability to seize control of the self-ruled island. These exercises, codenamed "Joint Sword-2024A," follow the inauguration of Taiwan's new president, Lai Ching-te, whose pro-independence stance Beijing strongly opposes. The two-day drills involve naval vessels and military aircraft and are part of China's increasing military intimidation of Taiwan. The United Nations and the United States have called for restraint, while Beijing has vowed to severely punish "Taiwan independence" forces.
China’s $8.5 billion in steel spurs Latin America toward tariffs
Mexico, Chile, and Brazil have increased duties on steel products from China. In some cases, the duties have more than doubled over the past few weeks. Colombia may also be planning to do the same.
Ukraine's divisive mobilisation law comes into force as a new Russian push strains front-line troops
A new mobilisation law in Ukraine has sparked controversy as it aims to boost troop numbers amidst Russia's offensive. The law provides incentives for soldiers but has raised concerns about its impact on businesses and essential services. Ukrainian forces are under strain, prompting measures to replenish depleted ranks. Volunteers are joining the fight, but draft dodging and fleeing the country are also occurring. The conflict has led to casualties and displacement, with Ukraine seeking international support to defend against Russian advances.
Cribbing or happy about gold’s record-breaking rally? China is front and center of gold price surge
Gold has surged to record highs above $2,400 an ounce in 2024, with China at the forefront of the remarkable ascent. Geopolitical tensions and lower US interest rates have bolstered gold's appeal as an investment. Chinese demand, spanning retail shoppers to the central bank, continues to drive the rally.
Why maintaining ASML equipment is the new front in US-China chip war
ASML dominates the market for lithography tools - huge expensive, complex machines that perform one step in the chipmaking process, helping to create circuitry.
To compete with China on economic front, India must focus on manufacturing: Jaishankar
Jaishankar stresses India's shift towards manufacturing to rival China. Emphasizes technology and counter-terrorism. Highlights India's global collaborations post-COVID-19, including strengthened ties with UAE and agreements with various countries for mobility opportunities.
Mind games would be played: Jaishankar on China's approach towards bilateral ties
Jaishankar highlighted the challenge of maintaining equilibrium in India-China relations, emphasizing China's departure from agreed norms triggering border tensions in Ladakh. He cautioned against China's attempt to limit issues to bilateral frameworks and stressed India's right to leverage global factors for a better balance. On the economic front, he noted projections suggesting both countries could become $50 trillion economies by 2075. Jaishankar urged India to confidently navigate the international system to achieve the best outcomes, acknowledging occasional tensions between the two countries.
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