Economic
US: Telecom operators agree to 5G delay in U-turn decision
Two major US telecom operators, AT&T and Verizon, agreed on Jan 03 evening to a further two-week delay to a planned rollout of 5G networks across the country. The decision followed a request by Transportation Secretary Pete Buttigieg on behalf of aviation companies that were worried about the interference of 5G signals on aircraft safety devices. The two companies had previously rejected the request after having already delayed their launch by a month. "We've agreed to a two-week delay which promises the certainty of bringing this nation our game-changing 5G network in January," Verizon said in a statement after talks with government officials and the Federal Aviation Authority (FAA). Buttigieg and FAA chief Stephen Dickson wrote to Verizon and AT&T on Dec 31 asking them to hold off on their nationwide launch for a maximum of two weeks. The move was triggered by concerns of "unacceptable disruption" to flights due to possible interference from 5G signals. The C-band frequency used by 5G is close to that used by altimeter devices on planes that measure the aircraft's altitude. Click here to read...
RCEP's fruits come with challenge of keeping China in check
With the Regional Comprehensive Economic Partnership agreement taking effect Jan 01, Japan and other member nations expect to revitalize the pandemic-hit economy through free trade in the economic bloc, regarded as the world's largest, covering about a third of the global economy. An outlook on its impact on Japan's economy is particularly rosy, some analysis suggested. At the same time, however, Japan will face difficulties keeping China's growing influence in the region in check, while its ally the United States remains at odds with China over human rights and other issues. "Japan would benefit the most from RCEP tariff concessions, largely because of trade diversion effects," a recent report published by the U.N. Conference on Trade and Development pointed out. The 15-member RCEP was signed on Nov. 15, 2020, coming into force following ratification by at least six member states of the Association of Southeast Asian Nations and three non-ASEAN economies. It incorporates Japan's first economic partnership agreement with China and South Korea, the two main destinations of its exports in Asia. RCEP, seen as turning the region into "a new center of gravity for global trade," is expected to ultimately eliminate tariffs on over 90 percent of goods traded within the bloc comprised of economies of various sizes and at different stages of development. Click here to read...
China and Russia team up to establish joint moon base
China and Russia plan to set up a joint moon base by 2027, eight years earlier than originally planned. The joint moon base, called the International Lunar Research Station (ILRS), will be a complex of experimental research facilities designed for multiple scientific activities, such as moon exploration, moon-based observation, research experiments and technology verification. Presently, China’s lunar presence includes the Chang’e 4 Lander and the Yutu 2 rover, whose arrival in 2019 marked humanity’s first landings on the dark side of the moon. China and Russia’s joint moon base plans can be seen as a response to their exclusion from the US Artemis Accords, which aims to establish principles, guidelines and best practices for space exploration for the US and its partners. China is barred from participating in joint projects with the US in space by the Wolf Amendment, a 2011 measure prohibiting NASA from cooperating with China without special approval from Congress.As a result, China is forced to be self-reliant in its space program. Illustrating this is the fact that China is barred from joining the International Space Station (ISS), but it is in the process of building its own Tiangong space station, which it plans to finish by the end of 2022. Click here to read...
China biggest borrower, lender among middle-income nations
China is the largest borrower among all the world's low- and medium-income countries while also being one of the biggest lenders to those places, the World Bank said in a recent report, underscoring the nation's key position in the global economy. Almost 60%, or about $4 trillion, of financial flows to low- and middle-income countries from external creditors and investors went to China over the last decade, according to the November report. In 2020, loans and investments that made their way into China jumped 32% from a year earlier to $466 billion, even as such flows to low- and medium-income countries generally slowed. The balance of China's debts increased 11% to $2.3 trillion. The World Bank said the greater flows into China were mainly driven by increased investment in yuan-denominated bonds through the country's interbank bond market, also known as CIBM, which has been relaxing restrictions on overseas investors since 2016. Foreign investors held $635 billion of Chinese bonds by the end of 2020. CIBM is now worth $12 trillion, second only to its U.S. counterpart. Meanwhile, low- and middle-income countries' combined debt to China was $170 billion at the end of 2020, more than triple the level in 2011. Click here to read...
China’s Hainan sees duty-free sales boom as shoppers look for ‘convenient’ alternative to Hong Kong
Duty-free sales in China’s island province of Hainan surged to 50.49 billion yuan (US$7.9 billion) in 2021, growing 83 per cent from a year earlier, as the coronavirus pandemic continues to limit travel abroad and Hong Kong’s stringent quarantine controls make it difficult for mainlanders to visit the city. Hainan’s commerce department said the number of duty-free shoppers to the island increased by 73 per cent year on year, and the volume of duty-free purchases rose by 71 per cent over the same period. The island’s 10 duty-free stores – which also sell non-duty free items – booked sales of 60.173 billion yuan last year, up 84 per cent from 2020. China announced in June last year it would turn the 35,000 sq km island into the world’s largest free-trade port by offering tax incentives and relaxing visa requirements for tourists and business travellers. Starting in 2025, the entire island will be designated duty free, eliminating the need for brands to work with duty-free licensees. Beijing hopes the island’s transformation will boost domestic consumption – a key part of the new “dual circulation” economic strategy – by enticing Chinese to spend at home rather than in other duty-free hubs like Singapore. Click here to read...
Tesla Opens Showroom in China’s Xinjiang, Region at Center of U.S. Genocide Allegations
Tesla Inc. has opened a new showroom in Xinjiang, the remote region where Chinese authorities are carrying out a campaign of forcible assimilation against religious minorities that has become a public-relations quagmire for Western brands. The Austin, Texas-based electric car maker started operations at the new showroom in Urumqi, the capital of Xinjiang, the company said in a Dec. 31 post on its official account on China’s popular Twitter-like social-media platform Weibo. “On the last day of 2021, we meet in Xinjiang. In 2022, let us together launch Xinjiang on its electric journey!” Tesla wrote in the post. Tesla’s China-based spokesperson couldn’t be reached for comment on a public holiday. Widely admired in China, Tesla has expanded rapidly in the world’s most populous country. With its most recent expansion, however, the auto maker risks wading into a reputational thicket that has recently ensnared other major American companies such as Walmart Inc. and Intel Corp.Xinjiang has quickly become a litmus test for foreign companies doing business in China. Those who embrace the region risk regulatory trouble and reputational blowback in their home markets, while those who shun it face the wrath of China’s government and increasingly nationalistic consumers. Click here to read...
Is Apple worth US$3 trillion? Bulls, bears examine the case
Is Apple really worth US$3 trillion 16 months after becoming the first company valued at US$2 trillion ?The answer depends on how one views the iPhone maker's ability to keep up the unprecedented growth of the past 15 years. In its last fiscal year ended Sep 25, Apple delivered 33 per cent revenue growth to US$365.8 billion thanks to strong demand for 5G iPhone upgrades. But that growth spurt came after a year of single-digit sales growth and a fiscal 2019 when Apple's sales declined. The bull case for Apple is that it has built an ecosystem of 1 billion iPhone owners who spend money on services and that it is well-positioned for future categories like self-driving cars and augmented reality. The deep discount investors once ascribed to Apple's stock because of its dependence on the iPhone for sales growth has disappeared as Apple has proved that the device sits at the centre of an expanding solar system that adds new gadgets like the Apple Watch and Apple AirTags and new, paid services like television and fitness classes. Moreover, Apple is trading at about 30 times its expected 12-month earnings, down a bit from a multiple of 32 in early 2021 but still at highs not seen since 2008, according to Refinitiv data. Click here to read...
China buckles in its belt and road ambitions with Suez investments
About 120km (75 miles) east of Cairo near the Suez Canal lies one of the biggest concentrations of Chinese investments in Egypt – part of the Belt and Road Initiative, President Xi Jinping’s trade and infrastructure development plan. Most of the massive investments are concentrated in the Suez Canal Economic Zone, made up of six ports and four industrial estates, which has attracted many businesses making building materials, high-voltage equipment, machinery and petroleum equipment.Within the zone, China has built a 7.34 sq km (3 sq miles) industrial estate known as Teda City, short for the China-Egypt Teda Suez Economic and Trade Cooperation Zone. From their manufacturing hub at Teda, Chinese companies are tapping into the opportunities that come with the belt and road project, setting up industries to serve markets in the Middle East and Europe, through the Suez Canal. More than 10 per cent of global trade – 18,000 ships every year – goes through the Suez Canal and China is its biggest user. The waterway connects the Mediterranean to the Red Sea and is the shortest sea link between Asia and Europe, Beijing’s biggest market. Click here to read...
Indonesia bans coal exports in January on domestic supply worries: media
Indonesia has banned coal exports in January due to concerns that low supplies at domestic power plants could lead to widespread blackouts, a senior official at the energy ministry said on Jan 01. The Southeast Asian country is the world's biggest exporter of thermal coal, exporting around 400 million tonnes in 2020. Its biggest customers are China, India, Japan and South Korea.Indonesia has a so-called Domestic Market Obligation (DMO) policy whereby coal miners must supply 25% of annual production to state utility Perusahaan Listrik Negara (PLN) at a maximum price of $70 per tonne, well below current market prices. "Why is everyone banned from exporting? It's beyond us and it's temporary. If the ban isn't enforced, almost 20 power plants with the power of 10,850 megawatts will be out," Ridwan Jamaludin, director-general of minerals and coal at the energy ministry, said in a statement. "If strategic actions aren't taken, there could be a widespread blackout."In recent years, Indonesia has exported about 30 million tonnes of coal in the month of January. Ridwan said coal supplies to power plants each month were below the DMO, so by the end of the year "there was a coal stockpile deficit," adding that the ban will be evaluated after Jan. 5. Click here to read...
Pakistan considers higher taxes to meet IMF demands
Pakistan's government is facing a tough choice: prevent economic default or public outcry that could topple it from power.The government on Dec 30 submitted a bill to the National Assembly -- a supplementary finance bill that will give Islamabad the right to impose indirect taxes of 360 billion Pakistani rupees ($2 billion). The government is reluctant to have to raise taxes but it needs to do so as a prerequisite to get approval for a $1 billion loan at a Jan. 12 board meeting of the International Monetary Fund. Islamabad was also expected to submit another bill under IMF pressure, called the State Bank of Pakistan amendment. The bill, if passed, will give the central bank more autonomy and allow it to reject government borrowing. The government has not given any hints as to whether this bill will be shelved or submitted later. There had been worries that the indirect taxes could lead to higher prices, which might trigger protests. This comes after the ruling party, Pakistan Tehreek-e-Insaf led by Prime Minister Imran Khan, recently suffered huge setbacks in local mayoral and district elections, as Pakistanis punished the party for inflation. Click here to read...
Kazakhstan's crypto mining boom fizzles over power supply strain
A wild year for cryptocurrency mining in Kazakhstan is ending on a sour note, with electricity shortages putting what appeared to be a boom on the verge of going bust. A Chinese crackdown on the industry in May triggered an influx of miners into the normally energy-rich country, which appeared to welcome them with open arms. Quickly, however, Kazakhstan found its power supply taxed by the sudden spurt of mining, which sucks up huge amounts of electricity.Miners feel they have been unfairly maligned due to the shortcomings of an outdated, creaky and inefficient national grid. Some have already gone elsewhere. Those that remain -- and the government -- are groping for ways to make the industry more sustainable and keep the digital currency flowing. At the start of 2021, the Central Asian nation was a relatively minor player on the global crypto scene. But as China moved to wipe out the industry, Kazakhstan went from accounting for 6.17% of the world's hash rate -- a measure of processing power used to mine cryptocurrency -- to 18.1% by August, according to the Cambridge Centre for Alternative Finance. Click here to read...
New EU Rules Spark Fight Over What Is ‘Green’ Energy
The European Union has proposed treating nuclear energy and natural-gas investments as similar to renewables over coming years in pursuit of a carbon-neutral economy, but the approach faces criticism from some of the bloc’s governments. The draft recommendation, which needs approval from EU governments and the European Parliament, underlines the political controversy already stirred up by environmental policies in Europe, despite broad public support for action to prevent climate change.The proposal from the European Commission, the EU’s executive arm, spells out changes to what counts as investment in environmentally sustainable energy. Known as the “green taxonomy,” it is being closely watched by investors and industries including power generation, transportation and manufacturing.Europe needs massive investment to meet its 2050 target for a carbon-neutral economy. In 2019, the Commission estimated it would need between 175 billion euros to 250 billion euros—equivalent to $199.02 billion to $284.31 billion—in additional annual investment in coming decades to achieve the goal. Most of that will need to come from the private sector. The EU hopes that by clearly classifying what counts as green investment and setting out stricter rules for what is required to achieve that, it will encourage investment in green projects, potentially lowering their funding costs relative to other energy plans. Click here to read...
Japanese snack giant taps India-born exec to make rice crackers overseas hit
Piquant and super crunchy "kaki no tane" rice crackers have been a mainstay of Japanese supermarket snack aisles for decades, but the company that manufactures it is hoping to break out of the domestic market and make it a hit overseas too. And the firm is looking to its new India-born vice president and kaki no tane enthusiast Juneja Raj Lekh to lead the charge. Kaki no tane (literally "persimmon seeds," for the savoury snack's shape) is thought to have been invented by a snack-maker in Niigata Prefecture in 1924. Rice-based snack behemoth Kameda Seika Co. added peanuts to it in 1966 and marketed it as "kaki pea" and the product took off in the late 1980s. Lekh is originally an expert in microorganisms and fermentation. He came to Japan in 1984 and earned a PhD from Nagoya University. In 1989, he joined Yokkaichi, Mie Prefecture-based food ingredient maker Taiyo Kagaku Co. as a researcher. There he isolated compounds in tea that help people relax or give them increased protection against cavities -- compounds that are apparently still used in numerous products today.In recognition of his achievements, Taiyo Kagaku promoted Lekh to executive vice president in 2003. Seeking new challenges, Lekh moved to Rohto Pharmaceutical in 2014. Click here to read...
Strategic
2022 look ahead: Xi and Biden's moment of truth
According to the Chinese zodiac, 2022 is the Year of the Tiger. Coming every 12 years, let us consider the Year of the Tiger over the last six calendar cycles: 2010: Greek government bonds were downgraded to junk status; 1998: The Long Term Credit Bank of Japan was nationalized; 1986: The Chernobyl disaster; 1974: The Watergate scandal forced the resignation of U.S. President Richard Nixon; 1962: The Cuban missile crisis brought the world to the brink of full-scale nuclear war; 1950: North Korea invaded South Korea to begin the Korean War.During each of the above Years of the Tiger, the Nikkei Stock Average -- which measures the performance of 225 large, publicly owned Japanese companies -- ended the year lower in all cases except 1986. One win from six is the worst performance among the twelve zodiacs. So, what can we expect from this current Year of the Tiger? Perhaps it is worth re-examining the geopolitical insights we gained in 1950 and 1962. 2022 will prove decisive and be remembered as the year of Chinese President Xi Jinping's rise and U.S. President Joe Biden's fall. As a result, the escalating competition between the two superpowers will be much harder and stronger, and we will see accelerated geopolitical risk in the Taiwan Strait. Click here to read...
‘P5’ nuclear powers including China, US pledge to keep such weapons only for defence
The United States, China and three other nuclear-armed countries collectively known as the “P5”, released on Jan 03 a joint statement pledging to use nuclear weapons only for defensive purposes, amid rising concern over Beijing’s more pronounced military posture.Along with Britain, France and Russia, Washington and Beijing affirmed that “a nuclear war cannot be won and must never be fought”. The five countries are the permanent members of the United Nations Security Council. “As nuclear use would have far-reaching consequences, we also affirm that nuclear weapons – for as long as they continue to exist – should serve defensive purposes, deter aggression, and prevent war,” the group said. “We believe strongly that the further spread of such weapons must be prevented.” The statement follows a series of warnings by US defence officials in recent months that say China’s advances in military technology, including the size and scope of its nuclear missile arsenal, are becoming a serious challenge for America’s military. A report released by the Pentagon in November claimed that China had expanded its nuclear capacity on land, sea and air, estimating the country could have up to 700 deliverable nuclear warheads by 2027 and at least 1,000 by 2030. Click here to read...
Biden talks sanctions, Putin warns of rupture over Ukraine
President Joe Biden has warned Russia's Vladimir Putin that the U.S. could impose new sanctions against Russia if it takes further military action against Ukraine, while Putin responded that such a U.S. move could lead to a complete rupture of ties between the nations. The two leaders spoke frankly for nearly an hour Dec 30 amid growing alarm over Russia's troop buildup near Ukraine, a crisis that has deepened as the Kremlin has stiffened its insistence on border security guarantees and test-fired hypersonic missiles to underscore its demands. Putin's foreign affairs adviser Yuri Ushakov, who briefed reporters in Moscow after the Biden-Putin phone conversation said that Putin told Biden that Russia would act as the U.S. would if offensive weapons were deployed near American borders. White House officials offered a far more muted post-call readout, suggesting the leaders agreed there are areas where the two sides can make meaningful progress but also differences that might be impossible to resolve. Putin requested the call, the second between the leaders this month, ahead of scheduled talks between senior U.S. and Russian officials Jan. 9 and 10 in Geneva. The Geneva talks will be followed by a meeting of the Russia-NATO Council on Jan. 12 and negotiations at the Organization for Security and Co-operation in Europe in Vienna on Jan. 13. Click here to read...
Turkey’s Erdogan Says He Will Visit Saudi Arabia in February
Turkish President Recep Tayyip Erdogan said he would visit Saudi Arabia next month as the rival Middle Eastern powers look to overcome years of tensions that peaked after the 2018 killing of a prominent Saudi journalist in Istanbul.“At the moment, he is expecting me in February,” Mr. Erdogan said in a video shared online on Jan 03. “He promised, and I will visit Saudi Arabia in February,” Mr. Erdogan said in apparent reference to Saudi Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler. There was no immediate confirmation of Mr. Erdogan’s planned visit by Saudi Arabia. A once unimaginable encounter between the leaders of Turkey and Saudi Arabia would signal a detente in a rift that has divided the Middle East for years. The meeting offers a chance to put behind them problems that have poisoned the relationship between two of the region’s biggest economies, foremost among them the killing and dismemberment of writer Jamal Khashoggi by a team of Saudi government operatives inside the kingdom’s Istanbul consulate. Middle East diplomats say they are talking to rivals shunned for years amid uncertainty over the Biden administration’s commitment to the region following the U.S.’s abrupt withdrawal from Afghanistan last summer and its foreign-policy pivot toward China. Click here to read...
Attacks on U.S. Allies Raise Tensions on Anniversary of Killing of Iran’s Soleimani
Yemen’s Houthi rebels seized an Emirati-flagged ship, explosive-laden drones targeted the Iraqi capital’s airport and hackers hit two Israeli newspapers on Jan 03, raising tensions in the Middle East as Iran-aligned militias attacked U.S. allies on the second anniversary of America’s killing of one of Tehran’s top generals.Meanwhile, Iran held a massive memorial for Maj. Gen. Qassem Soleimani in the country’s capital to mark the anniversary of the American drone strike in Iraq that killed the military leader and an Iraqi militia commander on Jan. 3, 2020. It wasn’t immediately clear if Jan 03’s attacks were coordinated or backed by Iran. They came a day after Iranian Supreme Leader Ali Khamenei tweeted: “Martyr Soleimani is more dangerous for his enemies than General Soleimani.”They also followed protests by Iran-allied paramilitary groups in Iraq over the weekend. Crowds in Baghdad chanted “death to America” and vowed to avenge Gen. Soleimani’s killing. “Iran is trying to show that they are taking revenge and that they are strong,” said Hamdi Malik, an associate fellow at the Washington Institute for Near East Policy and an expert on Iraq’s Shiite militias. “But at the same time they don’t really want to start a war because they desperately need the sanctions to be lifted,” Mr. Malik said. Click here to read...
New US defence law calls for stronger Taiwan ties, but US President Joe Biden must walk a tightrope
Military exchanges between Taiwan and the United States are expected to increase in both level and scope this year with both Congress and the White house supporting the island in strengthening its defences in the face of growing threats from Beijing. But although the 2022 US National Defence Authorisation Act (NDAA) calls for Taiwan to be invited to this summer’s Rim of the Pacific exercises – the world’s largest international maritime military drill – the prospects for its participation are not as good as they might seem, observers said. The defence bill, which President Joe Biden signed into law on Dec 27, includes provisions to enhance Taiwan’s asymmetric capabilities and elements to promote military and security cooperation.The measure, which authorises US$770 billion for the US Defence Department, also recommends that before mid-February the Pentagon briefs congressional committees on the feasibility and advisability of enhanced cooperation between the National Guard and Taiwan. Chieh Chung, a senior researcher at the National Policy Research Foundation, a think tank for Taiwan’s main opposition party, the Kuomintang, said that “not only that the provisions about Taiwan in the NDAA are non-binding, but the Biden government also has to take into account the reaction of Beijing and its one-China policy”. Click here to read...
China says it has hypersonic missiles with heat-seeking tech – years before US
Chinese scientists say they have developed next-generation hypersonic weapons with technical breakthroughs in infrared homing technology – which the US military may not have until 2025. Heat-seeking capability allows Chinese hypersonic missiles to home in on almost any target – including stealth aircraft, aircraft carriers and moving vehicles on the street – with unprecedented accuracy and speed, according to the researchers. The first generation of hypersonic weapons were designed to penetrate missile defence systems and hit fixed targets on the ground at five times the speed of sound or faster. Although China and Russia had deployed some hypersonic missiles, a popular opinion elsewhere was that these weapons had little practical value unless a country wanted to start a nuclear war. But conventional warfare could be transformed by a hypersonic missile being able to search for, identify and lock on to a target based on its heat signature when flying at low altitudes where the air is thicker, said the Chinese researchers, from the hypersonic infrared homing programme at the National University of Defence Technology. Heat sensing at hypersonic speed is not easy, but China has made “a series of core technology breakthroughs that were proven effective in tests”, lead scientist Professor Yi Shihe wrote in a paper published on December 15 in domestic peer-reviewed journal Air and Space Defence. Click here to read...
Japan and China agree to launch defense hotline next year
Japanese Defense Minister Nobuo Kishi said Dec 27 he agreed with his Chinese counterpart Wei Fenghe to start operating a hotline between their officials amid tensions over disputed islets in the East China Sea. Kishi also said at a press conference after holding a videoconference with Wei that peace and stability on the Taiwan Strait are vital for Japan's security, and Tokyo will closely monitor developments there."We confirmed that the early establishment of a hotline between Japanese and Chinese defense authorities is important," Kishi said, adding he expressed "extreme grave concern" over Chinese coast guard ships' activities in waters surrounding the Japanese-administered Senkaku Islands, which Beijing claims and calls Diaoyu. China and Japan should "jointly manage and control risks" while focusing on the overall situation of bilateral relations and striving to maintain stability in the East China Sea, Wei was quoted as saying by the ministry. During their first talks since December last year, which lasted for about two hours, Kishi said the hotline will enhance the efficiency of a communication mechanism that the two countries launched in 2018 to avoid accidental clashes at sea and in the air. Click here to read...
South China Sea: think tank calls for Beijing vigilance as US steps up surveillance of disputed waterway
The United States intensified its surveillance of China over the South China Sea in 2021, a Beijing-based think tank said while calling on Beijing to remain vigilant about any heightened risk over the waters. Hu Bo, director of the South China Sea Probing Initiative, said that in 2021 the US had conducted 1,200 surveillance missions using large-scale reconnaissance aircraft – up from 1,000 sorties last year – including several approaches 20 nautical miles from the baseline of territorial waters claimed by Beijing. The US sent aircraft carrier strike groups and amphibious groups to enter the South China Sea 13 times – double the number sent in 2020. At least 11 attack nuclear submarines sailed to the South China Sea and its surrounding waters last year, Hu said. “Relations between China and the US have become the biggest uncertainty in the security of the South China Sea. The two nations have the most dialogue platforms but also are facing the most serious confrontation,” Hu said. Hu made the remarks on Jan 01 in a forum addressing the South China Sea issue before the transcript was published on the think tank’s social media account on Jan 03. Click here to read...
China tells Indonesia to stop drilling off South China Sea islands
China has repeatedly told Indonesia to halt an oil and natural gas development project in the South China Sea, claiming infringement on its territorial waters, Nikkei has learned. The exploratory drilling began in July near the Natuna islands within Indonesia's exclusive economic zone, which overlaps China's expansive "nine-dash line" territorial claim covering much of the sea. In addition to the protests, China has sent coast guard vessels into the area to increase pressure, Indonesian government sources said, citing eyewitness accounts. Jakarta, which contends that no territorial dispute with China exists, has not disclosed Beijing's protests. Indonesia apparently regards a public response to the protests as tantamount to acknowledging the existence of a dispute. The round of drilling was completed in late November, said Vice Adm. AanKurnia, who heads the Indonesian Maritime Security Agency, known as Bakamla. Beijing has intensified activity near the Natuna islands since 2019, escalating tensions with Jakarta. In May 2020, Indonesia sent the United Nations a letter rejecting Beijing's historical claims in the sea indicated by its nine-dash line maps. China, in turn, sent a letter to the U.N. that maintains the claims in the South China Sea while seeking a solution through negotiations. Indonesia refused to come to the table. Click here to read...
Disillusioned younger voters hold key to South Korea presidential race
South Korea's two main presidential candidates are running neck and neck just over two months before the election, spurring a scramble for young independent voters to tip the scales. This bloc swayed April's mayoral elections in Seoul and Busan, delivering a clear rebuke to the ruling Democratic Party and President Moon Jae-in's administration amid frustration with corruption scandals and policies that helped fuel a surge in property prices. The leading candidates in the presidential race -- a retired civil rights attorney who rose from humble beginnings, Democrat Lee Jae-myung, and a former chief prosecutor known for not shrinking from a fight, Yoon Seok-youl of the opposition conservative People Power Party -- are now vying for these voters. Polling shows overwhelmingly unfavourable ratings for both contenders in a race that has descended into mudslinging. A Gallup Korea poll found that 45% of respondents ages 18-29 had no party affiliation, along with 31% of those in their 30s, compared with no more than 15% for any older group -- a trend reflecting young people's disappointment with their political options. Millennial and Generation Z voters have experienced cutthroat competition, particularly for jobs, and are highly sensitive to South Korea's inequality of opportunity. As voters, they tend to think pragmatically rather than tie themselves to a particular party. Click here to read...
South Korea's Moon promises final push for North Korea peace
South Korean President Moon Jae-in vowed on Jan 3 to use his last months in office to press for a diplomatic breakthrough with North Korea, despite public silence from Pyongyang over his attempts for a declaration of peace between the two sides. "The government will pursue normalisation of inter-Korean relations and an irreversible path to peace until the end," Moon said in his final New Year's address before his five-year term ends in May. "I hope efforts for dialogue will continue in the next administration too." In his own address on New Year's Eve, North Korean leader Kim Jong Un made no mention of Moon's calls for a declaration officially ending the 1950 to 1953 Korean War, or of stalled denuclearisation talks with the United States. Moon held multiple summits with Kim, including once in Pyongyang, during a flurry of negotiations in 2018 and 2019, before talks stalled amid disagreements over international demands that the North surrender its arsenal of nuclear weapons, and Pyongyang's call for Washington and Seoul to ease sanctions and drop other "hostile policies". Moon is pushing an "end of war declaration" as a way to jumpstart those stalled negotiations and his administration has hinted at backchannel discussions. Click here to read...
2021, the year military coups returned to the stage in Africa
This year, there were four successful military takeovers across the continent – in Chad, Mali, Guinea and Sudan – up from one in 2020.In the second part of the 20th century, military coups in Africa were used as a common means of changing the political order in the wake of decolonisation. Between 1960 and 2000, the overall number of coups and coup attempts stood at an average of four per year, according to a study by Jonathan Powell, an associate professor at the University of Central Florida, and Clayton Thyne, a professor at the University of Kentucky. However, as calls for democratic reforms and constitutionalism grew with the new century, military coups decreased to two per year until 2019. Now, however, they seem to be making a comeback – prompting United Nations Secretary-General Antonio Guterres earlier this year to decry what he dubbed “an epidemic of coup d’etats”. The recent surge in the militarisation of politics, analysts say, is influenced by a mix of external drivers, including the increasing and diverse number of international actors who are active in the continent prioritising their interests, and internal factors, such as widespread public frustration against corruption, insecurity and poor governance. Click here to read...
Libyan parliament urges elections commission to set new date for presidential election
Libya's House of Representatives, the parliament, urged on Jan 03 the High National Elections Commission to propose a new date for the presidential election as soon as possible. The House of Representatives made the call in a statement after a parliament session, during which 80 of its members gathered to hear the briefing of the Commission's head on the failure to hold the presidential election on schedule. "The High National Elections Commission should communicate with all departments and agencies involved in the electoral process in order to lift the state of force majeure and set a new date for the elections," said the statement. According to Emad al-Sayeh, head of High National Elections Commission, "conflicting legal rulings that were not released on time, and threats made to the Commission against publishing the final list of presidential candidates containing certain names" were among the factors that prevented the presidential election from taking place on time. Presidential election in Libya was scheduled for Dec. 24, 2021. However, along with the parliamentary elections, it was postponed indefinitely over technical and legal issues, according to the Commission. The elections are part of a roadmap adopted by the UN-sponsored Libyan Political Dialogue Forum, which aimed at restoring peace to the country after years of political turmoil and violence. Click here to read...
Iran space launch fails to put payloads into orbit, official says
Iran's space launch on Dec 30 failed to put its three payloads into orbit after the rocket was unable to reach the required speed, a defence ministry spokesman said in remarks carried on state television on Dec 31. The attempted launch, which came as indirect U.S.-Iran talks take place in Austria to try to salvage a 2015 nuclear deal, drew criticism from the United States, Germany and France. "For a payload to enter orbit, it needs to reach speeds above 7,600 (metres per second). We reached 7,350," the spokesman, Ahmad Hosseini, said in a documentary about the launch vehicle broadcast on state TV and posted online. On Dec 30, Hosseini did not clarify whether the devices had reached orbit, but suggested the launch was a test ahead of coming attempts to put satellites into orbit.Iran, which has one of the biggest missile programmes in the Middle East, has suffered several failed satellite launches in the past few years due to technical issues. Washington has said it is concerned by Iran’s development of space launch vehicles, and a German diplomat said Berlin had called on Iran to stop sending satellite launch rockets into space, adding that they violated a U.N. Security Council resolutionClick here to read...
Medical
Remote Antarctic station hit with Covid-19 outbreak
Researchers working at Belgium’s Princess Elisabeth Polar Station in Antarctica have contracted Covid-19, even though all personnel have been inoculated and any new arrival has to follow rigorous safety protocols. Two-thirds of the station’s staff of 25 have been infected with the coronavirus, Belgium’s polar secretariat confirmed to local media earlier this week. But how the virus could have reached the remote station, located some 220km (137 miles) from the Antarctic coast, remains a mystery. “All those present have received two doses of vaccine, and one person has even received a booster shot,” said Alain Hubert, the facility’s executive operator and head of security measures. All staff members also have to undergo a series of PCR tests on their long journey to the station. Those en route there take one PCR test in Belgium before leaving for South Africa and another five days after their arrival. They self-isolate for 10 days in Cape Town, then undergo two further tests: one before leaving for Antarctica and another five days after arriving at the station.Nonetheless, even such strict control measures were apparently not stringent enough, as the first Covid-19 case was reported at the station in mid-December among a group of new arrivals. Click here to read...
1st case of ‘flurona’ reported in Israel
The first case of a potentially dangerous combination of Covid-19 and the flu has been discovered in a young, pregnant, unvaccinated woman in Israel. The hybrid condition was diagnosed at Rabin Medical Center in Petah Tikva earlier this week, when a woman went into labour. “She was diagnosed with the flu and coronavirus as soon as she arrived. Both tests came back positive, even after we checked again,” the head of the hospital’s gynaecology department, Professor Arnon Vizhnitser said, as quoted by newspaper Yedioth Ahronoth, which was the first to report on the double infection case. He added that the patient had mild symptoms and that influenza and Covid are actually the same disease because both attack the upper respiratory tract. The woman was discharged from the hospital on Dec 30. “We are seeing more and more pregnant women with the flu. It is definitely a great challenge dealing with a woman who comes in with a fever at childbirth and you do not know if it’s coronavirus or the flu, so you refer to them the same. Most of the illness is respiratory,” Vizhnitser said. Click here to read...
