Economic

World population hits 8 billion

The United Nations (UN) on Nov 11 called for solidarity in advancing sustainable development as the world's population hit 8 billion. The UN said in a press release that the 8-billion-mark is "a clarion call" for ­humanity to meet its shared ­responsibility to protect people and the planet, starting with the most vulnerable ones. "Unless we bridge the yawning chasm between the global haves and have-nots, we are setting ourselves up for an 8-billion-strong world filled with tensions and mistrust, crisis and conflict," UN Secretary-General Antonio Guterres said. While the world's population is expected to grow to around 10.4 billion in the 2080s, the overall rate of growth is slowing down. The world is more demographically diverse than ever before, with countries facing starkly different population trends ranging from growth to decline. Today, two-thirds of the global population live in a low fertility context, where the lifetime fertility is below 2.1 births per woman. At the same time, population growth has become increasingly concentrated among the world's poorest countries, most of which are in ­sub-Saharan Africa. Against this backdrop, the global community must ensure that all countries are equipped to provide a good quality of life for their populations and can lift up and empower their most marginalized people, according to the release. Click here to read...

Explainer | 4 weaknesses in China’s economy, from local government finances to poor regulation

Deteriorating local government finances, weak banks and inadequate regulation are among the main risks facing China’s economy, according to senior officials and regulators who have recently published candid assessments following the agenda-setting 20th party congress. Vice-Premier Liu He, central bank governor Yi Gang, Minister of Finance Liu Kun and banking and insurance regulator chairman Guo Shuqing have all reflected on the dangers facing the state-dominated financial system, though they have not outlined specific improvements. None of the officials have made it onto the list of the Central Committee of the Chinese Communist Party – the party’s top decision-making body – unveiled at the 20th party congress, a sign that they may step down from their roles next year. Their views carry weight nonetheless and come amid growing concern about Beijing’s policy direction. Liu He, the top economic adviser to President Xi Jinping, has said China’s economy is facing “triple pressure” from shrinking demand, a supply shock, and weakening expectations. But he has also stressed China would not engage in “flood-like” stimulus, and that the policy focus should be on avoiding economic volatility while aiming for “reasonable” growth. Weakening local government finances have been a growing concern as China’s zero-Covid policy has ramped up fiscal costs, while the slump in the property market has put a dent in local governments’ revenue. Click here to read...

Officials elaborate on new development opportunities in China for foreign businesses

Senior Chinese officials on Nov 15 elaborated on new opportunities for foreign businesses in China's new development pattern and high-quality development. Speaking to over 200 representatives from foreign businesses attending a meeting, online or in person, Zhao Chenxin, deputy director of the National Development and Reform Commission, stressed the openness of the new pattern of development that features positive interplay between domestic and international economic flows. While fully stimulating and unleashing the potential of its domestic demand, China will in the meantime deepen international economic and trade cooperation and deeply involve itself in the global industrial division of labour and cooperation, Zhao said. In the face of global volatility, China's new development will offer new opportunities to the world, Zhao said. While one of China's objectives and tasks for the next five years is to make new strides in reform and opening-up, Vice Minister of Commerce Sheng Qiuping called on foreign firms to actively seize three opportunities in the period. Sheng cited opportunities in the building of a unified national market, in the institutional opening-up and improved business environment, and in deepened international cooperation. Click here to read...

Top US-China panel urges halt to normal trade relations if no WTO compliance

Congress should suspend normal trade relations with China if Washington determines Beijing has not complied with the World Trade Organization market access agreement it signed decades ago, the US government’s top advisory panel on China policy said on Nov 15. In a sweeping annual report comprising 39 recommendations and covering nearly every aspect of the bilateral relationship, the US-China Economic and Security Review Commission also called on US lawmakers to study the feasibility of blockading Chinese energy imports in the event of a military conflict involving Beijing, particularly those transiting the Strait of Malacca. And in the latest sign of Washington’s growing alarm that Chinese leader Xi Jinping may attempt to invade Taiwan, the panel urged Congress to put more manpower into preparing for economic punishment and military resistance against Beijing if it were to attack the self-governed island. “Xi’s personal and strategic ambitions for his and China’s place in history are clearer than they’ve ever been before,” said Alex Wong, the commission’s chairman, on Nov 15. “And so is the need for the United States to take resolute steps to preserve and defend our interests and ideals in response.” The 785-page report comes as tensions between Washington and Beijing flare at their highest level in years, and it reflects the enormous distrust in Washington towards Beijing on essentially every aspect of the relationship – from trade policy to human rights to its sabre-rattling towards Taiwan. Click here to read...

COP27: UN climate summit applauds historic ‘loss and damage’ fund, but disappointed emissions deal

For the first time the nations of the world decided to help pay for the damage that climate change has done to poor countries, but they finished marathon climate talks on Nov 20 with a deal that does more to address the impacts of the burning of fossil fuels than actually fight climate change’s cause. The decision establishes a fund for what negotiators call loss and damage. It is a big win for poorer nations which have long called for cash – sometimes viewed as reparations – because they are often the victims of climate worsened floods, droughts, heatwaves, famines and storms despite having contributed little to the pollution that heats up the globe. The agreement struck in this Egyptian Red Sea resort city is a victory for developing nations that have for decades fought for some form of compensation for the “loss and damage” they’re suffering due to floods, droughts, famine, heatwaves and storms worsened by climate change despite emitting a small fraction of heat-trapping carbon pollution. Early on Nov 20 morning, delegates approved the compensation fund but had not dealt with the contentious issues of an overall temperature goal, emissions cutting and the desire to target all fossil fuels for phase down. Click here to read...

Dutch minister says can’t blindly follow US diktat on China chip export curbs

The United States shouldn’t expect the Netherlands to unquestionably adopt its approach to China export restrictions, a senior Dutch official warned, signalling a potential obstacle to the Biden administration’s trade fight. “The Netherlands will not copy the American measures one-to-one,” Dutch Foreign Trade Minister Liesje Schreinemacher said in an interview with newspaper NRC published on Nov 18. “We make our own assessment – and we do this in consultation with partner countries such as Japan and the US.” The comments marked the first time Dutch officials have publicly outlined their stance on the issue. The Biden administration is pushing for a multilateral agreement to impose restrictions on China, aiming to keep advanced chip technologies away from the country – and its military. Schreinemacher’s statement highlighted the significant challenges the US is facing in persuading allies to join its campaign. While the Netherlands and Japan share many of the US’s security concerns, the two countries also see China as a major market that they would like to maintain access to. The Netherlands are key to the struggle because the country’s ASML Holding NV is one of a handful of companies that dominate the market for semiconductor-manufacturing equipment. Its peers include Applied Materials Inc., Lam Research Corp. and KLA Corp. in the US, and Tokyo Electron Ltd. in Japan. Click here to read...

China open to role in Bangladesh river project under India's nose

A billion-dollar project to restore and manage a crucial river in Bangladesh is back on the table, with China showing a willingness to fund the endeavour, though even the Chinese ambassador has hinted at potential concerns over how regional rival India might react. The project centers on the Teesta River, which originates in the eastern Himalayas and flows through the Indian states of Sikkim and West Bengal before entering Bangladesh. The waterway has long been a source of friction between India and Bangladesh: Dam construction in India means farmers in northern Bangladesh lack water in the dry season and face inundation in the wet season. In 2011, the leaders of India and Bangladesh agreed to direct their officials to pursue a deal for sharing water from the Teesta during dry seasons on a "fair and equitable basis." But a final agreement has been elusive, and this September, after Prime Minister Sheikh Hasina visited India, farmers were left disappointed over the lack of progress. Hasina only came away with a nonbinding pact on sharing water from the Kushiyara River, considered less important than the Teesta. According to a study by the Asia Foundation, nearly 21 million Bangladeshis directly or indirectly depend on the Teesta River for their livelihoods. Click here to read...

Indonesia bags pledges for $71bn from G-20 presidency: Jokowi

Indonesia is on a roll. Chairing the Group of 20 major economies this year has propelled it into the global spotlight. The G-20 summit in Bali this week has generally been considered a success, and certainly given a boost to Indonesia's global standing. The bonus for Southeast Asia's largest economy is billions of dollars in new investment and funding pledges to support its goal of becoming a low-carbon industrial powerhouse. There is at least $20 billion in financial commitments under the Just Energy Transition Partnership from developed nations. Big names like Amazon, Hyundai Motor and Chinese battery giant Contemporary Amperex Technology (CATL) have also made major investment announcements. Indonesian President Joko "Jokowi" Widodo sat down for an exclusive interview with Nikkei Asia on Nov 17 in the aftermath of the Bali gathering. Apart from sharing his inside story on the "fierce" debates over Ukraine during the G-20 meetings, the president talked about funding pledges, support for his new capital city project, Indonesia's newly-announced 2036 Olympic bid and its chairing of the Association of Southeast Asian Nations (ASEAN) next year. There are a total of 140 projects and programs worth around $71.4 billion. Nearly all of the money is aimed at developing the green economy energy transition. Click here to read...

Artemis puts US in the lead to mine the Moon

NASA has just launched its first rocket in the Artemis program, which will, among other things, take scientific experiments to produce metal on the Moon. In recent years, a number of businesses and organizations have ramped up efforts to establish technologies on the Moon. But doing work in space is expensive. Sending just one kilogram of material to the Moon can cost US$1.2 million. What if we could save money by using the resources that are already there? This process is called in-situ resource utilization, and it’s exactly what astro-metallurgy researchers are trying to achieve. Why the Moon? The Moon has amazing potential for future space exploration. Its gravity is only one-sixth as strong as Earth’s, which makes it much easier to fly things from the Moon to Earth’s orbit than to fly them direct from Earth. And in an industry where every kilogram costs a fortune, the ability to save money is extremely attractive. Although people have been looking at making oxygen and rocket fuel in space for decades, the Artemis program marks the first time we have solid plans to make and use metal in space. What’s out there? There are two main geological regions on the Moon, both of which you can see on a clear night. The dark areas are called the maria and have a higher concentration of iron and titanium. The light areas are called the highlands (or terrae) and have more aluminium. Click here to read...

South Korea, Saudi to boost ties on energy, defence; $30 billion in deals signed

South Korean and Saudi Arabian leaders pledged stronger ties on Nov 17 in the fields of energy, defence industry and building projects, as the oil-rich kingdom signed investment agreements worth $30 billion with South Korean companies. South Korean President Yoon Suk-yeol told Saudi Arabia's Crown Prince Mohammed bin Salman he hoped the two nations can expand cooperation, calling the Middle Eastern country a key partner for its economy and energy security. Yoon held talks in Seoul with Prince Mohammed, who arrived on Nov 17 from Bali, Indonesia, where he had participated in a conference of the Group of 20 (G20) major economies. Yoon hoped to see South Korean companies' participation in projects such as the NEOM smart city project in Saudi Arabia and further cooperation in defence industry and future energy such as hydrogen, his office said in a statement. Prince Mohammed noted the role of South Korean businesses over the years in the development of Saudi Arabia's national infrastructure and wanted to see stronger cooperation with South Korea based on the trust built between the two countries. "In particular, he said he would like to drastically strengthen cooperation with South Korea in the areas of defence industry, infrastructure and construction," Yoon's office said. Earlier, South Korea's industry ministry said companies including Samsung C&T Corp and POSCO Holdings Inc had signed over 20 agreements with Saudi counterparts in fields such as energy cooperation, railways, chemicals, pharmaceuticals and gaming. Click here to read...

China signs 27-year gas deal with Qatar Energy to secure supply

Qatar Energy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG) in the longest such agreement to date, as volatility drives buyers to seek long-term supplies. Since Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe, in particular, needing vast amounts to help replace Russian pipeline gas that used to make up almost 40 percent of the continent’s imports. European companies looking to buy LNG needed to look at how Asian buyers were approaching their own negotiations and were willing to lock into long-term deals, Qatar Energy chief Saad al-Kaabi told the Reuters news agency shortly before signing the Sinopec deal. “Today is an important milestone for the first sales and purchase agreement (SPA) for North Field East project, it is 4 million tonnes for 27 years to Sinopec of China,” al-Kaabi said. “It signifies long-term deals are here and important for both seller and buyer,” he said in an interview in Doha, adding that the deal was the LNG sector’s largest single sales and purchase agreement on record. The North Field is part of the world’s biggest gas field that Qatar shares with Iran, which calls its share South Pars. Nov 21’s deal, confirmed by Sinopec, is the first supply deal to be announced for NFE. Click here to read...

Chinese Refiners Seek Government Help To Keep Russian Oil Flowing

Chinese state refiners have sought help from the country’s government to secure the continued flow of Russian crude oil after EU sanctions on the commodity enter into effect next month, according to unnamed sources cited by Bloomberg. The sanctions—part of an EU embargo on Russian crude—are coordinated with the G7 price cap on Russian oil exports, and involve a ban on the financing, shipping, and insurance of Russian oil cargoes to any country that does not comply with the cap, which has yet to be set.According to the Bloomberg report, some of the solutions on the table include higher volumes of pipeline oil coming from Russia into China, the establishment of a designated bank to handle the payments, and ship-to-ship transfers, which are commonly used in the transportation of sanctioned Iranian oil. Meanwhile, India is also preparing for the EU Russian oil embargo: it has increased its intake of Russian crude, importing 900,000 bpd in October, according to Indian media. The amount was the highest on record and represented 22 percent of India’s total oil imports for that month. According to Bloomberg sources, the Chinese authorities have not yet settled on a solution to the embargo-related challenges to continued supplies of Russian oil. Click here to read...

OPEC cuts oil demand growth forecast again as economic challenges mount

OPEC on Nov 14 cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year's figure, citing mounting economic challenges including high inflation and increases to interest rates. Oil demand in 2022 will rise by 2.55 million barrels per day (bpd), or 2.6 percent, the Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report, down 100,000 bpd from the previous forecast. "The world economy has entered a period of significant uncertainty and rising challenges in the fourth quarter of 2022," OPEC said in the report. "Downside risks include high inflation, monetary tightening by major central banks, high sovereign debt levels in many regions, tightening labour markets and persisting supply chain constraints." This report is the last before OPEC and its allies, together known as OPEC+, meet on Dec. 4 to set policy. The group, which recently cut production targets, will remain cautious, Saudi Arabia's energy minister was quoted as saying last week. For October, with oil prices weakening on recession fears, the group made a 100,000 bpd cut to the OPEC+ production target, with an even bigger reduction starting in November. Click here to read...

Germany completes first LNG import terminal

German authorities have inaugurated the first of five planned floating terminals, intended to receive liquefied natural gas (LNG) at the North Sea port of Wilhelmshaven. The country is scrambling to secure energy supplies as it tries to move away from Russian pipeline gas. Germany is reportedly short about 50 billion cubic meters of gas in yearly deliveries as a result of the reduction of imports from Russia. The nation’s previous attempts to diversify gas supplies have contributed to the current energy crunch. EU sanctions pressure, technical problems, as well as the sabotage of the Nord Stream pipelines, have further exacerbated the problem. The facility is expected to become functional around the turn of the year, along with a second floating terminal at the Brunsbuettel North Sea port, according to Economy Minister Robert Habeck, who boasted that the project had been completed in just 200 days. The Wilhelmshaven floating storage and regasification unit (FSRU), for utility Uniper, will be moored at an expanded pier and will have the capacity to regasify LNG arriving on tankers. Habeck added that another three FSRUs would be deployed in the coming months – one in Stade on the Elbe River near Hamburg, and two in Lubmin on the Baltic Sea. Another one in Wilhelmshaven will be added in the fourth quarter of 2023. Click here to read...

At least two million Ukrainians will migrate in winter – WHO

This winter may be a “life-threatening” experience for “millions” of Ukrainians, Hans Kluge, the World Health Organization (WHO) regional director for Europe, has warned. Up to three million Ukrainians are expected to migrate “in search of warmth and safety,” Kluge said on Nov 21 during a press conference in Kiev. “We expect 2–3 million more people to leave their homes in search of warmth and safety. They will face unique health challenges, including respiratory infections such as Covid-19, pneumonia and influenza, and the serious risk of diphtheria and measles in under-vaccinated populations,” Kluge stated. Those who remain at home will likely be forced to opt for “alternative heating methods,” the official said, warning that doing things “like burning charcoal or wood, or using generators fuelled by diesel, or electric heaters” carry health risks as well. They include “exposure to toxic substances that are harmful for children, older people and those with respiratory and cardiovascular conditions, as well as accidental burns and injuries,” he said. The ongoing conflict is also taking a heavy toll on the mental health of Ukrainians, according to Kluge. Some 10 million of them are already “at risk of mental disorders such as acute stress, anxiety, depression, substance use and post-traumatic stress disorder, or PTSD,” the official said. Click here to read...

Strategic

Highlights of Xi-Biden meeting ahead of G20 summit in Indonesia

Chinese President Xi Jinping and his U.S. counterpart, Joe Biden, had a candid and in-depth exchange of views here on Nov 14 on issues of strategic importance in China-U.S. relations and on major global and regional issues. The following are some of the highlights of their first in-person meeting since Biden became president of the United States. PUT CHINA-U.S. TIES BACK ON TRACK. President Xi pointed out the current state of China-U.S. relations is not in the fundamental interests of the two countries and peoples, and is not what the international community expects. China and the United States need to have a sense of responsibility for history, for the world and for the people, explore the right way to get along with each other in the new era, put the relationship on the right course, and bring it back to the track of healthy and stable growth to the benefit of the two countries and the world as a whole. OPEN, TRANSPARENT DOMESTIC, FOREIGN POLICIES. Xi pointed out that the domestic and foreign policies of the CPC and the Chinese government are open and transparent, with clearly stated and transparent strategic intentions and great continuity and stability. Click here to read...

China’s defence minister tipped to lead talks with US military, but sanctions on likely successor may pose early challenge

China is expected to send the outgoing defence minister Wei Fenghe to represent it in the first talks with the United States military since Nancy Pelosi’s trip to Taiwan earlier this year prompted Beijing to freeze dialogue with the Americans. One major issue China wants to resolve in the talks with Wei’s US counterpart Lloyd Austin is the sanctions imposed in 2018 on Wei’s probable successor, Li Shangfu. Li, a general who was promoted to the Central Military Commission last month, is in line to succeed Wei in March next year. However, Li was sanctioned over China’s purchase of Russian Su-35 combat jets and S-400 air defence missile systems when he was director of China’s Equipment Development Department. The two countries are expected to resume talks, including on military matters, following the meeting between presidents Joe Biden and Xi Jinping on the Indonesian island of Bali on Nov 14. Afterwards Biden told a news briefing that Austin and national security adviser Jake Sullivan would “be engaging with their counterparts from China”. Beijing suspended dialogues on defence, climate change and cooperation on fighting the international drug trade after the US House speaker’s visit to Taiwan in August, which China regarded as a major breach of its sovereigntyClick here to read...

Top US House Republican Kevin McCarthy vows a hard line on China

The US House of Representatives may form a new panel focused solely on Beijing in the Republican-controlled Congress that begins in January, the Republican Party’s top House lawmaker said on Nov 20. “When I become speaker, I’m going to have a select committee on China,” California representative Kevin McCarthy, the House Republican leader, said in an interview on Fox News. He vowed to “no longer allow the administration to sit back and let China do what they are doing to America”. The comments were the latest sign of the added pressure from Congress that US President Joe Biden will face to take a hard line on Beijing beginning in January, when the new class of lawmakers is sworn in. Nearly two weeks after the US midterm elections, Republicans have so far narrowly clinched control of the House for the upcoming Congress by one seat, but the final size of their majority remains unclear with five races still too close to call. Democrats retained control of the Senate. McCarthy is vying to become the next Speaker of the House, and to do so, he would need 218 votes from House lawmakers – one more than half of the chamber’s 435 representatives. It is currently unclear if McCarthy will have sufficient support among Republicans to claim the Speaker’s gavel. In an internal party vote last week, Republican House lawmakers voted 188-31 to make him their party’s nominee for Speaker, according to Reuters. Click here to read...

Xi announces 3rd Belt & Road forum to be held in 2023, calls on Asia-Pacific to up cooperation to new height

Addressing the APEC Economic Leaders' Meeting in Bangkok, Thailand on Nov 18, Chinese President Xi Jinping commended economic cooperation in the Asia-Pacific over the past several decades that has led to an "Asia-Pacific miracle," and called for the joint building of an Asia-Pacific community with a shared future and taking Asia-Pacific cooperation to a new height. He also announced that Beijing is to consider holding the third Belt and Road Forum for International Cooperation next year to give a new boost to development and prosperity in Asia-Pacific and the wider world. The Chinese president's remarks at the first in-person APEC economic leaders' meeting in four years offered a vigorous rebuttal to increasing attempts by certain economies and other forces to actively instigate tension within the region and seriously undermine regional cooperation. They also provided much-needed relief for regional economies that are becoming increasingly uneasy over growing tensions, Asia-Pacific business representatives and analysts noted. At the APEC Economic Leaders' Meeting and other related events in Bangkok, many attendees also drew a stark contrast between China's growing leadership role and the US' diminishing presence. Click here to read...

West African countries mull standby force to suppress region's insurgencies

Seven member states of the Accra Initiative, a West African security cooperation initiative, are considering setting up a standby military force to deal with armed insurgencies within the region, a Ghanaian minister said Nov 20. Albert Kan Dapaah, the Ghanaian National Security Minister, disclosed this at a press briefing to throw more light on steps so far to protect the territorial integrity of member states and the sub-region in general. "We are seriously considering establishing a standby force, but the form it would take is still under consideration," Dapaah disclosed. "The respective chiefs of defence staff from our member states have been holding discussions on the details of the standby force, and once we are ready, we would inform the general public on the form it would take," he said. He disclosed that porous borders in the sub-region and ungoverned spaces in the various countries were some of the key attractions to the armed insurgents and the jihadist groups."One of our key considerations is ensuring that there are not many ungoverned territories in our member countries. We will also make it difficult for the jihadists to radicalize youth in border communities," said Dapaah. Click here to read...

Iran rejects draft resolution calling for cooperation with IAEA

The Iranian nuclear chief said on Nov 16 the draft of an anti-Tehran resolution prepared for adoption at the ongoing meeting of the International Atomic Energy Agency (IAEA) Board of Directors "lacks validity" and is "rejected" by Iran. President of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami made the remarks to reporters on the sidelines of a cabinet meeting, in reaction to Nov 16's meeting of the IAEA Board of Directors and a potential resolution to be adopted during the session against Tehran, according to Iran's official news agency IRNA. On Nov 15, diplomats revealed that the United States, Britain, France and Germany had submitted a resolution to the IAEA calling on Iran to cooperate fully with the UN nuclear watchdog, according to media reports. Eslami said Iran has an "approved, written and announced" nuclear program and will continue its activities within its framework, noting that AEOI has responded to every allegation made by the IAEA. He added that if relevant parties had the necessary goodwill and sought to continue the negotiations on the revival of a 2015 nuclear deal, they would not have presented the draft of an anti-Tehran resolution. IAEA director general Rafael Grossi has said on several occasions that Iran failed to cooperate with the watchdog after uranium traces were identified at three "undeclared" sites in the country. Click here to read...

Malaysia election 2022: tight race indicates hung parliament for first time ever

Malaysia’s political parties must each present the name of a lawmaker it thinks has the majority support in the lower house of parliament, the palace said on Nov 20 after no coalition secured a majority in Nov 19’s general election. The parties must submit names before 2pm (0600 GMT) on Nov 21, the palace said in a statement, adding that the king’s decision on the new government and appointment of the premier will be final, in line with the constitution. The ruler has the discretion to name the premier whom he believes commands the majority support of lawmakers. The country’s rival blocs are seeking support from others to build a majority alliance to form a government. The king can appoint as prime minister a lawmaker he believes will command a majority in parliament. The country is facing a hung parliament for the first time in its history. Long-time opposition leader Anwar Ibrahim’s coalition won the most seats in Nov 19’s general election, results from the Election Commission showed. The biggest surprise came from former premier Muhyiddin Yassin who led his Perikatan Nasional bloc to a strong showing, pulling support from the incumbent government’s traditional strongholds. Click here to read...

Philippines to accelerate U.S. defence deal on base access

The Philippines on Nov 15 said it will speed up the implementation of a defence agreement that allows U.S. troops to rotate for extended periods and access local military bases. Manila is also in talks with Washington regarding additional sites to be covered under the Enhanced Defense Cooperation Agreement, including areas near Taiwan and the disputed South China Sea. "The Department is committed to accelerate the implementation of the EDCA by concluding infrastructure enhancement and repair projects, developing new infrastructure projects at existing EDCA locations, and exploring new locations that will build a more credible mutual defence posture," the Department of National Defense said in a statement. It added that $66.5 million has been earmarked to implement EDCA projects in agreed locations starting next year, including runway repairs and construction of warehouses for training as well as for humanitarian and disaster response. Signed in 2014, amid increased tensions in the South China Sea, EDCA was aimed at advancing the 1951 Mutual Defense Treaty between the U.S. and the Philippines through increased interoperability between both countries' militaries. But its implementation faced delays under former President Rodrigo Duterte, who forged closer ties with China. Duterte was critical of the EDCA and once threatened to terminate the 1998 Visiting Forces Agreement, which facilitates the entry of U.S. troops into the PhilippinesClick here to read...

Voting begins in Nepal amid economic, political stability concerns

The election pits the ruling alliance of the Nepali Congress party, led by Prime Minister Sher Bahadur Deuba and some former Maoist rebels, against the Nepal Communist Unified Marxist Leninist (UML) party. There are no pre-election polls, but political analysts expect the ruling alliance to retain power. Polls close at 5 p.m. (1115 GMT), the Election Commission said. It could take up to two weeks to declare final results. "We need political stability for faster growth of the economy and a government that can guarantee security to investors," said another voter, Prakash Thapa, 25. About 18 million people are eligible to vote for the 275-member parliament and the 550 members of seven provincial assemblies through a mix of first-past-the-post and proportional representation systems. The government has declared a holiday for Nov 20, which is a working day in Nepal. Political stability has proven elusive for the poor nation, wedged between China and India, discouraging many investors. Nepal has had 10 governments since the abolition of a 239-year-old monarchy in 2008. Political parties have promised to bring down prices, create jobs and boost the economy at nationwide rallies. Click here to read...

N. Korea unveils Kim's daughter at missile launch site

North Korea has unveiled the little-known daughter of its leader Kim Jong Un at a missile launch site, attracting keen attention on a fourth-generation member of the dynastic family Nov 19 that Kim had observed the launch of its new type of intercontinental ballistic missile with his wife Ri Sol Ju, their “beloved daughter” and other officials the previous day. Kim said the launch of the Hwasong-17 missile — the North’s longest-range, nuclear-capable missile — proved he has a reliable weapon to contain U.S.-led military threats. The main Rodong Sinmun newspaper also released a slew of photos of Kim watching a soaring missile from a distance with his daughter. Other photos showed her with her hair pulled back, wearing a white coat and a pair of red shoes as she walked in hand-in-hand with her father by a huge missile atop a launch truck. It’s the first time for North Korea’s state media to mention the daughter or publicize her photos. KCNA didn’t provide further details about her like her name and age.Much of Kim’s private life is still unknown. But South Korean media reported Kim married Ri, a former singer, in 2009, and that the couple have three children who were born in 2010, 2013 and 2017. Click here to read...

Kishida, Xi agree on closer communication over security

Prime Minister Fumio Kishida appeared satisfied after his meeting with Chinese President Xi Jinping on Nov. 17, the first face-to-face talks between the leaders of the two nations in three years. “This was a good start for creating a constructive and stable Japan-China relationship as well as for pushing along dialogue,” Kishida said after the 45-minute meeting. Although Kishida raised a number of Japanese concerns, including Chinese military action near the disputed Senkaku Islands of Okinawa Prefecture, the two leaders agreed to seek closer communication regarding national security issues not only between themselves but at various levels among the two nations. Kishida told reporters that a “frank discussion” was held on not only problem areas between the two nations but also on possible cooperation in the economic sphere and on climate change. The novel coronavirus pandemic created a huge roadblock for bilateral meetings over the past three years. In the meantime, the intensifying friction between China and the United States led to an escalation of military activity by Beijing, especially in relation to Taiwan. Japanese government officials were hoping that Kishida’s meeting with Xi would serve as a catalyst for rebooting the bilateral relationship. “By showing the prime minister meeting with Xi, Xi’s associates and other officials in China, where he has intensified his hold on power, will likely act through their interpretation of what he wants,” a high-ranking Foreign Ministry official said. Click here to read...

Albanese-Xi meeting no panacea but a solid first step

There were smiles all around as the Australian and Chinese leaders met formally for the first time in more than six years. The meeting was brief, just 32 minutes, but Prime Minister Anthony Albanese led afterward with the message that it “was a positive and constructive discussion.” President Xi Jinping said in his opening remarks that the difficulties in the bilateral relationship were not what the Chinese side wanted to see. Yet beyond conciliatory words and photo opportunities, the Australian public is being hit with contrasting takes on what the meeting means for relations with our most important trading partner and the “big guy” in the regional room. On one hand, it’s been described as a “landmark” and “historic” event – a “huge reset” of Australia-China ties. What’s conjured up are images of wine and rock lobster flowing freely through Chinese customs once again, and the detained Australians Yang Hengjun and Cheng Lei stepping off the prime ministerial jet alongside Albanese when it lands in Sydney later this week. Others, however, are keen to moderate expectations. Treasurer Jim Chalmers warned earlier this week that “I don’t think anybody pretends that some of the issues that China has raised, certainly some of the issues that we have raised, will be solved overnight.” The reality is that Canberra and Beijing’s assessments of their respective interests remain far from aligned. Click here to read...

Washington reveals details of high-profile US-Russia talks

The recent unannounced meeting of top Russian and US spies in Ankara was meant to maintain dialogue between two powers, US National Security Council spokesman John Kirby told US media on Nov 15. Speaking to Bloomberg, Kirby was asked to comment on the talks in Türkiye’s capital, which involved Sergey Naryshkin, director of Russia’s Foreign Intelligence Service (SVR), and CIA Director Bill Burns. “This was really about keeping the channels of communication with Russia open on issues that affect both our security’s futures,” the official said, adding that Burns’ sit-down with Naryshkin was “all about routine channels of communication” that Washington has with Moscow at various levels. Kirby noted that in recent weeks US Secretary of Defense Lloyd Austin and the Chairman of the Joint Chiefs of Staff Mark Milley spoke with their respective Russian counterparts. By doing so, the US is “making sure that… there won’t be any miscalculations,” the official said. At the same time, Kirby didn’t say whether the parties discussed US citizens that are currently in Russian custody, noting that he was not present at the meeting. “The main purpose was to talk about issues around strategic stability,” he said. Previously, the White House said that the Ankara talks didn’t have anything to do with the Ukraine conflict and revolved around nuclear weapons and US citizens that had been detained in Russia. Click here to read...

Top US general warns of reality on the ground in Ukraine

Ukraine’s chances of a near-term military victory over Russia are not high, top US general Mark Milley has cautioned. He noted that despite Kiev’s recent advances on the battlefield and the capture of the city of Kherson, Moscow still has a significant combat presence in the country. Speaking at a news conference at the Pentagon on Nov 16, Milley stated that “the probability of a Ukrainian military victory defined as kicking the Russians out of all of Ukraine to include what they define or what the claim is Crimea, the probability of that happening anytime soon is not high, militarily.” The general noted, however, that there was a possibility of a “political solution” that would see Russia withdraw from territories Ukraine claims as its own, adding that Russia “is on its back” right now and that Ukraine needs to negotiate from a “position of strength.” Milley also reiterated Washington’s support for Kiev and vowed to continue for as long as it takes – a statement that was echoed by US Defense Secretary Lloyd Austin, who also took part in the press conference. Russia, meanwhile, says it will continue its military operation until all the goals are met. Moscow says it ordered its forces to enter the country in late February in order to protect the Donetsk and Lugansk People’s Republics, which had been under constant attack from Kiev’s forces since 2014 when a coup overthrew the nation’s elected government. Click here to read...

Russia not seeking a ‘change of power’ in Kiev – Kremlin

Russia is not seeking to depose the current Ukrainian government, Kremlin spokesperson Dmitry Peskov has revealed. He has also expressed confidence that Moscow will achieve its goals in the country, without specifying what they are. When asked by Russian journalists on Nov 21 whether the Kremlin sees regime change in Kiev as one of its military campaign’s objectives, Peskov replied “No, the president has already spoken about that.” The official went on to stress that Russia was determined to achieve its goals in Ukraine, which can be done “by various methods and in various formats.” He also assured reporters that it was not a question of ‘if’ but ‘when’. Earlier, in an interview to AIF newspaper, Vice Speaker of Russia's Federation Council, Konstantin Kosachev, theorized that relations between Moscow and Kiev could only normalize after a change of leadership in Ukraine. He claimed that the current government in Kiev lacked flexibility and was bound by its previous actions and ideology. Russia sent troops into Ukraine on February 24, citing Kiev’s failure to implement the Minsk agreements, designed to give the regions of Donetsk and Lugansk special status within the Ukrainian state. The protocols, brokered by Germany and France, were first signed in 2014. Former Ukrainian president Pyotr Poroshenko has since admitted that Kiev’s main goal was to use the ceasefire to buy time and “create powerful armed forces.” Click here to read...

Health

COVID-19 pandemic leads to surge in superbug infections, EU agency says

Infections from some antibiotic-resistant pathogens known as superbugs have more than doubled in health care facilities in Europe, an EU agency said on Nov 17, providing further evidence of the wider impact of the COVID-19 pandemic. The European Center for Disease Prevention and Control (ECDC) report said reported cases of two highly drug-resistant pathogens increased in 2020, the first year of the pandemic, then sharply jumped in 2021. The surge stemmed from outbreaks in intensive care units of hospitals and in EU countries where antimicrobial-resistant infections were already widespread, ECDC official Dominique Monnet told a news conference. Data showed that in Europe in 2021, reported cases of the Acinetobacter bacteria group more than doubled compared with pre-pandemic annual numbers. Cases of another bacteria, Klebsiella pneumoniae, which is resistant to last-resort antibiotics, jumped by 31 percent in 2020 and by 20 percent in 2021. The report did not include data on how many people died from the infections in 2020 and 2021. Experts say it can be challenging to definitively attribute the cause of death when patients were hospitalized for COVID-19, for example.Some scientists link the rise in hospital-acquired superbug infections during the pandemic to wider antibiotic prescriptions to treat COVID-19 and other bacterial infections during long hospital staysClick here to read...

28 Chinese provinces adopt optimized measures to COVID-19 response; six cities cancel mass testing: report

A total of 28 provinces, including South China’s Guangdong Province which is hit hardest in the latest COVID-19 flare-up, announced adoption of newly optimized measures to COVID-19 response in the past five days. Moreover, six cities, including Shanghai and Sanya scrapped mass nucleic acid testing, in an effort to implement the new measures, media reported. Shandong Province in East China even cancelled the requirement for any entries into the province to hold 48-hour valid nucleic acid test, only requiring the test to be done on arrival and the arrivals to conduct three tests in five days, China Times reported on Nov 16. Guangdong which recorded thousands of cases on a daily basis also adopted the new measures. City of Shantou in Guangzhou, capital of Guangdong announced on Nov 16 no longer check 72-hour valid test result in some public places. Shantou recorded one new COVID-19 case on Nov 16. Officials in Guangzhou, also the hardest-hit city in the province, said on Nov 16 to optimize nucleic acid test according to the new measures, and focus test resources on the most severe Haizhu district and other high-risk areas. Those changes were made after China last week released 20 optimized measures, including shortened quarantine periods for international arrivals and cancelation of circuit breakers for inbound flights. Click here to read...