Economic
China trade: ‘turning point’ as export growth suffers first drop in over 2 years on weak demand, zero-Covid
Momentum from China’s coronavirus-triggered exports boom is expected to weaken further in the coming months after shipments in October fell for the first in more than two years amid dwindling external demand and further fallout from the zero-Covid policy.Exports fell considerably short of expectations of continued growth and contracted by 0.3 per cent last month from a year earlier to US$298.37 billion, compared with 5.7 per cent expansion in September, according to data released by China Customs on Nov 07.“This marks a turning point for export growth, as the minus 0.3 per cent reading is the first negative print since May 2020,” said Nomura economists led by Lu Ting. “Although China’s exports may benefit from a weak [yuan] and [producer price index] deflation, those benefits could be more than offset by a global slowdown.” Export growth will, according to Nomura, slip further to around minus 4 per cent year-on-year in the last two months of the year.“As strong export growth has been the single-largest [gross domestic product] growth driver in China since spring 2020, the contraction of exports will inevitably weigh on growth, employment and investment, while it may also prompt Beijing to reconsider its zero-Covid strategy and property curbs,” Nomura added.“Nevertheless, we continue to expect no major policy changes on zero-Covid strategy and the property sector at least until March 2023.” Click here to read…
President Xi pledges to further open China’s markets, offering ‘big opportunities’ to the world ahead of trade fare
China’s president has pledged to open the country’s markets further as he reaffirmed his commitment to globalisation ahead of the world’s largest import trade fair, in Shanghai.“We have been offering big opportunities for the world economy by opening up China’s huge market,” Xi said in a televised speech to kick off the fifth edition of the China International Import Expo (CIIE), the government’s tentpole annual event for promoting a consumption-led economic development model. “The opening [of markets] will brighten the future of economic development globally.”Xi’s speech, his first at an international event since he secured an unprecedented third term as leader of the world’s second-largest economy, underscored his government’s commitment to global trade amid a slowing domestic economy battered by strict Covid-19 virus controls and tensions with the US.The transaction value stayed virtually flat for the next two years, according to figures provided by the organisers, as deal-making took a hit from a slowing economy and stringent measures to contain the Covid-19 pandemic. The event has weathered the storm of mainland China’s stringent border restrictions well because many exhibitors are multinational firms whose local staff can represent them on site. Click here to read…
China’s companies rewrite rules to declare Communist Party ties
China’s Communist Party congress underlined fears that President Xi Jinping is extending his grip over business and the economy — but Chinese companies were already starting to bow to Beijing’s wishes by enshrining the role of the party in their businesses.An analysis by Nikkei Asia has found that as of Nov 04, more than two-thirds of the mainland-listed companies whose shares can be traded by international investors in Hong Kong — 1,029 of 1,526 companies — have articles of association that formalize the role of in-house Communist Party cells. Most have been rewritten during the Xi era.Nikkei Asia has also identified at least 153 of those 1,029 companies as having references to Xi in their articles of association, which in effect are a company’s constitution. Such changes reflect the substantial pressure that the party and government have started to exert during Xi’s period as China’s leader to reinforce the role of the party cells, including by amending articles of association.”It’s clear that there’s kind of a change in trend on this over the last few years,” said Andrew Batson, lead analyst at Gavekal Dragonomics, a China-focused investment research organization based in Beijing. Maccura Biotechnology, a manufacturer of in vitro diagnostic products, is among the latest to spell out the party’s role. Click here to read…
COP27 Summit Begins as Economy, Ukraine War Overshadow Climate Concerns
Last year’s United Nations climate conference in Glasgow was full of disagreements, but it may be a high-water mark for international cooperation on the issue. This year, an energy crunch underscored the challenges of a transition to clean energy from fossil fuels. Climate concerns are being overshadowed by the war in Ukraine and related energy shortages; governments are worried about an economic downturn and some key alliances have broken down. Taking place in the Egyptian seaside resort of Sharm El Sheikh, the conference known as COP27 is the 27th U.N. climate gathering and the successor to last year’s big event in Glasgow, Scotland. The meeting in Egypt will be smaller and less ambitious. Egypt, which is leading the event, says the focus should be on implementing earlier promises. Weighing on every part of the conference is Russia’s invasion of Ukraine, which upended global energy markets and increased the use of fossil fuels, including coal. It also made the case for energy security, which for many countries means renewables. The U.S., Europe and China added policies and raised spending to address climate change. “The bottom line is there has been really little progress since COP26,” said Climate Analytics Chief Executive Bill Hare at a conference in SeptemberClick here to read…
Past eight years eight hottest on record, UN report warns
The past eight years are on track to be the hottest ever recorded, a United Nations report has found, as UN chief Antonio Guterres warned that the planet was sending “a distress signal”. The UN’s weather and climate body released its annual state of the global climate report on Nov 06 with another warning that the target to limit temperature increases to 1.5C (2.7F) was “barely within reach”.The acceleration of heat waves, glacier melts and torrential rains has led to a rise in natural disasters, the World Meteorological Organization said as the UN’s COP27 climate summit opened in the Red Sea resort town of Sharm el-Sheikh, Egypt. “As COP27 gets under way, our planet is sending a distress signal,” said Guterres, who described the report as “a chronicle of climate chaos”. Representatives from nearly 200 states gathered in Egypt will discuss how to keep the rise in temperatures to 1.5C, as recommended by the Intergovernmental Panel on Climate Change (IPCC), a goal some scientists say is now unattainable. Earth has warmed more than 1.1C since the late 19th century with roughly half of that increase occurring in the past 30 years, the report showed. This year is on track to be the fifth or sixth warmest ever recorded despite the impact since 2020 of La Nina, a periodic and naturally occurring phenomenon in the Pacific that cools the atmosphere. Click here to read…
NRA to extend maximum life of nuclear reactors beyond 60 years in Japan
The Secretariat of the Nuclear Regulation Authority on Nov. 2 proposed extending the maximum operating life of nuclear reactors beyond the current 60 years through additional safety inspections. The NRA, the government’s nuclear power industry watchdog, is expected to reflect the change in a draft revision of the Nuclear Reactor Regulation Law by the end of the year. Although allowing aging reactors to continue running has already drawn public criticism, NRA Chairman Shinsuke Yamanaka said at a Nov. 2 news conference that the new proposal “is a regulation much stricter than the current one.” He noted that the reactors will have to undergo more safety checks to continue operating. Under current rules introduced after the 2011 Fukushima nuclear disaster, the operating life of a nuclear reactor is 40 years, in principle. But reactors and their vessels that pass the NRA’s degradation inspections before reaching the 40-year mark can operate for an additional 20 years. The extension is allowed only once, so reactors at 60 years old must be decommissioned. Under the new proposal, reactors in operation for 30 years must undergo inspections for signs of degradation. If they pass the tests, they can run for 10 more years. Every decade, these reactors will have to undergo the degradation safety tests to continue operating. They could stay in operation beyond the current 60-year limit under this arrangement. Click here to read…
France to restart nuclear reactors – energy ministry
Six of the 12 nuclear reactors in France that were found to have corrosion issues in May have been repaired and will be restarted soon, French Energy Minister Agnès Pannier-Runacher has revealed. She told France Inter radio on Nov 02 that, at the moment, there was “no reason” to believe that energy operator EDF would not be able to meet the schedule for restarting all shutdown reactors before winter. Earlier, media reports stated that EDF had hired about 100 American welders from Westinghouse in order to repair the power units on time.France generates roughly 70% of its electricity from a nuclear fleet of 56 reactors, all operated by EDF. However, many of them have been closed down for maintenance, some due to corrosion-related issues. Currently, only 31 units are reportedly operating. EDF has pledged to restart all shutdown reactors before winter to avoid power shortages in the country.However, since October 6, there have been strikes among EDF employees involved in repair work at 19 reactors, delaying maintenance by several weeks. Last month, the French national electricity grid operator RTE warned that it would not rule out the risk of blackouts this winter due to prolonged strikes halting the repair. Click here to read…
US becomes EU’s second-largest gas supplier
The US has become the EU’s second-largest gas supplier due to increased LNG deliveries amid the drop in supply from Russia, deputy head of the European Commission Valdis Dombrovskis said on Nov 03 at an economic conference in Latvia. “We have managed to completely rebuild the structure of our suppliers. Norway is now the largest supplier of natural gas, followed by the US, which supplies us with liquefied natural gas,” he said, as cited by the TASS news agency. Prior to this year, Russia was the bloc’s largest gas supplier, covering roughly 40% of the region’s needs. However, following the start of Moscow’s military operation in Ukraine and the ensuing Western sanctions, Russian supplies are down to just 9% of the EU’s imports.The US became the EU’s third largest supplier last year, overtaking Algeria. In 2022, American LNG shipments were ramped up further and now account for nearly half of the bloc’s total LNG purchases.Some, however, criticize Washington for taking advantage of the energy crisis in the region, as its LNG deliveries cost up to four times more than the Russian gas supplies it used to rely on. Click here to read…
Russian shelling causes power blackouts across Ukraine
Ukraine’s state electricity operator has announced blackouts in the capital, Kyiv, and seven other regions of the country in the aftermath of Russia’s devastating strikes on energy infrastructure.The move comes as Russian forces continue to pound Ukrainian cities and villages with missiles and drones, inflicting damage on power plants and water supplies, in a grinding war that is nearing its nine-month mark. Ukrenergo, the sole operator of Ukraine’s high-voltage transmission lines, initially said in an online statement on Nov 05 that scheduled blackouts will take place in the capital and the greater Kyiv region, as well as several regions around it – Chernihiv, Cherkasy, Zhytomyr, Sumy, Poltava and Kharkiv.Later in the day, however, the company released an update saying that scheduled outages for a specific number of hours are not enough and instead there will be emergency outages, which could last indefinitely.Ukraine has been grappling with power outages and disruption of water supplies since Russia started unleashing barrages of missile and drone attacks on the country’s energy infrastructure last month.The attacks came after Moscow suffered a series of battlefield defeats in north-eastern Ukraine and an explosion on the Kerch Bridge, which links occupied Crimea to mainland Russia. The region was illegally annexed by Russia in 2014. Click here to read…
Canada kicks Chinese firms out of rare minerals sector
The Canadian government has ordered three Chinese firms to divest from its critical minerals companies on grounds of national security. The move comes days after Ottawa introduced tougher rules on foreign investment in the mining sector.According to media reports on Nov 02, the three Chinese firms are Sinomine Rare Metals Resources, Chengze Lithium International, and Zangge Mining Investment. Canada’s Industry Minister, Francois-Philippe Champagne said in a statement that the government ordered the divestiture after “rigorous scrutiny” of foreign firms by the national security and intelligence community. “While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security and our critical minerals supply chains, both at home and abroad,” Champagne said. Last week, Ottawa said it must build a resilient critical minerals supply chain with like-minded partners, as it outlined rules meant to protect the sector from foreign state-owned companies. According to Champagne, “The federal government is determined to work with Canadian businesses to attract foreign direct investments from partners that share our interests and values.” Canada has large deposits of critical minerals like nickel and cobalt, demand for which is expected to expand significantly in the coming decades.Earlier this year, Canada, the US, the UK, and several other countries set up a new partnership to secure critical minerals’ supply amid rising demand. Click here to read…
Japan to maintain stake in Russia’s Sakhalin 1 oil project
Japanese stakeholders in the Sakhalin 1 oil and gas project in eastern Russia decided Nov 04 to retain their stake in the undertaking by joining a new Russian operator recently established under a decree, as the project remains a vital source of energy for resource-poor Japan, sources close to the matter said.Japan’s government and companies including major trading houses Itochu and Marubeni have invested in the project through Tokyo-based Sakhalin Oil and Gas Development Co. If the Russian side approves the company plan decided at Friday’s shareholders meeting, Japan will be able to keep its stake in the project. The move comes amid international sanctions on Russia over its invasion of Ukraine. Sakhalin Oil and Gas Development holds a 30% stake in the project, which started producing crude oil on the island of Sakhalin north of Japan in 2005. Under the decree signed by President Vladimir Putin, foreign business partners had one month from the launch of the new operator in October to decide whether to invest in the new company. The government has indicated Japan, which is highly dependent on energy imports, will maintain its stakes in the Sakhalin 1 and 2 energy projects, despite imposing economic sanctions on Russia over its invasion of Ukraine. Click here to read…
U.S. calls out Japan and Netherlands over China chip curbs
U.S. President Joe Biden appears ready to pressure Japan and the Netherlands even more to join efforts to block the flow of advanced chip technology to China, where it could be used to develop cutting-edge weapons.”I think you will see Japan and Netherlands follow our lead,” U.S. Commerce Secretary Gina Raimondo said on CNBC Nov 03. While no specifics were mentioned, this appears to be the first time that a high-ranking U.S. official has named specific countries when speaking about cooperation on the export curbs. Since October, the Biden administration has, in effect, banned trade with China in advanced semiconductor technology, manufacturing equipment and related human resources. The rules include measures that would prohibit foreign companies from exporting semiconductors that incorporate U.S. technology. U.S. companies are strong in software used in chips as well as in the design software employed to make advanced semiconductors. South Korean and Taiwanese companies handle many products that use such U.S. technology, which is already subject to certain regulations. Japan and the Netherlands are the subject of U.S. attention because of their strength in semiconductor manufacturing equipment, which so far has not been subject to U.S. regulations. Companies in both countries are believed to be able to build products that do not rely on U.S. technology. Three companies dominate the global market for chipmaking equipment — American company Applied Materials is the largest, followed by ASML of the Netherlands and Japan’s Tokyo Electron. Click here to read…
Türkiye becoming one of Russia’s top trade partners
Trade between Moscow and Ankara has been expanding rapidly, with the volume of goods supplied to Russia hitting a monthly record of $1.1 billion in September. According to the RBC business daily, citing data from the Turkish Institute of Statistics, that’s 2.3 times more than in the same month in 2021 when Turkish exports to Russia amounted to $504 million. Data shows that in 2021, Türkiye ranked 11th among the countries supplying goods to Russia, ahead of the US, France, Japan, Poland, and Italy. This summer it broke into the top five exporters. September’s jump has placed Türkiye on par with Germany in terms of exports to Russia, RBC reports. During May-August Eurostat finds that German exports to Russia averaged around $1.2 billion per month and $1.14 billion in September, which is slightly less than that of Türkiye. However, if Türkiye overtakes Berlin it will become the third largest exporter of goods to Russia, after China and Belarus, the report says. Chinese exports to Russia in September amounted to about $8 billion, while the latest available data for Belarussian exports is that of June – at over $2 billion. Türkiye and Germany are followed by Kazakhstan, whose exports to Russia amounted to $881 million in August (up 23% versus July). Click here to read…
Iran’s embattled currency plunges to historic lows amid protests
Iran’s embattled national currency has hit a new all-time low amid ongoing protests and a lack of progress in efforts to restore the country’s 2015 nuclear deal with world powers. The rate of the United States dollar for the first time broke past the 350,000 mark against the Iranian rial in the open market at the start of the working week on Nov 05. The rial continued its decline, falling to about 362,000 per dollar later in the day. The Iranian government still maintains a drastically lower artificial rate of 42,000 rials for the dollar as its official figure, even after a subsidy reform plan earlier this year that eliminated the use of this rate for imports of a number of essential goods. The greenback changed hands at a rate of about 300,000 rials at the beginning of September, but the Iranian currency has been on a declining trajectory ever since nuclear talks once more stalled and protests erupted across the country in mid-September after the death of a young woman in police custody. When the nuclear deal was signed in 2015, the Iranian rial fetched more than 10 times the amount of dollars it does today. The Central Bank of Iran (CBI) said on Nov 03 it would pump more foreign currency into an official market it operates for importers and exporters, and to answer, “the real demands of the people”. Click here to read…
South Korea ‘battery alliance’ aims to supercharge rechargeable industry, but can it catch China?
South Korea has unveiled an ambitious strategy to drastically narrow the gap between itself and China in the realm of rechargeable batteries. Key components of the plan, announced on Nov 01, include launching a “battery alliance” between South Korea’s public and private sectors, while providing various policy measures to consolidate a US$35 billion domestic investment in the industry by 2030. The Ministry of Trade, Industry and Energy, which announced the “Rechargeable Battery Industry Innovation Strategy”, said in a statement that it intends for South Korea to increase its global market share of rechargeable batteries from its current 25 per cent to 40 per cent by 2030. If realised, South Korea could make significant gains on current industry leader China, which the strategy says takes up 56.4 per cent of the global market share. The Korean government considers rechargeable batteries among the key industries that the country’s future economic growth will rely on.The new strategy has three main goals: securing a stable supply chain in response to global trade regulations and mineral-supply risks; achieving cutting-edge original technology; and cultivating a solid domestic rechargeable-battery ecosystem. Click here to read…
Strategic
Analysis: China’s elders defend party charter from Xi onslaught
Contrary to popular belief, the Chinese Communist Party’s recently closed national congress may not have been a one-sided victory for General Secretary Xi Jinping. True, he won a clean sweep when it came to personnel appointments. But in other aspects, he did not win everything he wanted. A quiet resistance seems to have begun five months earlier, when retired party elders were told by current party leadership to refrain from discussing general policies of the Party Central Committee in an open manner and not to spread negative remarks leading up to the national congress. The notice was conveyed on May 15 by Ding Xuexiang, the then-director of the party’s General Office, who is now a member of the top decision-making body, the Politburo Standing Committee. It backfired. The culmination of the resistance surfaced on Oct. 26, four days after the national congress ended. That day, the full text of the party’s revised constitution adopted at the quinquennial event was made public. The amendment does not include a phrase about “establishing” Xi’s core position in the party nor one about “establishing” the guiding role of Xi’s eponymous ideology. This stood in contrast to the heavy spotlight on what Beijing is calling the “two establishes” during the congress. Many officials had emphasized the significance of establishing the two aspects. A banner calling for the two clauses was displayed on the streets of Beijing. Even a resolution adopted during the national congress includes it. Click here to read…
Xi tells Scholz China and Germany should work together during ‘times of turmoil’
Chinese President Xi Jinping touted the need for greater cooperation between China and Germany amid “times of change and turmoil” in his first meeting with German Chancellor Olaf Scholz, with talks expected to touch on Russia’s war on Ukraine, climate change and developing economic ties. Scholtz’s visit on Nov 04 is the first by a leader of a G7 nation to China in three years and will test the waters of relations between Beijing and the West after years of mounting tensions, analysts say. During their first face-to-face meeting since Scholz took office, held in the Great Hall of the People, Xi said that as large nations with influence, China and Germany should work together all the more during “times of change and turmoil” for the sake of world peace, according to state broadcaster CCTV. Scholz told Xi that it was good both leaders were meeting in person during tense times, with Russia’s invasion of Ukraine creating problems for the rules-based global order, according to a Reuters reporter accompanying Scholz’s delegation. Scholz also said that the two will discuss issues related to Europe-China relations, the fight against climate change and global hunger, and how to develop China-Germany economic ties, as well as topics where both countries’ perspective is different. Click here to read…
Ukraine grain export deal resumes days after Russia suspends involvement
Russia has said it would resume its participation in a deal freeing up grain exports from Ukraine, reversing a decision that world leaders warned would increase hunger globally. Russia, whose forces invaded Ukraine on Feb. 24, announced the reversal on Nov 02 after Turkey and the United Nations helped keep Ukrainian grain flowing for several days without a Russian role in inspections. The defence ministry justified the resumption by saying it had received guarantees from Ukraine that it would not use the Black Sea grain corridor for military operations against Russia.”The Russian Federation considers that the guarantees received at the moment appear sufficient, and resumes the implementation of the agreement,” the ministry said in a statement.Ukrainian President Volodymyr Zelenskiy said it was important to stand up to “crazy Russian aggression that destabilises international trade”.”After eight months of Russia’s so-called special operation, the Kremlin is demanding security guarantees from Ukraine,” Zelenskiy said in his nightly video address.”This is truly a remarkable statement. It shows just what a failure the Russian aggression has been and just how strong we all are when we maintain our unity.” The grain deal, originally reached three months ago, had helped alleviate a global food crisis by lifting a de facto Russian blockade on Ukraine, one of the world’s biggest grain suppliers.Click here to read…
U.S. Plans to Send B-52 Bombers to Australia in Effort to Counter China
The U.S. is laying the groundwork for further deployment of long-range B-52 bombers in strategic northern Australia, drawing criticism from China, which warns the move could spark an arms race in the region. A new, U.S.-funded aircraft-parking apron at an Australian air force base near the town of Katherine will be able to accommodate up to six B-52 aircraft, a spokesperson for Australia’s defense department said. The upgrade could also be used by other aircraft and will enhance Australia’s capacity to train with other allies, the spokesperson said. Basing the long-range bombers in northern Australia would allow the U.S. to project more power over the disputed South China Sea and deter Chinese activities there, some military experts said. Northern Australia already hosts U.S. Marines for part of the year and has become a key training ground for U.S. and allied forces, including aircraft. “The U.S.-Australia alliance is a cornerstone of U.S. foreign and security policy,” U.S. Defense Department Spokesman Lt. Col. Martin Meiners said. Both nations are “committed to evolving the alliance to effectively respond to the strategic environment.”Last week, the Biden administration cast China as the greatest danger to American security in a new defense strategy, and called for renewed efforts to build the military capabilities needed to deter Beijing. Click here to read…
The Pacific’s Missing F-15 Fighters
The Pentagon is pulling F-15 fighter jets from Okinawa after decades on the Japanese island, and the news has received too little attention. American air power is spread thin across the world, and the U.S. is in a precarious position even as it needs to put more hardware in the Pacific to deter China. “Starting in November, the Department of Defense will commence a phased withdrawal of F-15 C/D aircraft forward-deployed to Kadena Air Base over the next two years,” the Air Force said on Oct. 28 after the news had leaked. The Air Force F-15Cs and Ds are 38 years old on average, and no doubt they’re costly to maintain and keep airborne. Lt. Gen. David Deptula, a retired F-15 pilot, tells us these are the last active duty F-15C/D pilots in the Air Force, another limiting factor. Yet the F-15s are departing strategic real estate in the Western Pacific’s first island chain with no permanent replacement. The U.S. will “temporarily” deploy “newer and more advanced aircraft” on rotation, the Air Force says. The announcement promises a steady presence but says the Pentagon has “not made a decision on the long-term solution.” The Air Force initially planned to buy 750 F-22s, but former Defense Secretary Bob Gates shut down the production line at 187 jets. The services aren’t buying enough F-35s to pick up the load. Click here to read…
US carrier strike group heading for Europe – media
A US carrier strike group, led by new supercarrier USS Gerald Ford, is expected to anchor near Portsmouth in southern England in mid-November, the UK Defense Journal reported on Oct 30. The exact date of the flotilla’s arrival, which includes seven other warships, has not been announced publicly, the outlet noted. Releasing such data now “might not be the best idea from a security point of view,” it added. Some of the American vessels will dock at the Royal Navy’s Portsmouth naval base, while the USS Gerald Ford will have to anchor outside, at the roadstead in the Spithead area, due to its size, according to the outlet. The 333-meter carrier reportedly hosts some 90 planes and helicopters, including fifth-generation F-35C fighter-bombers. The USS Gerald Ford, commissioned by the US Navy in 2017, is the first ship of the similarly named Ford class, and is the largest aircraft carrier in the world. It began its maiden ‘service-retained’ deployment on October 4, departing from Norfolk, Virginia. The vessel visited its first international port on Friday, arriving in Halifax, Canada. According to the US Navy, the USS Gerald Ford has been conducting multinational maritime exercises in the Atlantic Ocean with such NATO allies as Canada, Spain, Denmark, the Netherlands and Germany.If reports of the US flotilla heading to British shores are confirmed, it will become the second American carrier strike group in European waters. Click here to read…
Iran protests about more than women’s rights
A month and a half has passed since nationwide protests started in Iran over the death of 22-year-old Mahsa Amini, after she was arrested by the country’s morality police for violating the hijab law requiring women to cover their hair in public. The protests spread from the capital, Tehran, to many cities in the country and are ongoing. Analysts say the public outcry is no longer just about women’s freedom. “Women’s freedom is clearly at the center of the protests, but decades of repression, economic misery, government corruption and mismanagement — all amplified by sanctions — have helped create the circumstances that have led to the current situation,” said Trita Parsi, executive vice president of Washington-based think tank the Quincy Institute for Responsible Statecraft. Iran’s workers are like a patient living only with 10% of their heart capacity, the chairman of the Wage Committee of the Center of Islamic Labour Councils in Iran, said recently. The International Monetary Fund predicts 40% inflation this year in Iran, roughly the same as last year. Many attending the protests are not against the Islamic Republic but are asking for reforms that can raise living standards. On Kish Island in the Persian Gulf, the protests center around living conditions more than the hijab. Click here to read…
White House explains Biden’s regime change comment
US President Joe Biden’s comments about freeing Iran were not meant as a statement of policy but an expression of solidarity with anti-government protesters, White House National Security Council spokesman John Kirby told reporters on Nov 04. Biden’s off-the-cuff remark at a Democrat fundraiser in California the evening before has already drawn condemnations from Tehran. “Don’t worry, we’re going to free Iran. They’re going to free themselves pretty soon,” Biden told those attending a party fundraiser at Mira Costa College near San Diego on Nov 03.He was “expressing our solidarity with the protesters,” Kirby told the White House press corps the following day, adding that any change of government in Tehran “has to be up to the people of Iran.”Asked if Biden’s comments reflected Washington’s assessment that the Iranian government is near collapse, Kirby said “We have no indication of that.” Speaking on Nov 04, Iranian President Ebrahim Raisi addressed Biden’s remarks by referring to the 1979 Islamic revolution in Tehran, which overthrew the pro-US monarchy “I’m telling Biden that Iran was freed 43 years ago,” said Raisi. Tehran has accused the US and its allies of instigating a wave of anti-government protests that started in mid-September, ostensibly over the death of a young woman in police custody. Click here to read…
North Korea fires 23 missiles; one lands near South for 1st time
North Korea fired at least 23 missiles into the sea on Nov 02, including one that landed less than 60 km (40 miles) off South Korea’s coast, which the South’s President Yoon Suk-yeol described as “territorial encroachment”.It was the first time a ballistic missile had landed near the South’s waters since the peninsula was divided in 1945, and the most missiles fired by the North in a single day. South Korea issued rare air raid warnings and launched its own missiles in response. The missile landed outside South Korea’s territorial waters, but south of the Northern Limit Line (NLL), a disputed inter-Korean maritime border. South Korean warplanes fired three air-to-ground missiles into the sea north across the NLL in response, the South’s military said. An official said the weapons used included an AGM-84H/K SLAM-ER, which is a U.S.-made “stand-off” precision attack weapon that can fly for up to 270 km (170 miles) with a 360-kg (800-lb) warhead. The South’s launches came after Yoon’s office vowed a “swift and firm response”.”President Yoon Suk-yeol noted North Korea’s provocation today was an effective act of territorial encroachment by a missile intruding the NLL for the first time since (the two Koreas’) division,” his office said in a statement. Click here to read…
Chinese spacecraft releases mystery object in orbit – US
A Chinese reusable rocket orbiting Earth has released another object into orbit, according to the US Space Force, which detected the unknown craft on Oct 31. According to the Orbital Focus website, the second object is probably traveling less than 200 meters from its parent.With little official information to go on, US experts believe the new object is related to a project funded by the Natural Science Foundation of China. Specifically, the paired craft may be involved in the development of an orbital segment on a fully reusable two-stage-to-orbit space transport system. The system’s suborbital component performed a second flight in September. Space watchers have hypothesized that the object may be a small satellite designed to monitor the larger craft, a service module, or the result of a test to see if the larger craft could successfully deploy satellite payloads. The “reusable experimental spacecraft” was launched August 4 from Jiuquan in the Gobi Desert, propelled by one of China’s Long March 2F rockets, and has been in orbit for three months. It is possible the object was released some time ago and only became visible when the spacecraft shifted its orbit slightly two weeks ago. Beijing has been characteristically silent on the nature and details of the mission, and it is not clear when the spacecraft will land or where. It is being developed by the China Academy of Launch Vehicle Technology. Click here to read…
Ransomware hackers hit Aussie defense communications platform
Hackers have targeted a communications platform used by Australian military personnel and defense staff with a ransomware attack, authorities said on Oct 31, as the country battles a recent spike in cyber-attacks across businesses. The ForceNet service, one of the external providers that the defense department contracts to run one of its websites, has come under attack but so far no data have been compromised, Assistant Minister for Defense Matt Thistlethwaite said.”I want to stress that this isn’t an attack or a breach on defense [technology] systems and entities,” Thistlethwaite told ABC Radio. “At this stage, there is no evidence that the data set has been breached, that’s the data that this company holds on behalf of defense.”But some private information such as dates of birth and enlistment details of military personnel may have been stolen, the Australian Broadcasting Corp reported, citing an unidentified source with knowledge of the investigation. Thistlethwaite said the government will view the incident “very seriously” and all defense personnel have been notified, with suggestions to consider changing their passwords. A Defense department spokesperson told Reuters in an emailed statement the department was examining the contents of the impacted data set and what personal information it contained. Click here to read…
Pakistan’s Imran Khan survives assassination bid as protests flare
Pakistan’s former Prime Minister Imran Khan survived an assassination attempt on Nov 03 after being shot in the leg while leading a protest march in Wazirabad, in the country’s Punjab province. The attack has triggered violent demonstrations across the country by the 70-year-old Khan’s supporters, some against military and government officials.Eight others, including two senior leaders of Khan’s Pakistan’s Tehreek-e-Insaaf (Movement for Justice, or PTI) party, were also injured, and one party worker was killed. The accused gunman, identified as Naveed Mohammad Bashir, was taken into custody by police after he was overpowered by a bystander. In a video confession to police leaked to the media, Bashir said he was inspired to kill Khan because he was “misleading” the country. However, Khan’s party has rejected the possibility of this being a lone wolf attack by a solitary gunman. Khan’s allies in the Punjab provincial government are investigating the possibility of more than one attacker and PTI leaders have alleged that Khan was targeted by automatic gunfire and not just the handgun used by Bashir. Khan’s physician and former Health Minister Dr. Faisal Sultan confirmed Khan’s injuries were not life threatening, but he had multiple bullet and shrapnel fragments in his right leg, with damage to his tibia. Click here to read…
Opium cultivation soaring since Taliban takeover – UN
Opium cultivation in Afghanistan, the largest grower in the world, has boomed since the Taliban assumed power in August 2021, the United Nations Office on Drugs and Crime (UNODC) revealed on Nov 01. Land under opium poppy cultivation in the country, rose 32% over the previous year to 233,000 hectares, according to the UN agency’s latest report. After a ban on opium cultivation and other narcotics was put in place in April, opium prices “soared,” the UNODC stated. As a result, the 2022 opium harvest, which was largely exempt from the Taliban’s decree due to there being a two-month grace period, became “the most profitable for farmers since 2017.” According to the report, “the income made by farmers from opium sales more than tripled” from $425 million last year to $1.4 billion in 2022. The latest figure represents 29% of the 2021 value of the country’s agricultural sector. The agency notes, however, that the higher profit has not necessarily increased the purchasing power of farmers – surging inflation has pushed the price of food up by about 35%. According to the UNODC, since the beginning of the Taliban’s rule, opiate trafficking from Afghanistan, which supplies some 80% of global opiate consumption, has been ongoing without interruption. Click here to read…
Analysis: Can Ethiopia iron out issues after AU peace deal?
On Nov 02, representatives of the Ethiopian federal and Tigrayan regional administrations signed a landmark ceasefire agreement to end a two-year civil war that has led to the death of thousands across the northern Ethiopian region – and displaced millions while hurting the economy. Coming on the eve of the war’s two-year mark, the breakthrough is the result of face-to-face negotiations mediated by an African Union (AU) delegation in Pretoria, South Africa for 10 days. “Today is the beginning of a new dawn for Ethiopia,” said former Nigerian President Olusegun Obasanjo, the AU’s lead envoy overseeing the talks, moments after Ethiopia’s lead negotiator Redwan Hussein and Tigrayan counterpart Getachew Reda signed and shook hands. Ethiopian Prime Minister Abiy Ahmed hailed the deal as a victory for Ethiopia and thanked the AU for spearheading the initiative.However, a day after its signing, local Tigrayan media reported that an Ethiopian drone attack had caused civilian casualties in the southern Tigrayan town of Maychew, which would be in violation of Article 3 of the agreement, raising doubts about Ethiopia’s willingness to commit to the terms. As per a joint statement published shortly after the signing ceremony, the warring parties had agreed to a cessation of all hostilities. Click here to read…
Arab League says Palestinian cause central, glosses over Israel
Arab leaders have closed their first summit meeting in two years by reiterating the centrality of the Palestinian cause, albeit avoiding to address their own splits over normalising ties with Israel. The final declaration that brought an end to the two days of the Arab League summit in Algiers on Nov 02 highlighted the bloc’s continued support for Palestinian statehood, the protection of sites in Jerusalem against Israeli violations and condemnation of Israel’s use of violence and its blockade of Gaza. The 22 member states, however, fell short of taking an open stance against Palestine’s occupying power. Al Jazeera’s Zeina Khodr, reporting from Algiers, said the Arab League had purposefully issued a “carefully crafted” communique.“This is a regional organisation that is deeply divided and polarised, so they were very careful with the words that they used,” Khodr said. “We heard leaders express support for the Palestinians and their right to statehood, but no condemnation of Israel.” The Arab League was created in 1945 to promote unity, but in recent years, it has been marred by increasing divisions. For decades, the group has been committed to establishing Palestine as an independent state, but its response has been fractured by issues including Iran’s influence, the civil war in Syria and the decision by some to normalise ties with Israel. Since the last Arab League summit in 2019, the United Arab Emirates, Bahrain, Morocco and Sudan have agreed to normalise diplomatic relations with Israel. Click here to read…
Health
World’s biggest iPhone assembly plant under quarantine
The Chinese authorities have ordered that a key industrial area in the city of Zhengzhou be quarantined. The decision throws a wrench into the works for Apple, as this will affect an iPhone assembly plant which is crucial for the rollout of the new 14 series. The Zhengzhou Airport Economy Zone (ZAEZ) was placed under “static lockdown” on Nov 02 for at least a week, according to a statement released by the local government. This means that all non-essential business and travel has been suspended in the district. People were ordered to work from home if possible, unless they join the volunteer forces for Covid-19 prevention. The move comes on the back of a reported exodus of workers from a plant in ZAEZ run by Foxconn Technology Group, which assembles iPhone devices. A video shared on Chinese social media last week shows people leaving the facility on foot because public transportation in the city was restricted over Covid-19 concerns. The factory employs around 300,000 workers. The walkout was apparently caused by an outbreak of the disease on the premises and fears of a full lockdown. Foxconn promised on Oct 30 to provide transportation for those who want to leave, as well as sanitary work conditions and daily PCR tests for those who wish to stay. Click here to read…
Uganda extends 3-week lockdown as Ebola outbreak spreads
Uganda on Nov 05 extended a 3-week lockdown on two districts at the center of an Ebola outbreak which has claimed over 50 lives, curbing travel and closing public places. Since the outbreak was declared in the central district of Mubende on September 20, the disease has spread across the East African nation, including the capital Kampala. Fifty-one deaths reported have been reported as of Nov 05, according to Ugandan authorities. The strain now circulating in Uganda is known as the Sudan Ebola virus, for which there is currently no vaccine, although there are several candidate vaccines heading towards clinical trials.The World Health Organization on Nov 02 said Uganda had registered over 150 confirmed and probable cases, including 64 fatalities.President Yoweri Museveni imposed a 21-day lockdown on Mubende and neighbouring Kassanda on October 15 but has said that nationwide curbs were not needed. On Nov 05, Health Minister Ruth Jane Aceng told reporters that “the lockdown of Mubende and Kassanda districts … will be extended for another 21 days. “These include a dusk-to-dawn curfew, a ban on personal travel and the closure of markets, bars and churches. Ebola is spread through bodily fluids, with common symptoms being fever, vomiting, bleeding and diarrhoea. WHO on Nov 02 warned that there was a high risk of Ebola spreading further and called on neighbouring countries to boost their preparedness. Click here to read…
