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☆ Blinken Warns China Against Armed Attack on Philippines
▼ + stars: | 2024-03-19 | by ( Michael Crowley | ) www.nytimes.com time to read: +1 min

Secretary of State Antony J. Blinken warned China on Tuesday that an “armed” attack against Philippine vessels in the South China Sea would trigger a mutual self-defense pact between Washington and Manila, a reflection of rising tensions in the region that risk dragging the United States into armed conflict with Beijing. But in a sign that the United States hopes to de-escalate the situation, Mr. Blinken, on a visit to Manila, gave no indication that recent Chinese provocations — which include ramming Philippine vessels and blasting them with water cannons — crossed the threshold of “armed” attacks. Pressed during a news conference alongside his Philippine counterpart on how to deter what some analysts call China’s “gray-zone coercion tactics,” which Philippine officials say include aiming a high-powered laser at a Philippine Coast Guard vessel and temporarily blinding some crew members, Mr. Blinken pointed to diplomatic, not military, measures. “The very visibility of those actions, I think, has provoked from a number of other countries clear statements in support of the Philippines and against these provocative actions that are a threat to peace, security, freedom of navigation and basic rights under international law,” he said.

Persons: Antony J, Blinken, ” Organizations: Philippine, Philippine Coast Guard Locations: China, Philippine, South, Washington, Manila, United States, Beijing, Philippines

☆ Six more years of Putin will worry many countries. But not China
▼ + stars: | 2024-03-17 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

A stable relationship with Moscow, too, allows Beijing to focus on other areas of concern such as Taiwan and the South China Sea. “Xi sees Putin as a genuine strategic partner,” said Steve Tsang, director of the SOAS China Institute at the University of London, ahead of the Russian election results, adding that anything less than a landslide win for Putin would be “a disappointment” for Beijing. The Russian leader has weathered an apparent miscalculation that what his government still calls a “special military operation” in Ukraine would be a swift success. Jose Colon/Anadolu Agency/Getty ImagesWatchful BeijingBut that doesn’t mean countries tied to Moscow aren’t also watching the conflict in Ukraine carefully. That may be especially true for China, Russia’s most powerful strategic partner.

Persons: Hong Kong CNN —, Vladimir Putin’s, Xi Jinping, Xi, Putin, Jens Stoltenberg, ”, Steve Tsang, Mao Zedong, won’t, Putin’s, Kim Jong Un, Kim, Kim Jong, Sergei Shoigu, Yevgeny Prigozhin, he’s, Alexey Navalny, –, BRICS, Jose Colon, Moscow aren’t, “, Eurasia Li Hui, Wang Yiwei, Putin –, Li Organizations: Hong Kong CNN, Ukraine grinds, Kremlin, NATO, Washington, SOAS China Institute, University of London, Putin, Russia's, KCNA, Reuters, United Arab Emirates, Russian, Anadolu Agency, Getty, Moscow, Renmin University, Beijing, CNN Locations: China, Hong Kong, Russia, Taiwan, Beijing, Moscow, South China, North Korea, Russia’s Far, Washington, Pyongyang, South Korea, Iran, India, Ukraine, Vladivostok, Russian, United States, Brazil, South Africa, UAE, Ethiopia, Egypt, Russia’s Kazan, Crimea, Sochi, West, Israel, Gaza, Ukrainian, Eurasia, Europe, Beijing –

☆ Standing Up to China, Philippine Leader Courts New Network of Partners
▼ + stars: | 2024-03-16 | by ( Sui-Lee Wee | Camille Elemia | ) www.nytimes.com time to read: +1 min

With China aggressively asserting its claims on the South China Sea, President Ferdinand R. Marcos Jr. of the Philippines spent his first year on the job beefing up Manila’s alliance with its oldest ally, the United States. Mr. Marcos is adding a new intensity to his muscular foreign policy at a critical moment in his country’s territorial dispute with Beijing. In January, Mr. Marcos and the leaders of Vietnam, another country fighting off Chinese claims to the crucial waterway, pledged closer cooperation between their coast guards. This month, Mr. Marcos clinched a maritime cooperation deal with Australia. “It has to be recognized that the South China Sea handles 60 percent of the trade of the entire world.

Persons: Ferdinand R, Marcos Jr, Marcos, it’s, Mr Organizations: Maritime, Australia, South China, ASEAN, Association of Southeast Asian Nations Locations: China, Philippines, United States, Beijing, Vietnam, Europe, South, Berlin

☆ U.S. companies to announce over $1 bln of investments in the Philippines, Commerce Secretary Raimondo says
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

U.S. Commerce Secretary Gina Raimondo speaks during a Senate hearing in Washington, D.C., on May 16, 2023. American companies are set to announce investments amounting to more than $1 billion in the Philippines, U.S. Commerce Secretary Gina Raimondo said during an official visit to Manila on Monday. Raimondo is heading a two-day trade and investment mission, the first of its kind for the Philippines. The delegation includes executives from 22 companies including United Airlines , Alphabet's Google , Visa , KKR Asia Pacific, and Microsoft . United said last week it would launch new flights from Tokyo-Narita to Cebu, Philippines starting July 31.

Persons: Gina Raimondo, Raimondo, United, Joe Biden, Ferdinand Marcos Jr Organizations: Commerce, Washington , D.C, U.S . Commerce, United Airlines, Google, Visa, KKR Asia Pacific, Microsoft, U.S, Philippine Locations: Washington ,, Philippines, U.S, Manila, Tokyo, Narita, Cebu, China, South, Taiwan

☆ Problems in China have US intelligence worried the rising military power may become 'even more aggressive and unpredictable'
▼ + stars: | 2024-03-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

China may act "even more" aggressively and unpredictably thanks to its domestic problems, US intel said. China's demographic issues, as well as economic challenges, put its leadership and military in difficult positions. US intel suggested China's global leadership and military ambitions are meeting resistance. AdvertisementAs China grapples with mounting domestic challenges, its already concerning behavior on the world stage may become even more aggressive and unpredictable, according to US intelligence. "China's serious demographic and economic challenges may make it an even more aggressive and unpredictable global actor," the threat assessment said.

Persons: —, Xi Jinping, Yang Jie, That's Organizations: intel, Service, US Intelligence Community, National Intelligence, Pentagon, People's Liberation Army Navy, Getty, Democratic Progressive Party's, East China, East China Seas, Liberation Army, Chinese Communist Party, CCP, Force Locations: China, United States, China's, Zhanjiang, Guangdong Province, Xinhua, Taiwan, Beijing, South, East, East China Seas, Philippine, PRC, People's Republic of China, Hefei, Anhui province, COVID

☆ Intelligence Officials Warn of Losses for Ukraine Without More U.S. Aid
▼ + stars: | 2024-03-11 | by ( David E. Sanger | Julian E. Barnes | ) www.nytimes.com time to read: +1 min

Senior intelligence officials warned on Monday that without additional American aid, Ukraine faced the prospect of continued battlefield losses as Russia relies on a network of critical arms suppliers and drastically increases its supply of technology from China. In public testimony during the annual survey of worldwide threats facing the United States, the officials predicted that any continued delay of U.S. aid to Ukraine would lead to additional territorial gains by Russia over the next year, the consequences of which would be felt not only in Europe but also in the Pacific. “If we’re seen to be walking away from support for Ukraine, not only is that going to feed doubts amongst our allies and partners in the Indo-Pacific; it’s going to stoke the ambitions of the Chinese leadership in contingencies ranging from Taiwan to the South China Sea,” William J. Burns, the C.I.A. director, told Congress. The assessment marked a sharp turn from just a year ago, when Ukraine’s military appeared on the march and the Russians seemed to be in retreat.

Persons: ” William J, Burns Organizations: stoke Locations: Ukraine, Russia, China, United States, Europe, Taiwan, South China

☆ Analysis: China worried about return of Trump, but also sees opportunities if he wins 2024 election
▼ + stars: | 2024-03-10 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +15 min

Then-US President Donald Trump and his wife Melania with Chinese leader Xi Jinping and his wife Peng Liyuan at Beijing's Forbidden City in 2017. “If this decoupling is carried out by Trump 2.0 in a very forceful way, the impact on China is going to be very severe. But experts say China’s business and official sectors are likely already considering contingency plans. Chinese leader Xi Jinping and Russian President Vladimir Putin leave a reception following talks at the Kremlin in March 2023. “Whoever wins – the structure of (US) confrontation, competition, pressure to China are still there,” he said.

Persons: Joe Biden, Xi, Donald Trump, didn’t, –, Biden, Wang Yi, Trump, He’s, Trump’s, Brian Wong, ” Wong, Lintao Zhang, Obama, Melania, “, Xi Jinping, Peng Liyuan, Xie Huanchi, he’s, ”, Bala Ramasamy, Shen Dingli, Premier Li Qiang, Ronald Reagan, “ Biden, Shen, ” Trump, skeptically, Vladimir Putin, Putin, Pavel Byrkin, Wong, it’s, Wang Yiwei Organizations: Beijing CNN —, Communist Party, Biden, Senior, Trump’s “, University of Hong Kong’s, Contemporary, House, oceanside, Trump, of, Forbidden, Huawei, Oxford Economics, China Europe International Business School, Premier, American, South Korea Navy, Asia –, Russia’s, NATO, Europe, Kremlin, Getty, South Korea –, White House, Renmin University Locations: China, Beijing, State, US, Russia, Communist, Contemporary China, Taiwan, Lago, City, Xinhua, Shanghai, Southeast Asia, Latin America, Europe, China's Qingdao Port, –, Asia, Seoul, Tokyo, Ukraine, United States, AFP, Japan, South Korea, America, Washington, Hong Kong, South China

Chinese Foreign Minister Wang Yi in 2019. Mark Kauzlarich | ReutersBEIJING — China's top diplomat slammed the U.S. for worsening bilateral tensions, while reiterating Beijing's support for peaceful resolutions to the Israel-Palestine and Russia-Ukraine conflicts. Wang said the U.S. has been devising "new ways to suppress China," saying U.S. accusations against China had reached an "unbelievable degree." While he said he sees a way forward for both countries, Wang said communication between both countries may only continue by respecting and recognizing differences. After the unexplained dismissal of Qin Gang as foreign minister in July last year, Wang reassumed the role.

Persons: Wang Yi, Mark Kauzlarich, Joe Biden's, Biden, Joe Biden, Xi Jinping, Wang, Qin, Wang reassumed, hasn't, Xi's, Lai Ching Organizations: Reuters, Reuters BEIJING —, China -, CNBC, Communist Party of, Qin Gang, United Nations, Democratic Progressive Party Locations: Reuters BEIJING, Israel, Palestine, Russia, Ukraine, China, China - U.S, San Francisco, South China, U.S, Gaza, Beijing, Taiwan, South

☆ MH370 investigation: 10 years on, is the world any closer to finding Malaysia Airlines flight?
▼ + stars: | 2024-03-07 | by ( Chris Lau | ) edition.cnn.com time to read: +12 min

A helicopter takes off from Chinese warship Jinggangshan during an early search for the missing Beijing-bound Malaysia Airlines flight 370 on March 11, 2014. Beijing-bound Malaysia Airlines flight 370 dropped off the radar shortly after departing Kuala Lumpur in the small hours of March 8, 2014. Families of passengers from China and Malaysia on board MH370 during a remembrance event commemorating the 10th anniversary of its disappearance, in Subang Jaya, Malaysia, on March 3, 2024. Hasnoor Hussain/ReutersAviation experts tell CNN that improved detection technology will likely bring families closer to the missing plane than they ever have been, if a search were to be relaunched. Phoenix Autonomous Underwater Vehicle (AUV) Bluefin-21 is craned over the side of Australian Defense Vessel Ocean Shield in the search for missing Malaysia Airlines flight 370 on April 14, 2014.

Persons: MH370, Jiang Hui, ” Jiang, “, ”, Jiang Cuiyun, It’s, V.P.R Nathan, Anne Daisy, Hasnoor Hussain, Anthony Loke, Grace Subathirai Nathan, Adli Ghazali, Oliver Plunkett, it’s, ” Geoffrey Thomas, AirlineRatings.com, Leut Kelli Lunt, Richard Quest, Richard Godfrey, Godfrey, Fred Dufour, AirlineRatings’s Thomas, ” Godfrey, “ I’m, Sarah Bajc, Phil Wood, Bajc, Jiang Organizations: CNN, Malaysia Airlines, Reuters, Reuters Aviation, Malaysian, Transport, Malaysian Transport, Anadolu Agency, Getty, Boeing, Underwater, Australian Defense, Australia Department of Defence, CNN’s, Aviation, Radio, British Aerospace, MH370, British Locations: Beijing, China, Kuala Lumpur, Africa, Malaysia, Subang Jaya, United States, Madagascar, Putrajaya, Australia, Malaysian, Perth, AFP, Asia, Panama, Zhuji

☆ China and Russia are outpacing the US and its allies in military technology development, Australian defense official warns
▼ + stars: | 2024-03-06 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

An Australian defense official is warning about military tech gaps between the US and China. AdvertisementThe US and Australia must reinforce their industrial partnership and step up military preparations in the Indo-Pacific region amid China's increasingly aggressive behavior in the South China Sea, a high-ranking Australian defense official said this week. Jeffrey's comments come after years of rising tensions in the Indo-Pacific region. Advertisement"Russia and China are outpacing the US and its allies," Jeffrey said, according to the outlet, which noted that he was discussing military technology. AdvertisementThe Department of Defense said in a recent China Military Power Report that China is "the only competitor" to the US with the intent and capacity to change the global order.

Persons: —, Hugh Jeffrey, Jeffrey, Biden Organizations: Service, Industry, Center for Strategic, International Studies, China Morning Post, Navy, US, US Army, BI, of Defense Locations: China, Asia, Australia, South China, Washington, DC, Russia, Taiwan, Indonesia

☆ South China Sea: On board an outnumbered Philippine ship facing down Chinese aggression
▼ + stars: | 2024-03-06 | by ( Rebecca Wright | Ivan Watson | ) edition.cnn.com time to read: +15 min

Near Second Thomas Shoal, South China Sea CNN —As dawn slowly broke on the horizon, a large fleet of Chinese vessels came into view from the deck of a Philippine Coast Guard ship as it entered the contested waters of the South China Sea. Filipino soldiers on the dilapidated Sierra Madre ship, anchored near the Second Thomas Shoal in the South China Sea, on May 11, 2015. The US military also maintains a regular presence in the South China Sea, with aircraft overflights, so-called “freedom of navigation” operations, and patrols and exercises with allies and partners to assert that the South China Sea is an international waterway. The Philippine Coast Guard said it counted five China Coast Guard vessels and 18 boats belonging to Beijing’s “maritime militia." Rebecca Wright/CNNTarriela, the Coast Guard spokesperson, said a China Coast Guard vessel had come within 20 yards (60 feet) of the Cabra.

Persons: David, Goliath, “, ”, Thomas Shoal, Rebecca Wright, Sabina, Ritchie, Jiao, –, Jay Tarriela, Mao Ning, China Coast Guard “, Thomas, Ferdinand “ Bongbong ” Marcos Jr, Rodrigo Duterte, Marcos Jr, Jose Manuel Romualdez, CNN Tarriela, Tomas Etzler, Erik de Castro, month’s, ” Tarriela, ‘, Collin Koh, ” Koh, Ray Powell, SeaLight, “ Will, ” Powell, we’ve Organizations: South China, CNN, Philippine Coast Guard, Philippine, Armed Forces, China Coast Guard, ” CNN, Philippine Navy, Coast Guard, Foreign Ministry, Sierra Madre, Center for Strategic, Studies, China Power, Ministry, Washington, Philippine News Agency . Diplomacy, Coast Guardians, Guard, Madre, Reuters, USS, China, Rajaratnam, of International Studies, National Security, Stanford University Locations: South, South China, Philippines, United States, Philippine, China, Bulilyan, Palawan, Sierra Madre, Sierra, The Philippines, Vietnam, Malaysia, Brunei, Taiwan, Madre, Hague, Beijing, China’s, Manila, Shanghai, Singapore

☆ China says military spending growth in 2024 to stay the same as last year at 7.2%
▼ + stars: | 2024-03-05 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

This year's military budget announcement comes against the backdrop of several generals from the People's Liberation Army, including the country's previous Defense Minister Li Shangfu, losing their positions amid President Xi Jinping's broad anti-corruption probe in the past year. China's 2024 military budget expansion follows a 7.2% increase last year, a 7.1% spike in 2022, 6.8% increase in 2021, 6.6% climb in 2020 and 7.5% growth in 2019, according to official data. China's official military budget is second only to the United States in the world, though some unofficial estimates suggest the scale of Beijing's military spending may be larger than officially claimed. China maintains its claims over self-governed Taiwan and President Xi Jinping regards reunification as a "historical inevitability." Beijing has also taken offence at joint exercises and patrols that U.S. and other Western naval powers have conducted with various Asian nations in international waters that Beijing claims as its own.

Persons: Li Shangfu, Xi, Xi Jinping, — Organizations: Reuters, People's Liberation Army Locations: China, Beijing, United States, Taiwan, The Hague, South China, India, South

☆ Why Australia keeps an arm’s length from South China Sea tensions, even as it draws closer with the Philippines
▼ + stars: | 2024-03-04 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +8 min

CNN —When Philippine President Ferdinand Marcos Jr. addressed the Australian Parliament last week there was no mistaking the fighting talk. The Philippines accused China's coast guard of setting up the barrier at the mouth of the disputed fishing ground. That meeting will also be attended by several other nations with territorial disagreements with China – including Vietnam, Brunei and Malaysia. Collin Koh, research fellow at the S. Rajaratnam School of International Studies in Singapore, said Australia was unlikely to back any tough language at the summit pertaining to the South China Sea or any other hot-button issue. As Bisley put it, “We don’t like what China does, but we’re not going to put ourselves in harm’s way.”

Persons: Ferdinand Marcos Jr, ”, Marcos, Rodrigo Duterte, –, Thomas Shoal, David, China’s, Marcos ’, China –, Scott Morrison, Collin Koh, Penny Wong annouced, Anthony Albanese, Albanese, Lukas Coch, Susannah Patton, it’s, ” Patton, China’s aggressions, Wang Wenbin, Nick Bisley, Bisley, we’re Organizations: CNN, Maxar, Association of Southeast Asian Nations, ASEAN, China, Rajaratnam, of International Studies, Australia, Australian, Partners, Reuters, South China, Southeast Asia, Lowy Institute, China’s Ministry of Foreign Affairs, La Trobe University Locations: Philippines, China, South China, Manila, China’s, Philippine, Scarborough, Scarborough Shoal, Hague, United States, Canberra, Australia, Melbourne, Vietnam, Brunei, Malaysia, Beijing, Singapore, South, Penny Wong annouced Canberra, Southeast Asia, Japan, India

☆ 'Strategic convergence' defines Philippine-Australia partnership, analyst says
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Strategic convergence' defines Philippine-Australia partnership, analyst saysAbdul Rahman Yaacob, research fellow at the Lowy Institute's Southeast Asia Program, discusses the implications that their strategic partnership might have for South China Sea relations, saying that "strategic convergence" entails "maritime security, freedom of navigation" and closer military cooperation.

Persons: Abdul Rahman Yaacob Organizations: Lowy, Asia Program, China Locations: Philippine, Australia

☆ China's Premier Li urges stronger economic, trade ties with U.S.
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: +1 min

China's Premier Li Qiang attends a meeting with US Climate Envoy John Kerry at the Great Hall of the People in Beijing on July 18, 2023. China and the United States should strengthen economic and trade ties and Washington should avoid decoupling from China, Chinese Premier Li Qiang said on Wednesday, during a meeting with a visiting U.S. delegation, Chinese state radio reported. "Strengthening economic and trade cooperation is a win-win situation for both countries," Li told the delegation led by Chamber of Commerce chief Suzanne Clark. Li said U.S. companies were welcome to continue investing in China and that barriers were not in the fundamental interests of both sides. Ties are still recovering after the United States downed an alleged Chinese spy balloon a year ago.

Persons: Li Qiang, John Kerry, Li, Suzanne Clark, Clark Organizations: US, of, People, Chamber of Commerce, United Locations: Beijing, China, United States, Washington, U.S, loggerheads, Taiwan, South

☆ Satellite images reveal floating barrier at mouth of disputed atoll in South China Sea
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +1 min

Satellite images of the hotly disputed Scarborough Shoal in the South China Sea show a new floating barrier across its entrance, near where Philippine ships and China coast guard vessels have had frequent run-ins. China claims the Scarborough Shoal, although it is inside the Philippines' 200-nautical mile exclusive economic zone. An international arbitration tribunal in the Hague said in 2016 that China's claims had no legal basis — a decision Beijing has rejected. That makes the atoll one of Asia's most contested maritime features and a flashpoint for diplomatic flare-ups over sovereignty and fishing rights. The satellite image bolsters a report and video distributed by the Philippine Coast Guard, or PCG, on Sunday showing two Chinese coast guard inflatable boats deploying floating barriers at the shoal's entrance on Feb 22.

Persons: BRP Datu Tamblot, Hague, China's Organizations: Philippine Bureau of Fisheries, Aquatic Resources, BRP Datu, Maxar Technologies, Reuters, Fisheries, Philippine Coast Guard Locations: China, Scarborough, South China, South, Philippine, Philippines, Beijing

☆ War in the Pacific wouldn't be all aircraft carriers and air power, and a top general says the US Army won't be sitting on the sidelines
▼ + stars: | 2024-02-24 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

The US Army would play a pivotal role should conflict arise in the Pacific, a top general told Business Insider. While maritime and air power are vital, the US Army and its allies "bind the region together." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It is a Joint theater, with joint challenges, that require both Joint and multinational solutions!" USARPAC is the Army's largest theater army and covers the Army's largest region of operation, making its involvement in the area critical should war unfold.

Persons: —, Charles Flynn, USARPAC, Flynn, Molly Treece, China's, Keon Horton Organizations: US Army, Business, Service, US Army Pacific, Pentagon, East China, Paratroopers, 2nd Infantry Brigade Combat Team, 11th Airborne Division, Boeing, Donnelly Training, Delta Junction, U.S, Army, Pacific Command, 3rd Battalion, 509th Parachute Infantry Regiment, Pacific Multinational Readiness Locations: Pacific, China, Wainwright, Fairbanks , Alaska, Taiwan, South, East, Delta, AK, Alaska, Hawaii

☆ US Army soldiers are working closer than ever with allies in the Pacific to counter China's 'aggressive, insidious' ways, top general says
▼ + stars: | 2024-02-22 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementU.S. Army Gen. Charles Flynn, Commander of the U.S. Army Pacific, speaks with soldiers from the 1st Infantry Brigade Combat Team, 11th Airborne Division, during Joint Pacific Multinational Readiness Center 24-02 at Donnelly Training Area, Alaska, Feb. 15, 2024. This month, US Army Pacific conducted its JPMRC training rotation in Alaska, where thousands of troops are trained to wage war in frigid, Arctic conditions. The Joint Pacific Multinational Readiness Center also does a training rotation in Hawaii, where troops conduct exercises in the jungle. That training is also conducted with a host of US allies and partners in the Pacific.

Persons: —, Army Pacific's, IPACC, Gideon Battis Gen, Charles A, Flynn, he's, Charles Flynn, Mike Godinez, Martinez, USARPAC, Joseph A, Ryan Organizations: Service, US Army, Pacific Multinational Readiness, Army, Business, Pentagon, Department of Defense, People's Liberation Army, Navy, Rocket Force, East China Seas, Combat, US Army Pacific, U.S . Army Pacific, 1st Infantry Brigade Combat Team, Airborne, Donnelly Training, U.S, Talisman, Talisman Sabre, Pacific Multinational Readiness Center Locations: China, Pacific, Australia, Alaska, Hawaii, People's Republic of China, United States, Philippines, Taiwan Strait, East, South Korea, Japan, Thailand

☆ A fund manager beating 98% of his peers over the last 10 years breaks down why the stock market resembles the 'Nifty 50' bubble of the 1970s, when the market's biggest names got crushed as inflation s
▼ + stars: | 2024-02-22 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Disco is backOthers have also started to compare today's market and the 1970s' "Nifty Fifty." AdvertisementJPMorgan's Chief Global Strategist Marko Kolanovic also said in a note on Wednesday that fiscal spending and inflation could resemble the 1970s landscape. Similar to the 1970s, there are currently 3 active geopolitical conflict zones – eastern Europe, Middle East, and South China Sea," Kolanovic said. Kolanovic included in his note the chart below, which shows the correlation between inflation and the performance of the S&P 500.

Persons: —, Albert Edwards, Bank of America's Michael Hartnett, Jeffrey Gundlach, Cole Smead, Smead, Sears Roebuck, Alphabet's, Nvidia's, Microsoft's, Jeremy Siegel, David Rosenberg, Merrill Lynch, " Rosenberg, Marko Kolanovic, Kolanovic Organizations: Service, Societe Generale, Bank of America's, Treasury, Nasdaq, DoubleLine, Investments, Business, Morningstar, Microsoft, Nvidia, Xerox Locations: Europe, Middle East, South China

☆ China’s coast guard has triggered ‘panic’ in Taiwan. That’s only part of Beijing’s plan
▼ + stars: | 2024-02-21 | by ( Nectar Gan | Wayne Chang | ) edition.cnn.com time to read: +7 min

“It’s super scary,” a passenger told Taiwan’s United Daily News in a video upon returning to shore under the escort of a Taiwanese coast guard ship on Monday. “(The Chinese coast guard) chose a tourist vessel because it’s high profile – you would expect lots of people on the boat with cameras and phones,” he said. The stakes are high, as the increased presence and closer proximity of Chinese and Taiwanese coast guard vessels raise the specter of miscalculations that could potentially spiral into open conflict. Speaking to reporters about the inspection by the Chinese coast guard, Taiwan’s Defense Minister Chiu Kuo-kcheng highlighted such risks, saying the defense ministry is “very concerned” about potential miscalculations. Taiwan's coast guard inspects a vessel that capsized during a chase off the coast of Kinmen on February 14, 2024.

Persons: King Xia, ” Kuan, Taiwan’s, Ian Chong, Chong, ”, “ They’re, Chiu Kuo, Lai Ching, China’s, Nancy Pelosi’s, Tian Feilong, It’s, Tian, “, Lai Organizations: Taipei CNN, Taiwan’s United Daily News, Taiwan’s Ocean Affairs Council, Democratic Progressive Party, National University of Singapore, South China, Taiwan’s, Taiwan Coast Guard Administration Locations: Hong Kong, Taipei, Taiwanese, Kinmen, China’s, Beijing, Taiwan, Xiamen, China, East, South, Taiwan's, Nauru, Taiwan Strait

☆ Australia unveils plan for largest navy buildup since World War II
▼ + stars: | 2024-02-20 | by ( Brad Lendon | ) edition.cnn.com time to read: +6 min

CNN —Australia on Tuesday announced plans to build its largest navy since World War II, allocating more than $35 billion for the defense project over the next 10 years, in a move analysts said pointed to heightened tensions with China in the Indo-Pacific. The independent review noted Australia had “the oldest fleet Navy has operated in its history,” according to the government statement. John Bradford, Council on Foreign Relations international affairs fellow, said Australia would need to be steadfast in sticking with the plan. “This investment provides a clear pathway for the shipbuilding industry and workforce in South Australia and Western Australia,” the release said. However, the opposition Greens party called the plan a “multi-billion-dollar mistake” driven by local political concerns to protect shipbuilding jobs – and political ones.

Persons: ”, Mark Hammond, Collin Koh, ” Jennifer Parker, Parker, John Bradford, Bradford, Andrew Hastie, ” Hastie, that’s, ” Koh, Pat Conroy, Sen, David Shoebridge, CNN’s Angus Watson, Hilary Whiteman Organizations: CNN, Australia, Royal Australian Navy, US Navy, Navy, Rajaratnam, of International Studies, UNSW Canberra, Australian Broadcasting Corporation, ABC, Hobart, Foreign Relations, Greens, ” Greens Locations: China, Australia, United States, United Kingdom, Singapore, South, Northeast Asia, Japan, South Korea, Germany, Spain, Australian, South Australia, Western Australia

☆ Chinese fishing vessels are going scorched earth and pumping cyanide into contested waters, Philippine fishing authority says
▼ + stars: | 2024-02-19 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

The bureau on Saturday accused Chinese vessels of pumping cyanide into the shoal's waters. AdvertisementThe Philippines' fishing bureau has accused Chinese fishing vessels of using cyanide to destroy the Scarborough Shoal, a fish-rich atoll in the South China Sea contested by both Manila and Beijing. Cyanide fishing is a controversial fishing method that typically involves dumping the highly toxic chemical near coral reefs or in fishing grounds to stun or kill fish so they can be easily captured. Notably, the Philippines' fishing industry was known to use cyanide fishing back in the 1960s to capture live fish for aquariums and restaurants, though the practice has become less common. The Scarborough Shoal is contested by The Philippines, China, and Taiwan.

Persons: —, Nazario Briguera, Brigeura, Briguera, hadn't, Jay Tarriela, Guo Shoujing, Hague Organizations: Service, Bureau of Fisheries, Aquatic Resources, The Philippine, Philippine, Scarborough, Philippine Star, ROSA, GMA, Philippine Coast Guard, Conservation, Education Foundation, Global Times, The, TED, Getty, Google, Fisheries, Business Locations: Philippines, China, Scarborough, South, Manila, Beijing, Masinloc, Spanish, Scarborough Shoal, AFP, Bajo de, Cebu, South China, Taiwan, The Philippines, Quezon City, Philippine

WASHINGTON (AP) — U.S. lawmakers are raising alarms about what they see as America’s failure to compete with China in biotechnology, warning of the risks to U.S. national security and commercial interests. Bills have been introduced in the House and Senate to bar “foreign adversary biotech companies of concern” from doing business with federally funded medical providers. Photos You Should See View All 33 ImagesCritics of the legislation warn that restrictions on Chinese companies would impede advances that could bring a greater good. “It’s not just a supply chain battle or a national security battle or an economic security battle; I would submit it’s a moral and ethical battle,” Gallagher said. He said any restrictive U.S. measures should be tailored to address military concerns and concerns about genomic data security.

Persons: walling, ”, Abigail Coplin, Rachel King, Mike Gallagher, Gallagher, “ It’s, ” Gallagher, “ we’re, Biden, Tom Bollyky, Bollyky, Ray Yip, Yip, “, Anna Puglisi, Puglisi, ” Puglisi, BGI, WuXi AppTec, Dake Kang Organizations: WASHINGTON, — U.S, Biotechnology, Bills, Embassy, Biden, Vassar College, Biotechnology Innovation Organization, National Security Commission, Emerging Biotechnology, U.S . Senate, Chinese Communist Party, Wisconsin Republican, “, Bloomberg, Council, Foreign Relations, U.S . Centers for Disease Control, Georgetown University’s Center for Security, Emerging, The Defense Department, Commerce Department, Associated Press Locations: China, U.S, ”, South China, Wisconsin, Boston, United States, WuXi, Beijing

☆ Prabowo Subianto: Once banned from the US, this fiery ex-army general is poised to lead Indonesia
▼ + stars: | 2024-02-19 | by ( Heather Chen | ) edition.cnn.com time to read: +13 min

“The most important objective of democracy is giving people the leaders and representatives they want,” Prabowo told reporters from his pool. Antara Foto/Galih Pradipta/ReutersMany are excited about a Prabowo presidency, like this hardcore supporter who has clearly taken his support to the extreme. Bagus Saragih/AFP/Getty ImagesMore recently, Prabowo has presented himself as a loyal Jokowi ally, serving as his defense minister for the past five years. Experts say Prabowo, known for his fiery speeches, military background and combative past will make for a very different kind of president. Indonesia has long been one of Australia’s most important bilateral relationships and experts say that will not change with Prabowo in charge.

Persons: Prabowo Subianto, ” Prabowo, Prabowo, Indonesia’s, Partai Probawo, Gibran, “ Prabowo, ”, Zachary Abuza, Abuza, “, Antara, Pradipta, Saragih, Widodo, Barack Obama, Tom Pepinsky, Rodrigo Duterte, Javier Milei, Trump, ” “, Dita Alangkara, Jokowi, Jacqui Baker, Laura Schwartz, Schwartz, Gibran Rakabuming Raka, Adek Berry, Chong Ja Ian, Suharto, –, Dan Slater, Prabowo “, ” Slater, Chaideer Mahyuddin, Chong, Juni Kriswanto, Usman Hamid, Papuans, Veronica Koman, ” Koman Organizations: CNN, National War College, Getty, Southeast Asia, Cornell University, “, Center, Research, Senior Southeast, National University of Singapore, Center for Emerging Democracies, University of Michigan, Muda Airforce, Amnesty International Locations: Jakarta, United States, South Jakarta, Washington ,, AFP, Indonesia, Singapore, Ukraine, Russia, China, Australia, Asian, Perth, Asia, Beijing, Washington, “ Washington, Sultan, Muda, Aceh, West Papua, South China, Tentara Nasional Indonesia, Southeast Asia, “, Papua, Amnesty International Indonesia, restive, Indonesian, East Timor

MUNICH (AP) — Top diplomats from the U.S. and China on Friday held a “candid and constructive” discussion on issues vexing their strained relations over Taiwan, the situation in the South China Sea, Russia’s war against Ukraine and synthetic opioids, the State Department said. State Department spokesman Matthew Miller said Blinken had emphasized the importance of maintaining peace in the Taiwan Strait as well as expanding on nascent counternarcotics efforts. Blinken also raised concerns about China's support for Russia’s defense industrial base that Washington sees as helping Moscow’s military operations against Ukraine. “The two sides had a candid and constructive discussion on a range of bilateral, regional and global issues as part of ongoing efforts to maintain open lines of communication and responsibly manage competition in the relationship,” Miller said. Photos You Should See View All 33 Images“Both sides recognized the importance of maintaining open lines of communication between the United States and (China) across a range of strategic issues, including consultations and high-level meetings in key areas in the coming months,” he said.

Persons: Antony Blinken, Wang Yi, Joe Biden, Matthew Miller, Blinken, ” Miller, Blinken “, ” Organizations: —, State Department, Foreign, Munich, California . State Department, Washington, Ukraine, North Locations: MUNICH, U.S, China, Taiwan, South China, Ukraine, California ., Taiwan Strait, United States, North Korea

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