Many expected Japan–Republic of Korea (ROK) relations to reset when the Shinzo Abe and Park Geun-hye administrations first came to power, but the past two years or so have seen further deterioration and pessimism.
The Labour leadership race is hotting up – and it is interesting to watch how the various candidates are going about convincing party members that they are fit to hold the reins of leadership. With runners and riders now all declared and primed for their first hustings, it is telling that they are all suffering, to various degrees, from anonymity problems.
The country is insisting that its creditors take a 40% haircut, or it threatens to declare a unilateral moratorium. Important but self-imposed deadlines are approaching. The country is not Greece but Ukraine.
The IMF initially insisted that Ukraine reach terms with its creditors before getting more assistance. However, it now signals that sticking with its program is more important that striking a deal with it creditors. If it must default to the latter, but adhere to the former, assistance will still be forthcoming.
The growing Sino–Russian partnership is evidence that the Western policy of isolating Russia has failed. The policy has only served to push Russia deeper into Chinese arms. Russia and China are planning to increase their engagement in Central Asia and they will coordinate their policies in the former Soviet territories in Eurasia.
The recent 2015 Shangri-La Dialogue focused on China, the United States and maritime security. However, those expecting fireworks in the wake of China’s new Defence White Paper and recent sharply worded speeches by US defence officials were left disappointed.
So far, 2015 is an eventful year for major-power politics. The European Union (EU) and China just held their fifth round of strategic dialogue talks. Chinese President Xi Jinping visited Moscow to mark the 70th anniversary of the end of World War II. German Chancellor Angela Merkel just visited visit Moscow in early May. In addition, the US–China Summit will be held in September in Washington. While the major powers’ diplomatic exchanges roll on, finding common ground for collaboration remains as important as ever.
Chinese investment in Sri Lanka is causing major problems for Sri Lanka’s President Mathripala Sirisena and has become a point of tension in Sri Lanka–China relations.
In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged, financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela, and North Korea, but the majority of energy related sanctions passed have been targeted at Iran and Russia.
An estimated 68 percent of Russia’s government revenue is derived from oil and gas exports, while 80 percent of Iran’s revenue comes from oil exports. That presents a very large target for the use of financial weapons.
The Occupy Hong Kong Movement was sparked by Beijing’s announcement of rules for the popular selection of Hong Kong’s Chief Executive in 2017. Essentially, Beijing would appoint a 1200-person committee that would vet the candidates and present 2-3 that would be on a ballot for Hong Kong citizens among which to choose.
There is a specter haunting Europe. A specter that rejects the status quo. Last weekend, Spain’s ruling PP lost majorities in all key municipalities and regional governments. The opposition itself is fragmented, and nine of the ten major municipalities will be run by what appears to be loose coalitions. One wag said that it was as if Spain got Italian political results with the Italians to manage it.
