For at least a decade, developing countries across Asia and Africa have worried about growing dependent on China. They’re concerned about debt traps, coercive policies,...
Speaking in New Delhi last week, Deputy Secretary of State Christopher Landau warned that “we will not make the same mistakes with India that we did with China 20 years ago.”
Why should the US care? Because in the end, as its wrangle with Britain this week should have reminded them, America still needs bases, friendly ports, & overfly rights.
The US has turned to the Kurds whenever it has needed allies on ground— in Iraq, in Syria, & now perhaps in Iran. Rarely has it worked out well, either for them or the region.
While the 1970s and 2022 shocks supercharged US inflation, a sustained conflict with Iran would primarily hit the American economy through slower growth.
Exports to the UAE, Gulf remittances and shipping are at risk as the Strait of Hormuz is closed. A weaker rupee, and soaring gold liabilities could stoke inflation.
The Middle East isn’t about to trigger an oil shock. It may be a wobble, perhaps a tremor, it may even get nasty, but the economy isn’t heading into recession.
The funniest part about pig politicisation is that it is based on ignorance. Hindus and Christians can eat all the pork they want and keep pigs as pets—that does not bother Muslims.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
Debt traps, coercive diplomacy, hidden costs. China has overcome many prejudices since it started its trek to greatness. Recall currency manipulation, unfair state subsidies, theft of technology. All that is passé now. China is competing on a level playing field, within the framework of the WTO. It is USA which has disabled WTO’s appellate mechanism by blocking the appointment of Judges. Obstructs free trade by imposing NON reciprocal tariffs. 10 / 15 / 20% for the most friendly countries.
Debt traps, coercive diplomacy, hidden costs. China has overcome many prejudices since it started its trek to greatness. Recall currency manipulation, unfair state subsidies, theft of technology. All that is passé now. China is competing on a level playing field, within the framework of the WTO. It is USA which has disabled WTO’s appellate mechanism by blocking the appointment of Judges. Obstructs free trade by imposing NON reciprocal tariffs. 10 / 15 / 20% for the most friendly countries.