Asia Daily: April 27, 2024
News
Antony Blinken meets with China’s President Xi as US, China spar over bilateral and global issues. U.S. Secretary of State Antony Blinken's recent discussions with Chinese President Xi Jinping underscored the delicate balance of cooperation and contention between the U.S. and China. During his visit to Shanghai and Beijing, Blinken addressed critical issues including China's support for Russia's actions in Ukraine, human rights concerns, and the South China Sea tensions. Despite challenges, both sides recognized the importance of maintaining open lines of communication to manage disagreements responsibly. Matthew Lee, AP News, April 27
China hosts talks between rival Palestinian factions Hamas and Fatah in bid to end internal divisions: report. China is taking on a significant diplomatic role by hosting reconciliation talks between the rival Palestinian factions Hamas and Fatah. The discussions aim to resolve longstanding internal divisions and foster unity within the Palestinian political landscape. This initiative by China reflects its increasing involvement in Middle Eastern politics, seeking to stabilize the region and enhance its role as a global mediator. Zhao Ziwen, South China Morning Post, April 26
Yen sinks to 158 range vs. dollar, new 34-yr low. The Japanese yen has dropped to a new 34-year low, reaching the 158 range against the U.S. dollar, amid ongoing economic pressures and differing monetary policies between Japan and the United States. This significant depreciation highlights challenges within Japan's economy, including impacts on import costs and overall financial stability. The Bank of Japan's stance on maintaining low interest rates, in contrast to rising rates in the U.S., continues to influence the yen's weakening position. This currency fluctuation poses critical concerns for Japan's trade balance and economic policy moving forward. Kyodo News, April 27
Head of Vietnam’s parliament resigns amid corruption probe. Vuong Dinh Hue, the head of Vietnam's parliament, has resigned in the wake of a major anti-corruption campaign that has significantly impacted the country's political and business elites. Hue's resignation marks another major shift in Vietnam's leadership, following the earlier resignation of President Vo Van Thuong and former President Nguyen Xuan Phuc. While Hue has not been directly implicated in corruption, his resignation was noted as necessary due to violations that negatively affected the reputation of the Party and state. This political turbulence comes as Vietnam is striving to enhance its economic standing and attract more international investment, as emphasized during a recent visit by Apple CEO Tim Cook. AP News, April 27
Viet Nam treasures role of UNESCO: Foreign Minister. Vietnam's Foreign Minister has emphasized the country's high regard for UNESCO's role in fostering educational, scientific, and cultural initiatives globally. During a meeting with UNESCO representatives, the Minister highlighted the importance of UNESCO's contributions to promoting peace and sustainable development in Vietnam and beyond. Vietnam is committed to deepening its collaboration with UNESCO, underscoring the value it places on cultural heritage, education advancements, and scientific cooperation as pivotal elements in its national development strategy. Vietnam News, April 26
Argentinian foreign minister’s visit to China may signal effort to stabilise ties after President Javier Milei’s pivot to US. The visit of Argentina's Foreign Minister to China is seen as a strategic move to stabilize relations following President Javier Milei's recent alignment with the United States. This diplomatic engagement aims to reassure Beijing of Argentina's commitment to their longstanding partnership, despite the new U.S.-centric foreign policy direction. Laura Zhou, South China Morning Post, April 26
US, Taiwan to resume trade talks in Taipei starting on Monday. The United States and Taiwan are set to continue negotiations for their "21st Century" trade agreement in Taipei, starting next Monday. These talks, orchestrated by the U.S. Trade Representative (USTR) and the Taiwan Economic and Cultural Representative Office, aim to address complex issues such as agriculture, labor, digital trade, the environment, and state-owned enterprises. Beijing has criticized these engagements, which occur amid increased tensions and military activities around Taiwan. The U.S. maintains that the negotiations adhere to its one-China policy and the Taiwan Relations Act, emphasizing the defensive support for Taiwan. David Lawder, Reuters, April 26
Japan ready to take necessary steps on yen movements: finance chief. Japan's Finance Minister has affirmed the government's readiness to intervene in currency markets if necessary to address recent volatile movements of the yen. This statement comes as the yen has experienced significant fluctuations, prompting concerns about the impact on Japan's economy, particularly on exports and import costs. The finance chief emphasized that while Japan supports market-determined exchange rates, the government will not hesitate to take decisive actions to ensure stability and prevent excessive speculative movements. Kyodo News, April 26
DOJ: Arrest of former prison chief 'just a matter of time'. The Philippines' Department of Justice has stated that the arrest of the former prison chief is imminent, following allegations of corruption and mismanagement. This announcement underscores a significant crackdown on corruption within the nation's penal system, aiming to address longstanding issues of graft and illegal activities. The justice officials have indicated that all legal preparations are complete and an arrest could happen shortly, highlighting the government's commitment to reforming institutional integrity and accountability. Catherine S. Valente, The Manila Times, April 26
Fifth Thai-Lao Friendship Bridge to open in November. Thailand and Laos are set to enhance their cross-border connectivity with the opening of the Fifth Thai-Lao Friendship Bridge in November. This new infrastructure, spanning the Mekong River, aims to bolster economic, social, and cultural exchanges between the two nations. The bridge will facilitate easier and more efficient movement of goods and people, supporting local economies and tourism. This project not only strengthens the historical ties between Thailand and Laos but also contributes to the broader economic development goals of the region. Onnucha Hutasingh, Bangkok Post, April 26
Yoon names new chief of anti-corruption investigation office. South Korean President Yoon Suk Yeol has nominated Oh Dong-woon, a former judge and current lawyer, as the new head of the Corruption Investigation Office for High-ranking Officials (CIO). Selected from two candidates recommended by a parliamentary panel, Oh's appointment is now pending a parliamentary confirmation. This nomination follows the retirement of the inaugural CIO chief, Kim Jin-wook, who served a three-year term. Oh brings years of judicial experience, having served as a judge from 2002 to 2017, which could prove crucial in advancing the office's mission to tackle corruption among high-ranking officials. Lee Haye-ah, Yonhap News Agency, April 26
‘Neutral’ Border Guard Force helped Myanmar military retake Myawaddy: KNU. The Karen National Union (KNU) has reported that a supposedly neutral border guard force played a crucial role in assisting the Myanmar military to retake the strategic town of Myawaddy. This event raises concerns about the impartiality of forces that are expected to remain neutral in the ongoing conflict within Myanmar. Myawaddy, a key location due to its economic significance and proximity to the Thai border, has been a focal point of military and political struggle, highlighting the complex dynamics of Myanmar's internal conflicts and the involvement of various armed groups. Su Chay, Myanmar Now, April 26
PM Lee to meet Indonesia President Jokowi in Bogor for leaders' retreat on Apr 29. Singapore's Prime Minister Lee Hsien Loong is scheduled to meet with Indonesian President Joko Widodo at a leaders' retreat in Bogor on April 29. This annual meeting aims to strengthen bilateral relations and discuss collaborative projects between the two nations. Topics likely on the agenda include economic cooperation, environmental issues, and regional security concerns. These retreats have historically been pivotal in fostering close ties and aligning strategic interests between Singapore and Indonesia, highlighting the importance of dialogue and cooperation in addressing mutual and regional challenges. Tang See Kit, Channel News Asia, April 26
India votes in phase 2 of mammoth election as Modi raises campaign pitch. The second phase of India's extensive national elections is underway, with Prime Minister Narendra Modi intensifying his campaign efforts. This phase is critical as it involves millions of voters across multiple states deciding on key legislative positions that could influence the balance of power. Modi's campaign has been notably vigorous, focusing on national security, economic development, and his government's achievements. Al Jazeera, April 26
Long Form
After Zhao Leji’s Visit, What’s Next for China-North Korea Relations? The recent visit of Zhao Leji, a high-ranking member of the Chinese Communist Party, to North Korea underscores the evolving dynamics between China and North Korea amidst Pyongyang's strengthening ties with Russia. Despite the apparent recent closeness between North Korea and Russia, North Korea arguably stands to gain more from maintaining strong relations with China. This visit signals a possible reinvigoration of Sino-North Korean relations, as both nations may seek to deepen cooperation in economic, political, and military spheres to counterbalance their strategic vulnerabilities. Lee Sang-yong, The Diplomat, April 26
Why the Japan-US WMD in Space Resolution Was Critical. A recent United Nations Security Council resolution, co-sponsored by the United States and Japan, aimed to strengthen international norms against the deployment of weapons of mass destruction (WMD) in space. However, the resolution failed due to a veto from Russia, with China abstaining and Russia dismissing the proposal as a "propaganda stunt" by Washington. This resolution was critical as it sought to reaffirm and enhance existing treaties that prohibit the placement of nuclear and other WMDs in orbit. The failure of this resolution highlights the resistance faced by efforts to regulate militarization in space, posing significant challenges for global security and stability in an increasingly contested outer space domain. Rajeswari Pillai Rajagopalan, The Diplomat, April 26
Apple moves closer to China despite supply chain shifts. Apple is increasingly relying on Chinese suppliers even as it expands its manufacturing base into Southeast Asia and India. This comes despite the overall trend of diversifying supply chains away from China due to geopolitical tensions and trade uncertainties. A recent analysis of Apple’s supplier list revealed a decrease in suppliers from Taiwan, the U.S., Japan, and South Korea, with an increase in Chinese-based suppliers and manufacturing sites. This move shows the complex balance Apple must maintain between political pressures and business necessities, highlighting the intertwined nature of global supply chains and international relations. Cheng Ting-Fang and Lauly Li, Nikkei Asia, April 26
China grapples with the institutional future of the Belt and Road Initiative. China is confronting the challenges of institutionalizing the Belt and Road Initiative (BRI), as highlighted by President Xi Jinping’s proposal for more formal structures, including a secretariat for the Belt and Road Forum. Since its inception in 2013, the BRI has expanded rapidly, involving over 150 countries and numerous business deals, but it has faced criticism for lacking transparency, predictability, and institutional norms. This lack of formal governance structures has led to accusations of neo-colonialism and unsustainable debt practices among participating countries. Xi's push for more structured multilateral cooperation signals a shift towards addressing these institutional deficiencies, possibly making the BRI more sustainable and internationally credible in the long term. Yong Deng, East Asia Forum, April 26
Prabowo’s election heralds a more muscular Indonesian role on the regional stage. Prabowo's recent electoral victory in Indonesia, capturing 58.6% of the vote, signals a shift towards a more assertive regional role for the nation. Despite the success, the elections have been marred by concerns of democratic backsliding and irregularities, such as politicized social assistance programs and questionable judicial decisions. These issues cast doubt on the integrity of Indonesia's democratic processes and could influence the country's foreign policy, potentially affecting its long-standing relations with countries like Australia. As Indonesia potentially moves away from its democratic ideals, its foreign policy is expected to become more pragmatic and power-driven under Prabowo's leadership, emphasizing economic and military strength over democratic values. Rizky Ihsan and Muhamad Arif, East Asia Forum, April 26