The Broad Mind | Daily Update: September 5, 2013

China enhanced strategic cooperation with ASEAN

The tenth China-ASEAN (Association of South East Asian Nations) Expo and the China-ASEAN Business and Investment Summit took place in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region. Chinese Premier Li Keqiang claimed that China along with ASEAN would create a diamond decade for the future. China is the largest trading partner of the ASEAN, while the ASEAN ranks as China’s third-largest trading partner. The summit aimed to upgrade the China-ASEAN Free Trade Area and China conveniently downplayed the South China Sea dispute which involves most of the ASEAN nations and said it will not affect China-ASEAN relations on the whole. Given China’s insensitive or aggressive policies towards smaller countries, and how China exploits Myanmar as its colony, China at the summit however assured to make joint efforts to safeguard prosperity and security in border regions with Myanmar.

India- Iran oil diplomacy

In order to counter the rapid currency depreciation owing to negative impact of the Fed’s actions, the emerging economies will make use of the G-20 summit that starts from September 5, in order to formulate a pragmatic response to their crisis. India, on its part, tried to save up on its dollar liability by preparing to discuss local currency trading with its non-U.S. trade partners. India was not keen on military strike on Syria because of certain vested interests such as India’s oil needs from Iran. According to Oil Minister M. Veerappa Moily, India planned to save over $8.5 billion in foreign exchange by re starting crude oil imports from Iran. However, there was a diplomatic deadlock between Iran and India over the detention of MV Desh Shanti oil tanker that leaked oil and caused pollution in the Persian Gulf, a claim which Indian officials denied.

China and Central Asia energy cooperation

Chinese President Xi Jinping and his Turkmen counterpart Gurbanguly Berdymukhamedov jointly announced the completion of the first-phase construction of the Galkynysh gas field, located in the south of Turkmenistan. Turkmenistan and China enhanced cooperation in areas such as natural gas exploitation and transmission, and global energy security. The Chinese President will later meet with counterparts from the Shanghai Cooperation Organisation, a grouping set up to counterbalance US and NATO influence in the area, led by China and Russia and includes the four Central Asian nations.

Syrian refugees cross two million: UN report

UN High Commissioner for Refugees said Syria had become “a disgraceful humanitarian calamity with suffering and displacement unparalleled in recent history, with an estimated 5,000 Syrians fleeing their homes every day”. More than 97 per cent of Syria’s refugees are hosted by countries in the immediate surrounding region like Iraq, Jordan, Lebanon, and Turkey, placing an overwhelming burden on their infrastructures, economies and societies. Lebanon is a main route for aid delivery into Syria making the closure of borders or the outbreak of war in Lebanon a particular concern. The World Bank collaborated with U.N. agencies, the EU, and other partners to assess the impact of the refugee influx on Lebanon.

Daily updates are brought to you by Divya Gangadar at the Takshashila Institution.

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DISCLAIMER: This is an archived post from the Indian National Interest blogroll. Views expressed are those of the blogger's and do not represent The Takshashila Institution’s view.