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Daily Memo: The ‘Taiwan Agreement,’ Russian Gas Games
Agreeing to disagree. U.S. President Joe Biden and Chinese President Xi Jinping spoke Tuesday and, according to Biden, agreed to preserve the “Taiwan agreement,” an apparent reference to the long-held “One China” policy in which the U.S. officially recognizes Beijing so long as it agrees to allow Taiwan’s future to be resolved peacefully. This came […]
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Daily Memo: China’s Blackouts, Japan’s Defense
China’s grid. China’s electricity crunch seems to be getting worse. Rolling blackouts have reportedly begun in several major cities, including Beijing and Shanghai. The cuts are mostly policy-driven; provincial authorities are cutting usage to comply with annual consumption caps and carbon targets set by the central government. So in theory, if things get really bad, […]
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Daily Memo: Europe’s Soaring Gas Prices, North Korea’s Uranium Processing
Energy bailout? Britain’s business secretary on Monday met with energy companies to discuss rising natural gas prices. The energy sector had earlier warned the secretary that only 10 of the 55 companies in the industry could still be operating by the end of the year. Rising demand for gas and declining supplies have led to […]
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Daily Memo: China Officially Applies for Trade Pact Membership
Beijing’s bid for membership. China is trying to butt its way into the Pacific Rim’s premier trade pact, formally applying Thursday for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. China was rumored to have been in backchannel discussions on joining the pact for much of the past year. The reports were hard […]
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Daily Memo: US, UK, Australia Forge New Security Pact
FREE
Joining forces. British, Australian and U.S. leaders announced a new security partnership for the Indo-Pacific on Wednesday. The trilateral “AUKUS” program will focus on...
What Rising Prices Reveal About the Russian Grain Market
Last May, the U.S. Department of Agriculture published a rather optimistic forecast for the 2021 grain harvest in Russia. It stated that Russia would produce 126.5 million tons of grain, including 85 million tons of wheat and 41.5 million tons of feed grain. But in its August survey, the USDA significantly lowered the forecast, with […]
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Daily Memo: Biden and Xi Talk, Nord Stream 2 Completed
Biden-Xi call. U.S. President Joe Biden and Chinese President Xi Jinping held their first phone call since February. Biden’s aims were reportedly pretty modest: to get Chinese officials to stop stonewalling their U.S. counterparts. China has many reasons to be pessimistic about the direction of relations with the United States. But the two powers still […]
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Daily Memo: Pyongyang Holds Military Parade, ECB Slows Stimulus
North Korea’s military parade. North Korea held its first major military parade of the year. Kim Jong Un was there, looking slim and dapper. But, unusual for these things, Pyongyang didn’t use the occasion to show off any new missiles or other weapons. There are still a couple of big new missiles that were unveiled […]
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Daily Memo: Missile Tests and Lots of Bilateral Talks
Korean missile tests. South Korea reportedly conducted a successful test of a new submarine-launched ballistic missile late last week. It’s a major leap in capabilities for the South, which is on the verge of becoming one of only a handful of countries capable of SLBM attacks. The next step in North Korea’s missile ambitions is […]
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Daily Memo: New Figures on Chinese Exports, British Warships Deployed to Indo-Pacific
Humming along. Chinese exports continue to hum along, according to new August figures, despite deeply disruptive, pandemic-related closures at major ports and a number of manufacturing facilities. Meanwhile, China’s ability to sustain its ban on imports of Australian coal is being tested as Chinese industrial production continues to surge. British deployment. The United Kingdom is […]
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Daily Memo: Macron’s Visit to Iraq
Ambitious plans. French President Emmanuel Macron was in Iraq over the weekend and pledged that French forces would remain in the country even if the United States pulls out. He also said Paris and London would bring forward a U.N. resolution to create a “safe zone” at the Kabul airport in Afghanistan. On Friday, France’s […]
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Daily Memo: Japan’s Breakthrough, China’s Corruption Charges
Japanese-Taiwanese talks. Officials from Japan’s and Taiwan’s respective ruling parties held long-awaited security talks on Friday, a major if still mostly symbolic breakthrough in Japan’s emergence as a factor in Taiwan’s defense. We were watching closely for signs that the talks touched on areas of tangible bilateral military cooperation. However, they reportedly focused primarily on […]
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The Geopolitics of the American President