On 24 April 2021 the ASEAN Leaders’ Meeting was convened at the ASEAN Secretariat in Jakarta, with the view to reach a consensus on the situation in Myanmar apart from other issues such as community building efforts, recovery from the COVID-19 pandemic, and other pressing issues of common interest to all ASEAN Member States. On the situation in Myanmar, the leaders agreed on the Five Point consensus (FPC). As the FPC marks the three-year anniversary on 24 April 2024, it is pertinent to reflect on the developments of each of these provisions. Over the period of three years, these provisions have often been criticised as mere diplomatic efforts which provide an ideal solution on paper but aren’t able to respond to the situation on the ground.
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Why isn’t the United States Using its Oil Reserves?
The United States’ oil reserves, particularly the Strategic Petroleum Reserve (SPR), have played a crucial role in the nation’s energy security strategy since its establishment in 1975. The SPR, located in underground storage facilities in Texas and Louisiana, serves as a vital emergency stockpile of hundreds of millions of barrels of oil, ready to be utilised in times of crisis. Over the years, the U.S. government has maintained this reserve to shield the country from energy disruptions caused by various events, such as natural disasters, military conflicts and geopolitical tensions.
Impact of Israel-Hamas and Russia-Ukraine Conflicts on Stock Markets
Geopolitical conflicts have the potential to impact global stock markets through various economic and financial channels. Disruptions to energy and commodity supplies, increased market volatility, and heightened economic uncertainty can all weigh on investor sentiment and stock prices. Additionally, the potential for these conflicts to escalate and draw in other regional or global powers could further exacerbate their impact on the financial markets.
Integrating Oman and Egypt into the India-Middle East-Europe Economic Corridor
As the Israel-Palestine conflict persists, the India-Middle East-Europe Economic Corridor (IMEC), announced in the backdrop of the G20 summit held in Delhi in September, 2023, remains a non-starter. The resolution of the Israel-Palestine conflict is nowhere in sight. As opposed to delaying the implementation of IMEC until the crisis is resolved, the participating nations could look at additional routes that would connect India to Europe bypassing Israel. One such route can connect India to Europe via Oman, Saudi Arabia and Egypt, while the rest of the Gulf Cooperation Council countries can be connected to the corridor via branch routes.
We are Shifting Towards a Multipolar World
The landscape of international politics is constantly changing and posing a serious challenge to the existing global order for the last three decades. The emerging role of the different middle powers is key to shaping the power dynamics and has reduced the relative power of the U.S. and opened up the scope for emerging economies like China, India, South Africa, and Brazil. Robert Gilpin, a scholar of the Realism school, opined that the global order is a dynamic reflection of shifting power dynamics among states, historically marked by conflicts and restructuring the power equations.
China Launches Shenzhou-18 Mission Aiming for Lunar Exploration
China’s space program is making great strides with the Shenzhou-18 mission. This time, three astronauts are sent to the country’s first domestically built space station. Led by former fighter pilots Ye Guangfu, Li Cong, and Li Guangsu, the crew embarks on a six-month mission, which includes conducting experiments and preparing for lunar exploration. In the midst of all this are zebrafish, part of more than 90 scientific experiments. Among them are creating a closed aquatic ecosystem for studying the interactions between fish and algae in space, information that can maybe inform future designs of habitats.
Chinese Cities Sink as Urbanisation Surges
The problem is not limited to China. Some of the major cities worldwide including Houston, Mexico City, and Delhi are facing similar challenges due to excessive water extractions and geological factors. Subsidence is one issue that affects areas with extensive mining activities, like the coal regions of Pingdingshan in northern China. Combating subsidence requires effective strategies. Tokyo successfully tackled the sinking by providing alternative water sources and banning well water use. In China, controlling groundwater extraction and implementing laws to prevent further subsidence are crucial steps.
North Korea fires Ballistic Missile, Heightening Tensions with Japan
The West claims that Moscow’s support for North Korea’s missile programme has been crucial to its defence posture in the region vis-a-vis American presence in the region. Pyongyang openly defies a ban imposed by the United Nations Security Council on developing ballistic missiles. North Korea asserts international objections against its missile programs as infringement of its sovereign right to defend itself.
Maldives’ Growing Proximity with China: Gain or Loss for India?
Since Mohamed Muizu became the elected president of the Maldives in September 2023, a series of anti-India sentiments has been sweeping the country. Evidently, the allegiance of President Muizzu’s clearly lies in China. President Muizzu has earlier given the deadline for withdrawing Indian troops from the country, which will be an eventual move, accepted by India. A few days earlier, the two maritime neighbourhood countries got into a spat after a reference from a Maldivian minister to call India a ‘bully’ of the smaller countries of the region. New Delhi reacted by reminding the amount of aid, $4.5 billion, that the Maldives accepts from India.
Israel Conducts Airstrikes on Iran Despite US Implorements to not Retaliate
According to a US official, Israeli Defense Force carried out an air strike on Iran on Friday, April 19, in retaliation to an Iranian attack last Sunday, April 14. The Iranian defense force has blocked three drones near the air base in Isfahan province. However Iran did not make any comment on who could be behind the attack and nor did Israel claim responsibility over the strike. The No large scale damage was caused by the attack, reported CNN. Sources said that Netanyahu government’s war cabinet has been planning for an attack since Monday which was hold back due to international pressure coming from allies like the United States and Gulf.