Asia

<strong><u>The Hidden Exploitation of Sri Lanka’s Gem Industry by Chinese Smuggling Rings</u></strong>
8Aug mmBy Michael SmithNo Comments
Asia, China

The Hidden Exploitation of Sri Lanka’s Gem Industry by Chinese Smuggling Rings

Sri Lanka’s renowned gem industry, famous for its top-tier gemstones, is facing rampant exploitation, primarily fueled by Chinese involvement. It is estimated that Chinese nationals have illegally exported gems worth around 30 billion rupees, creating a shadowy parallel gem market. Local authorities are increasingly alarmed, recognizing the severe threat this poses to legitimate businesses and the country’s economy. In a recent high-profile case, the Colombo High Court seized over SLR 201 million from the bank account of a Chinese businessman linked to a decade-long smuggling operation. This move followed charges of unlicensed gem trading and money laundering. Earlier this year, Sri Lanka Customs officers intercepted a Chinese father-daughter duo at Bandaranaike International Airpo...
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Trump’s Changing Tune? ‘Dead Economy’ Jibe at India, Oil Deals And Lower Tariffs for Pakistan
31Jul mmBy Mike TrudellNo Comments
Asia

Trump’s Changing Tune? ‘Dead Economy’ Jibe at India, Oil Deals And Lower Tariffs for Pakistan

Pakistan has bagged a low-tariff trade deal with the US, signalling a major shift in Washington’s South Asia policy under Trump. Pakistan has secured a trade deal with the United States ahead of India and at a lower tariff rate, indicating Washington's shift in its South Asia policy. US President Donald Trump, who had earlier announced a 25% tariff on Indian goods, slapped a 19% tariff on Pakistan, suggesting America's tilt towards Islamabad. The trade deal with Pakistan comes after Trump repeatedly took credit for brokering the ceasefire between India and Pakistan following Operation Sindoor. Notably, India denied any foreign hand in the ceasefire, calling it a bilateral decision taken after Pakistan's DGMO approached New Delhi. Pakistan, on the other hand, warmed up to Trump, tha...
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Trump calls India a ‘dead economy’, strikes oil deal with Pakistan: Delhi pledges to shield farmers, biz
31Jul mmBy Michael SmithNo Comments
Asia

Trump calls India a ‘dead economy’, strikes oil deal with Pakistan: Delhi pledges to shield farmers, biz

US treasury secretary Scott Bessent said the US President and his trade negotiators were ‘frustrated’ at the tardy progress of talks with India, which ‘came to the table early’ but was found to be ‘slow rolling things’ US President Donald Trump has escalated his criticism of India, branding its economy as “dead” and lumping it with Russia’s, prompting an oblique rebuttal from commerce minister Piyush Goyal who told Parliament that India was a “bright spot” in the global economy. In a flurry of messages on social media, Trump also announced a trade deal with Pakistan but offered no clue on how much duty the country will pay. He boasted that American companies would develop a “massive” oil reserve in Pakistan and this might be sold to India some day. Trump is to sign an executi...
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China optimizes foreign exchange reserve structure
21Jul mmBy Brian ThompsonNo Comments
Asia, China, World

China optimizes foreign exchange reserve structure

Nation likely to increase investments in non-dollar assets, say economists Economists and policy advisers have said that it is a strategic necessity for China to further scale back holdings in United States government debt in order to safeguard national financial stability, amid waning confidence in the dollar-based system and persistent geopolitical tensions. To pursue a more balanced, controllable allocation of foreign exchange reserves, the country is also likely to increase investments in non-dollar assets, including financial instruments of its Asian trading partners and crucial resources such as gold, energy and food, they added. Yu Yongding, an academic member of the Chinese Academy of Social Sciences, called for China to continue reducing US government debt holdings i...
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Strait of Hormuz: A Geopolitical Risk Ignored by Asia
25Jun mmBy Brian ThompsonNo Comments
Asia

Strait of Hormuz: A Geopolitical Risk Ignored by Asia

The Strait of Hormuz—a 33 km-wide choke point between Iran and the Arabian Peninsula—is arguably the most geopolitically sensitive maritime corridor in the world. Through this narrow waterway flows nearly a fifth of global crude oil production, a lifeline for global economic stability. However, the overwhelming strategic reality remains under-acknowledged: over 80% of oil passing through Hormuz is destined for Asia, and China alone accounts for one-third of the shipments. Given this disproportionate dependency, it is paradoxical that the burden of securing the strait still falls primarily on Western powers, particularly the United States. In a changing global order marked by mounting geopolitical risk, it is time for Asia’s major powers—China, India, Japan, ...
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China’s BRI problem: From builder to debt collector
25Jun mmBy Joe RodriguezNo Comments
Asia, China

China’s BRI problem: From builder to debt collector

China has embarked on very rapid and massive overseas lending since 2013, when it launched the Belt and Road Initiative (BRI). But it has now become the world’s largest debt collector for developing countries’ debt repayments. EAI senior research fellow Yu Hong assesses whether China’s shifting role in global lending will undercut the BRI. The Belt and Road Initiative (BRI), launched in 2013, has positioned China as a central player in global infrastructure financing and development. According to a 2022 report by the World Economic Forum, Chinese enterprises and banking institutions have announced their participation in about 3,800 overseas projects under the BRI since 2013, involving a total investment of US$4.3 trillion towards building roads, railroads, seaports, energy plants a...
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<strong>China’s Electric Vehicle Mirage: Beneath the Shine, a Crisis of Safety and Trust</strong>
23Jun mmBy Brian ThompsonNo Comments
Asia, China

China’s Electric Vehicle Mirage: Beneath the Shine, a Crisis of Safety and Trust

In the global rush toward electrification, China has positioned itself as a leader—touting breakthrough innovation, soaring EV exports, and world-class manufacturing capacity. Yet beneath this polished narrative lies a growing unease. Over recent months, a troubling pattern has emerged: mounting cases of mechanical failures, safety hazards, and consumer dissatisfaction surrounding Chinese-manufactured electric vehicles. These incidents not only challenge the supposed quality of China’s EV industry but expose deeper systemic problems rooted in design, regulation, and market pressures. Chinese electric vehicles, often showcased as cutting-edge alternatives to their Western counterparts, are increasingly falling short of their promises. In one viral incident from March 2025, a Beijing...
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Strait of Hormuz Tensions Spark Economic Jitters Across Asia
22Jun mmBy Brian ThompsonNo Comments
Asia

Strait of Hormuz Tensions Spark Economic Jitters Across Asia

One of the world’s most pivotal maritime chokepoints— the Strait of Hormuz—– has once again emerged as a strategic flashpoint amid escalating military tensions in the Middle East. Iran’s parliament has endorsed a motion to close the strait in direct response to recent U.S. airstrikes on its nuclear and military installations. While formal closure must still receive approval from the Supreme National Security Council, the mere prospect is already rattling global energy markets and unsettling nations that heavily rely on Middle Eastern energy exports. The strait connects the Persian Gulf with the Gulf of Oman and spans just 33 kilometers at its narrowest point, with shipping lanes squeezed into even tighter channels. In 2024, nearly 20 percent of the world’s crude oil—approximatel...
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Asia-Pacific economies brace for trade policy impact
20Jun mmBy Brian ThompsonNo Comments
Asia

Asia-Pacific economies brace for trade policy impact

According to the World Trade Organization (WTO), heightened protectionism among major trading powers is contributing to a gloomy outlook for world trade. The latest KPMG Global Economic Outlook predicts international GDP will decrease from 3.2% in 2024 to 2.7% in 2025, with a slight recovery to 2.8% in 2026. Meanwhile, global inflation is expected to cool from 4.5 percent in 2024 to 3.6% in 2025, reaching 3.1% in 2026. During KPMG International’s Global Economic Outlook webinar, live polling during the broadcast revealed that 34% of attendees identified macroeconomic volatility as their top concern, while 30% cited geopolitical instability. Forty-seven per cent reported that their company’s growth prospects had worsened since January, and only 40% indicated no significant cha...
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Israel-Iran conflict raises Asia’s energy security fears over Strait of Hormuz risks
17Jun mmBy Brian ThompsonNo Comments
Asia

Israel-Iran conflict raises Asia’s energy security fears over Strait of Hormuz risks

Any closure of the strait could choke oil flows vital to Asian economies, analysts warn Escalating conflict between Israel and Iran is raising fresh concerns over Asia’s energy security, analysts said on Tuesday, with any disruption to oil flows through the Strait of Hormuz threatening to destabilise global markets.Roughly 70 per cent of Asia’s crude oil and refined product imports pass through the narrow waterway, which lies adjacent to Iran and connects the Persian Gulf to the Gulf of Oman. The strait remains one of the world’s most critical maritime choke points, particularly for heavily import-dependent Asian economies.The renewed anxiety came after US President Donald Trump left the Group of Seven (G7) summit in Canada a day early on Monday after calling for the evacuation of ...
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