The US has strongly reacted to OPEC’s recent, unprecedented decision to cut its oil production by 2 million barrels a day, effective November, thereby increasing the price of oil in the market. The Biden Administration says that the decision will have consequences. However, Saudi Arabia claims that the measure to reduce oil production was undertaken to avoid global recession and was not motivated by politics. The OPEC cartel recently made the unexpected decision of cutting its oil production by 2 million barrels a day, effective November, thereby increasing the price of oil in the market. Amongst its 13 members, Saudi Arabia and Russia are the leading exporters, and any decision regarding cuts or rise in production is influenced by them. This decision did not go down well with the US, as it believes Saudi Arabia is supporting Russia in its invasion of Ukraine. They argue that higher global oil prices would boost revenue and profit, financing their war machine. This move by the Saudis comes at a crucial time for the Biden Administration as it gears up for midterm elections next month, therefore, any increase in gasoline prices could affect the campaign. Furthermore, the Biden Administration has also reacted furiously to the decision because it views Saudi’s move to cut in production as a snub to the US, especially after President Biden reluctantly travelled to Saudi Arabia in July, with assurances by the Saudis to calm the market and stabilize prices. However, it did not work out as planned and has resulted in an uproar within US circles with chants of “Saudi Betrayal”. Senior Democrats in the US have called for retaliatory measures and a thinning of ties with Saudi Arabia, a key ally of the US in the region. Three Democratic representatives also promised a bill to remove US troops and missile systems from the region, calling the OPEC+ production cut a “turning point in our relationship” with Gulf partners. The president is disappointed by the OPEC decision and is...

On 16th October 2022, Chinese President Xi Jinping addressed the 20th Communist Party’s five-yearly congress meeting with a detailed speech outlining the ruling party’s accomplishments in recent years and its long-term plans. The party congress is the most significant political event in the country. It takes place once every five years, and its major objective is to choose the nation’s future leaders. China’s influence, appeal, and power to influence the world have all dramatically increased, according to the president, whose 10-year leadership has seen the country emerge as a global superpower. “Our future is bright, but we still have a long way to go,” Xi said to the more than 2,000 Chinese delegates attending the opening at Beijing’s Great Hall of the people. As anticipated, it appears likely that the Chinese president will fulfill his manifesto given his power, authority, and apparent popularity. Following below are the Key Takeaways covered in Mr. Xi’s speech: Zero-Covid Policy: China’s COVID control policies have resulted in travel restrictions, mass testing, quarantine, and strict lockdowns of entire cities in the region since the beginning of the pandemic. The number of covid related cases in China has been kept under control and President Xi has consistently backed the “dynamic zero COVID” policy, which has garnered international praise as well. President Xi stated that there would be no wavering on zero-Covid because of the need to prioritise saving people’s lives. “In launching an all-out people’s war to stop the spread of the virus, we have protected the people’s health and safety to the greatest extent possible and made tremendously encouraging achievements in both epidemic response and economic and social development,” he further added. Push for Economic Development: China’s economic growth had slowed down and resulted in weak domestic growth after taking a hit due to Covid lockdowns. President Xi emphasized that development is the party’s top...

On 16th October, the Chinese Communist Party (CCP) will convene in an all-important gathering of senior committee members. This twice-a-decade event will make major decisions on China`s future path involving the reshuffling of powerful positions, and most importantly and likely, will re-elect President Xi for a further 5-year term, making him the most powerful leader of China since Chairman Mao Zedong.  President Xi, who holds the key posts of General Secretary of the Chinese Communist Party, President, Head of State, and Chairman of China`s Central Military Commission is often referred to as the Supreme Leader. He may remain in power for the rest of his life. Apart from President Xi’s re-election, the Central Committee will select 200 people from some 2,300 delegates to join the Central Committee and amongst them, 25 will be elected to the Party`s Politburo. These are the elite. Many observers believe that President Xi, in his third term, will be bringing back a more authoritarian rule of government. Already, some analysts are branding his style of socialism as the Xi Jinping thought, an assertively nationalist philosophy that is skeptical of private business. But China today is facing an economic challenge. Covid lockdowns, rising prices, a major property crisis, and a global recession triggered by the war in Ukraine, have damaged confidence. For President Xi, it is also a personal challenge. Economic growth under his rule has been the lowest than under previous presidents Jiang Zemin and Hu Jintao. If economic performance doesn’t improve, it could bring serious political trouble for him. Another area of discussion will be China`s zero Covid approaches to the pandemic. While much of the world has been returning to normal, Chinese authorities are enforcing strict lockdowns and curfews` in around 70 cities. These steps are causing frustration and dissent amongst the population and are widely condemned. Some observers say that the party may use Congress to declare...

Peace in Afghanistan is crucial to peace in Pakistan and vice versa. With the Taliban’s return, Pakistan expected the de facto group to be a cooperative ally, but the situation says otherwise. The inefficacy and eventual failure of talks with TTP, the Afghan Taliban’s ill-treatment of girls and women, and general scorn from across the border make Pakistan critical of Afghanistan. Realistic expectations and cooperation are what the two countries need.  With the return of the Taliban in Afghanistan, Pakistan felt that it finally had a ‘friendly’ government across the border. Precisely, it celebrated the Taliban’s triumph – for some reasons, the foremost being India’s immediate departure from the scene, a country that had remained closer to the former Afghan government. India’s increased presence in Afghanistan in the past few years remained an irritant for Pakistan. The Indo-Afghan camaraderie became one of the root causes of dismay between Pakistan and Afghanistan. Hence, the region was devoid of sustainable peace. Since August 15, 2021, trade has remained the most potent viaduct between the two countries. But, overall, Pakistan’s trade with Afghanistan has declined by up to 30%. What stands out is that so far Pakistan has resolved most of the challenges related to trade and transit. At present, economic connectivity between the countries is at its smoothest. The recent coal deal has also helped Pakistan earn the neighboring country’s goodwill. Afghanistan also exported vegetables in bulk to Pakistan when the country lost major vegetation amidst the deadly floods. These are a few, but significant developments to cherish and highlight. But some pressing challenges still cause bad blood between the two neighbors. To bring an end to the TTP’s 14-year fight against Pakistan, Pakistani officials held negotiations with the terrorist organization, which were mediated by the Afghan Taliban. But when it became evident that the demands of a resolute TTP could not be...

Under a new guideline, Shanghai aims to groom innovative enterprises and talent in health, smart tech, energy and other hi-tech industries The Chinese semiconductor capital has been struggling under draconian Covid-19 controls and growing US export restrictions hanghai, China’s financial and semiconductor production centre, has declared its ambition to become a base for “industries of the future” amid an intensifying US-China tech war and stringent Covid-19 controls. Under a guideline published by the Shanghai government on Tuesday, the city aims to groom innovative enterprises and talent in areas including health, smart technology, energy and materials. By 2030, the city wants to be home to 1,000 hi-tech enterprises with a combined production output of 500 billion yuan (US$70 billion). Shanghai, the country’s financial and business capital, has unexpectedly emerged as a high-end manufacturing base in recent years thanks to generous policy support. The city is currently China’s largest chip producer, contributing a quarter of the national semiconductor value output, as well as 40 per cent of chip talent last year. Several major Chinese chip companies, including national champion Semiconductor Manufacturing International Corporation, are already headquartered in Shanghai, while start-ups such as Biren Technology and Iluvatar CoreX have also set up shop in the city. However, the city’s future has been clouded by the country’s draconian “dynamic zero” Covid-19 policy, as well as the US-China tech war. A fresh wave of coronavirus outbreaks since last week has prompted local officials to conduct mass testing and put thousands of people under quarantine, stoking bad memories of Shanghai’s citywide lockdown in April and May. After that large-scale lockdown, some of the city’s top talent considered leaving. Still, the government said in Tuesday’s plan that it wants to build five schools for future technologies and 15 innovation centres to woo high-level scientists and...

The OPEC+ alliance of oil-exporting countries recently decided to drastically cut its oil production by two million barrels in order to “boost prices”. The decision may have a negative impact on consumers, businesses, and entire economies of several countries, including India, one of the major buyers. However, the Union Minister of Petroleum and Natural Gas of India, Hardeep Singh Puri, stated that Indian government has a moral obligation to provide energy to its citizens and will therefore buy oil from wherever it wants to. “If you are clear about your policy, which means you believe in energy security and energy affordability, you will buy from wherever you have to purchase energy from sources,” he further added. On October 5, 2022, the OPEC+ alliance of oil-exporting countries had their first in-person meeting since the start of the COVID-19 pandemic, at the oil cartel’s headquarters in Vienna. The coalition decided to drastically cut its oil production by two million barrels, effective by November, in order to “boost prices”. The decision, according to the group, was based on the “uncertainty that surrounds the global economic and oil market outlooks”. Since OPEC+ members already fall short of their quotas, the production cuts on oil prices and consequently, the price of gasoline derived from crude will be somewhat constrained. In lieu of the ongoing Ukraine crisis, the decision would also benefit alliance member Russia, whose gas supplies to Europe have been significantly reduced as a result of sanctions. However, this step by OPEC has angered the Biden administration as it is seen as a rebuff to the US, especially with mid-term US congressional elections coming up in November. The decision may also potentially have a negative impact on consumers, businesses, and entire economies of several countries, including India, one of the major buyers. Following the OPEC decision, the Union Minister of Petroleum and Natural Gas of India, Hardeep Singh Puri, recently...

In an interview with Matrix Media, Prof. Dr. Mohammad Ali Ehsan, an analyst on International Relations, had an in-depth discussion on matters relating to China, its model of governance, and its exploitation by the West. When asked on what difference has the Chinese communist party made to this western large province of Xin Jiang. He highlighted the ground reality today in China`s Xinjiang province and why the West has been relentlessly and unfoundedly hammering China on the Human Rights situation there, which is far from the truth. Xinjiang province, by its location, is at the extreme western end of China with a Muslim majority population. It is bordering eight Islamic countries such as Turkmenistan, Afghanistan etc. For China, the fear of extremist Islamic groups across the border, fanning hatred and starting an insurgency movement is genuine. It cannot afford to let its guard down. So far, China has succeeded in controlling the menace of extremism in Xinjiang, giving religious freedom to the Uighurs (Muslim majority in Xinjiang), by the existence of over 24,000 mosques in the province and undertaking massive infrastructure projects, including establishing a high-speed rail link with the rest of the country. However, to the west, especially the US, Xinjiang province is being used in a propaganda against China on human rights. Western media sources have been working overtime in wrongly depicting China for its so-called human rights abuses and exploitation of its people. The US has even gone to the extreme step of boycotting goods made in Xinjiang, fabricating stories of harsh treatment by the Chinese authorities on the Uighur community. But one has to go back in time to grasp historic realities as it was the West who colonized the world and used slavery to ship valuable commodities, stolen from the native people, back to their countries. It is also the West, that today remains silent on authoritarian regimes around the world, only because it serves their national...