According to the latest data in the CNBC Supply Chain Heat Map report, China released its latest economic data where the figures do not show a healthy state of affairs, as the economy is struggling domestically and internationally. The main factors attributing to its slowdown can be China’s zero-covid policy and its ongoing trade conflict with the US. Undoubtedly, China’s zero covid policy is a significant factor in the erosion of its long-term dominance in global trade. “China’s Zero Covid approach is impacting production and manufacturers are seeking for alternatives to the current ‘factory of the world’,” said Antonella Teodoro, senior consultant at MDS Transmodal. China has lost ground in profitable consumer categories like the furniture, clothing, accessories, footwear, travel goods and products industries, as there has been a significant decline in production costs since 2016, which has had an influence on the global industrial economy. China’s share of global exports of consumer goods has fallen since 2016 While Vietnam has invested in Metal manufacturing products, Malaysia and Bangladesh have taken over the apparel manufacturing sector. From 2016 to present, Malaysia and Bangladesh have merged into the apparel and accessories domain, what once used to be part of China’s expertise. Since 2018, US trade tariffs have also been looking for alternate sources in China for manufacturing and disruption in costs. This could also be due to the heavy supply demand from other neighboring countries. Bangladesh and Malaysia have eaten into China’s global share of clothing and accessories exports in recent years A rise in intra-regional trade in Asia has been observed for manufacturing especially in Vietnam and other southeast Asian countries.  In the years before to Covid, the competition had grown fierce. Vietnam has taken the lion’s share of the manufacturing trade away from China with an almost 360% increase in far-distance trade since 2014. “Vietnam’s close...

On October 23, 2022, President Xi Jinping officially began his third term as president of China. The congress party’s leadership groups were chosen by around 2,300 delegates, to be formally announced in March during the government’s annual legislative sessions. Xi was also reappointed head of China’s Central Military Commission, keeping him in charge of the People’s Liberation Army. Furthermore, the appointment of six of Xi’s protégés and allies as members of the Politburo Standing Committee was announced. They included Li Qiang, Xi’s former chief of staff, Ding Xuexiang, a close friend of Xi, and Li Xi, the president’s longstanding confidant and leader of the Guangdong party. Apart from two men, anti-corruption chief Zhao Leji and political theorist Wang Huning, the rest of the elected members are all new to the team. After introducing the team, President Xi gave a brief speech in which he thanked the party for placing its trust in them and vowed to bring about the great rejuvenation of the Chinese country on all fronts. He also stressed on modernization which would entail high-quality development and common prosperity, moderate wealth for all people rather than just a few. “I wish to thank the whole party sincerely for the trust you have placed in us,” Xi told journalists at Beijing’s Great Hall of the People after the closed-door vote was announced. No other leader besides Communist Party founder Mao Zedong has ever served a third term, this development solidifies Xi as the most powerful leader since Zedong. Leaders of China’s allies, Russia’s Vladimir Putin and North Korea’s Kim Jong-un were among the first to send their congratulations. The United States offered no immediate response. Pakistan’s President Arif Alvi and Prime Minister Shehbaz Sharif also congratulated Xi Jinping on securing a third term as chief of China’s Communist Party (CPC). The president said in his message that China is Pakistan’s true friend and expressed hope that relations between the...

The causes of the surge in communal violence in Leicester can be traced back to demographic changes in the city’s South Asian population and the use of social media as a tool by the direct preparators and indirect influencers of violence. Extremist ideologies of Hindu and Muslim fundamentalist groups and religiously-influenced political figures are also chiefly responsible.  The clashes that occurred in September 2022 between Hindu and Muslim communities in Leicester were shocking news for many. But the incidents did not come as a surprise for those who have been observing a growing trend of extremism in the Indian polity which has all the ingredients for its spill over to the countries where the Indian diaspora has been thriving and multiplying in number. In 1951, Leicester had only 624 South Asian residents; today, it has one of the highest numbers of South Asian residents, the majority of whom are from India. Of these Indians, 13 percent are Muslims and 12.3 percent are Hindus. Until the recent incidents of communal violence, Leicester was considered to be a model city for religious harmony and tolerance with freedom for both communities to celebrate their religious festivals like Diwali, Eid, and Vaisakhi. The recent communal riots that occurred soon after the India-Pakistan cricket match in late August 2022 shattered the peaceful image Leicester had for many decades. Although victims tend to cite reasons that suit them well, the real causes of it are far more complex than what is currently being perceived and discussed by many analysts. The use of social media for spreading rumours and false news, uncontrolled migration into the UK, pursuing Hindutva policies away from home, and the delayed action by the police force in defusing the tension in the area are some of the main factors for this sudden outburst of violence in a city known for its peaceful environment. The press in India and Pakistan is also playing a role that often promotes a message of blaming...

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...