The renewed tensions between China and India, two Asian giants, along the contested Line of Actual Control (LAC) in the Himalayan region of Ladakh in early May crossed the 100-day mark on Thursday.
For the first time since the Agreement on the Maintenance of Peace and Tranquility was signed by the two nations in 1993 – apropos the management of the 4,000-kilometre loose demarcation line that separates Indian and Chinese-controlled territories – there was a breakdown in the protocols carefully crafted over 27 years.
In the middle of June, 20 Indian soldiers including a colonel lost their lives in the Galwan River following a brawl with troops belonging to the People's Liberation Army of China. Beijing has yet to announce any casualties on its side, although Chinese media reports indicate that the PLA did lose personnel. In what was an anomalous development, no ordnance was used by either military at Galwan, even though both nuclear nations are militarily well-equipped. Soldiers on both sides, instead, resorted to sticks, stones and nail-studded clubs.
India has held China responsible for "pre-meditated" transgressions in various locations along the LAC, while Beijing has accused Delhi of being the "aggressor".
In their August 15 Independence Day speeches, the Indian President Ram Nath Kovind and Prime Minister Narendra Modi referred to the challenge of "expansionism" in the neighbourhood but did not explicitly name China. It was added that India would not be deterred by any kind of "aggression" and was capable of giving a "befitting reply".
An uneasy stalemate prevails despite several rounds of talks at the diplomatic and military command levels. The Indian assessment is that its military will have to prepare for the long haul along the LAC through the winter months.
In the run-up to the 100th day, however, some signals seem to suggest that diplomacy may yet allow for a modus vivendi of a complex and tangled territorial dispute between the world’s two most populous nations with a combined strength of 2.8 billion people.
On Friday, the Indian ambassador in Beijing Vikram Misri met with senior officials of the Chinese Military Commission to reiterate Delhi’s position on the LAC. Earlier on Wednesday, Mr Misri had met with Liu Jianchao, a senior member of the Central Committee of the Chinese Communist Party. Media reports suggest that another round of talks could be on the cards.
Also on Wednesday, the Chinese embassy in Delhi expressed hope through a tweet that the “Indian side can meet the Chinese side half-way” and not act in any manner that would further "complicate" the border tensions. The tweet also said that China hoped India would create “favourable conditions” for maintaining peace and stability in the border areas and the healthy development of bilateral relations.
However, this was also accompanied by the Chinese ambassador to India Sun Weidong asserting in a signed article that the onus for resolving the border stand-off in the Ladakh sector of the LAC was “not on China". In short, the picture that emerges is unclear and has elements of a tentative intent to negotiate – but the article suggests it would be on terms set by Beijing. This will not be acceptable to Delhi, which seeks a return to the status quo positions along the LAC as they existed before the PLA intrusions.
The bilateral relationship between China and India has now entered a post-Galwan phase and both nations are aware that what is at stake is not just contested territoriality – but the texture and tenor of the emerging Asian strategic framework with larger global implications.
This was outlined by the Indian Foreign Minister Subrahmanyam Jaishankar, who earlier in the month noted: “We are seeing the parallel but differential rise of the two countries. To my mind, what it does is it puts a huge premium on reaching some kind of equilibrium or understanding between the two.” Highlighting the point that this equilibrium would have to be in the interests of both countries, he added: “How to do that is one of the big challenges that we face.”
While the Covid-19 pandemic has led to considerable uncertainty about the global economic recovery, it is expected that over the next decade, the world will see the emergence of three major single-state economies: China, the US and India, with the European Union being the fourth node.
In an earlier formulation, there was optimism about the resurgence of Asia, led by China’s economic growth followed by that of India, in addition to the sustained economic vitality of countries in the continent's north-east, south-east and west. It was envisioned that global prosperity and power would shift to the East, with the critical strategic triangle represented by China, the US and India.
This assumption, however, was predicated on a robust degree of co-operation among the major powers and a commitment to equitable globalisation in all the development sectors ranging from the economy, energy, infrastructure, investments, financial flows, trade, commerce and the sharing of technology. The past four years have turned out to be more turbulent and discordant across many tracks, and these include the souring of US-China, US-Russia and now China-India relations.
While the orientation of the US-China equation will largely be shaped by the outcome of the US presidential election in November, one factor will remain abiding – that of the swing-state relevance of India in the critical strategic triangle. How Beijing engages with Delhi in the post-Galwan era will have long-term implications for Asian equipoise and harmony – or the lack thereof.
C Uday Bhaskar is director of the New Delhi-based think tank Society for Policy Studies
The view from The National
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
High profile Al Shabab attacks
- 2010: A restaurant attack in Kampala Uganda kills 74 people watching a Fifa World Cup final football match.
- 2013: The Westgate shopping mall attack, 62 civilians, five Kenyan soldiers and four gunmen are killed.
- 2014: A series of bombings and shootings across Kenya sees scores of civilians killed.
- 2015: Four gunmen attack Garissa University College in northeastern Kenya and take over 700 students hostage, killing those who identified as Christian; 148 die and 79 more are injured.
- 2016: An attack on a Kenyan military base in El Adde Somalia kills 180 soldiers.
- 2017: A suicide truck bombing outside the Safari Hotel in Mogadishu kills 587 people and destroys several city blocks, making it the deadliest attack by the group and the worst in Somalia’s history.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Killing of Qassem Suleimani
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
The details
Heard It in a Past Life
Maggie Rogers
(Capital Records)
3/5
If you go
- The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
- The Double Tree by Hilton in Novosibirsk ( 7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
- The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as Altair-Tour ( 7 383 2125115 ) offer hiking and adventure packages.
The specs
Engine: 2.9-litre, V6 twin-turbo
Transmission: seven-speed PDK dual clutch automatic
Power: 375bhp
Torque: 520Nm
Price: Dh332,800
On sale: now
Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
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