News Archive – Sep-Dec 2023

EURASIAN ECONOMIC UNION:

Iran, Russia to trade in local currencies instead of US dollar – state media

Military cooperation with Russia expanding

Reuters, Dec 27, 2023 – Iran and Russia have finalised an agreement to trade in their local currencies instead of the U.S dollar, Iran’s state media reported on Wednesday…. Iranian authorities have said military cooperation with Russia is expanding. Iran said in November it had finalised arrangements for Russia to provide it with Su-35 fighter jets, Mi-28 attack helicopters and Yak-130 pilot training aircraft.
EURASIAN ECONOMIC UNION COUNTRIES SIGN
FREE TRADE AGREEMENT WITH IRAN
TV BRICS, Dec 27, 2023 – According to Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich, the parties agreed to abolish import customs duties on nearly 90 per cent of the commodity nomenclature, which accounts for more than 95 per cent of trade between Iran and the EAEU countries.

Jacques Delors, architect of the modern European Union, dies aged 98

SOCIALIST LED EUROPE TO ‘FREE MOVEMENT OF CAPITAL, GOODS, SERVICES AND PEOPLE’
PBS | AP, Dec 27, 2023 – For many, the owlish but hard-driving Socialist and Catholic was simply “Mr. Europe.”
Under his 1985-1995 tenure at the head of the European Union’s bureaucracy in Brussels, member countries agreed to tear down barriers that prevented the free movement of capital, goods, services and people.

‘MADE IN NORTH AMERICA’

US concern over Mexico attracting Chinese electric vehicle factories

‘Imminent wave’ of Chinese investment, EV factories into Mexico for USMCA market

Financial Times, Dec 17, 2023 – Washington has raised concerns with Mexico over an imminent wave of Chinese investment into the country….
Mexico, the world’s seventh-largest carmaking nation, is one of the countries best placed to benefit from an upheaval in global supply chains caused by disruptions in the Covid-19 pandemic and the US-China trade war. It offers cheaper labour, a broad-based car supply chain and access to the North American free trade deal USMCA.

Japan and ASEAN bolster ties at a summit focused on security and economy amid tensions with China

Associated Press, Dec 17, 2023 – Leaders from Japan and the Association of Southeast Asian Nations, at a special summit in Tokyo on Sunday, adopted a joint vision that emphasizes security and economic cooperation while respecting the rule of law, amid growing tensions with China in regional seas.

REGIONAL INFRASTRUCTURE:

South America Can Still Save Its Trading Bloc

‘AS THE WORLD DIVIDES UP INTO REGIONAL TRADING BLOCS’

Stalemate over a trade deal with the European Union has left Mercosur on life support.
Its revival depends on spurring greater intraregional trade
Council on Foreign Relations | Bloomberg Opinion, Dec 13, 2023 – It costs more to move goods in and around South America than to send them farther away. To make regional supply chains viable, these nations need to stand up more border crossings, connecting roads and rails, and ensure more regional flights and container ship ports of call. The impediments aren’t just physical. Streamlining customs paperwork and reducing bureaucratic red tape through automation and digitization would lower the time and cost of doing business between South America’s economies as well.

Africa seeks to accelerate the establishment of African Union Financial Institutions

‘To collectively pool their sovereignty’

African Union, Dec 13, 2023 – The African Union is convening a consultative forum to assess the implementation of the African Union Financial Institutions (AUFIs)….Ministries of Finance, Central Banks, African Union Organs and Specialised Agencies, Regional Economic Communities, Association of African Central Banks, African Securities Exchanges Association, and development partners will look into the economic and political challenges impeding the Member States ability to sign and ratify legal instruments establishing the financial institutions, constraints that restrain the continent to collectively pool their sovereignty in order to mutualise their efforts and resources for the establishment the AUFIs.

SOUTH ASIA – BIMSTEC:

A Schengen for South Asia

‘With Pakistan and China outside of BIMSTEC, concerns regarding cross-border terrorism and economic competition are mitigated’

International Policy Digest, Dec 11, 2023 – The concept of free movement, advocated by progressive voices around the globe, calls for the unimpeded transit of people and goods across borders. In parallel to this liberal ideal, Sri Lankan President Ranil Wickremesinghe recently suggested transforming the BIMSTEC region, which encompasses seven countries including India, into a singular “borderless” tourism zone….
Internationally, various blocs offer visa-free travel among their member states, with the Schengen Area standing as the most prominent example—a collective of twenty-seven European and non-European countries that have chosen to eradicate internal borders to permit free movement.
A borderless India….would also streamline the movement of goods and services, potentially reducing production costs. With Pakistan and China outside of BIMSTEC, concerns regarding cross-border terrorism and economic competition are mitigated, allowing for a focus on inclusive regional collaboration.

NORTH AMERICA:

Made in the USA: Shoring Up Options for U.S. Manufacturing’s Resurgence

‘RESHORE’ BACK TO USA, OR ‘NEARSHORE’ TO MEXICO?

US has aging infrastructure, labor ‘shortfalls’
Area Development, Dec 11, 2023 – With revived efforts to begin reshoring and nearshoring manufacturing to and toward the U.S., several challenges have surfaced, namely the lack of available manufacturing space, labor and talent shortfalls, as well as significant infrastructure improvements required for much-need supply chain efficiency and, ultimately, success….
Aging infrastructure is another challenge facing the sector, as inventory tends to be older, with nearly two-thirds of it built before 1990, and nearly three-quarters built before 2000. Additionally, the American Society of Civil Engineers gave the nation’s infrastructure a C-minus grade on its 2021 quadrennial Infrastructure Report Card, citing that the nation is spending only half of what it needs to invest in infrastructure improvements to bring systems up to par.

EURASIAN UNION:

India can increase Eurasian trade after G7 sanctions on Russia

Deccan Chronicle (India), Dec 8, 2023 – “Currently, Russia is dependent on the European Union for imports of several products. The sanctions imposed by G-7 countries will bring a halt to those imports and it is a great opportunity for India,” said K Unnikrishnan, joint director general, the Federation of Indian Export Organisations.

SOUTH AMERICA – REGIONAL INFRASTRUCTURE:

Investment banks to put $10 billion into projects aimed at interconnecting South America

‘ROUTES FOR SOUTH AMERICAN INTEGRATION’

PORT, AIRPORT, ROAD, RAIL AND POWER TRANSMISSION PROJECTS
abc27, Dec 7, 2023 – Four investment banks announced Thursday during a meeting of leaders of the Mercosur trade bloc that they will put $10 billion up for infrastructure works aimed at better connecting South America, including funds for port, airport, road, rail and power transmission projects.

ARAB GULF:

GCC Calls On Lebanon Not To Be Launching Pad For Terrorists And Drug Smuggling

The961, Dec 6, 2023 – In a recent summit, the Gulf Cooperation Council (GCC) issued a statement highlighting concerns about Lebanon’s potential role in regional instability.
The GCC emphasized the critical need for Lebanon to avoid becoming a base for terrorist activities, drug smuggling, and other criminal operations that pose threats to regional security and stability.
The statement underlined the necessity for the Lebanese government to assert full control over its territory.
It also called for the implementation of United Nations Security Council resolutions and the Taif Agreement, ensuring that the Lebanese government is the sole authority in the country.

Twenty More Countries Have Applied To Join BRICS

Many are leading players within their own respective trade blocs

Silk Road Briefing, Dec 6, 2023 – ….Closer examination also reveals that many of the 20 listed above are significant economies, often amongst the leading players within their own respective trade blocs. These include the Greater Arab Free Trade Area (GAFTA), Latin America’s Mercosur, the African Continental Free Trade Area (AfCFTA), the Eurasian Economic Union (EAEU), and ASEAN, amongst others. Having BRICS members inserted into these regional blocs significantly enhances the BRICS own reach and influence within them. By comparison, the European Union appears strictly rigid in its approach….
What is happening instead is far more revolutionary, and is leading to a rather more considered, and inclusive multi-lateral approach. The BRICS movement is developing more as a trade philosophy than a specific bloc – and will pave the way ahead in terms of global trade flows well into the coming decades.

What to expect from Iran’s membership in Eurasian Economic Union

Purpose to achieve ‘free movement of goods, capital, services and people’ in single market of member countries

Press TV (Iran), Dec 4, 2023 – ….The Eurasian Economic Union is an intergovernmental economic union consisting of Belarus, Kazakhstan, Russia, Kyrgyzstan and Armenia.
The purpose of the union is to create a single economic space, develop a common market and achieve the free movement of goods, capital, services and people in the single market of the member countries, reduce the price of goods by reducing the costs of transporting raw materials and promote healthy competition in the common market, common policies in agriculture, energy, technology and transportation.
After about six years of negotiations, Iran’s first free trade agreement with Eurasia is about to be realized. In terms of the population, production, export and import variables, the Eurasian Economic Union is completely dominated by Russia.
With the addition of Iran to the Eurasian Economic Union, the population (19 percent), production (15.2 percent), export (12.2 percent) and import (16 percent) capacities of the bloc will increase, but Iran’s economic capacities will also enhance.

‘New international structure‘:

Russia outlines its vision of a ‘world majority’ to rival the West

Forum’s main theme: ‘Transformation of the World Order: The Eurasian Dimension’

Arab News, Dec 4, 2024 – Lavrov included in the new international structure the Eurasian Economic Union, the Collective Security Treaty Organization and the CIS, as well as the Association of Southeast Asian Nations, the African Union, the Community of Latin American and Caribbean States, the Gulf Cooperation Council, the Arab League and the Organization of Islamic Cooperation. The last three might be interesting examples, showing how the Russian view of the “world majority” particularly involves the Middle East and the Islamic world….
To sum up, Russia’s “world majority” includes itself along with the Global South and the East, which together constitute the majority of the world’s economy and its population. This is briefed as standing in opposition to the “collective West,” presented as an entrenched elitism.

It’s Not Deglobalization, It’s Regionalization

Shannon K. O’Neil, Council on Foreign Relations, Dec 1, 2023 (Originally published at Yale University Press) – Even in the face of hostile geopolitics and industrial policy and protections, the factors that drove regionalization in recent decades will remain powerful and profitable. True globalization may not be in our future, but regionalization still is.

‘MADE IN NORTH AMERICA

‘People Don’t Realize How Huge It Is’:
Trade With Mexico Pads Industrial Profits
Far North Of The Border

DALLAS-FORT WORTH IN DIRECT PATH OF DISTRIBUTION
BisNow, November 29, 2023 – Texas’ neighbor to the south is playing an increasingly pivotal role in the success of industrial markets located hundreds of miles from the border.
The economic relationship between Texas and Mexico has blossomed in recent years as border trade accelerates and manufacturers move operations closer to the U.S. The partnership not only benefits both countries, but it positions Dallas-Fort Worth, some 400 miles north of Mexico, in the direct path of distribution, cementing its reputation as a critical point in the global supply chain.

EUROPEAN UNION – REGIONAL INFRASTRUCTURE:

Commission proposes 166 cross-border energy projects for EU support to help deliver the European Green Deal

CONTRIBUTES TO DOUBLING EU’S GRID CAPACITY BY 2030
European Commission, Nov 28, 2023 – Today, the Commission is taking another step to make the EU’s energy system fit for the future by adopting the first list of Projects of Common Interest (PCIs) and Projects of Mutual Interest (PMIs) that is fully in line with the European Green Deal.
This list is adopted under the revised Trans-European Networks for Energy Regulation (TEN-E) which ends support for fossil fuel infrastructure and focuses on cross-border energy infrastructure of the future. It includes PCIs, which are projects within the EU territory, and for the first time PMIs, which connect the EU with other countries. The Commission will ensure the projects are swiftly completed and can contribute to doubling the EU’s grid capacity by 2030 and meeting its 42.5% renewable energy target.

SOUTH AMERICA:

Brazil’s Lula seeks to patch up tattered relations with Argentina’s Milei

Mercosur: Lula seeks to strengthen; Milei pledged to abandon

Buenos Aires Times, Nov 23, 2023 – Milei’s overwhelming victory in Sunday’s election cast doubt on Argentina’s relations with its neighbour, after the libertarian promised to stop doing business with Brazil and other nations he considers “socialist” during his campaign. Lula — a longtime ally of Argentina’s Peronist governments — backed Milei’s opponent in the race, and a team of his advisers worked for Economy Minister Sergio Massa’s campaign.
Lula, who has sought to strengthen regional trade and economic ties since returning to office, is also pushing forward with plans that Milei’s victory have made less certain. On Monday, he and European Commission President Ursula von der Leyen discussed ongoing efforts to finish an elusive trade agreement between the European Union and Mercosur — a South American bloc made up of Brazil, Argentina, Paraguay and Uruguay that Milei pledged to abandon during his campaign.

ASEAN More Stable Than EU, Mercosur: Business Group

On GCC members’ sanctions: ‘We don’t have ASEAN members sanctioning one another’

Jakarta Globe, Nov 11, 2023 – ….The ASEAN Business Advisory Council (BAC) — the bloc’s private sector group — recently said ASEAN had proven itself as an epicentrum of growth compared to other blocs….
“Intra-ASEAN trade has grown tenfold compared to 25 years ago. Intra-Mercosur trade only rose by 1.5-fold within 20 years,” Bernardino Moningka Vega, the alternate chair of ASEAN BAC, said at a recent virtual conference….
“Fifteen years ago, if you asked someone who is an expert on the European economy, ‘which bloc would have its members leave — is it ASEAN or EU?’. They would not answer ‘EU’. But here we are, look at Brexit,” Bernardino said.
The Indonesian businessman also brought up the sanctions among the Gulf Cooperation Council (GCC) members. This is an economic alliance of six Middle Eastern countries, namely Saudi Arabia, Kuwait, the United Arab Emirates (UAE), Qatar, Bahrain, and Oman.
“I remember the UAE and Saudi Arabia imposing sanctions on Qatar. We don’t have ASEAN members sanctioning one another,” Bernardino told the forum.

ARAB GULF:

What the Gulf states new unified visa means for Saudi, UAE, other citizens

Similar to EU’s Schengen visa

Al-Monitor, Nov 9, 2023 – The secretary-general of the Gulf Cooperation Council (GCC) on Wednesday approved a unified tourist visa for all the organization’s member states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates….
The new visa will work in a way similar to that of the Schengen visa, which allows stays of up to 90 days in any of the 27 European Union member states for tourism or business.

Germany’s Baerbock says European Union will be ‘vulnerable’ unless it enlarges

EuroNews, Nov 2, 2023 – “Putin’s Moscow will continue to try to divide not only Ukraine from us, but also Moldova, Georgia and the Western Balkans,” Baerbock said in a speech on Thursday.
“If these countries can be permanently destabilised by Russia, then that also makes us vulnerable, it makes us all vulnerable. We can no longer afford grey areas in Europe,” she added.

Globalisation in danger as protectionism, trade blocs gain momentum – report

Responding to post-pandemic inflation, geopolitical tensions

Business a.m., Oct 30, 2023 – Kathryn Dioth, CEO of the Hinrich Foundation, noted that global trade is experiencing fragmentation that threatens to undermine the achievements of globalisation over the last 70 years. According to her, protectionist trade policies are being enacted in the name of responding to post-pandemic inflation and geopolitical tensions….
Relatedly, the World Trade Organisation (WTO), in its 2023 World Trade Report, warned of the rising influence of regional trade blocs, the emergence of a more fragmented global economy, and an escalation of trade restrictions as a result of the hostile relationship between the United States and China. The report also noted that the Russian invasion of Ukraine has resulted in a focus on food security, leading policymakers to employ trade restrictions as a means of protecting food supplies.

ASEAN AI Governance and Indonesia’s Influence

ASEAN goal: Regional governance to harmonize member states’ AI standards, governance

Modern Diplomacy, Oct 24, 2023 – ASEAN has launched the Digital Economy Framework Agreement (DEFA) that should be finalized and agreed in 2024. One of the provisions of DEFA is AI Governance which focuses on the implementation of ethics and governance structure, cooperation on innovation and AI regulation, and harmonization of AI standards and governance. ASEAN’s goal to establish itself as an independent and strong regional country is reflected in its intention to harmonize any applicable AI standards and governances which are currently being adopted by ASEAN’s member states, for example, AI Verify by Singapore….

Mexico Is China’s Back Door Into The U.S. EV Market

‘Thanks to the USMCA, Mexico counts as U.S. soil’

CarScoops, Oct 22, 2023 – ….Mexico, Canada and the U.S. formed the USMCA (United States-Mexico-Canada Agreement) trade pact that gives cars made in Mexico a free pass across the border. It’s this deal that allows the likes of BMW, GM, VW and Ford the opportunity to build vehicles south of the border at reduced costs due to the lower wages it pays employees, and sell them at full U.S.-market price in America. And it’s this same deal that could allow Chinese brands such as BYD to set up production sites in Mexico and export cars to the U.S., neatly bypassing the hefty tariffs applied to cars imported to the U.S. from China.
The benefits would apply to both complete cars and components such as EV batteries. Under the terms of the Inflation Reduction Act, an EV and its battery must be built in the U.S. to qualify for the full $7,500 amount of tax credits, but thanks to the USMCA, Mexico counts as U.S. soil, as does Canada.

Mexico Plans to Become North American Manufacturing Base

Mexico Publishes Decree Granting Tax Benefits for the Export Industry to Promote Nearshoring

TAX INCENTIVES FOR PRODUCTION, EXPORT TO U.S.
National Law Review, Oct 19, 2023 – ….The Decree is designed to support companies operating in Mexico that are identified as key for the export industry and that seek to optimize their operations through the “nearshoring” strategy. With this Decree, the Mexican federal government aims to promote competitiveness, innovation, and investment in technology, and ultimately job creation and direct foreign investment.
The tax benefits included in the Decree will benefit entities subject to the general income tax regime or the simplified trust regime, as well as individuals with business activities in Mexico, involved in the production, processing, industrial manufacturing, and/or export of the following goods:

• Food products;
  Fertilizers and agrochemicals;
  Raw materials for the pharmaceutical industry;
  Electronic components;
  Metering and electronic medical equipment, for medical use;
  Batteries and accessories for electrical installations;
  Gasoline, hybrid, and alternative fuel engines for cars, vans, and trucks;
  Automotive electrical and electronic equipment;
  Internal combustion engines, turbines, and transmissions for aircraft;
  Medical, dental, and laboratory equipment and devices; and
  Cinematographic or audiovisual works.

In addition to the “Nearshoring” trend, other trends include “friendshoring” and “allyshoring.” These terms refer to situations where the decision to relocate a production plant is influenced by political factors or common interests between the manufacturing location and the final destination for a product (for example, Mexico and the United States)….
As part of the enactment of the CHIPS Act, Mexico was invited to join efforts in promoting semiconductor manufacturing and to integrate products manufactured within its borders to the semiconductor supply chain in the United States.
HOW A BOOMING GUN BUSINESS IN THE U.S. ARMS MEXICO’S CARTELS
AS BIDEN FACES MOUNTING PRESSURE TO CONTROL OPEN BORDER
Marketplace, Oct 19, 2023 – Once small-time operations that moved a couple of guns at a time, in recent years the trade has become more sophisticated, said Craig Larrabee, special agent in charge for Homeland Security Investigations in San Antonio….
“You’ll have somebody make a purchase from a federal firearms licensee, like a gun shop, or a gun show or a person-to-person sale,” Larrabee said….
Then the guns are usually taken to a stash house, which could be a residence or a storage unit. From there, another person will pick up the weapons and hide them in a vehicle.
“Then they’ll be smuggled across and sent to the purchaser down in Mexico,” Larrabee said.
This is happening as the administration in Washington faces mounting political pressure to better control what and who crosses the border.
CPKC AND CSX FILE PLANS PAVING WAY TO MEXICO-SOUTHEAST CORRIDOR
FreightWaves, Oct 17, 2023 – Class I railroads CSX and Canadian Pacific Kansas City (CPKC) have requested Surface Transportation Board approval to acquire portions of a southern U.S. short line in a bid to create more efficient rail freight flows between Mexico, Texas and the southeast U.S….
Mexico and the U.S. Southeast are “two of the fastest-growing regions connecting through a third (Texas),” longtime transportation analyst Tony Hatch told FreightWaves. Indeed, their competitors — Norfolk Southern (NYSE: NSC) and Union Pacific (NYSE: UNP) — have also expressed interest in beefing up offerings among those regions.

South Asian Connectivity: Pakistan’s Dilemma – Stuck On The Outside Looking In

Friday Times, Oct 19, 2023 – “Pakistan is stuck on the outside looking in, and in its own region. It’s why Pakistan is scoping out opportunities elsewhere,” says Michael Kugelman, Director of the South Asia Institute at the Wilson Center. “Pakistan recognises its options are limited within South Asia.”
It’s hard for Pakistan to hone in on relationships closer to home because India has so much influence in South Asian countries. Also, Pakistan’s chronic economic stress does not help its cause. Kugelman adds that India has effectively sought to sideline SAARC by turning to sub-regional groupings, like BIMSTEC, of which Pakistan isn’t a member….

EUROPEAN UNION – ‘MADE IN EUROPE’:

Europe’s Chip Ambitions: A Shift from Globalization to Regionalization

EU subsidies to make bloc ‘more sovereign’ in chip industry

Business Times, Oct 1, 2023 – This move by Europe follows the U.S. government’s introduction of the “Chips and Science Act” in August of the previous year. The European response not only signifies a return to industry policies centered around financial subsidies in major Western economies but also indicates a potential shift from an East Asia-centric global semiconductor supply chain to a more regionalized model.
At the heart of the “Chip Act” is the EU’s plan to invest 43 billion euros in financial subsidies by 2030, with 11 billion euros earmarked for the research and development of advanced chip technologies….
German Economic Affairs State Secretary Franziska Brantner once stated that the act “strengthens Europe’s semiconductor production, making us stronger and more sovereign in this strategically important industry.”

SE ASIA:

‘Baby steps’ for ASEAN as it wraps up first-ever joint military drills

Al Jazeera, Sep 25, 2023 – The 10 countries of the Association of Southeast Asian Nations (ASEAN) have wrapped up their first-ever joint military drills.
COMMENTARY: WILL ASEAN’s FIRST JOINT MILITARY EXERCISE PREPARE IT FOR FUTURE CRISES?
Channel News Asia, Sep 27, 2023 – All 10 ASEAN members participated, with Brunei, Indonesia, Malaysia and Singapore deploying warships…. In fact, the initial exercise location in the South China Sea suggests a signal by Indonesia to China that the latter’s claim to the entire South China Sea is contested…. No single ASEAN member has sufficient air and sea-lift capabilities to evacuate their nationals from Taiwan. A joint ASEAN humanitarian mission may be necessary.
TIME FOR AUSTRALIA TO BECOME A FULL ASEAN PARTNER
Australian Strategic Policy Institute, Sep 28, 2023 – The justification for Australia enlisting was succinctly offered by former prime minister Kevin Rudd in this aside in his 2021 In the National Interest essay, ‘The case for courage’:

ARAB GULF – GCC:
UAE: SINGLE VISA FOR GCC RESIDENTS TO TRAVEL WITHIN MEMBER STATES SOON?

Khaleej Times, Sep 26, 2023 – The six-country Gulf Cooperation Council (GCC) is considering a single visa system that will see its residents travel freely between member states, a UAE minister has said. Bloomberg quoted Abdulla Bin Touq Al Marri, UAE Minister of Economy, as saying that the regime could be introduced “very soon”…. Earlier this year, Bahrain’s tourism minister had revealed plans for a GCC-wide “Schengen-style” visa for tourists.

THE NEW MERCANTILISM: ‘MADE IN EUROPE’ and the ‘GREEN DEAL INDUSTRIAL PLAN’

Call for a European green industrial policy

‘National budgets are not sufficient’; ‘Member States must empower the EU’s institutions’

‘Shifting focus from…splendid isolation towards a common European approach’
Euractiv, Sep 13, 2023 – ….Following the adoption of the US Inflation Reduction Act in 2022, Robert Habeck and Bruno LeMaire, Germany and France’s economic ministers, declared the need for a common European industrial policy, but since then, have relied on national measures….
Attempts at an EU response, namely the Green Deal Industrial Plan, have so far proved insufficient to face the scale of the competitiveness challenge Europe faces….For a truly European response, national budgets are not sufficient. A common industrial policy must create the space for more European funds to be spent quickly, simply and strategically….Member States must empower the EU’s institutions to take a more entrepreneurial, less risk-averse role in investing and transforming Europe’s clean industrial sector…. European industries need to get clean to maintain competitiveness. A green industrial policy should underpin such a new European economic model.
MACRON PLEDGES FRANCE WILL MAKE A MILLION ELECTRIC VEHICLES BY 2027
LOW-INCOME LEASE INCENTIVES FOR EV, ‘AS LONG AS IT IS MADE IN EUROPE’
The National, Sep 25, 2023 – French low-income consumers, who cannot afford the higher initial price tag of an electric car compared to a fuel-powered vehicle, could benefit from financial incentives to make the switch. They will soon be able to register to lease an electric vehicle – as long as it is made in Europe – at a cost of €100 a month.

VIDEO:
BRICS & Regional Regimes

The New American, Sep 5, 2023
The Deep State’s vision for a New World Order is rapidly advancing through the new mechanism known as BRICS, with each of those BRICS governments and regimes serving as an anchor in a broader regional government, explains The New American magazine’s Alex Newman in this episode of Behind The Deep State.
This regionalism is just an interim step on the way to globalism in a strategy outlined by people like Henry Kissinger and Klaus Schwab. Late last month, governments of Brazil, Russia, India, China and South Africa met in Johannesburg for the BRICS summit. They are working quickly to increase trade in the own currencies and roll out central bank digital currencies on the road to potentially setting up a BRICS currency. These are major developments on the road toward the New World Order, Alex warns.

VIDEO:
BRICS & The New World Order

Alex Newman with Alison Steinberg on OAN

ARAB GULF: GCC STRADDLES EAST AND WEST

The Belt and the Corridor: Gulf States capitalize on competing economic projects

IMEC Corridor connects EU, GCC and South Asia regions

ISPI, Sep 12, 2023 – For the Gulf Cooperation Council (GCC) states, the Belt and the Corridor aren’t antithetic initiatives: in both cases, the Gulf stands in a coign of vantage for business. The US-backed India-Middle East-Europe Economic Corridor (IMEC), officially launched on the sidelines of the G20 in New Delhi, has two instant –and also symbolic- implications for the Gulf…. China’s Belt and Road Initiative (BRI) and the newly-announced IMEC have their pivot in the Gulf region….
ISRAEL PM NETANYAHU CELEBRATES IMEC INDIA-GULF-EUROPE MEGA-RAILWAY
Haifa connecting hub
The New Arab, Sep 10, 2023 – A major railway and ports initiative announced on the sidelines of the G20 summit will connect East Asia, the Gulf, and Europe, with Israel to be a main connecting hub….
The GCC region is a vital source of natural resources for New Delhi, while Indian goods are popular in Gulf markets. The infrastructure project could see trade boosted between the two regions, as China looks to expand its influence in Asia via the Belt and Road Initiative.

SOUTH ASIA – SAARC, BIMSTEC:

How to revive SAARC?

The Annapurna Express, Sep 12, 2023 – Currently, only a few low-level meetings of SAARC and routine work of its institutions are taking place, which can neither inject required vitality to this regional body nor justify its relevance….
SAARC has aimed at establishing the South Asian Economic Union (SAEU), as declared by the 18th summit, but it has become a remote possibility—at least for the time being, given the absence of requisite steps up till now. Owing to the lack of elements of deeper integration, it will remain as an intergovernmental organization like the ASEAN, but not a supra-national entity like the EU….
The SAARC process can regain vitality once India and Pakistan agree to resolve their issues at bilateral forums, while enabling the regional forum to take its normal course. Afghanistan also must come out of its present peculiar situation without further delay so that it could meaningfully join the regional process.
ON MODI’S FOREIGN POLICY, HERE IS WHAT THE OPPOSITION GETS WRONG
Sub-regionalism is alive and kicking
Hindustan Times, Sep 14, 2023 – India has given up on regionalism by dumping the South Asian Association for Regional Cooperation (SAARC). But if it has given a new lease of life to the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and the Bangladesh, Bhutan, India, Nepal Initiative (BBIN), it doesn’t merit any recognition that sub-regionalism, with willing partners, is alive and kicking.

G20 admits African Union as permanent member

Reuters, Sep 9, 2023 – The African Union was made a permanent member of the G20, comprising the world’s richest and most powerful countries, Indian Prime Minister Narendra Modi said at the bloc’s summit in New Delhi on Saturday.
The African Union, a continental body of 55 member states, now has the same status as the European Union – the only regional bloc with a full membership. Its previous designation was “invited international organisation”….
The G20 previously comprised 19 countries and the European Union, with the members representing around 85% of global GDP, more than 75% of global trade and about two-thirds of the world population

FRACTURES IN EASTERN ‘FOOT’? (Daniel 2:40-43)

Indonesia’s Refusal To Join BRICS And Geopolitical Dynamics – Analysis

Ministers sense lack of unity among BRICS member countries

Concerns that BRICS ‘pro-Eastern, anti-Western’ led by China, Russia
Eurasia Review, Sep 8, 2023 – Indonesian Foreign Minister Retno Marsudi and Finance Minister Sri Mulyani opposed this idea. Sources cited in the article indicate that these ministers believed that there was a lack of unity among BRICS member countries, citing conflicts like the border tensions between India and China and the conflict between Russia and Ukraine. They also saw joining a group alongside Russia as a potential burden and felt it might align Indonesia with specific political blocs, contradicting Indonesia’s emphasis on a “free and active” foreign policy….
In this context, despite having many shared goals with the BRICS, Indonesia still has concerns that the BRICS might be evolving into a “pro-Eastern, anti-Western” group led by China and Russia, which adds uncertainty.

ASEAN launches world’s first regionwide Digital Economy Framework Agreement

Including digital trade, digital ID, digital payments

COMMITTEE TO MEET BY END OF 2023, CONCLUDE BY 2025
ASEAN.org, Sept 3, 2023 – ASEAN Economic Ministers launched the negotiations on the ASEAN Digital Economy Framework Agreement (DEFA) – touted to be the first major regionwide digital economy agreement in the world – at the ASEAN Economic Community Council (AECC) meeting today….
The launch of ASEAN DEFA negotiations comes after the endorsement of the ASEAN DEFA study at the 55th ASEAN Economic Ministers (AEM) meeting in Semarang, Indonesia last 19 August. The study identified nine core elements, including digital trade, cross-border   e-commerce, cybersecurity, digital ID, digital payments, cross-border data flows, and emerging topics that are expected to be covered in the negotiations of DEFA.
JAPAN NOW HAS TO DEAL WITH ASEAN ON A MORE EQUAL FOOTING
East Asia Forum, Sep 3, 2023 – As Japan’s status has diminished, ASEAN’s economic and political status has grown, elevating Southeast Asian interests globally. ASEAN combined GDP reached about US$3.6 trillion in 2022 — 85 per cent of that of Japan — and the region’s on a strong growth trajectory.

USMCA – ‘MADE IN NORTH AMERICA’:

Torres: Near-shoring is the hot topic to talk about right now

Chinese manufacturers move to Mexico, evade tariffs by taking advantage of USMCA

‘REGIONALIZATION IS THE ANSWER, AS WE’VE SEEN, AND WE’RE SEEING THE POSITIVE IMPACT OF THAT IN THE NORTH AMERICAN REGION’
Rio Grande Guardian, Sep 1, 2023 – Torres [president, founder, Interlink Trade Services] also spoke about the current trend of Chinese companies moving to Mexico.
“Mexico is becoming the new alternative because it offers proximity to the US, lower labor costs and access to preferential treatment under the USMCA, or the US-Mexico-Canada Agreement,” Torres said.
MEANWHILE:
MEXICO SAYS, ‘NO WAY,’ AS TRUMP, OTHERS VOW TO SEND U.S. MILITARY TO FIGHT CARTELS
msn.com | Dallas Morning News, Aug 31, 2023

The African Union and the Multipolar World

‘Africa needs to start working on a single African currency’; permanent seat on UN Security Council

The Republic (Nigeria), Sep 1, 2023 – ….The financial hybrid war on Russia, where the Western global financial systems were turned into war systems to crush out the Russian economy into military defeat, showed how folly it had been for the non-Western world to rely on financial systems they do not control…. The lessons drawn from Russia’s experience have led the group of Brazil, Russia, India, China and South Africa to contemplate a BRICS currency. Africa should not wait to want to join another currency or financial institution created for other global hegemons. Instead, Africa needs to start working on a single African currency, (the dream often ascribed to the controversial late Libyan leader, Muammar Ghaddafi)…. This would then translate to having the permanent UNSC seat allocated to the AU and not individual African countries. It would also mean having the UNSC seat used for the interests of the majority of the African continent and not a single country or a few political and business elites.

ARAB GULF COOPERATION COUNCIL:

A Mercantile Middle East

Should ‘implement the GCC Common Market’; integration of non-GCC Middle East nations

International Monetary Fund, Sep 2023 (Guest opinion: Nasser Saidi, Aathira Prasad) – Greater integration of non-GCC Middle East nations with the GCC will lead to more intraregional trade and greater global integration (via the GCC’s existing global linkages and participation in global value chains). With the growing global economic integration of the GCC nations and their concerted effort in supporting the region’s other nations (via increased trade and investment deals with Egypt and Iraq, for example), they can be a conduit for greater integration of the rest of the region into world trade.