WORLD THIS WEEK

In collaboration with National Institute for Advanced Studies, Bengaluru

Authored by Akriti Sharma, Ankit Singh, Padmashree Anandhan, Anu Maria Joseph, Femy Francis and Rishika Yadav, Genesy Balasingam, Sandra Sajeev D Costa and Dhriti Mukherjee

North Korea: Beijing and Pyongyang to further cooperation

On 29 July, North Korean leader Kim Jong Un met with the Chinese delegates as part of the 70th Korean War armistice anniversary. The Chinese delegation expressed that they want to further their ties and stated: "Reaffirmed at the talk was the stand of the parties and governments of the two countries to cope with the complicated international situation on their own initiative and steadily develop the friendship and comradely cooperation onto a new high stage."

China: Foreign Minister Qin Gang removed

On 26 July, The Strait Times reported the removal of Qin Gang as the Foreign Minister and the reinsating of former minister Wang Yi. The legislature did not announce any reason for his removal but stated that he will retain a Cabinet position. Qin Gang has

Taiwan: US to supply USD 345 million defence support

On 29 July, Japan Times reported that the US plans to supply Taiwan with USD 345 million worth of arms equipment and training. Defence Minister mentioned that critical defensive stockpiles, multi domain awareness, anti-armor and air-defense capabilities are part of the defence support. China expressed its displeasure; its spokeprson Liu Pengyu asked to: "stop creating new factors that could lead to tensions in the Taiwan Strait."

Timor-Leste: Visit by Portuguese PM

On 26 July, the government of Timor Leste reported that António Costa, Prime Minister of Portugal visited East Timor from July 25th and 26th, the first by a Portuguese Prime Minister since Timor's new executive took office on 01 July. Portugal aims to strengthen cooperation, friendship, and solidarity with the Portuguese-Speaking Community country, focusing on economics, Portuguese language, mobility, sustainable development, and global challenges.

Myanmar: NUG launches digital bank to support revolution

On 24 July, Myanmar Now reported that Myanmar's National Unity Government announces the soft launch of Spring Development Bank (SDB), the country's first digital bank, to support the anti-regime Spring Revolution. It aims to cut off junta funds and consolidate fundraising efforts. The bank will have 100 billion shares at USD 0.0001 each and plans to use Myanmar's frozen USD 1.3 billion foreign reserves as collateral. Initially, the SDB will allow deposits in multiple currencies and plans to serve 500,000 users within a year. While some doubt the bank's success due to complexities and duration of the revolution, NUG officials assured the security of user information. NUG Pay operations will be linked with the bank.

Thailand: Pressure on Pheu Thai Party

On 26 July, Bangkok Post reported that the Pheu Thai party is under pressure to expedite the process of forming a new government, as urged by some of its key figures. The party is currently mulling on the reasons behind its recent by-election defeat in Khon Kaen. This loss has prompted internal discussions and calls for the party to take swift action in establishing a stronger government. Pheu Thai's leaders are facing mounting demands to address the issues within the party and solidify their stance in Thai politics. The coming days are crucial as the party navigates its next steps to ensure a more effective political presence.

Sri Lanka: President of France in Colombo

On 28 July, President of France Emmanuel Macron arrived in Sri Lanka for the first time. He met with the President of Sri Lanka, Ranil Wickremesinghe, and held bilateral talks on regional and global issues of mutual interest. Sri Lanka and France are celebrating 75 years of diplomatic ties. President Macron tweeted: “Sri Lanka and France are two nations in Indian Ocean sharing the same goal: an open, inclusive and prosper indo-pacific. In Colombo we confirmed it: strong as in our 75 years of diplomatic relations, we would open a new era to our partnership.”

India: Sri Lanka’s President in New Delhi

On 21 July, the President of Sri Lanka, Ranil Wickremesinghe arrived in India. He met with the President of India, Droupadi Murmu, and the Prime Minister of India, Narendra Modi. Both countries discussed regional and global issues of mutual interest. One of the key focus of the visit was the joint projects undertaken by the two countries.

Prime Minister of India tweeted: “Glad to welcome President Wickremesinghe. I congratulate him on completing a year in office and working for Sri Lanka’s progress with great courage. Sri Lanka is key to our 'Neighbourhood First' and 'SAGAR' efforts and thus, we discussed ways to deepen bilateral ties.”

Yemen: UN orders an operation to remove oil from a decaying supertanker

On 25 July, the UN began transferring one million barrels of oil from a supertanker in Yemen that had been moored off to the Red Sea coast. UN SecretaryGeneral Antonio Guterres said: “The United Nations has begun an operation to defuse what might be the world’s largest ticking time bomb.”

Syria: Blast kills six lives

On 27 July, six people were killed and many more were wounded after a bomb was placed by unidentified people in a taxi near Syria’s most visited Shia pilgrimage site. The blasts happened a day ahead of Ashura – which is a day of mourning for Shia muslims. The Syrian Interior Minister has termed it a ‘terrorist bombing’.

Russia: The Africa summit at St Petersburg

On 27 July, the second RussiaAfrica Summit began in the Russian city of St Petersburg. Representatives of 49 African countries including 17 heads of state attended the summit. The war in Ukraine and food insecurity following the Russian withdrawal from Black Sea Grain Initiative were the main agenda of the summit. Russian President Vladimir Putin has promised free grain supplies to six African countries. Putin stated: “In the coming months, we will be ready to provide Burkina Faso, Zimbabwe, Mali, Somalia, the Central African Republic and Eritrea with 25,000-50,000 tonnes of grain free of charge." The participants signed a joint declaration that called for “the establishment of a more just, balanced and stable multipolar world order, firmly opposing all types of international confrontation in the African continent."

EU: Council adopts new regulation to control emission of greenhouse gases from maritime sector

On 25 July, a new regulation called 'FuelEU maritime' was introduced by the Council to lower the carbon footprint of the EU's maritime industry. The regulation aims to enhance transparent mechanisms for ship operators and fuel producers. It will help kick-start large-scale production of sustainable maritime fuels, thereby significantly delivering on European and global climate commitments. This initiative is a key component of the EU's Fit for 55 package and it aims to increase demand for and consistent use of renewable and low-carbon fuels.

UK: Foreign Secretary calls for renewed partnership commitments with Middle East

On 25 July, James Cleverly, UKs Foreign Secretary, started his three-day official tour to Qatar, Kuwait and Jordan to emphasise the UK’s growing partnership with the region – as critical partners in energy, defence and security cooperation. This trip explores various opportunities to strengthen cooperation and economy between the countries. Representatives from UNHCR (the UN’s refugee agency) and the World Food Programme met foreign minister, the minister announced UK’s funding to support women and girls and to help the most vulnerable refugees in Jordan.

The US: Biden welcomes Italian PM at White House

On 27 July, President Joe Biden hosted Italian Prime Minister Giorgia Meloni at the White House, as Italian PM assented to support the U.S.’s effort in aiding Ukraine. Earlier, Meloni had expressed her willingness to pull Italy out of China’s Belt and Road Initiative. The joint statement reaffirmed unshakable alliance, strategic partnership, and deep friendship between the United States and Italy.

Bolivia: To trade in RMB, following Brazil and Argentina

On 27 July, Economy Minister said that Bolivia conducted 10 per cent (USD 38 million) of its foreign trade in RMB. While mentioning commodities under RMB transactions, he said: “Banana, zinc, and wood manufacturing exporters are conducting transactions in yuan, as well as importers of vehicles and capital goods.” According to the director of the Asia & Latin America Program at the Washingtonbased Inter-American Dialogue, the countries conducting trade in RMB are looking to establish stronger ties with China.

Argentina: IMF approves disbursement of USD 7.5 billion loan

On 28 July, IMF, in a press release, announced combined loan disbursement of the fifth and sixth review while noting down that: “Key programme targets through end-June were missed on account of the larger-thananticipated impact of the drought, as well as policy slippages and delays.” Argentina had signed a thirty extended fund facility of USD 44 billion in March 2022.

About the Authors

Akriti Sharma and Ankit Singh are PhD scholars in the School of Conflict and Security Studies at the National Institute of Advanced Studies. Padmashree Anandhan, Anu Maria Joseph, Femy Francis and Rishika Yadav are Research Associates at NIAS. Genesy Balasingam, Sandra Sajeev D Costa and Dhriti Mukherjeee are Research Interns at NIAS.