China's nuclear weapons capabilities grow

Subject China's nuclear weapons capabilities. Significance China has strengthened its nuclear weapons capabilities over the past year, but the issue has not featured prominently in international relations and the US administration has not made nuclear weapons a priority in dealings with Beijing. Unlike other nuclear weapons states, China maintains a strict 'no first use' policy, but its nuclear policies are considerably more opaque than what is seen in US or even Russian government documents. Impacts New submarine-launched ballistic missiles will provide more reliable second-strike capacity than the more vulnerable land-based missiles. China's space and cyber capabilities could amplify the effects of a nuclear strike by paralysing the adversary's response capabilities. Chinese nuclear advances will increase the danger involved in US military intervention in conflicts between China and Taiwan or Japan. China's nuclear build-up may affect its security negatively overall, prompting neighbours to develop missile defence and other capabilities.

Significance The United States has stationed 600 paratroopers in the Baltic countries and will defend their airspace for the duration of the Zapad-2017 exercise in a bid to reassure NATO allies of Washington’s commitment to their security. Longer term, Washington's European Deterrence Initiative (EDI) is paying for a forward presence of additional US forces in Europe, construction of additional infrastructure and upgrades to existing facilities. Impacts The US military will seek to conclude detailed hosting agreements with Eastern European NATO countries. Poland and South Korea are likely candidates for an expanded permanent US forward presence. Repeated US congressional budget standoffs will worry allies awaiting longer-term infrastructure projects. Stationing US tactical nuclear weapons on NATO’s eastern borders would be more provocative to Moscow than EDI-funded rotations. Replacing incompatible cross-border railway gauges between the Baltic states and Poland will take over a decade.


Significance Although North Korea’s nuclear weapons and intercontinental ballistic missiles (ICBMs) are still rudimentary by international standards, Pyongyang’s threats of striking targets in the continental United States have more credible technological underpinnings than before. The development of North Korean ICBMs threatens to ‘decouple’ Washington from Seoul and Tokyo, whereby US security commitments to allies become less credible because Pyongyang could attack the US homeland. Impacts Budget battles in Washington preclude extensive investment in mainland US ballistic missile defence systems. However, further integration of Japan and South Korea into the US regional missile defence network is likely. State Department vacancies for ambassadorships and Washington-based Asia policy officials will hinder US reassurance efforts. US interception of North Korean smuggling vessels or overflying missiles risk military-to-military armed clashes.


2012 ◽  
Vol 39 (4) ◽  
pp. 859-880 ◽  
Author(s):  
PETER LEE

AbstractOver the past three decades Jean Bethke Elshtain has used her critique and application of just war as a means of engaging with multiple overlapping aspects of identity. Though Elshtain ostensibly writes about war and the justice, or lack of justice, therein, she also uses just war a site of analysis within which different strands of subjectivity are investigated and articulated as part of her broader political theory. This article explores the proposition that Elshtain's most important contribution to the just war tradition is not be found in her provision of codes or her analysis of ad bellum or in bello criteria, conformity to which adjudges war or military intervention to be just or otherwise. Rather, that she enriches just war debate because of the unique and sometimes provocative perspective she brings as political theorist and International Relations scholar who adopts, adapts, and deploys familiar but, for some, uncomfortable discursive artefacts from the history of the Christian West: suffused with her own Christian faith and theology. In so doing she continually reminds us that human lives, with all their attendant political, social, and religious complexities, should be the focus when military force is used, or even proposed, for political ends.


2019 ◽  
Vol 10 (1) ◽  
pp. 1-15 ◽  
Author(s):  
Alan Huang ◽  
Wenfeng Wu ◽  
Tong Yu

Purpose This is a literature survey paper. The purpose of this paper is to focus on the latest developments in textual analysis on China’s financial markets, highlighting its differences from existing works in the US markets. Design/methodology/approach The authors review the literature and carry out an experiment of sentiment analysis based on a small sample of Chinese news articles. Findings Based on the experiment of sentiment analysis, there is limited evidence on the association between sentiment and other contemporaneous or future returns. Originality/value The supply of financial textual information has grown exponentially in the past decades. Technological advancements in recent years make the programming-based analysis an effective tool to digest such information. The authors highlight the use of credible textual information and discuss directions of research in this important field.


Significance The CBRT is expected to respond at its regular monthly interest rate-setting meeting to the fall in inflation in January to 7.2%. However, while the nearly 50% slide in oil prices since last June has led to a sharp decline in headline consumer prices, core inflation has been hovering near 9% for the last four months -- significantly above the CBRT's 5% inflation target. Just as importantly, Turkey's currency has fallen to a record low against the dollar, losing 7% over the past month because of the increasing politicisation of Turkish monetary policy and mounting expectations that the US Federal Reserve (Fed) will begin hiking interest rates as early as June, putting Turkish assets under renewed strain. Impacts CBRT independence is becoming one of the main focal points for market concern about emerging markets. Heavy reliance on external sources of finance will leave Turkey highly sensitive to resurgent dollar and increased US Treasury yields. Renewed lira weakness is likely to persist in the run-up to elections in June, which could also coincide with rising US interest rates. That would put further pressure on the balance sheets of Turkey's heavily indebted corporate sector.


Subject Impact of the oil price drop on energy high-yield bonds. Significance The over 50% oil price drop since June 2014 is hitting bonds issued by energy companies, particularly those issued by sub-investment grade corporates. The US high-yield bond market has been growing rapidly over the past five years. The shale boom has generated considerable investment, mainly funded through the issuance of these bonds which benefit from historically low interest rates. As the oil price has plunged, the spread over Treasury yields paid by the average issuer in the energy subsector has more than doubled between July and the December 2014 peak. Impacts Yields currently offered by the energy subsector are not far from pricing in a default scenario. Persistently low oil prices will further darken the outlook for the energy subsector and the high-yield market generally. A possible default cycle in the energy sector could accelerate outflows, overstretching the sector further.


Significance Tokyo had prepared for a Hillary Clinton victory, and is alarmed by comments during Trump's election campaign that raise doubts over the US-Japan defence alliance and raise fears that economic cooperation will give way to conflict. Impacts As Abe diverts resources into stabilising US ties, other policy areas may receive less attention. Exchange rate policy could re-emerge as a point of tension in Japan-US relations. With the Trans-Pacific Partnership likely to collapse, Japan may inject fresh energy into the Regional Comprehensive Economic Partnership. US 'abandonment' would force Japan to strengthen its independent defence capabilities, sparking a destabilising arms race with China. The idea of Japan acquiring nuclear weapons is a non-starter.


Significance Criticism of his reforms, which involve sweeping cuts to government positions and an anti-corruption drive, has mounted in recent weeks despite initially receiving strong support from Shia politicians. However, parliamentarians are now openly debating whether parliament should withdraw its support for the reforms, with some even suggesting that Abadi should step down. Impacts Abadi's reform drive may stall if he is forced to reverse his cuts to government positions and create new ones to rebuild his support base. Failure to rein in public spending will affect Iraq's attempts to seek international financial assistance. Abadi's weakening would strengthen the Shia militias, and thereby reduce prospects for reconciliation with the Sunni community. It would also increase attempts by hardliners to sideline the US military in the fight against ISG. Abadi may well climb down on the public sector salary issue and attempt to depoliticise it.


Sign in / Sign up

Export Citation Format

Share Document