China’s growing foreign policy budget signals a proactive approach to deepening ties with the Global South and expanding its Belt and Road Initiative, at a time when the US is taking an isolationist turn under “ America first ”, according to observers. The Chinese finance ministry on Wednesday proposed that the “diplomatic endeavours” budget for 2025 be raised by 8.4 per cent to over 64.5 billion yuan (US$8.87 billion), marking a bigger jump than the 6.6 per cent last year. The hike for the military budget, meanwhile, was set at 7.2 per cent, the same as in 2024 and 2023. The proposed budget was submitted to China’s top legislature as Premier Li Qiang delivered the government’s annual work report to top lawmakers at the “ two sessions ”, the country’s
Tag Archives: Geopolitics
Feb
China and the rest of the world remain thirsty for oil. That means the commodity’s central and volatile role in geopolitics continues, with decades-old realities driving economics, trade, alliances and conflicts for the countries dependent on fossil fuels. Yet, change lies ahead. Last month’s short-lived rally underscores oil’s mercurial clout. Brent crude hit a four-month high of US$82 a barrel after the United States expanded sanctions on Russia and Iran. Oil-supply news shocks continue to have an immediate and enormous impact on the global economy; other policy shifts such as tariff increases matter too. Meanwhile, after years of production cuts, Opec+ members refuse to ramp up supplies before April, if even then. US President Donald Trump wants America to “drill, baby, drill” , thereby forcing prices down to the detriment
Jan
The family of a Japanese national who was just 13 when she was abducted by North Korean agents in 1977 have called on US President Donald Trump to intervene with Pyongyang and bring her and other abductees home – but experts say their wish may remain unfulfilled due to complex geopolitical realities. In a statement released on Tuesday, soon after Trump was sworn into office in Washington, 88-year-old Sakie Yokota said she hoped the president could use his connections with North Korea ’s leader Kim Jong-un to arrange the release of her daughter Megumi. “I want President Trump to urge North Korean leader Kim Jong-un to realise the rescue and return of the abduction victims,” Yokota said. “Mr Trump is a person who can talk with Mr Kim Jong-un.” The