South China Sea Islands | Pressuring Myanmar | Banesco Takeover

Council on Foreign Relations Newsletter If you are unable to see the message below, click here to view. May 4, 2018 Daily News Brief   TOP OF THE AGENDA U.S., Australia Warn China Over Militarizing Islands Top officials from the United States and Australia expressed alarm over reports that China has deployed missiles to three outposts on the Spratly Islands in the South China Sea. China installed anti-ship cruise missiles, as well as surface-to-air missile systems, according to the reports, which cited unnamed sources said to be familiar with U.S. intelligence assessments (CNBC). The deputy assistant defense secretary for the region said the United States "should be concerned," noting that the move "looks like an effort to militarize" (SCMP) the islands. Australia's foreign minister said such a deployment would be contrary to China's statements (AAP) on not militarizing the disputed territories. ANALYSIS "For Beijing, controlling the [South China Sea] is a step toward regional preeminence and ultimately global preeminence," Tuan N. Pham writes for the Diplomat. "The South China Sea, which is home to more than two hundred specks of land, serves as a gateway to global sea routes where approximately $3.4 trillion of trade passes annually. The numerous overlapping sovereign claims to islands, reefs and rocks—many of which disappear under high tide—have turned the waters into an armed camp," Amanda Macias writes for CNBC. "The dearth of public information about China's activities in the South China Sea has hampered regional coordination and abetted China's ability to take incremental steps to consolidate control," writes CFR's Ely Ratner. PACIFIC RIM Abe, Xi Vow Cooperation on North Korea In a Friday phone call, Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping agreed to support North Korea's stated commitment (Nikkei) to denuclearization. This CFR Timeline looks at the history of North Korean nuclear negotiations. SOUTH AND CENTRAL ASIA U.S. Says Pressuring Myanmar Over Refugee Crisis In a letter to Bangladeshi Prime Minister Sheikh Hasina, U.S. President Donald J. Trump said Washington will keep pressure on Myanmar to "create necessary conditions" for the repatriation of Rohingya refugees (Dhaka Tribune) to Myanmar. PAKISTAN: The city of Nawabshah recorded a temperature of 122.4 degrees Fahrenheit (NYT) this week, a reading meteorologists say may be the highest-ever reliably recorded anywhere in the month of April. MIDDLE EAST AND NORTH AFRICA Syria Rescue Groups Says U.S. Has Halted Funding The White Helmets, a volunteer rescue organization in Syria, said it has not received money in weeks (CBS) from the U.S. government, which supplies a third of its funds. The State Department said its support is "under active review." In the Hill, CFR's Michael P. Dempsey examines the Syrian conflict's new fronts. ISRAEL: The Giro d'Italia, a three-week cycling race, begins its first section of the competition today, in Israel, before moving on to Italy. The race is Israel's largest-ever sporting event (Haaretz). SUB-SAHARAN AFRICA Canada Warns U.S. of Visa Abuse in Nigeria Canada has deployed officials to work alongside U.S. consular officers in Nigeria in an attempt to control an influx of Nigerians seeking asylum in Canada (Reuters) after traveling to the United States on valid visas. SOUTH AFRICA: Four workers were confirmed dead after an earthquake on Thursday caused a cave-in at a mine (SABC) west of Johannesburg. Three workers remain trapped. EUROPE Nobel Literature Prize Postponed to Next Year The Swedish Academy decided not to award a Nobel Prize in Literature (Guardian) this year following uproar over sexual assault accusations against the spouse of an academy member. It said it instead plans to award two authors in 2019. TURKEY: Turkey's main opposition party announced lawmaker Muharrem Ince as its candidate to challenge President Recep Tayyip Erdogan (Anadolu) in a June election. In a first, the party says it will ally with several right-wing parties (BBC) in hope of beating Erdogan. AMERICAS Venezuela Takes Over Leading Private Bank Venezuela's chief prosecutor announced the arrests of eleven executives from Banesco, the country's largest private bank, for alleged financial crimes aimed at devaluing the currency (Reuters). The government said it will take over the bank for ninety days. This CFR Backgrounder looks at Venezuela's political and humanitarian crisis. ARGENTINA: The central bank raised interest rates twice in a week as Argentina as the value of the peso continued to fall (FT), reaching an all-time low on Thursday. UNITED STATES U.S. Complains to China Over Laser Activity The United States has protested to China over several incidents of laser interference (DoD) in recent weeks, including one in which two U.S. servicemembers were injured, Pentagon spokesperson Dana W. White said. More than 1,100 economists, including Nobel laureates and former presidential aides, sent a letter to U.S. President Trump warning against the economic costs of rising protectionism (Hill).         Council on Foreign Relations — 58 East 68th Street — New York, NY 10065 CFR does not share email addresses with third parties. Forward This Email | Subscribe to CFR Newsletters | Unsubscribe - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -  

From: dailybrief@e.cfr.org

Date: May 04, 2018 at 10:05PM