Ruble and Rupee | 175 comments (175 topical, editorial, 0 hidden)

Japan to invest $42B in India to strengthen economic ties, 19 Mar, FDI

over the next five years in a deal that is expected to boost bilateral trade.
Kishida met his counterpart, Narendra Modi, in New Delhi during his maiden visit to India since assuming office. The two leaders held talks ranging from economy to security cooperation.
[...]
India says ties with Japan are key to stability in the region. The two nations, along with the United States and Australia, are members of the Indo-Pacific alliance known as "the Quad" that is countering China's rising influence in Asia. India is the only Quad member that has not condemned Russia's invasion of Ukraine.
[...]
The bilateral trade between India and Japan for 2019-20 crossed $11.87 billion, according to government data. India's exports from Japan amounted to $3.94 billion while India's imports from Japan stood at $7.93 billion.
In September, the Quad leaders announced Japan would work with India on a $100 million investment in COVID-19 vaccines [!] and treatment drugs.

HANKYOREH | S. Korea drops to No. 2 spot in Chinese import market due to Taiwanese semiconductors, 16 Mar

Compared to other countries' market share in China's import market, South Korea's decline was relatively fast. Korea's share fell by 1 percentage point from 9.8% between 2012 and 2016 to 8.8% between 2017 and 2021. During the same period, the shares of six ASEAN countries -- Malaysia, Thailand, Indonesia, Singapore, Vietnam, and the Philippines -- and Taiwan rose 2.5 points and 0.8 points, respectively. The US figures, like Korea's, fell by 1 point. Japan and Germany fell 0.5 and 0.3 points, respectively, while France rose by 0.1 points and the UK's figures remained unchanged.
[...]
In 2020, the US blacklisted SMIC, the largest semiconductor foundry in China, and effectively restricted the export of semiconductor technology and equipment by domestic companies to China.

Is Yoon's earlier than expected call with Australian PM his first bid at joining Quad?, 17 Mar
archived post-Edo

by Cat on Sat Mar 19th, 2022 at 05:34:26 PM EST

Re: APsplainin Rupee and Yen (none / 0)

https:/asiatimes.com/2022/03/khan-duels-with-eu-on-russia-ukraine-neutrality
"Islamabad irked by Western pressure to condemn Russia's invasion as perceptions mount Pakistan is firmly in Russia-China camp"

by Tom2 on Sun Mar 20th, 2022 at 07:35:15 PM EST
[ Parent ]

parity watch - Pakistan Rupee (none / 0)

PKR:SAR, !:0.02
PKR:RMB, 1:0.03
PKR:HKD, 1:0.04

PKR:USD, 1:0.005
PKR:EUR, 1:0.005
PKR:GBP, 1:0.004
PKR:JPY, 1:0.65
PKR:CFA franc, 1:3.28

PKR:TYR, 1:0.08
PKR:ZAR, 1:0.08
PKR:TWD, 1:0.15
PKR:INR, 1:0.42
PKR:RUB, 1:0.57
PKR:KRW, 1:6.70

m'k. The pairs illustrate "onshore" (AE) demand for Pakistani commodity trade a/o 21 Mar. I don't "offshore" (EME) demand for PKR. I also don't know if there's ever been a period when Pakistan was not shut out of global "growth" mediated by IMF risk-rated "bi-lateral trade" denominated by imperial reserves. Khan's political dilemma has less to do with Ukraine than prior investment in BRI infrastructure, which undermines the EU's belated "Global Gateway" charm-offensive--a topic which attracted little eurotrib interest from OMICRON fifth wave west of the Rhine. Construction at Gwadar Port since 2016 has drawn sporadic, occasionally violent opposition by factions, distressed by "structural adjustment" to the local economy and military police stationed to guard it.

Economically, Pakistan and Russia signed an agreement for the Pakistan Stream Gas pipeline from Karachi to Kasur, and reached a price accord in December 2016, but progress on the project has been slow. Pakistan has also granted Russia access to the Gwadar Port, which is under development with Chinese capital.

Be that as it is, parliamentary drama in Pakistan, ostensibly related to a "corruption crusade" within its ranks as well as the ISI, has been brewing longer than 3 years--IOW, since US invade Aghanistan only to find OBL in PK. Such is the grist of "Red Zone Files" compiled by sundry political groups that reiterate government incompetance or defiance troubling western nationalists which have imposed sanctions on PK since 1990. Khan's last trip to Moscow further embarassed some MPS. How many will dissolve Khan's "populist" mandate in order to elect an replacement acceptable to western trade remains to be seen: a confidence vote eerily similar to any one performance by UK House of Commons over the prior decade.

by Cat on Mon Mar 21st, 2022 at 02:09:20 PM EST
[ Parent ]

Re: parity watch - Pakistan Rupee (none / 0)

The substack call applies to you too. It would be a nice place to have real discussions.

by Tom2 on Mon Mar 21st, 2022 at 02:25:45 PM EST
[ Parent ]

Thank you for this compliment, but no, (none / 0)

thank you.

I will see how this "community" plays out.

I did mention, one of my hobbies is (web)blog ethnography and why. In this capacity--longitudinal study of communication customs which I developed in grad school--I have noted in situ the predictive power of certain phases in proprietary maintenance of, or "pathways" to, dialogue (primarily *-EN) among website patrons which either strengthen correspondents' cohesion or signify imminent collapse. I have intimately observed four such localized collapses, spanning 2 - 6 years, since 2003. eurotrib is, however, the website (ICT exchange, URL) which I have studied for the longest period, 13 years, including a 5 year interruption of my own active participation with this cohort.

by Cat on Tue Mar 22nd, 2022 at 02:54:14 PM EST
[ Parent ]

Re: APsplainin Rupee and Yen (none / 0)

APsplainin Zelensk-* telethon UPDATE!, 23 Mar

Zelenskyy praised Japan for becoming the first Asian country to sanction Russia and asked Tokyo to go even further. He said trade with Russia should be banned and that foreign companies should withdraw from the Ukrainian market in order to prevent their investments from flowing into Russia.

fail

During his approximately 10-minute speech, Zelenskyy, appearing in his now trademark olive-colored top, also criticized Russian attacks on Chernobyl, currently entombed after the 1986 explosion, saying Russia turned a nearby nuclear waste storage site into a battlefield. Imagine, he said, how long it will take to clean up the situation there when the war is over.

archived Wed Apr 7th, 2021, Mon Dec 30th, 2019, Fukushima at Eight

Zelenskyy, speaking through an interpreter who translated his Ukrainian into Japanese, also raised an alarm about the possibility of Russia's use of nuclear and chemical weapons.

USC Shoah Foundation | "Rape of Nanjing"
The Memorial Hall of the Victims in Nanjing Massacre by Japanese Invaders | How Many Chemical Weapons did Japanese Army Use During the War?

by Cat on Wed Mar 23rd, 2022 at 05:31:32 PM EST
[ Parent ]

World POWs - "secondary sanctions" watch (none / 1)

CNN | Russia's invasion of Ukraine has foreign investors fleeing Taiwan. Here's why, 23 Mar

In the three weeks following the invasion, foreign investors dumped shares worth about 480 billion Taiwanese dollars ($16.9 billion), according to Alex Huang, director at Mega International Investment Services, a Taipei-based firm.
[...]
Taiwan had been gaining traction as a foreign investment destination in recent years, with strategists often bundling it together with India, China and South Korea in ["]a group of economies["] known as the "TICKS."
[...]
Shares on the Taiwan Stock Exchange were little changed between late February [24] and March 17, according to data provider Refinitiv. Huang said that was because several government-backed Taiwanese banksrecently went on a buying spree , helping mitigate the loss. He said that investors based in Taiwan weren't suffering the same loss of confidence, in part because many believed the two situations ["Ukraine and Taiwan" country risks] were dissimilar, and because of a consensus that the United States would step in to help defend the island in the event of a serious attack.

crisis management

In a report to clients, [Morningstar equity analyst Phelix Lee] said that investors had two concerns: fears of a Chinese invasion, and anxiety over the supply of raw materials, including neon.
[...]
Taiwan's currency [USD:TWD, 1:28.68] has also suffered. It has gone from serving as a "regional safe haven to geopolitical risk proxy" in recent weeks, according to Bank of America. "Geopolitical uncertainties over Taiwan are the biggest drivers of portfolio outflows," analysts there wrote in a note to clients earlier this month. They said that the Taiwanese dollar was "beginning to lag after a stellar year in 2021," after being hit by "a sharp increase in risk aversion" following the Russian invasion.

by Cat on Fri Mar 25th, 2022 at 10:34:38 PM EST
[ Parent ]

SIDEBAR - 2021 trade balance (none / 1)

Taiwan exports break records, show almost 30% growth in 2021

In 2021, China and Hong Kong were the largest buyers of Taiwan's goods, accounting for a total US$188.91 billion, up 24.8 percent from a year earlier, the MOF said.
The other major markets were the Association of Southeast Asian Nations (ASEAN) bloc (US$70.25 billion, up 32 percent), the United States (US$65.70 billion, up 30.0 percent), Europe (US$38.49 billion, up 36.8 percent) and Japan (US$29.21 billion, up 24.8 percent).

by Cat on Fri Mar 25th, 2022 at 10:50:13 PM EST
[ Parent ]

World POWs - "secondary sanctions" bloc (none / 0)

Politico | Biden's summit with Southeast Asian leaders ["indefinitely"] postponed, 25 Mar

President Joe Biden will instead meet on Tuesday [29 Mar] with Singapore's prime minister, Lee Hsien Loong, to discuss both U.S. interests in the Indo-Pacific region, such as supply chains and maritime security, as well as the bloody conflict in Ukraine.
[...]
"It seems that the event is experiencing scheduling turbulence, with more than one of the key ASEAN members unable to move or cancel pre-existing commitments on dates that the USA has proposed," said Kurt Tong, a partner at The Asia Group. "It is challenging given the long ten-member ASEAN roster and that organization's strong desire for inclusiveness."

ASEAN means business: Brunei (.BN, BND), Cambodia (.KH, KHR), Indonesia (.ID, IDR), Lao DPR (.LA, LAK), Malaysia (.MY, MYR), Myanmar (.MM, MMK), Philippines (.PH, PHP), Singapore (.SG, SGD), Thailand (.TH, THB), Viet Nam (.VN, VND)

by Cat on Sat Mar 26th, 2022 at 07:23:45 PM EST
[ Parent ]

Ruble and Rupee | 175 comments (175 topical, 0 editorial, 0 hidden)

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