Chinese Oil Stocks Plunge as OPEC+ Talks Collapse; Bio Among Gainers – capitalwatch.com

author: Belinda Zhou    U.S. benchmarks continued to fall Friday morning due to coronavirus concerns despite economic data showing strong growth in the labor market. Employers in the U.S. added 273,000 jobs in February, which beats analysts’ forecast of 175 jobs. Wages in February increased 3% year-over-year. Chinese stocks in New York had a volatile day, with oil companies tanking the oil prices as of midday, following the collapse of the oil output talks. Gainers Healthcare companies performed strongly, and some gainers were among the non-frequenters like paper production, resorts, and…

South China Sea standoff: Beijing’s ‘sinister plan’ to take island off Philippines exposed | World | News

A key area of dispute between China and the Philippines is the Spratly Island chain located in the centre of the South China Sea, an area heavily militarised by Beijing. Described by many as “island fortresses”, China has engulfed the Spratly archipelago with man-made island bases. The moving of its aircraft carriers, airstrips and weapons into the region has earned the cluster of bases the nickname: “The Great Wall of Sand.” A leaked set of photos given to a Filipino newspaper showed just how elaborate China’s development of military bases…

South China Sea: Philippines issues 45 diplomatic protests over Chinese actions | World | News

China has clashed with several states in the region following its claim to several territories and island chains. Termed the nine-dash line policy, China has claimed several island chains well beyond its own waters such as the Spratly Islands which currently fall within Philippines’ territorial waters. The country’s Department of Foreign Affairs (DFA) has sent out 45 diplomatic complaints to Beijing, as reported by Inquirer.net. National Security Adviser Hermogenes Esperon Jr said the government had sent communications to China, to warn them of any further acts. He also added the…

South China Sea: US nuclear-powered aircraft carrier arrives in region – China on alert | World | News

The carrier arrived in order to dock in Vietnam amid China’s buildup of military personnel in the waters, a move likely to be watched with a close eye in Beijing. The USS Theodore Roosevelt arrived in order to protect what the commander of the US Pacific Fleet, Admiral John C Aquilino, termed as to safeguard their diplomatic relations with the state. Following 25 years since the two countries established diplomatic relations, Mr Aquilino described the relationship as “extremely important”. He added: “We are committed to a free and open Indo-Pacific…

The Marines want missiles that can chase down moving ships

As it shifts its focus toward a potential fight with another great power, the Marine Corps wants to be able to strike an adversary hard at sea. The Corps is looking for missiles that it can fire against enemy ships while they’re on the move. “That is what matters in a contested environment in the South China Sea,” Lt. Gen. Eric Smith, commander of Marine Corps Combat Development Command, told lawmakers Thursday. Visit Business Insider’s homepage for more stories. The US Marine Corps says it needs ground-launched missiles that can…

A world of unrest: Watchdog group counts dozens of flashpoints across the globe

If your nerves are on edge, it may just be from paying more attention to international news. Instability seems to reign in almost every region of the world, and the United States must deal with an ever-changing list of foreign policy crises. As of Feb. 6, the Center for Preventive Action—part of the Council on Foreign Relations, a nonprofit think tank—listed 26 “conflicts around the world of concern to the United States” on its interactive Global Conflict Tracker. Two were added to the list last year: political instability in Venezuela…

Nation’s US relations soar thanks to Duterte

By Huang Tien-lin 黃天麟 Philippine President Rodrigo Duterte is taking extreme measures again, announcing his decision to end the Visiting Forces Agreement with the US, which has been in place for 21 years. The agreement allows for a unilateral notice to end the pact, which then ceases after 180 days. Since it is the cornerstone of Philippine-US military cooperation, the decision is a direct challenge to the White House. The abolition would void two other agreements between the nations: the Mutual Defense Treaty and the Enhanced Defense Cooperation Agreement. It…

Why Vietnam Edging Closer, but not too Close, to the United States

The United States sent its second aircraft carrier in as many years to Vietnam this week, shortly after toughening up its treatment of the Southeast Asian country’s economic prowess over concerns about the bilateral trade imbalance. Vietnam went along with both moves, yet didn’t play up either. Vietnam and the United States are growing closer, despite their bitter war 50 years ago, as both hope to check Beijing’s expansion in the South China Sea, analysts say. However, Vietnam’s communist political system and pursuit of a multicountry foreign policy rather than…

A Cold War Movie’s (Wrong) Lessons About US-China Competition – The Diplomat

Advertisement Thirty years ago this week, the film adaptation of Tom Clancy’s internationally best-selling Cold War thriller The Hunt for Red October about a Soviet captain trying to turn his high-tech submarine over to the United States was released in theaters. The film enjoyed substantial cooperation from the U.S. Navy, which provided ships, submarines, and helicopters for the filming and, like the book it was based on, was praised for its technical accuracy and portrayals of naval operations, if not the quality of its Russian dialogue. Well-reviewed despite appearing just…

US Navy admiral says looming VFA termination a ‘bit disappointing’

US Admiral John C. Aquilino speaks during a news conference in Bangkok, Thailand on December 13, 2019. Panu Wongcha-um, Reuters/File MANILA – The United States Navy is a “little disappointed” with the impending abrogation of Manila’s Visiting Forces Agreement (VFA) with Washington but it still “values its alliance” with its Philippine counterparts, the commander of the US Pacific Fleet said Friday. “It’s a little disappointing,” Adm. John Aquilino said during a telephonic press briefing. “But at this point, we value our alliance with the Philippines. We continue to operate together…