MNI: Fed: Policy Well Positioned To Respond To Risks

CANADA JUNE JOBS -1.4K VS FORECAST +20K, PRIOR +26.7K

MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

EZ/UK Bond Supply Calendar: EU/UK Syndications Due Next Week

CANADA JUN IVEY PURCHASING MANAGERS INDEX 62.5 SA

MNI: BLS: NET PAYROLLS REVISIONS FOR MAY, APRIL -111K

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Defence Ministers Hold First Call In Nearly Two Years

US-CHINA
EM BulletHomepagemarkets-real-timePolitical Market NewsPolitical RiskEmerging Market NewsPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

(MNI) London - US Secretary of Defence Lloyd Austin III held a call with his Chinese counterpart Admiral Dong Jun earlier today, marking the first lengthy communications between the countries two top military ministers in nearly two years. The previous occassion came in November 2022, when Austin met with then Chinese Minister of National Defense General Wei Fenghe at the ASEAN Defence Minsters Meeting in Phnom Penh, Cambodia.

  • Inside Defence reports a senior US defence official "...saying the intent is part of the broader Biden administration effort to ensure that competition with China “doesn’t veer into conflict.” [...] “This is an important step,” said the official, who noted that the Pentagon and the Chinese military continue to discuss opportunities for further engagement."
  • Military communications between the US and China were broken off in December 2022 when then-US House Speaker Nancy Pelosi (D-CA) visited Taiwan.
  • While geopolitical rivalry between the US and China in the Indo-Pacific remains evident, increased direct communication between the two countries militaries would markedly reduce the prospect of an escalation via miscalculation.
  • The major threat to regional stability in the short term likely comes not from a direct attack by either nation, but by miscommunication or a miscalculation by military forces in the region that spirals into a broader conflict. Resuming regular talks could reduce the prospect of this scenario.
222 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

(MNI) London - US Secretary of Defence Lloyd Austin III held a call with his Chinese counterpart Admiral Dong Jun earlier today, marking the first lengthy communications between the countries two top military ministers in nearly two years. The previous occassion came in November 2022, when Austin met with then Chinese Minister of National Defense General Wei Fenghe at the ASEAN Defence Minsters Meeting in Phnom Penh, Cambodia.

  • Inside Defence reports a senior US defence official "...saying the intent is part of the broader Biden administration effort to ensure that competition with China “doesn’t veer into conflict.” [...] “This is an important step,” said the official, who noted that the Pentagon and the Chinese military continue to discuss opportunities for further engagement."
  • Military communications between the US and China were broken off in December 2022 when then-US House Speaker Nancy Pelosi (D-CA) visited Taiwan.
  • While geopolitical rivalry between the US and China in the Indo-Pacific remains evident, increased direct communication between the two countries militaries would markedly reduce the prospect of an escalation via miscalculation.
  • The major threat to regional stability in the short term likely comes not from a direct attack by either nation, but by miscommunication or a miscalculation by military forces in the region that spirals into a broader conflict. Resuming regular talks could reduce the prospect of this scenario.