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China’s arms sales rise as it vies with US for influence on the world stage

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THE rivalry between America and China has seen both sides step up international arms sales and transfers as they seek to strengthen military ties with key allies, according to a report published on Monday.

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The study by the Stockholm International Peace Research Institute (SIPRI), which examined the volume of international transfers of major weapons between 2008 and 2017, showed China’s arms exports represented 5.7 per cent of the world’s share of arms exports between 2013-17 – up by more than a third from the 4.6 per cent recorded between 2008-12.

The report was published a week after China unveiled an 8.1 per cent increase in military spending over a three-year period, although China’s state media defended the rise as proportionate and low, adding that it would not lead to an arms race with the United States.

The administration of US President Donald Trump has dubbed China as a “rival”, and the latest SIPRI report shows how the US has used arms transfers as a foreign policy tool to offset Beijing’s growing influence.

For example, US arms deliveries to India grew by 557 per cent between 2008 and 2017, the year China and India became embroiled in a protracted border dispute over the Doklam region in the Himalayas.

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“This development is part of the growing strategic partnership between the two countries under which the USA has begun to supply India with advanced military equipment,” the report said.

The US has also started to increase its security cooperation with Vietnam, which is embroiled in a dispute with Beijing over the South China Sea.

In 2017 it delivered one patrol ship, the USS Morgenthau, to Vietnam – the first major US arms transfer to that country.

Tensions between China and Japan in the East China Sea also saw Japan moving closer to the US, the report said.

It said Tokyo turned to the US for several types of advanced weapons between 2013 and 2017, including the first batches of a total of 42 combat aircraft.

Japan also ordered advanced air and missile defence systems from the US in the same period.

But in cases where US relations with other countries had deteriorated the result was a fall in arms transfers.

For example, the report said that Venezuela, which once relied on the US as its main arms supplier,

had rebuilt its armed forces with weapons from China and Russia after ties with Washington soured following the Hugo Chavez’s election as president in 1999.

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As China became increasingly capable of producing its own advanced weapons, its arms exports increased by 38 per cent and its arms imports decreased by 19 per cent in 2013-2017 compared with 2008-2012.

The report showed China delivered major arms to 48 countries in the past five years, with Pakistan topping the list, followed by Bangladesh and Algeria.

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“China was the largest arms supplier to Pakistan in 2008–12 and 2013–17. Although the volume of China’s arms exports to Pakistan remained roughly the same in both periods, its share of Pakistan’s arms imports rose from 45 per cent in 2008–12 to 70 per cent in 2013–17 due to the overall decrease in Pakistan’s arms imports between those periods,” the report stated.

The report also said China’s arms exports to Africa rose by 55 per cent over the period.

Military expert Collin Koh, from the S Rajaratnam School of International Studies at Nanyang Technological University in Singapore, said higher value military items like warships and fighter jets were the major reason for the rise in China’s arms exports.

“This is most notable in naval sales. For example, submarines to Pakistan and Thailand, and corvettes to Bangladesh and Algeria. Even with land-based systems, China has also made inroads in higher value sales, such as its long-range rocket artillery,” he said.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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