&w=3840&q=100)
How a no-limits Russia-China pact is reshaping the post-war world order
The efficacy of India's military partnership with the US and the West, in general, may diminish as China emerges as a peer technological power with comparable military capabilities
Shyam Saran
Listen to This Article
Chinese President Xi Jinping paid an important visit to Moscow from May 7 to 10, his 11th since taking office in 2012. He was the chief guest at the celebrations of the 80th anniversary of Victory Day, marking the defeat of Nazi Germany and Imperial Japan by the allied forces – including the then Soviet Union and Republic of China. Mr Xi had attended similar festivities in Moscow 10 years ago. This year was special because not only was he the chief guest, but a unit of the Chinese People's Liberation Army (PLA) took part in the victory parade at
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
11 minutes ago
- News18
Sensex Tanks 950 Points, Nifty Below 25,000; Key Reasons Why Market Is Down Today
Last Updated: Indian equity markets witnessed a sharp sell-off across segments on Thursday; Know key reasons behind the crash Stock Market Crash: Indian equity markets witnessed a sharp sell-off across segments on Thursday, June 12, as weak global cues and profit-booking triggered a broad-based decline. Benchmark indices — the Sensex and Nifty 50 — fell nearly 1%, while broader markets followed suit with mid- and small-cap indices sliding over 1% each. The BSE Sensex opened marginally higher at 82,571.67 but soon turned negative, plunging as much as 853 points to hit an intraday low of 81,661.68. It eventually closed deep in the red. Similarly, the Nifty 50, which opened at 25,164.45, slipped below the key 24,900 mark during the session, touching a low of 24,871. The sharp fall wiped off substantial investor wealth. The total market capitalisation of BSE-listed companies dropped to around Rs 451 lakh crore, compared to ₹456 lakh crore in the previous session — a loss of nearly Rs 5 lakh crore in a single trading day. Why is the Indian Stock Market Falling on June 12? 1. Escalating Geopolitical Tensions Global markets, including India, were rattled by renewed geopolitical tensions in the Middle East. Asian and European indices fell sharply amid rising fears of a conflict between the US and Iran. According to reports by The Times of Israel, the US is evacuating non-essential personnel from the Middle East due to heightened regional tensions and the deteriorating status of nuclear negotiations with Iran. There is growing speculation that Israeli forces may strike Iran's nuclear facilities, adding to investor nervousness. Meanwhile, US President Donald Trump has reiterated his stance against allowing Iran to acquire nuclear weapons. The much-anticipated trade deal between the United States and China has failed to lift market sentiment, as investors were expecting a more comprehensive and conclusive agreement. On Wednesday, former US President Donald Trump claimed that China would supply the US with rare-earth minerals and magnets, while the US would continue to welcome Chinese students into its universities. However, the final terms of the deal still await approval from both Trump and Chinese President Xi Jinping. 'Our deal with China is done, subject to final approval with President Xi and me," Trump wrote on Truth Social. 'We are getting a total of 55% tariffs, and China is getting 10%… The relationship is excellent!" Despite this optimistic tone, market experts remain skeptical. 'There are reports of a possible agreement between the US and China. But the Chinese haven't officially confirmed anything," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 'Trump is talking about a 55 percent tariff on China and a 10 percent tariff on the US. Given his track record, it's too early to view this as a positive for markets." 3. Global Markets Weaken Amid Risk-Off Mood Global equities extended losses on Thursday, adding pressure to Indian markets as investors grappled with a combination of tepid U.S. inflation data, ongoing trade concerns, and heightened geopolitical tensions. European markets were poised for a subdued start, with futures on Germany's DAX and the UK's FTSE 100 down 0.8% and 0.4%, respectively. U.S. equity futures also indicated a flat-to-negative open, reflecting caution on Wall Street. Across Asia, MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2%, retreating from a three-year high recorded a day earlier. Japan's Nikkei 225 declined 0.5%, while key indices in China and Hong Kong also pulled back, reversing recent gains. 4. Dollar Slides as Fed Rate Cut Bets Rise The U.S. dollar weakened to its lowest level in nearly two months, amid rising expectations that the Federal Reserve could initiate rate cuts later this year. The dollar index, which tracks the greenback against a basket of major currencies, slipped to 98.246—its weakest since April 22—and was last seen at 98.419, down 0.04%. So far in 2025, the index has lost 10%. The retreat in the dollar followed softer-than-expected U.S. inflation data and lingering doubts over the durability of the recent U.S.-China trade framework. Combined with elevated geopolitical risks, this has prompted investors to scale back exposure to the dollar. According to Reuters, traders are now pricing in two 25-basis-point rate cuts by the end of 2025, and potentially up to 100 basis points by September 2026. 5. Oil Price Volatility Adds to Market Jitters Crude oil prices slipped on Thursday, following a sharp rally in the previous session driven by escalating tensions in the Middle East ahead of planned U.S.-Iran negotiations. Brent crude declined 0.7% to $69.28 per barrel after surging over 4% on Wednesday to hit a two-month high. top videos View all 'The spike in Brent crude to $70 on heightened security risks is a clear negative for oil-importing countries like India," noted Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 'Industries such as paints, tyres, aviation, and adhesives may come under pressure, while upstream oil producers stand to benefit." Shares of ONGC and Oil India gained up to 5% on improved realisation expectations, whereas oil marketing companies such as IOC, BPCL, and HPCL fell between 2% and 4.5% on margin concerns. Aviation and tyre stocks also saw declines due to rising input cost pressures, with MRF, CEAT, and IndiGo among the key losers. Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. tags : Nifty sensex Location : New Delhi, India, India First Published: June 12, 2025, 14:21 IST News business » markets Sensex Tanks 950 Points, Nifty Below 25,000; Key Reasons Why Market Is Down Today
NDTV
28 minutes ago
- NDTV
The World Can No Longer Ignore Bioterrorism As A Threat
A new case of alleged smuggling of biological materials into the US has occurred, with a Chinese student arrested on June 8 for posting four packages over a six month period to the University of Michigan. These contained biological materials for cultivating roundworm. Only days before that, two other Chinese nationals were charged for attempting to smuggle a crop-damaging fungus, Fusarium graminearum, into the same lab at the University of Michigan. Two separate cases involving Chinese nationals and the same US university is a red flag that American authorities would no doubt be investigating. More broadly, it raises concerns about inadequate oversight of international biological research collaborations. Roundworm is not a biological weapon, but the fungus smuggled in the earlier incident could be used to damage crops, which would be agricultural bioterrorism. Biological weapons are the use of bacteria, viruses, bacterial toxins and other biological material to inflict harm on humans, animals or crops. When used by nation states, it is called biowarfare, and when used by non-state actors (such as terrorist groups) it is called bioterrorism. Smuggling of dangerous biological materials is only one geopolitical aspect of biosecurity. Three years ago, an illegal laboratory was accidentally identified in Reedley, California, containing genetically engineered mice and a range of viruses. This lab was owned by a Chinese biotech company that was supposedly making COVID rapid antigen tests. For this one lab that was detected, how many other clandestine labs may be flying under the radar? And how many illegal importations of biological materials have never been detected? Bioweapons are called 'the poor man's nuke' because they are far more accessible than nuclear weapons. Whilst we do not know if there was nefarious intent around these few identified incidents, they highlight the risk of a Trojan Horse attack in any country, where biological weapons can be smuggled in using the postal service, or can be developed on site using a shopfront with a seemingly harmless purpose. We need screening, surveillance, early warnings, regulation, oversight and legislation to address this complex threat. Some methods exist for screening postal mail, which are specific for detecting anthrax, or which treat the mail with radiation or heat, but broader screening is needed. Early warning systems that use AI to detect potential biological attacks can improve preparedness. The technology for creating new viruses and genetic engineering of existing viruses to make them more lethal has advanced at a much faster pace than our systems for regulating biological risks. Gene synthesis has dropped in cost by more than 250-fold in a decade and Canadian scientists created an extinct virus, very closely related to smallpox, in a lab in 2017. This means the virus that caused smallpox, could be created in a lab. It could be smuggled into another country or created onsite in a rogue lab. Do it yourself (DIY) biology, too, is expanding rapidly, and self-regulated. The popularity of DIY biology means lab-in-a-box and other equipment are readily available for purchase online. This means terrorists could acquire all the necessary means to produce and then deploy a biological weapon. There is also the 'insider threat' where highly skilled insiders may collude with terrorist groups or hostile states within regulated laboratories. Currently most countries do not have adequate awareness or processes to detect espionage within universities. Nor do we have adequate legislation to urgently remove a suspected rogue scientist from a lab - the FBI investigation into the main suspect of the 2001 anthrax attacks in the US took years, which is too long for prevention of a planned biological attack. In terms of other laws and regulations, such as the Biological Weapons Convention (BWC), the Cartegena Protocol, local gene regulation laws and the International Health Regulations (IHR), none adequately address the need. The BWC focuses on nation states as actors rather than on terrorists, and is not enforceable or auditable. The role of legislation, regulation and governance on epidemic control is more important than ever.
Mint
33 minutes ago
- Mint
Japan Complains After China Fighter Jet Buzzes Patrol Plane
Tokyo has complained to Beijing after a Chinese fighter jet tailed a Japanese patrol aircraft over the weekend, flying as close as 45 meters from the aircraft, according to Japan's Defense Ministry. The Chinese J-15 fighter jet tailed a Japanese P-3C patrol aircraft for about 40 minutes last Saturday over international waters of the Pacific Ocean, a Defense Ministry statement said. A Chinese jet also followed a patrol craft for over 80 minutes the following day, it added. The Chinese fighter jet on Saturday made an 'unusual maneuver,' flying as close as 45 meters away at the same altitude, the statement said. The Chinese jet on Sunday cut in front of a Japanese aircraft in moves that risked causing an accident, the statement said. The ministry later confirmed that the encounter between the Chinese and Japanese planes was the closest in more than a decade. Ties between Tokyo and Beijing remain strained as China projects its military presence deeper into the region. The latest incident comes after Japan said that China simultaneously sailed two aircraft carriers, the Shandong and Liaoning, near remote Japanese islands in the Pacific Ocean for the first time over the weekend. 'We have expressed serious concern over this incident, and sought measures to prevent a similar incident from happening again,' Chief Cabinet Secretary Yoshimasa Hayashi said at a press conference Thursday, referring to the encounter between the planes. 'I would like to refrain from making definitive statements about the intentions of these moves by the Chinese military,' he said, adding that the Japanese government will continue to issue warnings as needed. No damage or injury resulted from the incident, the statement said. China's Ministry of Defense did not immediately respond to a faxed request for comment. The incident marks the first time since 2014 that a Chinese aircraft has flown within close range of a Japanese plane, and the third time overall, according to the Japanese ministry. That year a Chinese fighter jet flew as close as 30 meters from a Japanese plane on two occasions. With assistance from Mari Kiyohara and Lucille Liu. This article was generated from an automated news agency feed without modifications to text.
