Latest news with #GriffithAsiaInstitute
ABC News
23-05-2025
- Politics
- ABC News
Australia's foreign minister wraps up Pacific tour
Over the past week, Australia's Foreign Minister Penny Wong has been on a three-nation Pacific tour visiting Fiji, Tonga, and Vanuatu. Her trip comes just two weeks after the Australian federal election, which saw the Labor party sweep back into power for a second back-to-back term. As part of her visits, Senator Wong has re-emphasised Australia's commitment to climate action in Fiji, funding health reform in Tonga and reviving a bilateral partnership with Vanuatu. Dr Tess Newton Cain, adjunct Associate Professor at the Griffith Asia Institute, said there's no denying the amount of work that's gone into building relations with the Pacific, including listening to regional concerns. 'I think it's a process, not a product. You can't kind of tick he box and say, "Okay, we've done the listening now," said Dr Cain. She said the key now is whether the Australian government can sustain the pace it set in the first term. Dr Newton Cain also expects the face representing Australia in the region to change, with Assistant Minister Matt Thistlethwaite taking up a more prominent role. 'Given everything else that's going on in the world, we may not see uh Senator Wong in the region very often.' 'So, it's good for him (Assistant Minister Thistlethwaite) to get a chance to get his feet on the ground and meet some of the people that he's going to be dealing with,' said Dr Newton Cain.
CNA
15-05-2025
- Politics
- CNA
Dr Peter Layton on Russia-Ukraine talks
Confusion surrounds Russia-Ukraine talks in Turkiye, with both sides trading insults and Russian President Putin's no-show. The Istanbul meeting is just the latest diplomatic back and forth between the warring countries. Efforts to mediate an acceptable resolution began well before Russia's invasion of 2022. We look back at the different negotiations that have taken place. CNA also speaks to Dr Peter Layton from Griffith Asia Institute at Griffith University.
Zawya
07-04-2025
- Business
- Zawya
China's BRI remains strategic and agile amid global uncertainty
China's Belt and Road Initiative (BRI) marked a record-breaking year in 2024, with over $70.7 billion in construction contracts and $51 billion in investments, according to China Belt and Road Initiative Investment Report 2024 co-published by the Griffith Asia Institute (GAI), part of Australia-based Griffith University and the Green Finance & Development Centre (GFDC) of Fanhai International School of Finance (FISF), China. The report highlights the Middle East as the top regional recipient of Chinese BRI engagement, securing $39 billion across key sectors such as fossil fuels, infrastructure, and renewable energy. Dr. Christoph Nedopil, founding director of the Green Finance & Development Centre and Professor and Director of GAI, shared his insights with Zawya Projects on the driving forces behind this surge, evolving investment patterns, and the growing shift towards greener, technology-driven projects under the BRI. 'In 2024, we identified BRI projects totaling over $120 billion—a record high since the initiative's launch in 2013. This surge might seem surprising given the slower growth of the global economy, including China's, compared to the early years of the BRI,' he said. Nedopil said that given China's economy is now nearly twice the size it was in 2013, with numerous world-leading companies emerging — especially in technology and infrastructure — the continued global expansion of Chinese businesses, including those within the Belt and Road Initiative framework, is a "natural progression." He emphasised that despite global market uncertainties, Chinese businesses are expected to remain agile and strategic. 'We are likely to see strategic investments in BRI countries, including efforts to navigate export restrictions, support 'new-age friend-shoring,' or seize opportunities left open by other partners — particularly in natural resources,' he added. Excerpts from the interview: The Middle East led Chinese BRI engagement with $39 billion in investments and construction deals. What is driving this focus, and which sectors benefit most? China's strong engagement in the Middle East has been driven largely by the fossil fuel sector, particularly gas. Major construction deals include oil processing projects in Iraq, gas-related infrastructure such as pipelines and a gas-fired power plant in Saudi Arabia. Other massive deals include the Saudi subway construction. Chinese companies have also invested in renewable energy in the region, as well as in steel and energy technology, particularly in Saudi Arabia. The report highlights China's greenest energy investments yet, with renewable projects hitting $11.8 billion. What's driving this shift, and how does it compare to past BRI trends? BRI energy investments have become increasingly green, particularly following China's decision to halt overseas coal financing in 2021. In 2024, this trend reached a new high, especially in energy generation projects. Additionally, investments extended to the establishment of solar PV and battery manufacturing plants. This shift is driven by two key factors. On the supply side, Chinese companies have become global leaders in green energy technologies, enabling their expansion abroad. On the demand side, green energy remains highly attractive due to its economic benefits—lower electricity costs for industry and households, alignment with low-carbon development goals, and job creation. While BRI construction deal sizes are growing, investment deal sizes are shrinking. What does this indicate about China's evolving investment strategy under the BRI? The trend of rising construction deal sizes alongside shrinking investment deal sizes should be interpreted with caution. A few exceptionally large construction deals in 2024, particularly in the Middle East, have skewed the overall figures. That said, this trend does indicate that Chinese companies remain highly competitive and capable of delivering multi-billion-dollar mega-projects. On the investment side, the data suggests a broader participation of Chinese companies in BRI countries, even if on a smaller scale per project. China's BRI strategy appears to be shifting from large infrastructure projects to 'soft' sectors like technology, digital connectivity, and financial services. What's driving this change, and how does it support China's long-term economic goals? The BRI has gradually shifted from a focus on public infrastructure, such as transport projects, toward revenue-backed projects. Large-scale fossil fuel projects, such as in the Middle East, offer clear revenue streams, providing Chinese developers with greater confidence in cost recovery. This contrasts with public infrastructure such as road projects, which often rely on government fiscal strength, creating more uncertainty in emerging economies. Additionally, China's rapid advancements in technology have fuelled greater engagement by Chinese tech companies in BRI markets. This aligns with China's long-term economic goals of enhancing global competitiveness in high-tech industries and digital infrastructure. Given escalating U.S.-China trade tensions, including increased tariffs and investment restrictions, how do you see these developments shaping China's BRI strategies—both in seeking alternative markets and adjusting investment focuses? Geopolitical uncertainty affects all players, but the fundamental goal of businesses remains unchanged: to generate commercial opportunities. Companies will seek sectors and markets where they feel confident in managing risks. If Middle Eastern countries continue to provide a stable environment for Chinese partners, there is little to prevent Chinese businesses from deepening their engagement in the region. The ability to navigate trade restrictions and build alternative supply chains will likely reinforce this trend. Earlier reports predicted BRI investments in 2023 would pivot toward green energy, digital infrastructure, and increased regional engagement. Looking back, which of these trends materialised as expected — and were there any surprises in how BRI investments unfolded? Looking back at my 2023 predictions, I recognise that forecasts are always subject to change. However, the data confirm increased engagement in green energy and technology, as expected. Additionally, there has been a shift toward investment in countries with stronger economic fundamentals and lower sovereign debt. For example, China's engagement in Pakistan reached its lowest level yet. What did surprise me was the strong resurgence of fossil fuel projects, particularly in the Middle East, as well as the rapid pace of investment in new energy vehicles and battery technologies. Looking ahead, what key trends or challenges do you foresee shaping BRI investments in 2025, particularly in the Middle East? Are there specific areas where we should expect increased Chinese engagement? In the Middle East, Chinese business opportunities will likely remain strong, driven by robust regional growth prospects, clear political strategies to diversify economies, and an ongoing construction boom. This will continue to fuel infrastructure-related investments, for example in energy generation and transportation. Additionally, I see great potential for joint project development between Middle Eastern and Chinese financial and commercial partners in third markets, such as Africa and Asia. (Reporting by SA Kader; Editing by Anoop Menon)
Yahoo
10-03-2025
- Business
- Yahoo
Ukraine's F-16 fleet is at risk from Trump. Can Europe replace it?
Trump's latest Ukraine moves put the future of F-16 fighter jets in Ukraine at risk. Europe has some jets that would suit Ukraine just as well, or even better. But there are far fewer of those planes and changing jet type now for Ukraine would be hard. US-made F-16s were the first Western fighter jets to arrive in Ukraine, and since then they've helped to defend the country against Russian air strikes. But President Donald Trump ordered a pause in US military aid to Ukraine last week, meaning Europe may need to find ways to fill the gaps, including in the air. Europe, home to Ukraine's staunchest allies, has fighter jets that are similarly suited to Ukraine, but there are far fewer of them, and switching to those jets would cause a host of problems that Ukraine can little afford. Ukraine began asking for F-16s almost immediately after Russia's full-scale invasion in February 2022, and celebrated their first arrival in August 2024. The jets, built by Lockheed Martin but supplied to Ukraine by the country's European allies, have had some notable successes in Ukraine. Peter Layton, a fellow at the Griffith Asia Institute and a former Royal Australian Air Force officer, said Ukraine's F-16s have shot down "numerous drones and cruise missiles," as well as hitting ground targets near the battlefield. And while air warfare experts say Ukraine has not been given enough of them to take on Russia near the front lines — or to change the wider direction of the war — they've been effective air defenses. Many of Ukraine's allies have more F-16s they could give, and Trump's actions could motivate them to send more. But because F-16s are American-made, Trump could block them from being sent to Ukraine. European countries had to wait a long time for US approval to send their F-16s in the first place. Layton said the US could also stop supplying spare parts, so that Ukraine's F-16 fleet "gradually goes unserviceable." And while European countries have plenty of spare parts, if the US withholds approval to transfer those, European nations "will not be able to supply Ukraine," he added. Ukraine already has some European jets: Mirage 2000s. But only a total of six have reportedly been committed so far. Those jets are seen as helpful for Ukraine, but not necessarily the best fit for the type of fight there. Sweden's Gripen aircraft, made by Saab, is widely seen as the best fit, even better than the F-16. It was designed with a fight against Russia in mind. As a result, it can take off from civilian roads and is easier to maintain. Justin Bronk, a leading airpower expert at RUSI, said that "on a platform level, the Swedish Griffin would be a better fit for Ukraine's requirements on almost every level, just platform to platform." But none of those jets have so far been committed to Ukraine. Europe also has other jets, like the Eurofighter Typhoon, but those haven't been committed either. A major problem facing Ukraine is that its program is heavily geared toward F-16s, and switching to another jet type would cause plenty of issues. When asked last month if Sweden was considering giving it Gripens, Pål Jonson, Sweden's defense minister, told Business Insider he was "having a dialogue" with Ukraine and other countries in the Air Force Coalition, a group of allies committed to helping Ukraine. But he said it's "more challenging for the Ukrainians to absorb another fighter," so Sweden was being advised to focus on sending airborne sensors that can provide command and control for the F-16s. Bronk said the Gripen could serve Ukraine just as well, or better, but "there's so much that goes and has gone into so far getting the F-16s up and running in terms of training — not just pilots, but maintainers — and getting all the logistics set up." He added that "you couldn't just swap them out quickly." Issues with training have created a bottleneck in getting the jets into the air over Ukraine and changing to a new type would create a whole new host of requirements. Mark Cancian, a defense expert at the Center for Strategic and International Studies, said that with new jets, "the major constraint is pilots, and you can't just rustle those up in a couple of weeks." He added that the important thing isn't so much the differences between F-16s and European jets, but the "timeline and numbers and costs." There's also another problem related to European aircraft: there are far fewer of each compared to the F-16. That's one of the main reasons the F-16 was seen as the best fit for Ukraine: there are lots of them, as well as plenty of spare parts and people qualified to work on them. George Barros, a Russia expert at the Institute for the Study of War, called the F-16 "sort of the ideal model because of how versatile and universal the system is." He also said that Europe could not train as many pilots on aircraft like the Gripen because "relatively fewer countries" operate them. Europe has vowed to keep supporting Ukraine, but losing US help requires a big increase in spending, and some weapons will be much harder to replace. Another jet type may be an option for Ukraine, if the F-16 is no longer available, but it's an option that comes with problems Ukraine can ill afford. Read the original article on Business Insider
Zawya
28-02-2025
- Business
- Zawya
Middle East leads in China's Belt and Road Initiative with $39bln in investments
Middle Eastern countries secured $39 billion in Chinese investments and construction contracts under the Belt and Road Initiative (BRI) in 2024, making them the top recipient of the infrastructure programme, according to the latest China BRI Investment Report 2024. The surge represents a 102 percent increase in Chinese construction contracts in the region, strengthening its position as a key partner for Beijing, the report, a joint initiative between Fudan International School of Finance and the Griffith Asia Institute said. Saudi Arabia led the rankings, attracting $18.9 billion in BRI engagement, followed by Iraq with $9 billion and the UAE with $3.1 billion. China's oil and gas investments reached a record-high $24.3 billion, with significant spending on processing facilities. A major component of this investment was an $8 billion oil refinery deal in Iraq. Green energy projects also gained traction, with China committing $11.8 billion to solar, wind, and waste-to-energy projects across the region. While Middle Eastern investments surged, Chinese engagement in Latin America dropped to its lowest level in a decade, and investments in Pakistan's China-Pakistan Economic Corridor (CPEC) continued to decline, falling 40 percent after a sharp drop the previous year. With global trade uncertainties and shifting investment strategies, experts anticipate continued Chinese focus on energy, mining, and infrastructure development in Middle Eastern economies in the coming years. (Writing by SA Kader; Editing by Anoop Menon)
