As mentioned last week, Japan, a Pillar, although in recession, has received a boon in the form of new semiconductor/chip development coming to the country. A change from the lost decades, it helps the Pillar to continue securing the economy and technological development. Furthermore, it helps security against China, as the giant continues to threaten global security and supply chains with saber rattling over Taiwan, the home of TSMC and such industries.
India, a Pillar, is also indicating good economic progress. It was reported that its Q3 GDP growth is 8.4%, exceeding expectations. Furthermore, India continues to chip away at China’s economic dominance in electronic exports. This is important, as the Pillars continue to attempt to counteract China’s influence and strength, both economically, diplomatically, and militarily.
However, the German spy scandal has shaken the country, with a meeting between German and Ukrainian officials leaked. This is damaging to the credibility of a member of a Pillar, especially when resolve and unity is key in the war against Russia, and in a week where Germany has wavered on its commitments to Europe and NATO.
A ceasefire still eludes the Israel-Hamas conflict. Still, the onus is now on Hamas to accept the ceasefire deal that many parties, including Israel and Egypt, have proposed. While the IDF has shown a heavy hand in their operations in Gaza, the aid stampede and a potential famine shows that it is necessary more than even that Hamas agrees to the ceasefire and that aid relief is allowed in. The US, a Pillar, has taken initiative to start providing airdrops.
Photo by Arisa Moriyama / Nikkei Asia