In what is slated to become Vietnam’s largest graft case in history, nearly 50 elite bankers are on trial in Hanoi for alleged graft and mismanagement in a joint stock bank that led to losses worth $69 million. Among those accused are Ocean Bank’s former chairman and general manager.
The American Backstory
China has been the largest buyer of Russian arms and technology for years, followed by India. The conflict in South China Sea (SCS) over islands and military infrastructure Beijing has put in place there is bringing together the military allies Russia and China on firmer footing than ever before in years after the Cold War.
South China Sea (SCS) is emerging a hotbed of tension between China, the economic and military power of Asia and its sea neighbors of the Asia Pacific region. Following military activity by China which claims its authority over the zone, tensions between China and its northern maritime neighbours continue to dominate developments in the SCS but further unresolved disputes add to the dangerous atmosphere because no side is ready to back down and seek genuine reconciliation, while US super power opposes Beijing and supports its neighbors.
Authors: Manish Vaid & Tridivesh Singh Maini
Recent years have witnessed a deepening of ties between India and Vietnam. While robust foundations were laid by India’s first Prime Minister Jawaharlal Nehru and Vietnam’s leader Ho Chi Minh in 1954, successive governments have sought to strengthen bilateral ties with the last decade having seen an acceleration of strategic and defense ties. PM Modi’s upcoming visit is important in this context.
The 2016 elections presents a divergence in US foreign policy between the two major candidates. On one hand is the continuance of the status-quo by Hilary Clinton, who is pushing for a value-based foreign policy, as all presidents have done for decades while Donald Trump is looking for a shift in US foreign policy that hearkens backs to a time when the US was less interventionist and more explicit about its interests rather than claiming to cultivate democratic governments.
An international tribunal, Permanent Court of Arbitration (PCA), has ruled against Chinese claims to rights in the South China Sea, backing a case brought by the Philippine, declaring that there was no evidence that China had historically exercised exclusive control over the waters or resources.