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<ul class="summary-list"><li>Russia this week launched large-scale naval and air drills with China.</li><li>Military cooperation between the two powers is growing.</li></ul>China and Russia have long railed against what they claim is the malign influence of US power. Now, they're sending a signal to the West that they have the combined military strength to challenge <keyword id="22115694" type="General" weightage="20" keywordseo="US-dominance" source="keywords">US dominance</keyword>. On Tuesday, the Russian military launched large-scale naval and air drills in the <keyword id="21182587" type="General" weightage="20" keywordseo="Sea-of-Japan" source="keywords">Sea of Japan</keyword> alongside China. Taking place in the Pacific and Arctic Oceans, the Mediterranean, Caspian, and Baltic Seas, the "Ocean-24" exercise is massive in scale. According to the Russian Defense Ministry, it involves more than 400 warships, submarines, and support vessels, more than 120 planes and helicopters, and more than 90,000 troops. "This exercise aims to deepen the <keyword id="20275236" type="General" weightage="20" keywordseo="strategic-cooperation" source="keywords">strategic cooperation</keyword> level between the Chinese and Russian militaries and enhance their ability to jointly deal with security threats," China's Defense Ministry said Monday, reported <a target="_blank" class="" href="https://www.themoscowtimes.com/2024/09/09/china-to-hold-military-drills-with-russia-this-month-a86302">the AFP newswire.</a> It's the second time in only three months that the powers have held joint <keyword id="20252562" type="General" weightage="20" keywordseo="military-exercises" source="keywords">military exercises</keyword>, with drills held near the southern Chinese port of Guangdong in July. It's a sign of the growing military alignment of the powers, with the <a target="_blank" class="" href="https://x.com/ChinaPowerCSIS/status/1821607307702108546">China Power Project finding</a> that of the 102 joint exercises held by the militaries since 2003, more than half took place in the last seven years. Graeme Thompson, an analyst with the Eurasia Group, told Business Insider that Russia and China were sending a message. "Russia's naval exercises are intended to signal that Moscow is still a global power that can operate in a range of blue-water theaters around the world," he said. "China's participation is part of a long-running trend of deeper Sino-Russian strategic cooperation and military integration." <h2>An <keyword id="23230129" type="General" weightage="20" keywordseo="anti-US" source="keywords">anti-US</keyword> axis</h2> <div type="image" title="Putin and Xi walking past a row of Chinese soldiers in full dress uniforms holding rifles and standing to attention" height="632" width="1024" msid="113295564" hostid="261"></div>On the eve of Russia's invasion of Ukraine, China's leader Xi Jinping and Russia's President Vladimir Putin declared a "no limits" partnership as part of their shared mission to challenge US global dominance. In the three years since, China has provided Russia with crucial diplomatic and economic support as it faced isolation over the Ukraine invasion, and, according to the US, is providing the Kremlin with increasing support for its weapons industry. In defiance of the West, both nations are flexing their power and showcasing their capacity to project military strength. The Pacific, where the US and its allies, including <a target="_blank" href="https://www.businessinsider.com/us-aircraft-carrier-south-korea-north-korea-russia-putin-kim-2024-6">South Korea and Japan, have a major</a> naval presence, is a potential flash point. The joint exercises are taking place in the Sea of Japan and Sea of Japan and the Sea of Okhotsk. China and Russia both have territorial disputes with Japan, while China is menacing Taiwan with invasion, a move that could trigger conflict with the US. "There's clearly an intention on the part of Beijing and Moscow to show that they can jointly project power in the Indo-Pacific," Thompson said. China's continuing to strengthen its partnership with Russia despite increasingly stark criticism<a target="_blank" class="" href="https://www.businessinsider.com/nato-accused-china-supplying-russia-arms-components-ukraine-war-2024-7"> from the West.</a> The July military exercises came after NATO accused China of being a "decisive enabler" of Russia's war in Ukraine. <h2>Great power competition intensifies</h2> <div type="image" title="A large explosion behind two US military armoured vehicles during a military show in Alaska" height="683" width="1024" msid="113295563" hostid="261"></div>Some experts are warning that joint Russian and Chinese military strength poses a serious challenge to the West. It's a potential threat on a scale the US hasn't faced in decades, with its military focused on fighting militant groups in the face of chaos in the Middle East. "A full-scale China-Russia alliance would present the United States with a threat unlike any it has confronted since the end of the Cold War," analyst Chels Michta wrote in an <a target="_blank" href="https://cepa.org/author/chels-michta/">article for the Center for European Policy Analysis last November.</a> The Congressional Commission on the Strategic Posture of the United<a target="_blank" href="https://www.ida.org/-/media/feature/publications/A/Am/Americas%20Strategic%20Posture/Strategic-Posture-Commission-Report.pdf"> States last October </a>urged the Pentagon to urgently revise its strategy so it could potentially fight both powers at the same time. Some analysts, though, are pointing to tensions between Russia and China that could weaken the alliance. Russia has become a junior partner to Xi's China, and it is increasingly reliant on it to keep its war machine and economy running. And China is likely using the war in Ukraine for its own purposes, to weaken and distract the West as it plans a possible attack on Taiwan, analysts at the <a target="_blank" class="" href="https://www.rusi.org/explore-our-research/publications/commentary/russia-and-china-true-nature-their-cooperation">Royal United Services Institute in the UK wrote in July.</a> But for now, the alliance is growing closer, and Thompson said that the US would be watching the latest military exercises between Russia and China closely. "This is yet another signal that the geopolitical environment continues to deteriorate amid ongoing great power competition," he said. Correction: September 12, 2024 — An earlier version of this story misspelled the surname of an analyst with the Eurasia Group. It's Thompson, not Thomson.

Russia and China's anti-US alliance is growing even more threatening

<ul class="summary-list"><li>Japan Airlines has offered free domestic flights to international tourists visiting Japan.</li><li>The initiative aims to promote travel to lesser-known destinations.</li></ul>Japan Airlines is giving <a target="_blank" class="" href="https://www.businessinsider.com/japan-airlines-free-domestic-flights-us-international-how-to-book-2024-9">free domestic flights</a> to international tourists, making travel to smaller cities and <a target="_blank" class="" href="https://www.businessinsider.com/tips-for-going-to-japan-avoid-mistakes-travel-advice-2024-7">hidden gems</a> far easier.But travel experts say the initiative is likely to backfire, as it could exacerbate the country's overtourism problem.The initiative was announced in September and is available to people traveling to Japan from the <a target="_blank" rel="" class="" href="https://www.businessinsider.com/things-american-wishes-she-knew-before-visiting-japan-mistakes-2024-9">US</a>, Canada, Mexico, Thailand, Australia, New Zealand, Vietnam, the Philippines, Indonesia, India, China, and Taiwan.In order to obtain the free tickets, passengers must book round-trip international flights with Japan Airlines and domestic flights within the same purchase.A spokesperson for Japan Airlines said no end date has been set for the initiative.<h2 id="e067d43f-7a22-42e9-a0bf-597ba6c4f4a3">It could intensify over-tourism</h2>Sara Aiko, founder of the travel agency <a target="_blank" href="http://www.curatedkyoto.com/">Curated Kyoto, </a>told BI that the initiative was likely created to distribute tourism to lesser-known areas to alleviate overtourism in the capital.But in practice, Aiko said, "people will continue to flock to popular destinations like Tokyo, regardless of free tickets, because they are major attractions."<div type="image" title="A woman with a backpack walks through the streets of Tokyo." height="4749" width="6888" msid="114154442" hostid="261" sizebytes="1396134"></div>Earlier this year, the Japanese government estimated that it would surpass <a target="_blank" rel="noopener noreferrer nofollow" class="c-link" href="https://www.japantimes.co.jp/news/2024/04/17/japan/society/record-high-inbound-travelers/">its target of getting 32 million international tourists by 2025</a> after 8.6 million people visited in the first quarter of 2024.Ben Julius is the founder of <a target="_blank" class="" href="https://www.touristjapan.com/about/">Tourist Japan</a>, a travel agency that offers tour packages across Japan to travelers from around the globe.Speaking to BI, Julius said around 90% of his clients visit the same popular locations: Tokyo, Kyoto, Mount Fuji, and Osaka."The majority of visitors are first-time visitors," he said. "And when people visit Japan for the first time, they won't miss the must-see cities."However, overtourism in these areas is majorly disrupting the lives of locals, who have to deal with rising hotel prices and misbehaving tourists."Hotel prices have skyrocketed due to tourism, making it difficult for many locals to stay at places they used to enjoy," Aiko said.Meanwhile, in April, authorities in Yamanashi erected an eight-foot-tall barrier to prevent tourists from taking photos at a <a target="_blank" class="" href="https://www.businessinsider.com/japan-town-building-barrier-stop-tourists-taking-mount-fuji-photos-2024-4">convenience store with views of Mount Fuji</a>.<div type="image" title="A view of Mount Fuji behind a convenience store." height="2828" width="4242" msid="114154441" hostid="261" sizebytes="260872"></div>The move came after complaints about the behavior of international tourists, including littering and bad parking.<a target="_blank" class="" href="https://www.bbc.co.uk/news/articles/ckg2j7dery1o">BBC News</a> reported in August that the barrier had been removed in preparation for a typhoon, but authorities said it would be re-erected if tourists returned in large numbers.Duncan Greenfield-Turk, CEO of the travel agency <a target="_blank" class="" href="https://globaltravelmoments.com/">Global Travel Moments</a>, told BI that Japan has been a top-booked destination for his clients for the past three years.He said he has noticed the "immersive pressure" on the country's public transport system, hotels, and attractions, "particularly in smaller towns not equipped for mass tourism."International visitor spending is expected to reach 6.3 trillion Japanese yen, or around $42 billion, by the end of 2024, according to <a target="_blank" class="" href="https://wttc.org/news-article/japans-travel-and-tourism-sector-to-surpass-previous-records-in-2024">research</a> by the World Travel and Tourism Council.Employment within the travel and tourism industry is also expected to climb. The organization estimates more than 6 million new jobs will be created this year, which they said is a 10% increase from 2023.One reason tourists are spending more money is the <a target="_blank" class="" href="https://www.businessinsider.com/japan-weak-currency-yen-boosts-foreign-tourism-luxury-purchases-travel-2024-4">weak yen</a>. Since the start of 2022, the yen has <a target="_blank" class="" href="https://www.reuters.com/graphics/JAPAN-YEN/EXPLAINER/xmvjnxjmbvr/">lost more than 20% against the dollar,</a> and it reached a <a target="_blank" href="https://www.reuters.com/markets/currencies/dollar-defensive-amid-lower-yields-yen-hovers-near-38-year-trough-2024-07-03/">38-year low</a> of 161.96 to the dollar in July.Greenfield-Turk said Japan Airlines' initiative has the potential to stretch the economic benefits of mass tourism to less-visited areas.However, without proper direction, he said it "could simply encourage more travel to already strained regions, intensifying the overtourism problem.""If tourists continue to gravitate toward popular destinations rather than exploring new ones, the initiative could backfire," he said.There's also the possibility that tourists will opt out of the new initiative.Amy Thomasson, a Japan travel advisor for <a target="_blank" class="" href="https://www.travelmation.net/">Travelmation</a>, told BI that it "doesn't make sense for most travelers" because of the additional costs that could be accumulated.The airline said travelers from the US, Canada, Mexico, and China who plan to stay in their first destination for more than 24 hours will be charged a $100 layover fee.Instead, Thomasson suggests that tourists utilize Japan's high-speed trains.Business Insider's Monica Humphries previously wrote about her experience traveling between Tokyo and Kyoto on the <a target="_blank" class="" href="https://www.businessinsider.com/riding-japans-bullet-trains-between-tokyo-kyoto-2023-7">Hikari Shinkansen</a>, a high-speed bullet train, and noted that it was clean, comfortable, and quick.

Japan is giving free flights to international tourists, but it may backfire

<ul class="summary-list"><li>Japan says a Chinese surveillance plane violated its airspace on Monday.</li><li>It's the first recorded incursion by China into Japan's airspace.</li></ul>Japan on Monday said that a Chinese military plane violated its territorial airspace for the first time.The Japanese government<a target="_blank" class="" href="https://www.asahi.com/ajw/articles/15403036"> said a Chinese Y-9 reconnaissance</a> plane had flown over the Danjo islands, west of the island of Kyushu, for around two minutes.At a press conference, Chief Cabinet Secretary Yoshimasa Hayashi<a target="_blank" class="" href="https://www.reuters.com/world/asia-pacific/chinese-militarys-airspace-violation-is-utterly-unacceptable-japan-says-2024-08-27/"> </a>described the intrusion as "utterly unacceptable" and said it was"not only a serious violation of Japan's sovereignty but also threatens our security.""In recent years, China's military activities in the vicinity of our country have tended to expand and become more and more active," he said.Japan scrambled its jets in response to the intrusion, the <a target="_blank" href="https://uk.news.yahoo.com/japan-scrambles-jets-chinese-aircraft-141556130.html">AFP news wire reported</a><a target="_blank" class="" href="https://uk.news.yahoo.com/japan-scrambles-jets-chinese-aircraft-141556130.html">, </a>though no clashes with Chinese planes were reported.The Japanese foreign ministry said it had summoned China's top diplomat in Tokyo to protest the incident.In recent years, China has become an increasingly assertive military presence in East Asia, and tensions are ratcheting up between Beijing and the US' regional allies, including Japan.Japan scrambled jets in response to Chinese military activity near its airspace 392 times last year,<a target="_blank" class="" href="https://news.usni.org/2024/01/23/japan-scrambled-fighters-555-times-in-the-last-3-months-of-2023-defense-ministry-says"> according to the US Naval Institute,</a> but Monday's incursion is believed to be unprecedented.Among the issues behind the increase in tensions is the dispute over the Senkaku Islands (referred to as Diaoyu Islands in China), which Japan administers but China claims sovereignty over.The Chinese Coast Guard has entered Japanese waters near the islands several times, <a target="_blank" class="" href="https://www.reuters.com/world/asia-pacific/chinese-armed-vessels-patrol-waters-around-disputed-islands-angering-japan-2024-06-07/">including an incident in June,</a> and Japan has increased its military presence in the region.China has also clashed with the Philippines over disputed territory in the South China Sea, India over disputed Himalayan territory, and claims to own the entire independently governed island of Taiwan.Analysts believe that seizing control of Taiwan is <a target="_blank" class="" href="https://www.businessinsider.com/xi-biden-china-going-take-over-taiwan-war-report-apec-2023-12">among Chinese leader Xi Jinping's core goals,</a> but such a move could spark open conflict with the US and its allies, which have offered ambiguous pledges over whether they'd help defend the islands from attack.

Japan says China's increasingly aggressive air force breached its airspace for the first time ever

<ul class="summary-list"><li>China's Xi Jinping negotiated a truce with India's leader, Narendra Modi.</li><li>They agreed to a patrolling arrangement on a disputed Himalayan border.</li></ul>At the <a target="_blank" class="" href="https://www.businessinsider.com/russia-hosts-brics-summit-defy-west-us-economy-china-dollar-2024-10">BRICS summit</a> in Russia this week, China's leader Xi Jinping and India's Prime Minister Narendra Modi shook hands for the first time in five years.The symbolic moment came after a deal was struck to resolve a long-standing feud between the Asian superpowers.In the lead-up to the summit, the countries announced they had reached a patrolling agreement that would reduce tensions along a disputed <a target="_blank" class="" href="https://www.businessinsider.com/india-china-buying-new-light-tanks-for-himalayan-mountain-warfare-2023-6">Himalayan border.</a>The dispute had led to deadly hand-to-hand combat in recent years, taking the lives of 20 Indian troops and at least four Chinese soldiers.After their meeting at the summit hosted by Russia's President Vladimir Putin, Xi and Modi said they would continue discussions on resolving the issue.<h2 id="997cee52-7fd6-4283-bf77-94e40a12b5cc">A setback for the US</h2>Some analysts believe it is a development that's unlikely to be welcomed in Washington, DC.The US has sought to recruit India to help it contain China's growing regional aggression alongside other members of the Quadrilateral Security Dialogue, a security pact that also includes Japan and Australia."So definitely, this is a setback for the United States of America's Indo-Pacific outlook, given the kind of rapprochement we are seeing in India-China relations, and particularly India, China and Russia coming together," Jagannath Panda, head of the Stockholm Center for South Asian and Indo-Pacific Affairs, told Business Insider."Putin, Xi, and Modi meeting definitely signals that there is a kind of understanding under the carpet that has happened, which is quite subtle," he said.It's an assessment echoed by Zhiqun Zhu, professor of political science and international affairs at Bucknell University."The thaw in India-China relations is a boon to both countries. This is particularly significant for China because India may now be less inclined to confront Beijing as part of Quad," Zhu told <a target="_blank" class="" href="https://www.voanews.com/a/india-china-deal-raises-questions-about-us-indo-pacific-strategy-/7838623.html">Voice of America. </a>"In this sense, the effectiveness of Quad would be diluted with a less enthusiastic India."<h2 id="baf534cf-4366-41b8-b9ef-d526ffe91fda">Competition between Asia's rival powers intensifies</h2>Tensions have been building between China and India for years.As the two biggest economies in Asia, the countries have long jostled for regional power, with the dispute over the Himalayan border a flashpoint that led to clashes in 2020, 2021, and 2022.Amid the stand-off, Chinese vessels have reportedly surveilled the Indian Ocean in <a target="_blank" class="" href="https://www.reuters.com/world/india/another-chinese-research-vessel-spotted-off-india-fuelling-unease-2024-03-11/">what experts told Reuters</a> was a likely intelligence-gathering operation, while India has strengthened its security ties with China's chief global rival, the US.In 2017 India played a key role in restarting the Quad, an alliance designed as a bulwark against growing Chinese influence and aggression in the Asia-Pacific region.But India has long sought to balance its relationship with rival superpowers the US and China, and does not at this point want to tie itself too closely to either side, say analysts.In addition to being a member of the Quad Alliance, it is a founding member of the BRICS, an <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-asia-countries-flaunt-russia-putin-diplomacy-relationship-brics-2024-9">association of non-Western economies </a>that China has sought to transform into an alternative global economic power base to the US.<div type="image" title="India-China border" height="683" width="1024" msid="114594056" hostid="261" sizebytes="158650"></div>"This explains why it remains part of multilateral groupings with contradictory goals," said Praveen Donthi, a South Asia analyst with the Eurasia Group in Washington, DC, pointing to both its membership of the US-aligned Quad and China-dominated BRIC group.The truce comes with China on the back foot diplomatically, said Panda, pointing to its damaged relations with Europe and the US after its support f<a target="_blank" class="" href="https://www.businessinsider.com/russia-and-china-anti-us-coalition-is-growing-more-threatening-2024-9">or Russia's invasion of Ukraine.</a>"One could draw a conclusion at this point that probably the Chinese are more interested to rebuild the ties with India than the other way round," said Panda.He said there's also the possibility that Xi has reached an agreement with Modi behind the scenes for India to remain silent if China acts on its longstanding ambition to seize back control of Taiwan.Such a move would likely draw in the US and its other regional allies, who have pledged to help defend<a target="_blank" class="" href="https://www.businessinsider.com/china-taiwan-drone-swarms-uav-us-playing-catch-up-production-2024-10"> Taiwan's independence.</a>"I think China's bigger ambition and target is the Taiwan issue, and therefore they would not really like to continue the kind of tensions they were engaged in with India for the last three to four years," he said."Therefore, they would like to rebuild, and they would like to ensure that India does not react to the Taiwan issue so sensitively."In any case, its a setback in US attempts to include India in a deeper security alliance, he said."For a long time, the US has tried to develop security and defense ties with India," said Panda.For the time being, a truce suits both Russian and Chinese interests, Rahul Bhatia, an analyst at the Eurasia Group, said. But, he added, tensions remain.He said that though both parties have opened discussions about the border dispute, the underlying problem remains unresolved, and future flare-ups are likely.Donthi said the progress between the leaders could also be derailed if tensions between the US and China increase."This comes as a relief after four years of eyeball-to-eyeball troop deployment in the Himalayas. However, it's only the beginning," he said.

Xi undercut the West by negotiating a truce in China's long feud with India

New Delhi: The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group. The fair trade regulator CCI has already approved the merger of Viacom 18 and <keyword id="19976122" type="General" weightage="20" keywordseo="Star-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Star India" meta.hostid="261" meta.entityid="Star India">Star India</keyword> and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it. "The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY 25," informed Reliance Industries on Monday in its quarter earning statement. The merger of Reliance group-controlled media assets - TV18 Broadcast and E18 - with Network18 Media &amp; Investments has already been sanctioned by the NCLT and was made effective on October 3, it said. Earlier on September 27, the government approved the transfer of licenses relating to Non News &amp; Current Affairs TV channels held by media entities of Reliance Industries to Star India. "The Ministry of Information and Broadcasting, Government of India, vide its order dated September 27, has granted its approval for transfer of Licenses relating to Non News &amp; Current Affairs TV channels held by <keyword id="19976121" type="General" weightage="20" keywordseo="Viacom18" source="keywords" meta.keywordsubtype="org" meta.entityname="Viacom18" meta.hostid="261" meta.entityid="Viacom18">Viacom18</keyword> Media Private Limited in favour of Star India," it had said. Viacom18 is the holding company that owns the media and entertainment business of billionaire Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems. Both sides are in the final stages of the merger, making some adjustments in the business as per the Competition Commission of India (CCI) directions. On August 30, the NCLT had approved the scheme of merger of Viacom18 Media and Digital 18 Media, holding media and entertainment assets of Reliance Industries with Star India. The scheme had proposed the transfer and vesting of Media Operations Undertaking from Viacom 18 and Jio Cinema into Digital18, which is a subsidiary of Viacom 18. This would be followed by "demerger, transfer and vesting of V18 Undertaking from Digital 18 into Star India". The merger of the media assets of Reliance Industries and The Walt Disney Co.'s India business will create the country's largest media empire worth over Rs 70,000 crore. Earlier, the CCI had said it has cleared the "proposed combination involving Reliance Industries Ltd, Viacom18 Media Pvt Ltd, Digital18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, subject to the compliance of voluntary modifications". Viacom18 is part of the RIL group, and Star India is wholly owned by The <keyword id="19986269" type="General" weightage="20" keywordseo="Walt-Disney-Company" source="keywords">Walt Disney Company</keyword>. Star Television Productions, a company incorporated in the British Virgin Islands, is owned indirectly by Walt Disney. The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties. As per the deal, Mukesh Ambani-led RIL and its affiliates will hold 63.16 per cent of the combined entity that will house two streaming services and 120 television channels. Walt Disney will hold the remaining 36.84 per cent stake in the combined entity, which will also be India's largest media house. Reliance Industries has also agreed to invest close to Rs 11,500 crore into the joint venture to give it the muscle to fight rivals like Japan's Sony and Netflix. Nita Ambani, wife of billionaire and RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, will head the joint venture, while Uday Shankar will be the vice-chairperson.

Reliance expects to complete merger with Disney's India business in Q3

“Ye le beta, humare khaandani sone ke gehne. Ise girvi rakhva de, shayad kuch paise aa jaye ghar main.” How many times have we seen similar dialogues repeat itself in Bollywood films of the 70s and 80s—abject poverty and a frail-looking old mother pleading to her son to pawn the family’s heirloom gold ornaments to a jeweller, all to get a few bucks? Well, if you’d ask that son in 2024, he’d rather hit the loan button on his <keyword id="105386" type="General" weightage="20" keywordseo="Demat-account" source="Orion">Demat account</keyword> than pawn his mother’s gold jewellery. Given how Indians are rapidly resorting to taking loans against their investments in shares and mutual funds, these might as well be a cherished family heirloom in today’s time. Fair warning though; it's not as if gold and loans against it are going down in India’s lending scene. It's very much the opposite, shining brighter than ever! The secured loan category is having its time in the spotlight, and people are certainly looking beyond land and property to get their hands on some extra monies! But what is funding the steep rise behind these loans? And are they as failsafe and secure as they’re made out to be? We decode for you in this week’s Simply Put. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">The great Indian pawning party</h2>Pawning one’s gold has been, by far, the OG Indian financial move to get a loan. That continues well into 2024, and apparently, more so when India decides to wed and celebrate! Data from <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> suggests that the outstanding amount on gold loans has swelled from Rs 85,009 crore in September 2022 to Rs 1,47,081 crore in September 2024. It looks like Gold took the motto of rise and shine too seriously! Table 1: Growth in gold loans <table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Year </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Amount (In Rs crore) </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2022 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">85,009 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2023 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">89,370 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2023 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">97,426 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2024 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">1,02,562 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2024 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">1,47,081 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: RBI data While the world continues to be riled up in multiple geopolitical crises in 2024, gold has been making merry of these tough times. Thus far this year, <keyword id="3886593" type="General" weightage="20" keywordseo="domestic-gold" source="Orion">domestic gold</keyword> prices have grown by 23%, outperforming benchmark indices like Nifty and Sensex by a mile, which have gone up by 9.85% and 8.86%, respectively. The growth in gold loan disbursal rates month on month this year could also put Nifty and Sensex’s growth to shame. In just September 2024, gold loans grew an astounding 51%, up from 40.9% in August, 30.5% in June, and just 14.8% in March. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Hey, wait up for me, says LAS</h2>In lockstep with the elder, gold loan sibling, advances against shares and bonds have also been inching up since 2022. Data from RBI (Reserve Bank of India) notes that as of September 2022, the outstanding quantum of loans that were taken against shares (LAS) and bonds stood at Rs 7,397.94 crores. This inched up to Rs 7,764 crore in September 2023. Come 2024, and it looked like this was LAS’ time to shine. Loans swiftly skyrocketed, with outstanding loans in this category going up from Rs 8,492 crore in March 2022 to a staggering Rs 9,546 crore at the end of September 2024. Naturally, the smoke of LAS has its fire in the record inflows that Indians are pouring into the stock market and mutual funds month on month. Per AMFI (<keyword id="134904" type="General" weightage="20" keywordseo="Association-of-Mutual-Funds-in-India" source="Orion">Association of Mutual Funds in India</keyword>), the net AUM (assets under management) of India’s mutual fund industry grew to Rs 67,25,614.61 crores in October 2024, up from Rs 67,09,259.24 crores in September 2024. Even the number of retail mutual fund folios, which include equity, hybrid, and solution-oriented mutual funds, burgeoned to 17,23,52,296 in October, as compared to 16,81,61,366 in September. The same goes for stock investments in India, where the number of new demat accounts that are added every month just simply refuses to climb down. As of last month, total demat accounts in the country stood at 17.9 crore, which is more than the entire population of full-fledged nations like Japan (12.45 crore), Russia (14.38 crore), and Bangladesh (17.3 crore). In fact, since February this year, the monthly growth of LAS has been hitting double digits. From 11.3% in March to 21.6% in May to 26.8% in August, growth in LAS has been exceptional, hitting 22.9% in September this year. For context, monthly growth in the LAS segment was at a mere 5% in September 2023. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">What's driving the growth?</h2>It's a win-win for both the bank and the customer. Customers love them because LAS is available at a lower interest rate compared to unsecured personal loans. You can get a loan at an interest rate of anywhere between 9 and 12% by pledging your gold, MF units, or shares. Compare this to over 10-28% rates, which is the range where unsecured personal loans charge interest. Banks love <keyword id="827883" type="General" weightage="100" keywordseo="Secured-Loans" source="Orion">secured loans</keyword> since they are well-secured. In case you default on paying back, the bank can sell off your gold, shares, or mutual fund units to recover the amount. This takes a lot of stress off the banks, which are already dealing with secured loans’ riskier sibling-<keyword id="947940" type="General" weightage="20" keywordseo="unsecured-lending" source="Orion">unsecured lending</keyword>. High NPAs (non-performing assets) and non-payments in the unsecured borrowing space have already put RBI on red alert, which is why the apex bank is tightening the screws on unsecured lending, which was well on its way to becoming a ticking time bomb. As a result, credit growth has moderated to 12.8% YoY in October, as against the 19.3% rise recorded in the year-ago period. Yet it's not like the banks won't feel the heat. Analysts at Nomura note that <keyword id="23954457" type="General" weightage="20" keywordseo="personal-loan-delinquencies" source="Orion">personal loan delinquencies</keyword> in India that have been overdue by over 90 days rose to 5.1% in the last financial year, as opposed to just 3.9% in the year prior. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">How does it work?</h2>Both these loans work on a similar principle: Your <keyword id="857141" type="General" weightage="20" keywordseo="loan-amount" source="Orion">loan amount</keyword> is equal to a certain percentage of the actual market value of your asset. This is known as the LTV (loan-to-value ratio). In the case of gold and debt mutual funds, RBI mandates that this LTV be about 75-80%. So, for every Rs 100 of gold or debt mutual fund unit you pledge, your maximum loan amount cannot exceed Rs 80. If you pledge gold, which has a market value of Rs 10 lakh, you can take a loan of up to Rs 8,00,000. In the case of shares and mutual fund units, this limit is set at 50%. So, your shares worth Rs 5,00,000 can only get you a loan worth Rs 2,50,000. But the bright side? You can continue earning returns on your investments and pay interest only on the amount you use, since this loan works as an overdraft facility. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Super safe, you say?</h2>Interest rates on both of these loans are very much dependent on the market value of the asset, which wildly fluctuates on a day-to-day basis. So, in case the value of your asset falls, you’ll have to keep a margin or more of the same asset in order to continue with the loan and maintain the LTV balance. Failure to do so could mean the bank can even sell off your asset. Says financial planner Nema Chaya Buch. “Yes, LAS offers easy availability of funds since these loans come with a lower interest rate as compared to personal loans. Also, you continue to earn average returns of 10–13% on your equity investments. But the downside is, in case of emergency, those pledged securities cannot be sold. Also, if the equity market goes down, then the bank may ask for additional collateral. Raghvendra Nath, MD, Ladderup Wealth Management notes that taking a LAS is best when the value of your securities has appreciated significantly. “This allows you to maximize the loan amount based on your collateral while also addressing financial needs without having to liquidate your investment portfolio. However, there are notable disadvantages to consider. The market risk is significant; a substantial decline in market value could lead to margin calls, which may incur fees and charges if there are delays or prepayments, ultimately increasing the effective cost of borrowing. Furthermore, failure to make timely payments could result in the loss of your assets.”. Umesh Mohanan, ED &amp; CEO, of Indel Money, cautions that one should have a sufficient quantity of gold to get the loan amount one wants. "According to the current RBI rules, the loan applicant/borrower can draw up to 75% of the total market value of the collateral/gold jewellery. So, always carry a sufficient quantity of gold based on one’s loan requirement. “The most important thing is that the valuation of the gold depends on the purity of the gold. If the borrower pledges gold with higher purity, such as 24 carats or 22 carats, he will get the maximum loan amount," he adds.

Secured Loans 2.0 — why more and more Indians are turning to gold, shares and mutual funds to get loans

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India to introduce UPI payment service in Maldives

Logistic supply agreements with various countries have helped the <keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> to enhance its role as the primary responder to any crisis, especially in the <keyword id="150701" type="PERSON" weightage="20" keywordseo="Indian-Ocean-Region">Indian Ocean Region</keyword> (IOR). The Indian Navy has reciprocal military logistics agreements with US, France, Australia, South Korea and Singapore. Japan is the sixth country that India signed logistics agreements with earlier this month. "India is now moving ahead to sign similar deals with Russia and United Kingdom," said a senior government official. While India has some notable accomplishments as an overseas responder, the assistance to Maldivian President Gayoom as part of Operation Cactus in 1988 was a key event. Thereafter the 'coming of age' event for the Indian Navy was the post-tsunami response in December 2004, which went on well into 2005.The tsunami was catastrophic for many nations in Asia, particularly in South and South East Asia where India was one of the most severely affected nations."Whilst the Indian nation mobilised all resources at its disposal, including the armed forces, to provide succour to its citizens, it did not forget its neighbours," said the official adding that as a responsible neighbour and collaborator, the government of the day rushed help and supplies to many countries in South and South East Asia; principal being Sri Lanka, Maldives and Indonesia. Recognising India's capabilities and resources, the US invited India to be a part of the Tsunami Core Group, the others being Japan and Australia. The group was subsequently expanded to include the UN, EU and Canada. The Tsunami Core Group clearly brought out the capabilities and response mechanisms of nations with similar governance and ability to reach out to others in their hour of need. The original core group would pave the way for the 2007 proposal of Shinzo Abe, then Prime Minister of Japan for initiation of a Quadrilateral Security Dialogue or 'Quad'. "We are currently dissecting QUAD 2.0 and how it is an anti-China group, which may be a disservice to the larger aims of this grouping," the official explained. The Tsunami was a trigger for many reforms and change in operational mindset for India. India and its Navy realised the need for large deck amphibious ships; ships that can carry men and material to places that are in need of them and using helicopters on the ships to quickly transfer them ashore, as also more pronounced outreach. India was one of the first responders in the 2006 Israel-Lebanon conflict and directed the Indian Navy to evacuate Indian nationals. Along with Indians, the Navy evacuated Sri Lankans, Nepalese and Lebanese nationals. In 2015, India launched Operation Raahat and ordered the Indian Navy into war-torn Yemen to evacuate Indian nationals. Along with Indians, the Navy rescued more than 1,000 nationals from over 30 nations, including the US and UK, who directed their citizens to seek help from India. The Navy has therefore been doing the heavy-lifting in the Indian Ocean Region to help countries in the region and beyond. "Operational logistics simply put, is ensuring availability of diesel, spares and lubricants for machinery onboard ships and water and food for the crew, towards undertaking uninterrupted operations," the official pointed out. It makes sense to get these operational logistic requirements from close to an area of operation, rather than from India. This is particularly so if naval ships are undertaking an operation say in the Southern Indian Ocean or South East Asia. The logical step, therefore, is to identify nations and their infrastructure that have the capacity to provide services to India to facilitate continued operations. Similarly, nations that have amicable relations with India and enjoy a high level of inter-operability also prefer to have similar agreements with India to suit their needs in the region. Towards this, India has in recent years, concluded Logistic Supply Agreements with many nations across the Indian Ocean, South China Sea and the Pacific Ocean. "These provide our nation with the ability to expeditiously respond to an emerging situation in remote and inaccessible parts of the world, using the assets of the Indian Armed Forces," the official added. As the world shifts increasingly towards multi-lateralism, India is negotiating various new agreements and pacts with like-minded nations to meet common threats and challenges. "One must also remember that agreements and pacts are not always a zero-sum game," the official said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/its-not-just-india-chinese-intelligence-has-its-eye-on-more-than-2-4-million-individuals-across-the-us-japan-canada-australia-and-the-uk/articleshow/78101034.cms">It's not just India — Chinese intelligence has its eye on more than 2.4 million individuals across the US, Japan, Canada, Australia, and the UK</a> <a href="https://www.businessinsider.in/defense/news/india-china-border-tension-will-be-in-focus-as-the-parliaments-monsoon-session-begins-today/articleshow/78098575.cms">India-China border tension will be in focus as the Parliament's Monsoon session begins today</a> <a href="https://www.businessinsider.in/finance/banks/news/all-eyes-on-parliaments-monsoon-session-the-banking-regulation-amendment-bill-2020-may-not-be-on-the-docket-for-long/articleshow/78101791.cms">All eyes on Parliament's Monsoon session — the Banking Regulation (Amendment) Bill 2020 may not be on the docket for long</a> <a href="https://www.businessinsider.in/stock-market/news/hcl-tech-share-price-jumps-after-mid-quarter-guidance-pulling-tcs-infosys-wipro-and-tech-mahindra-in-the-green-along-with-it/articleshow/78103743.cms">HCL Tech's mid-quarter guidance optimism sparks rally in TCS, Infosys, Wipro, and Tech Mahindra too</a>

India reportedly set to sign Japan-like military pacts with Russia and the UK

<ul class="summary-list"><li>Despite pressure from Western allies, India has refused to isolate Russia over the Ukraine war.</li><li>India's Narendra Modi this week spoke with both Ukraine's and Russia's leaders.</li></ul>When <a target="_blank" class="" href="https://www.businessinsider.com/narendra-modi-won-already-seeing-cost-him-allies-cabinet-funding-2024-6">Narendra Modi</a> visited Ukraine over the weekend, he greeted its president Volodymyr Zelenskyy with an exuberant bear hug.He did the same <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-india-modi-putin-hug-west-isolation-big-blow-2024-7">to Vladimir Putin</a> only weeks ago when he traveled to Moscow to meet the Russian president, much to the anger of Zelenskyy."It is a huge disappointment and a devastating blow to peace efforts to see the leader of the world's largest democracy hug the world's most bloody criminal in Moscow on such a day," Zelenskyy wrote on X at the time.Modi's visits to both Ukraine and Russia characterize his relentless ambiguity on the Ukraine war. He has not condemned nor supported the invasion and is now acting as a peacemaker.The diplomatic highwire act highlights the dilemma Modi faces as he seeks to balance pressure from the US to show more support for Ukraine against <a target="_blank" class="" href="https://www.businessinsider.com/modi-putin-russia-india-relationship-not-worried-us-biden-mad-2024-7">maintaining good ties with Russia.</a><h2 id="5631f287-50fa-42fc-9492-15da89d39bf8">A quick end to the war</h2>In the wake of the Ukraine trip, Modi called Putin. In a post on X, Modi said he reiterated "India's firm commitment to support an early, abiding and peaceful resolution of the conflict."Dinakar Peri, a fellow at the Council for Strategic and Defense Research, told Business Insider that Modi's Ukraine visit was high on symbolism."Although the image of India being a peacemaker is largely rhetoric, the fact of the matter is that India is definitely uniquely positioned in comparison to many other countries due to the kind of bandwidth they have with Russia," said Peri.Rahul Bhatia, an analyst with the Eurasia Group, told BI that while India is reluctant to come down on one side in the Ukraine war, it sees grave dangers in a prolonged conflict in Ukraine."India has sought to take a balanced approach to the war in Ukraine. New Delhi wants to maintain its relationship with Russia regardless of its diplomatic isolation," said Bhatia.<h2 id="bb68f21a-9c73-4a16-a530-190e801237c5">India's ties with the Kremlin are tested</h2>Modi's insistence on not taking a side in <a target="_blank" class="" href="https://www.businessinsider.com/russian-murder-convict-ivan-rossomakhin-kills-again-joins-army-wagner-2024-8">Ukraine</a> is likely to baffle and frustrate many Western observers, but analysts say there are vital economic and strategic goals behind India's position.India has long had <a target="_blank" class="" href="https://www.businessinsider.com/putin-bid-undermine-global-ukraine-support-working-zelenskyy-peace-2024-6">close diplomatic ties with Russia</a>. During the Cold War, it relied on the Kremlin for military support while the US-backed regional rival Pakistan.It now depends on Russia for oil supplies, surpassing <a target="_blank" class="" href="https://www.businessinsider.com/xi-china-putin-russia-frenemies-limits-power-sphere-influence-2024-7">China</a> this week to become Russia's top oil importer."Most of the oil India imports from Russia is actually going to Europe," said Peri. "India is just a conduit — the oil is refined here, and the refined petroleum products are going to Europe as we speak.""In that way, India has played the middle role of stabilizing the larger global economy, which would otherwise have gone for a toss."Peri also pointed out India's dependence on Russia for military equipment, as well as upgrades and spare parts."Around 60% of Indian military equipment is of Russian origin," said Peri. "We have received a lot from other countries in the last few decades, like France, Israel, and increasingly so from the US, but we're still heavily Russian-oriented."But the Ukraine war has shaken up India's relations with the Kremlin.The US is pressuring India to help isolate Putin as punishment for the Ukraine invasion, and India is worried about the Kremlin's increasingly close relationship with China, which has backed Russia amid the Ukraine invasion."India-US ties are not just about Russia or the war in Ukraine," said Peri. "They're also about trade and strategic cooperation, which in some cases is also underpinned by concerns over China or the larger developments in the Indo-Pacific."<h2 id="4c3050d8-adb0-46af-b14f-2689f19f7caa">India sees Russia as a buffer against China's aggression</h2>India has long been concerned about China's increasing aggressiveness in Asia, with a Himalayan border dispute erupting into clashes that left 24 people dead in 2020.Indian and Chinese militaries have been engaged in a standoff on the disputed region of Ladakh since 2020. Although the countries have disengaged on several points, the standoff has continued.Peri said that is India dependent on good ties with the Kremlin to help mitigate that threat: "The standoff created new dynamics for India, and those are all factors which will be in Indian calculations on the stand it takes."Bhatia agreed that India has an eye on China when it engages with Russia. "While New Delhi accepts that Russia and China will gradually grow closer, it believes that maintaining a good relationship with Moscow will ensure that Russia remains neutral when India-China border tensions flare up," he said.It also relies on close ties with the US to help counter China's aggression, reviving the "Quad" dialogue with the US, Australia, and Japan in 2017 to counter China's threat.In the meantime, Modi will likely continue India's tightrope act, maintaining its alliance with the US while seeking not to alienate the Kremlin as it warily watches China's growing might.

India's refusal to take a side in the Ukraine war is frustrating the West. But it has its reasons.

<ul class="summary-list"><li>Xi Jinping is in a struggle with China's military, purging senior commanders to reshape it.</li><li>He wants generals ready and willing to go to war, analysts told Business Insider.</li></ul>Xi Jinping is fighting with China's own military, seeking to purge commanders he sees as unwilling or unable to go to war, military analysts told Business Insider.The Chinese leader is "trying to gain control of the military, and I think that he is thinking that he needs officers who are prepared to actually fight," said Gordon Chang, a senior fellow at the Gatestone Institute and author of "China Is Going to War.""There is a sense that many of China's general officers don't want to fight," according to Chang. "And so we really have a force led by an officer corps that is ambivalent about going to war."Since taking power in 2012, Xi has <a target="_blank" href="https://www.cfr.org/backgrounder/chinas-modernizing-military">overhauled China's military</a> by cutting deep into its personnel, seeking to improve military-civilian cooperation, and reshaping its structure, among other reforms.His efforts reached a crescendo on December 29, 2023, <a target="_blank" href="https://www.reuters.com/world/china/sweeping-chinese-military-purge-exposes-weakness-could-widen-2023-12-30/">when Xi dismissed nine senior officers in one stroke</a>.Since then, <a target="_blank" href="https://asia.nikkei.com/Politics/China-s-military-purge-highlights-persistence-of-corruption">reports</a> and <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-06/us-intelligence-shows-flawed-china-missiles-led-xi-jinping-to-purge-military?leadSource=uverify%20wall">US intelligence</a> <a target="_blank" href="https://edition.cnn.com/2024/01/05/china/china-xi-military-purge-analysis-intl-hnk/index.html">have</a> <a target="_blank" href="https://www.reuters.com/world/china/sweeping-chinese-military-purge-exposes-weakness-could-widen-2023-12-30/">suggested</a> the decisions were to root out corruption — a motive <a target="_blank" href="https://www.bbc.co.uk/news/world-asia-china-41670162">often cited</a> when Chinese officials are abruptly dismissed.However, to Chang, this theory misses the point."Because if that were the case, all of them would be sacked," he said.For him, Xi is likely purging officers who are reluctant to go to war.He cited Chinese Air Force General Liu Yazhou, who <a target="_blank" href="https://www.aljazeera.com/news/2023/10/20/not-all-in-chinas-military-view-taiwan-the-west-as-primary-threat">cautioned against an invasion of Taiwan</a> and received a suspended death sentence in February 2022, <a target="_blank" href="https://www.asianews.it/news-en/General-Liu-Yazhou,-an-admirer-of-Christianity,-sentenced-to-death-58238.html">per the AsiaNews agency</a>.BI also spoke to Joel Wuthnow, a senior research fellow in the Center for the Study of Chinese Military Affairs at the National Defense University in Washington, DC.He argued that rooting out corruption and readying China for war were aligned goals."The removals indicate that Xi should be concerned about the quality of people and equipment he has invested in over the last decade," he said.The nine senior commanders were involved in China's Rocket Force, which would have a crucial role in any military campaign, said Wuthnow."If that equipment malfunctions or can't be relied on, how confident can Xi and his colleagues be that the PLA will prevail?" Wuthnow asked.<h2>Xi is talking himself and China into a conflict</h2>China has been engaged in low-level hostilities with many of its near neighbors.There is <a target="_blank" href="https://www.businessinsider.com/china-acknowledges-deaths-in-indian-border-clash-for-first-time-2021-2?r=US&amp;IR=T">India in the disputed Himalayas</a>, <a target="_blank" href="https://www.businessinsider.com/china-has-shifted-tactics-in-senkaku-islands-2014-10?r=US&amp;IR=T">Japan in the East China Sea</a>, <a target="_blank" href="https://www.businessinsider.com/decaying-ship-stands-as-philippines-defense-against-china-sea-claims-2023-11?r=US&amp;IR=T">the Philippines in the South China Sea</a>, and <a target="_blank" href="https://www.businessinsider.com/xi-biden-china-going-take-over-taiwan-war-report-apec-2023-12?r=US&amp;IR=T">Taiwan, which China claims as its own territory</a>.China's <a target="_blank" href="https://www.businessinsider.com/taiwan-threatens-to-forcefully-drive-away-chinese-fighters-2019-4?r=US&amp;IR=T">incursions</a> in <a target="_blank" href="https://www.businessinsider.com/taiwan-38-chinese-planes-including-nuclear-capable-bombers-in-airspace-2021-10?r=US&amp;IR=T">Taiwan</a>'s <a target="_blank" href="https://www.businessinsider.com/chinese-flights-around-taiwan-effort-to-improve-asw-capability-2021-4?r=US&amp;IR=T">air</a>-<a target="_blank" href="https://www.businessinsider.com/pentagon-operating-cold-war-era-bombers-against-chinas-growing-might-2020-9?r=US&amp;IR=T">defense</a> <a target="_blank" href="https://www.businessinsider.com/china-pressure-on-taiwan-by-increasing-drone-flights-near-islands-2022-9?r=US&amp;IR=T">zone</a> over the last five years have prompted some <a target="_blank" href="https://breakingdefense.com/2022/10/navy-leader-cant-rule-out-chinese-invasion-of-taiwan-even-earlier-than-2027/">US Navy</a> and <a target="_blank" href="https://www.nbcnews.com/politics/national-security/us-air-force-general-predicts-war-china-2025-memo-rcna67967">Air Force</a> <a target="_blank" href="https://media.defense.gov/2023/Apr/24/2003205865/-1/-1/1/07-AMONSON%20&amp;%20EGLI_FEATURE%20IWD.PDF">officials</a> and <a target="_blank" href="https://www.rand.org/pubs/commentary/2016/04/xis-purge-of-the-military-prepares-the-chinese-army.html">military</a> <a target="_blank" href="https://economictimes.indiatimes.com/news/international/world-news/china-appoints-admiral-dong-jun-new-defence-minister-but-opacity-reigns/articleshow/106478692.cms?from=mdr">observers</a> to <a target="_blank" href="https://breakingdefense.com/2023/10/in-chinas-military-purge-final-outcomes-remain-to-be-seen/">predict</a> that China would invade Taiwan in the next few years.However, to Chang, it is impossible to determine where the big flare-up could come from."I don't think that we can say, 'Oh, it's Taiwan or whatever'," he said, despite the island occupying the most attention in Western deabtes about China's military intentions.He noted that Xi has been ramping up warlike rhetoric.In his New Year's address, Xi said China "will surely be reunified, and all Chinese on both sides of the Taiwan Strait should be bound by a common sense of purpose and share in the glory of the rejuvenation of the Chinese nation," according to the <a target="_blank" href="https://www.mfa.gov.cn/eng/zxxx_662805/202312/t20231231_11215608.html#:~:text=Going%20forward%2C%20we%20have%20full,sustained%20the%20momentum%20of%20recovery.">official translation</a> of his speech.Xi drove the message home in a recent face-to-face meeting with Biden, <a target="_blank" href="https://www.nbcnews.com/news/china/xi-warned-biden-summit-beijing-will-reunify-taiwan-china-rcna130087">NBC News reported.</a> The network said Xi told Biden at the APEC summit in San Francisco in November 2023 that China intended to take control of Taiwan.It continued previous interactions on those lines — in November 2021, Xi <a target="_blank" href="https://www.businessinsider.com/xi-warns-biden-us-is-playing-with-fire-taiwan-2021-11?r=US&amp;IR=T">warned</a> Biden that his administration was "playing with fire" and urged Biden not to encourage Taiwanese independence, calling it "dangerous."This is significant, Chang said, because it creates "markers" for Xi's political enemies; with such statements, he could be "talking himself and China into a war," he said.Wuthnow, however, believes Xi is now more cautious following Russia's invasion of Ukraine, having seen it destabilize Vladimir Putin's domestic position and fearing the same could happen to him."Russia has paid an enormous price for its misadventure, and China would as well. Moreover, a failed invasion would be worse for Xi politically than not trying at all," he said.<h2>A Chinese invasion could drag the US into WWIII</h2>All the conditions are in place for a third world war, Chang said: There is widespread conflict — war in Ukraine, insurgencies in Africa, Israel's war on Hamas in Gaza, and military activity in the Red Sea, Persian Gulf, and Indian Ocean."Remember, in the 1930s, there were separate wars that merged into what we now call World War II," he said."The same dynamics exist today, and it's entirely possible, and some people can even argue that it's probable that these will merge into a global conflict," Chang said.A Chinese invasion in East Asia would drag Western countries into something larger, he predicted."I think that Xi Jinping is taking two pages out of Mao's Peasant Revolution playbook.""One of them was to encircle the cities from the countryside. And in this, I think that Xi Jinping views Ukraine, north Africa, Israel as the countryside, and the United States as the city," he said.

Xi Jinping is in a battle with China's own military, and the outcome could drag the US into WWIII

<ul class="summary-list"><li>India's Prime Minister Narendra Modi had his power pegged back in elections this week. </li><li>It was also the 35th anniversary of the Tiananmen Square massacre in China. </li></ul><a target="_blank" href="https://www.businessinsider.com/narendra-modi-won-already-seeing-cost-him-allies-cabinet-funding-2024-6">Narendra Modi's strongman ambitions</a> suffered a setback this week.His Bharatiya Janata Party (BJP) party fell<a target="_blank" href="https://www.businessinsider.com/narendra-modi-win-bjp-india-election-explained-2024-6"> short of the landslide victory </a>many had predicted in the Indian elections.As Modi becomes India's prime minister for a third time, his party will have to enter into a power-sharing agreement with alliance partners.It's a chastening lesson from the Indian electorate for Modi, who, while boosting India's global standing, has been accused of stoking division and weakening India's democracy.On the same day as the Indian election results, <a target="_blank" href="https://www.state.gov/on-the-35th-anniversary-of-tiananmen-square/">the world marked the 35th anniversary </a>of the June 4, 1989 Tiananmen Square massacre, which saw a brutal crackdown on pro-democracy protesters in Beijing.In the decades since, China has slid back into Maoist-style authoritarianism.The events this week highlighted how the competition between India and China is about more than raw power. It's also a competition between two very different political ideologies.<h2 id="6acd91a8-36b3-408f-85c1-259d5944f4e0">India is a flawed but thriving democracy</h2>India is the world's largest democracy. Its first elections were held in 1951-52 after it gained independence from Britain. Free elections have been held in nearly every election cycle since, with a coup in 1975 briefly threatening India's democratic status.It is a rare bright spot in a world where democracy seems to be in retreat. Even in the US, the global champion of democracy, former president Donald Trump is accused of launching an attempt to cling to power illegally after losing the 2020 election.<div type="image" title="Indian voters" height="683" width="1024" msid="110819479" hostid="261" sizebytes="88454"></div>"India isn't a perfect democracy but it is still a role model for developing nations, large or small. And given trends in some Western democracies, I would have to say that there are several things they, too, should be learning from India," said Jabin T. Jacob, an expert on India-China relations at Shiv Nadar University, India.India's democracy, though, faces a stern test under Modi, say critics. Global democracy watchdog <a target="_blank" href="https://www.bbc.co.uk/news/world-asia-india-56393944">Freedom House in 2021</a> downgraded India's democratic status, saying Modi's Hindu nationalist movement had menaced journalists, attacked Muslims, and corroded civil liberties.Jacob said this week's results showed India's democracy remained resilient despite the pressures, while dealing a blow to a leader seen to have overstepped his authority."We have just seen an election in which the Indian electorate decided that their interests are best served by power shared more evenly among a set of political formations that represent diverse interests and aspirations. That is the essence of democracy," he said."The Indian electorate is a very mature one, and it has always intervened in a timely fashion against authoritarian tendencies in its rulers."It's unclear whether Modi will now double down on the nationalism he's championed or seek a more moderate path based on economic reform.<h2 id="c1fe728e-200a-4edb-8d77-94ea6111c952">China's rise comes at a high cost</h2>There are those in India, though, <a target="_blank" href="https://www.ft.com/content/daa87f88-ae0e-11e3-974d-00144feab7de">who have been astonished</a> at the speed and efficiency of China's rise to economic superpower status.China has become the world's second-largest economy, and the lives of millions of ordinary Chinese people have been transformed. Though India has made huge economic progress under Modi, it still lags behind.<div type="image" title="China high speed rail" height="644" width="1024" msid="110819477" hostid="261" sizebytes="117068"></div>"Perhaps the greatest challenge democracy faces in India is that is has failed to deliver the kind of sustained economic development enjoyed by neighbors like China over the last four decades. It has also failed to eliminate extreme poverty," wrote Chatham House <a target="_blank" href="https://www.chathamhouse.org/2022/04/democracy-india">analyst Gareth Price in 2022.</a>But with prosperity in China, has come reduced freedom.Since Tiananmen Square 35 years ago, China's Communist Party has rolled back many of the freedoms its citizens once had.Its current leader, Xi Jinping, has imposed a draconian surveillance state and is considered <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">China's most authoritarian ruler</a> since Mao Tse Tung.Dominic Chiu, an analyst with the Eurasia Group, told Business Insider that China's system had given it an economic advantage — but at a cost."China's one-party rule in the reform era enabled consistent long-term policymaking and economic planning," he said. "This benefited China's economy immensely when the leadership decided to liberalize markets, privatize industries, and open the country up to foreign investment." But, he said, China's repressive one-party system was also deterring investors. And with China's <a target="_blank" href="https://www.businessinsider.com/china-falls-out-of-love-with-natural-diamonds-industry-struggles-2024-6">economy experiencing a steep </a>downturn, this poses a serious problem for its future growth.<h2 id="ebafe111-fa5e-49b8-95d3-f92a674d0da2">China and India vie for dominance</h2>Having achieved economic superpower status, China is now seeking to assert its power more aggressively both regionally and internationally.Tensions with India are increasing. In 2020, clashes along the countries' Himalayan border resulted in the death of 20 Indian soldiers and four Chinese.<div type="image" title="India-China border" height="683" width="1024" msid="110819475" hostid="261" sizebytes="158650"></div><a target="_blank" href="https://uk.news.yahoo.com/modi-mission-assert-indias-global-123002908.html">Analysts told BI</a> that building stronger alliances to counter Chinese aggression will be one of the core aims of Modi's third term.And its commitment to democracy hands it an important advantage, said Jacob."India's democratic status is critical for its international standing. It is an opportunity to develop a model of economic and political development that is both equitable and democratic and thus distinct from the aggressive capitalism of the US or the authoritarianism of the PRC," he said.In 2021, India entered<a target="_blank" href="https://uk.news.yahoo.com/modi-went-straight-reelection-needling-103142130.html"> into the "Quad" partnership </a>with democracies the US, Japan, and Australia, to counter what is perceived as growing Chinese aggression in the Pacific and Indian Ocean.It's a political alliance that would've been more difficult to broker if India was ruled by an authoritarian government,<a target="_blank" href="https://www.brookings.edu/articles/democracy-and-the-us-india-relationship/"> say observers.</a><h2 id="b9b7d5ac-0c25-43f4-adf2-9128d9242020">Competing nationalist visions</h2>Some analysts, though, say that the competition between India and China is not, at its core, about competing political systems but about competing nationalist visions.According to this interpretation, both Xi and Modi are committed to restoring what they see as their nation's rightful place at the top of the global order.But in his quest to strengthen India, critics are warning Modi not to undermine the commitment to democracy and pluralism they believe is at the heart of its post-independence success.Jacob said those in India jealous of China's economic might should look more closely at the reality."Indians who argue against democracy using the China comparison clearly don't understand anything about the reality of China and the Chinese people," he said.

The competition between India and China is about more than raw power

Four years after the unveiling of its consumer electronics brand globally, IT and technology solutions giant <keyword id="20658763" type="General" weightage="20" keywordseo="Acer-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Acer Group" meta.hostid="268" meta.entityid="Acer Group">Acer Group</keyword> has finally announced the entry of <keyword id="20725958" type="General" weightage="20" keywordseo="Acerpure" source="keywords">Acerpure</keyword> in India. "It took time because India is an important market and required special strategy," said Andrew Hou, President of Pan-Asia Pacific Operations at <keyword id="20240684" type="General" weightage="20" keywordseo="Acer" source="keywords">Acer</keyword> Group. He was speaking at the launch of the flagship product of its consumer electronics brand - a 65-inch television that promises an immersive viewing experience - in Bengaluru. Acer India's President and Managing Director <keyword id="21727286" type="General" weightage="20" keywordseo="harish-kohli" source="keywords">Harish Kohli</keyword> said the strategy involved creating a manufacturing ecosystem in India. "Through our collaboration with Indian company <keyword id="20252424" type="General" weightage="20" keywordseo="Dixon-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="Dixon Technologies" meta.hostid="268" meta.entityid="Dixon Technologies">Dixon Technologies</keyword>, we are poised to usher in a wave of locally manufactured products. This partnership embodies our shared vision of fostering economic growth and technological advancement within the nation,"Kohli said. While partnerships with local companies are an India-specific strategy, globally the brand builds on its existing strengths - customer-centric innovations, service access and fostering sustainability, President of Acerpure Inc Stanley Kao said. At the launch, Dixon Technologies Co-founder and Executive Chairman <keyword id="20420375" type="General" weightage="20" keywordseo="sunil-vachani" source="keywords">Sunil Vachani</keyword> and Acer India President and MD Kohli signed the partnership deal. Vachani said Dixon Technologies's goal is to manufacture premium consumer products for both domestic and international markets. Apart from televisions, globally a diverse range of consumer electronics products, including 'air-circulator' fans, water purifiers, hand-held vacuum cleaners, robotic vacuum cleaners, hair dryer and styler, are already available in the market. "The range of products are well received in Japan, Singapore, Thailand and the Philippines," said Hou. While Hou said the likely competitors of Acerpure are Dyson and Korean water purifier brand Coway, globally known for their high-end gadgets, Acerpure India Director Vasudeva G said that in India the brand is building on its existing reputation of being affordable even while offering cutting-edge solutions. "For instance, our 'air circulator' fans are AI enabled and can adjust its speed according to the drop or increase in air temperatures," Vasudeva said. The fan starts from Rs 7,490 in India. "Acerpure represents more than just a product launch, it signifies the dawn of a new era in home appliances and consumer electronics with a key focus on 'Make in India'," said Hou. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a>

Acer launches its consumer electronics brand Acerpure in India

<ul class="summary-list"><li>"Godzilla Minus One" is the latest Japanese movie about the giant monster.</li><li>It's made by Toho, the company that has been making "Godzilla" movies since 1954.</li></ul>The <a target="_blank" href="https://www.insider.com/godzilla-vs-711-6-foot-long-monitor-lizard-raids-minimart-2021-4">monstrous lizard</a> known as Godzilla is getting ready to stomp his way back onto the big screen in Japanese studio Toho's latest movie: "Godzilla Minus One."Toho has been making <a target="_blank" href="https://www.insider.com/most-remade-movies-of-all-time">"Godzilla" movies since 1954</a>, and yes, some of them do look a little kitsch because the titular monster has often been played by a man in a rubber suit.But over the years, the franchise has also been seen as an allegory for <a target="_blank" href="https://www.businessinsider.com/godzilla-wwii-japan-nuclear-bombs-monster-kaiju-fishing-boat-2019-6?r=US&amp;IR=T">the development of nuclear weapons</a>, climate change, and politics.2023's "Godzilla Minus One" is directed by Takashi Yamazaki, who also wrote the movie, and takes place during the late 1940s in postwar Japan.The first trailer for the film sees Godzilla wreak havoc on the country as he crushes civilians, destroys numerous buildings, and attacks military ships before hurling the wreckage out of the ocean.The movie seems to be closer in tone to 2016's <a target="_blank" href="https://www.youtube.com/watch?v=zHc_LdgZ3MQ&amp;ab_channel=MadmanFilms">"Shin Godzilla,"</a> Toho's previous take on the character, which had an intense, horrific streak to it."Godzilla Minus One" opened in Japan last week and has already been a huge hit, grossing over 1 billion yen (around $6.6 million) in just a few days, reports <a target="_blank" href="https://deadline.com/2023/11/five-nights-at-freddys-killers-of-the-flower-moon-godzilla-minus-one-global-international-box-office-1235594101/">Deadline</a>.<h2>'Godzilla Minus One' will be released in US theaters in December</h2><div type="image" title="Godzilla in the ocean chasing a boat in &quot;Godzilla Minus One.&quot;" height="1334" width="1779" msid="105048559" hostid="261" sizebytes="110738"></div>"Godzilla Minus One" roars into theaters across the US from December 1. The film will be available in over 1,000 theaters, reports <a target="_blank" href="https://deadline.com/2023/11/takashi-yamazaki-godzilla-minus-one-tokyo-film-festival-2023-toho-1235589356/">Deadline</a>.Gareth Edwards, the director of 2014's Hollywood adaptation of "Godzilla," recently praised Yamazaki's 2023 movie in an interview with <a target="_blank" href="https://www.cinematoday.jp/news/N0139647">Cinema Today</a>."There were a lot of things that I felt were very new for Godzilla, and I felt jealous the whole time I was watching the movie. This is what a Godzilla movie should be," he said.<h2>'Godzilla Minus One' isn't part of Warner Bros.' MonsterVerse</h2><div type="image" title="godzilla vs kong warner bros" height="960" width="1920" msid="105048560" hostid="261" sizebytes="128840"></div>It's worth clarifying that "Godzilla Minus One" is completely separate from the recent Hollywood movies co-produced by Legendary Entertainment and Warner Bros., and doesn't take place in the shared continuity of the MonsterVerse.Legendary and Warner Bros. have developed the MonsterVerse as part of a deal with Toho that started with 2014's "Godzilla."The universe has since expanded with 2017's "Kong: Skull Island," 2019's "Godzilla: King of the Monsters," and 2021's "Godzilla vs. Kong."The Hollywood franchise is also getting its first TV series in the form of Apple TV+'s upcoming "Monarch: Legacy of Monsters."The series focuses on the titular organization, Monarch, which is dedicated to finding giant monsters like Godzilla. "Monarch: Legacy of Monsters" premieres on Apple TV+ on November 17.

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