“G20 Declaration Shows India’s Great Ability To Be Champion Of Multilateralism”: Amitabh Kant

Mr Kant said the green development pact, which is a key part of the declaration, presents a great opportunity for the Indian automotive and components sector to become the global leader in electric and sustainable mobility.

The G20 Sherpa termed the New Delhi Declaration “very inclusive and very ambitious”.

New Delhi: The New Delhi G20 declaration adopted by leaders has demonstrated India’s great ability to be a champion of multilateralism and bring the world together on global developmental issues and conflicts like the Russia-Ukraine crisis, India’s G20 Sherpa Amitabh Kant said on Wednesday.
The green development pact, a key part of the declaration, offers a great opportunity for the Indian automotive and components sector to become the global leader in electric and sustainable mobility, he said asking the industry to go all-electric while speaking here at the annual convention of Automotive Component Manufacturers Association of India (ACMA).

“The New Delhi leaders’ declaration that has come out is very, very inclusive, very ambitious. It has 83 paras in all. This is the first time that all 83 paras have 100 per cent consensus,” Mr Kant asserted.

In the declaration, there is no ‘reservation, brackets and chair’s summary’, he said adding all the 83 paras, including the eight paras on the Russia-Ukraine crisis, have been done by consensus, he added.

“This has demonstrated India’s great ability, firstly, to be a champion of multilateralism, and its great ability to bring developing countries, all emerging markets, the developed world, all the G7, Russia, China all together and bring consensus on all developmental issues, as well as on issues of global conflict, which is the Russia-Ukraine crisis,” Mr Kant noted.

The declaration has a huge focus on climate action, climate finance, and at the heart of it is a green development pact, which has a major implication for the automobile sector, he added.

“I’ve just negotiated the G20 document and let me tell you, the green development pact has a huge component, the entire negotiation was about cutting down emissions by 43 per cent by 2030…and there will be increasing pressure from all over the world on India and other Middle East countries to cut down emissions,” Mr Kant noted.

Source: https://www.ndtv.com/india-news/g20-declaration-shows-indias-great-ability-to-be-champion-of-multilateralism-amitabh-kant-4385239

G20 Summit: ‘I’m the perfect example of Made in India,’ says World Bank chief Ajay Banga

‘Grew up in India, studied in Indian institutes, haven’t done a single course abroad. 50% of success in life is luck. The rest is your hard work and the ability to capitalise on opportunity,’ says Banga

The World Bank Chief also expressed his dissatisfaction with the Washington-dominated world’

Ajay Banga, the current president of World Bank, told India Today that he’s “the perfect example of Made in India”.

In an interview with India Today News Director, Rahul Kanwal, Banga said that he grew up in India, studied in Indian institutes and hasn’t done a single course abroad.

“Fifty per cent of success in life is luck, the rest is your hard work and the ability to capitalise on opportunity,” he added.

Reforming Multilateral Development Banks (MDBs) has been one of the key agenda points of India’s G20 Presidency and Banga is the man entrusted by US President Joe Biden to adapt the World Bank to be able to deal with China’s growing challenge to the old Washington-led global financial order.

During the conversation, the World Bank Chief also expressed his dissatisfaction with the “Washington-dominated world”.

“Fifty-five per cent of World Bank employees are outside of the US,” Banga said.

Speaking on his mission to reform the World Bank, Banga told India Today, “In the past three months, I’ve met several leaders and finance ministers from scores of countries, which gave me a clear perspective.”

“The roadmap for the evolution of the World Bank is to get a new vision and mission and to make it inclusive,” Banga said.

Clarity of vision, simplicity of speaking, management and measurement of what you want to achieve, and simple scorecards are all important steps that need to be taken for a successful transition, Banga said on the steps needed for the transition, in terms of what still needs to be achieved.

On geopolitics and China, Banga said, “The challenges of the world are very plentiful and the kind of financial energy required is much more than how much just one institution should want to dominate on,” he said.

“Yes, there is geopolitics and I do not deny it, but China is a shareholder and it does not take much money from us any longer,” the World Bank chief said, adding, “There’s a lot for the World Bank to work on (in climate change and healthcare), which can keep us occupied for the years to come.”

“I met US President Joe Biden and he was very clear about the leveragability of the resources of the bank. The US contribution enhances our earning capacity,” Banga said about Washington arranging more funds for the World Bank.

Source: https://www.businesstoday.in/g20-summit/story/g20-summit-im-the-perfect-example-of-made-in-india-says-world-bank-chief-ajay-banga-397789-2023-09-10

G20 Summit: How crypto assets will be regulated? IMF’s Gita Gopinath explains new framework

“There is no talk of banning cryptocurrencies, indicating a global consensus against regulatory measures,” says Gopinath

New Delhi: Prime Minister Narendra Modi with Deputy Managing Director of International Monetary Fund (IMF) Gita Gopinath at the Gala Dinner during the G20 Summit at Bharat Mandapam convention centre, in New Delhi

As India’s G20 presidency focuses on regulating crypto assets, among other key things, the International Monetary Fund (IMF) has taken a pivotal role in shaping the global approach to this issue. In an exclusive interview with Business Today’s Executive Director Rahul Kanwal, the IMF’s Deputy Managing Director Gita Gopinath delved into the details of this initiative.

Gopinath began by highlighting the significance of this collaboration, emphasising that it’s not just about regulatory aspects but also macro-financial consequences. For the first time, the Financial Stability Board and the IMF have joined forces to address regulation of crypto assets comprehensively, recognising the need for a holistic perspective. The primary objective is to identify necessary policy actions that balance regulation and financial stability.

Regarding monetary issues, one key principle is not to legalise the use of crypto assets like Bitcoin as legal tender, as it could compromise monetary sovereignty. In terms of financial stability, the guidelines suggest licensing and registration for crypto asset issuers, with a focus on treating similar activities and risks consistently.

Gopinath stressed that while a common set of principles has been agreed upon, there is still work ahead to develop specific regulations. Importantly, “there is no talk of banning cryptocurrencies, indicating a global consensus against such measures”, she said.

However, Gopinath expressed concern about the varying positions countries have taken regarding crypto asset policies. While acknowledging the need for tailoring regulations to specific circumstances, they emphasized the broad principles that most countries have agreed upon.

“We call for the swift implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the CRS [Common Reporting Standard]. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions,” stated a consensus declaration signed by G20 leaders.

When questioned about the timeline for implementing these principles into policy, Gopinath suggested that the crypto market will become less like the “Wild West” it has been, with improved data and transparency. Differentiation will occur based on whether crypto assets are used for speculative investments or payments.

Gita Gopinath on Indian economy

On the subject of the Indian economy, Gopinath emphasised India’s role as an engine of global growth, projecting over 6% growth for the current fiscal year. Public investment and resilient consumption spending have been driving forces. However, structural reforms are essential to sustain high levels of growth and attract private investment.

India will be the world’s third-largest economy by 2027-28. India will contribute 15% of global growth this year & will be a key driver of economic growth in the years to come, she said.

Gopinath highlighted the need for reforms in labour markets, state-level governance, ease of doing business, education quality, and female labour force participation. “These reforms are crucial to further boost India’s growth trajectory,” she added.

Addressing concerns about India’s economic growth figures, Gopinath stated, “There is no reason to doubt the credibility of the numbers. The IMF relies on various data sources and high-frequency data to make assessments.”

Source: https://www.businesstoday.in/technology/news/story/g20-summit-how-crypto-assets-will-be-regulated-imfs-gita-gopinath-explains-new-framework-397782-2023-09-10

G20 Summit: PM Modi, US, Saudi, EU likely to sign mega rail and shipping projects, claim sources

The main aim of the rail project is to connect the Middle East with India and Europe and bypass China’s wide-ranging strategic infrastructure investments.

G20 Summit

In a major development, India, the United Arab Emirates, Saudi Arabia, the EU, and the United States will sign an agreement for the mega project including rail, electricity and hydrogen pipeline on the sidelines of the G20 Summit.

The main aim of the rail project is to connect the Middle East with India and Europe and bypass China’s wide-ranging strategic infrastructure investments, a US official said on the condition of anonymity as he was not authorised to speak to media.

If the deal is finalised, it would be a significant breakthrough in the relations between New Delhi, the Middle East, the United States and the European Union amid the fact these nations amount to major exports to the developing nations besides China.

Beijing owns a significant chunk of exports to Asian countries as it has one of the most efficient supply routes. Despite the current data claims that Beijing’s exports have dwindled for the fourth month in a row, developing nations are very much dependent on its products.

Earlier on Friday, when Prime Minister Narendra Modi and US President Joe Biden held a bilateral meeting at the latter’s official residence, both leaders vowed to improve the connectivity and infrastructure.

Source: https://www.indiatvnews.com/news/world/g20-summit-us-uae-eu-are-likely-to-sign-mega-rail-and-electricity-project-to-connect-middle-east-with-india-bypass-chinese-connectivity-2023-09-09-891684

Lights On, Security In Place: Delhi Ready To Welcome World At G20 Summit

Tight traffic regulations came into effect in the national capital from 5 am today and will continue till 11.59 pm on Sunday.

Stringent traffic curbs, schools shut, fighter jets for security, murals all across the town – New Delhi has pulled out all the stops to ensure a smooth G20 Summit on September 9 and 10.

Here are 10 points about the big story:

  1. Tight traffic regulations came into effect in the national capital from 5 am today and will continue till 11.59 pm on Sunday. Police have said that ambulances, medicines and those working in other essential services will be allowed to move freely.
  2. Vehicles of locals and tourists will also be permitted to move, but only in the area that they are staying in. Authorities have urged people not to visit India Gate and Kartavya Path for walking, cycling, or picnicking.
  3. Schools, banks, and all government offices will remain shut to ease traffic. Borders to neighboring states will also be sealed.
  4. Over 100,000 police and security personnel are expected to patrol the streets, with fighter jets, advanced AI-based cameras, jamming devices, and sniffer dogs at their disposal.
  5. The Delhi Police will also keep a close watch on developments during the summit from its state-of-the-art control room with the help of a network of 5,000 CCTV cameras installed across the city, officials said.
  6. The Summit will be attended by leaders from the Group of 20 (G20) major economies and will witness discussions on some of the world’s most pressing problems like climate change and poverty.
  7. US President Joe Biden will arrive in New Delhi today and will hold bilateral talks with Prime Minister Narendra Modi ahead of the Summit.
  8. Prominent issues that could feature during the meeting could be Ukraine, critical and emerging technology, and some of the deals that were announced like that of the drones with General Atomics and jet engines with General Electric.

Source: https://www.ndtv.com/india-news/g20-summit-traffic-curbs-fighter-jets-schools-shut-delhi-all-set-for-g20-summit-4369987

Leaving none behind is India’s G20 legacy, PM Modi writes

India’s presidency strives to bridge divides, break barriers, and sow seeds of collaboration in a world where unity prevails over discord, wrote PM Modi.

Prime Minister Narendra Modi(PIB)

Vasudhaiva Kutumbakam — these two words capture a deep philosophy. It means the world is one family. This is an all-embracing outlook that encourages us to progress as one universal family, transcending borders, languages, and ideologies. During India’s G20 presidency, this translated into a call for human-centric progress. As One Earth, we came together to nurture our planet. As One Family, we support each other in the pursuit of growth. And we move together towards a shared future — One Future — which is an undeniable truth in these interconnected times.

The post-pandemic world order is very different from the one before it. There are three important changes, among others. First, there is a growing realisation that a shift away from a GDP-centric view of the world to a human-centric view is needed. Second, the world is recognising the importance of resilience and reliability in global supply chains. Third, there is a collective call for boosting multilateralism through the reform of global institutions. Our G20 presidency has played the role of a catalyst in these shifts.

In December 2022, when we took over the presidency from Indonesia, I wrote that a mindset shift must be catalysed by the G20. This was especially needed in the context of mainstreaming the marginalised aspirations of developing countries, the Global South and Africa.

The Voice of Global South Summit, which witnessed participation from 125 countries, was one of the foremost initiatives under our presidency. It was an important exercise to gather inputs and ideas from the Global South.

Further, our presidency has not only seen the largest ever participation from African countries but also pushed for the inclusion of the African Union as a permanent member of the G20.

An interconnected world means our challenges across domains are interlinked. This is the midway year of the 2030 Agenda, and many are noting with great concern that the progress on the sustainable development goals (SDGs) is off-track. The G20 2023 Action Plan on Accelerating Progress on SDGs will spearhead the future direction of the G20 towards implementing SDGs.

Source: https://www.hindustantimes.com/opinion/pm-narendra-modi-writes-leaving-none-behind-is-india-s-g20-legacy-101694052664148.html

BRICS+6 to control 30% of global GDP, 46% of population

Currently, China controls 70 per cent of the BRICS GDP while India’s share is 13 per cent. This will fall to 62 and 12 per cent, respectively, after the new members join. Brazil’s share will remain unchanged at 7 per cent.

Credit: Reuters Photos

The addition of six new members to the BRICS grouping will see it controlling 46 per cent of the world’s population and 30 per cent of its economic output, according to a research paper.

At the latest BRICS summit in Johannesburg last week, the present members — Brazil, Russia, India, China and South Africa — decided to add Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as new members of the grouping.

The new members will become part of BRICS effective January 1, 2024.

The acronym BRICS was originally coined in 2001 by Goldman Sachs economists led by Jim O’Neill. Later in December 2010, South Africa was added as the fifth member.

Currently, the five-member grouping is home to 40 per cent of the world’s population which controls 26 per cent of the global GDP.

But with the six new members (BRICS+6), their GDP share will jump to 30 per cent and share of population will go up to 46 per cent, Soumya Kanti Ghosh, the Chief Economic Adviser to State Bank of India, said in a note.

However, the biggest impact will be on the share of global oil production that will increase to 40 per cent from the current 18 per cent, while their oil intake share will jump from 27 per cent to 36 per cent, according to the note.

Similarly, their share in global merchandise trade will rise from 20 per cent to 25 per cent, and that of global services trade will increase to 15 per cent from 12, the note said, adding that their share in the global forex reserves will increase by 600 bps to 45 per cent.

Ghosh stated that the new grouping will lead to the rise of a new Global South as BRICS+6 will offer a credible alternative to the hegemony of the Global North when it comes to global affairs, trade, currency and energy security.

Source : https://www.deccanherald.com/world/brics6-to-control-30-of-global-gdp-46-of-population-2665138

Putin denounces sanctions on Russia during his speech for a South Africa economic summit

Russian President Vladimir Putin took multiple shots at the West on the opening day of an economic summit in South Africa, using a prerecorded speech that was aired on giant screens Tuesday to rail at what he called “illegitimate sanctions” on his country and threaten to cut off Ukraine’s grain exports permanently.

Putin, the subject of an International Criminal Court arrest warrant related to the war in Ukraine, did not travel to Johannesburg for the summit of the BRICS group of emerging economies. Instead, he plans to participate remotely in the three-day meeting of the bloc that encompasses Brazil, Russia, India, China and South Africa.

His 17-minute speech recorded in advance centered on the war in Ukraine and Russia’s relationship with the West — even though South African officials had said East-West frictions should not dominate the first in-person BRICS summit since before the COVID-19 pandemic and hoped to guide the conversation away from the deteriorating geopolitical climate.

Sitting at a desk with a white notebook in front of him and a Russian flag behind, Putin said a wartime deal to facilitate Ukrainian grain shipments that is critical for the world’s food supply would not resume until his conditions — the easing of restrictions on Russian food and agricultural products — are met.

The West’s attempts to punish and isolate Russia financially for sending troops into Ukraine are an “illegitimate sanctions practice and illegal freezing of assets of sovereign states, which essentially amounts to them trampling upon all the basic norms and rules of free trade,” the Russian leader asserted.

Moscow pulled out of the Black Sea Grain Initiative in July and stepped up drone and missile attacks on the city of Odesa in southern Ukraine, home to one of the ports the controlled passage agreement covered.

The initiative was credited with helping reduce soaring prices of wheat, vegetable oil and other global food commodities. Putin maintained that even with Russian exports of grain and fertilizer being “deliberately obstructed,” his country has “the capacity to replace Ukraine in grain, both commercially and in free aid to needy countries,” according to an official translation of his speech at the summit.

The United States and other Western nations have not directly targeted Russian agricultural exports, but moves to restrict Russia’s access to international financial payment systems under some sanctions have made it difficult for the country to get food, fertilizer and other products to market.

Source: https://apnews.com/article/china-russia-xi-jinping-putin-brics-da5552203262cb5b71598d3f1de5e55e

Boat between Greece and Malta carrying about 400 ‘people in distress’ is ‘taking on water’

Support service Alarm Phone tweeted its concerns, saying it had received a call from the boat, which departed from Tobruk in Libya. While German NGO Sea-Water International said those on board were in “imminent danger of death”.

The boat said to be carrying people in distress. Pic: Sea-Watch International

A boat carrying about 400 people “in distress” has been spotted adrift between Greece and Malta and is taking on water, support services have said.

German NGO Sea-Watch International tweeted that those on board were in “imminent danger of death” and called on the EU to act.

Alarm Phone also tweeted its concerns, saying it had received a call from the boat, which departed from Tobruk in Libya.

People on board are panicking and several need medical attention, Alarm Phone said, including a child, a pregnant woman and someone with a physical disability

The vessel is said to be out of fuel and its lower deck is full of water.

The captain has left and there is “nobody who can steer the boat”, Alarm Phone said.

It added that it had alerted the authorities.

The boat is now in the Maltese Search and Rescue area, Alarm Phone added.

Source: https://news.sky.com/story/boat-between-greece-and-malta-carrying-about-400-people-in-distress-is-taking-on-water-12853953

Inside Saudi Arabia’s Global Push for Nuclear Power

For years, Saudi Arabia has pressed the United States to help it develop a nuclear energy program, as Saudi leaders look beyond oil to power their country.

But talks about a nuclear partnership have dragged on, largely because the Saudi government refuses to agree to conditions that are intended to prevent it from developing nuclear weapons or helping other nations do so, according to officials with knowledge of the discussions.

Frustrated Saudi officials are now exploring options to work with other countries, including China, Russia or a U.S. ally.

At the same time, they are renewing a push with the United States — their preferred partner — by offering to try to normalize relations with Israel in exchange for U.S. cooperation on building nuclear reactors and other guarantees.

New details of the Saudi efforts provide a window into the recent difficulties and distrust between Washington and Riyadh, and into the foreign policy that Crown Prince Mohammed bin Salman is pursuing: greater independence from the United States as he expands partnerships with other world powers, including China.

Some analysts say that is part of a strategy to pressure Washington to work with the Saudi government on its own terms; others say the prince sees an emerging multipolar world in which the United States plays a less dominant role. Saudi Arabia also agreed in March to a diplomatic rapprochement with Iran after China acted as broker.

The Saudi nuclear efforts raise a specter of proliferation that makes some American officials nervous: Prince Mohammed, the kingdom’s de facto ruler, has said that Saudi Arabia will develop nuclear weapons if Iran does. Any civilian nuclear program has dual-use elements that could aid a country in producing weapons-grade material.

But Prince Mohammed also believes he has the right to exploit the kingdom’s potentially vast uranium deposits for both energy and export. That would create a new revenue source for the kingdom and could give Saudi Arabia greater geopolitical heft. China is already working with Saudi Arabia on uranium prospecting.

Speaking at a conference in Riyadh in January, Prince Abdulaziz bin Salman, the energy minister, said that plans to enrich uranium and produce nuclear fuel — including for export — were even “more important” than proposed reactors in Saudi Arabia. The energy ministry said in a statement that the bidding process for two reactors involves “several technology vendors” and that it expected to receive proposals soon.

The enrichment ambitions make some U.S. officials nervous, even if Saudi Arabia’s turn toward nuclear power would align with the Biden administration’s support of low-carbon energy.

“They have a legitimate case to make about the need to use their uranium to produce energy so that they can sell what’s left of their oil before that runs out or the market collapses or something else happens,” said Hussein Ibish, a scholar at the Arab Gulf States Institute in Washington.

The United States requires countries to meet high standards of nonproliferation before cooperating on a nuclear program, including in some cases banning uranium enrichment and fuel reprocessing in their territory. The details are enshrined in a 123 agreement, which the State Department negotiates with advice from the Energy Department. The pact must be reviewed by Congress, which can block it.

Saudi officials have refused to commit to the restrictions, which would undermine their goal of enriching and selling uranium.

Even if Saudi officials express willingness to sign a 123 agreement, any deal would face significant political obstacles in Washington. President Biden distrusts Prince Mohammed and denounced Saudi Arabia during a blowup over Riyadh’s oil policy in October. And many Democratic lawmakers and some Republican ones say Saudi Arabia has been a destabilizing force.

“Absolutely not,” Representative Ro Khanna, a California Democrat, said in an interview when asked whether he would support an agreement allowing Saudi Arabia to use U.S. nuclear technology. “It’s a nonstarter.”

The White House and State Department declined requests for official interviews, and the department would reply only to written questions. U.S. and Saudi officials who spoke did so on the condition of anonymity.

The State Department said the United States had been negotiating an agreement with Saudi Arabia since 2012 but declined to give details. Trump administration officials and advisers pushed the nuclear effort, often secretly — an initiative to which some senators objected, citing Saudi Arabia’s human rights record and the potential for development of nuclear arms.

The State Department said the Biden administration “is committed to supporting Saudi Arabia’s clean energy transition, including its efforts to develop a peaceful nuclear energy program.” The department added that the United States requires “the highest international standards” on “safety, nonproliferation, export controls and physical security.”

The Saudi energy ministry said the kingdom’s “peaceful nuclear power program” would be based on “transparency and international best practices,” and that it would work closely with the International Atomic Energy Agency and countries that have signed general agreements with the Saudis to help with nuclear energy. Those include China, Russia, South Korea and France.

Some Saudi officials believe the United States has been an unreliable partner that has swung wildly on policy and has been unable to deliver on security and economic cooperation.

A Blast of Diplomacy

American and Saudi champions of nuclear power in the kingdom saw an opening when President Donald J. Trump sought to build ties with Prince Mohammed.

The efforts on energy began early in the administration, as a consortium of American companies, including Westinghouse, expressed interest in Saudi Arabia’s proposed nuclear reactor project. Michael T. Flynn, Mr. Trump’s first national security adviser, and Thomas J. Barrack Jr., an investor who was the chairman of Mr. Trump’s inaugural committee, pushed for U.S. involvement.

Those initial efforts stalled after the two men became embroiled in separate legal issues over other dealings with foreign officials.

Democratic lawmakers opened an inquiry into the nuclear efforts and issued a report saying White House lawyers had questioned the legality and ethics of the proposed ventures. That did not deter the administration. Rick Perry, the energy secretary, took the lead.

Mr. Perry issued seven authorizations to American companies allowing them to transfer unclassified U.S. nuclear technology — but not physical equipment — to Saudi Arabia.

However, American officials said they failed to produce any 123 agreement that they thought would be approved by Congress.

In September 2020, Mr. Trump held a White House ceremony in which the United Arab Emirates and Bahrain agreed to normalize relations with Israel in a pact called the Abraham Accords. Saudi leaders told the White House that nuclear cooperation was a condition for their country joining, a former senior administration official said. But Mr. Trump left office before an agreement could be reached.

“Nuclear to me is where you want to be going,” Mr. Perry said in an interview at an investment conference in Riyadh. But in baseball terms, he said, talks under Mr. Trump only ever got to “the second” inning.

He paused, then added, “The top of the second.”

Flirting With China

As the Biden administration insists on certain safeguards, Saudi officials have continued looking at non-American companies.

An attractive one is the Korea Electric Power Corporation, or Kepco, based in South Korea. A company spokesperson said Kepco is talking to U.S. officials about the nuclear program and is interested in working with Saudi Arabia but declined to go into details, citing a confidentiality agreement with the Saudis.

But the South Korean government, a U.S. ally, would likely bar the company from the project if Saudi Arabia does not enter into a strict nonproliferation agreement with a government or the International Atomic Energy Agency. The company said it hoped “the conditions for participation in the project will be created.” And a complicating factor is a legal dispute between Kepco and Westinghouse over reactor designs.

French bidders would be in a similar situation. And working with Moscow would be unappealing for Riyadh because of American- and European-led sanctions imposed on Russia.

Although Saudi officials think of American nuclear technology as the best option, they are open to considering Chinese technology. Saudi Arabia and China have forged closer ties recently, including over oil and military cooperation..

China has built up Saudi Arabia’s ballistic missile arsenal over decades and sends military officers to work on the program, current and former U.S. officials said. And with Chinese technology, Saudi Arabia is now able to build its own missiles, they said. New satellite imagery showing bulldozer activity at previous missile sites indicates Saudi Arabia could be housing a new type of missile underground, said Jeffrey Lewis, a nuclear nonproliferation expert at the Middlebury Institute of International Studies.

The missile program is separate from any nuclear energy effort, but it shows how closely China works with Saudi Arabia on highly technical and sensitive projects.

China’s leader, Xi Jinping, visited Saudi Arabia in December after nearly three years of pandemic isolation. He and King Salman issued a statement in which they promised “to cooperate in the peaceful uses of nuclear energy.”

While visiting Saudi Arabia in 2016, Mr. Xi oversaw the signing of a memorandum of understanding to help build a reactor.

Source: https://dnyuz.com/2023/04/01/inside-saudi-arabias-global-push-for-nuclear-power/

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