Asia-Pacific Archive

The Russian ruble hit an all-time low of 48.7 rubles to the dollar earlier today, a casualty of escalating sanctions from the United States and the European Union in response to the conflict in Ukraine. Beyond the sanctions, Russia’s economic outlook is increasingly grim given the recent drop in global oil prices. At the same time, the Moscow Stock Exchange has announced that currency trades between the ruble and the Chinese yuan reached an all-time high in October, increasing 80 percent over the previous month. The increase in currency trading is a direct result of a currency swap deal Russia […]

Next week, China will host 20 heads of state at the Asia Pacific Economic Cooperation (APEC) leaders’ meeting in Beijing, the biggest international event held in China since President Xi Jinping took power in 2012. In addition to advancing some of APEC’s standard agenda items from previous years, China is expected to use the summit as a platform to push for several regional integration initiatives of its own. While these proposals do have economic benefits for other Asian nations, their progress may be undermined by differences among APEC members, principally the United States and China, over how to promote trade […]

In September, Dutch Prime Minister Mark Rutte offered assistance to Pakistani Prime Minister Muhammad Nawaz Sharif on water management after a dike was breached, forcing over 700,000 Pakistanis to flee their homes. In an email interview, Mariska Heijs, training and research fellow at the Netherlands Institute of International Relations “Clingendael,” discussed the Netherlands’ water management diplomacy. WPR: How prominently does water management diplomacy fit into the Netherlands’ wider foreign aid and development policies, and what expertise does the Netherlands offer? Mariska Heijs: Water is one of the four themes of the Netherlands’ foreign aid and development policy, alongside security and […]

Tensions between Iran and Pakistan rose last month after Sunni militant insurgents that Iran claims are based in Pakistan conducted a series of attacks on Iranian government installations and personnel in the restive, impoverished border province of Sistan-Baluchistan. In response, Tehran threatened cross-border raids in Pakistan if Islamabad failed to act against militants targeting Iran, and then followed through, killing one Pakistani paramilitary officer on Oct. 17. Flare-ups along the Iran-Pakistan border, which spans the ethnic area of Baluchistan, are not new, and when they happen, both Tehran and Islamabad often work quickly to de-escalate. And so Iranian and Pakistani […]

Nepal will host the 18th summit of the South Asian Association for Regional Cooperation (SAARC) later this month. In an email interview, Rajan Bhattarai, member of the Nepalese Constituent Assembly with the Communist Party of Nepal (Unified Marxist Leninist), discussed Nepal’s relations with its neighbors. WPR: How extensive are Nepal’s diplomatic and trade ties with other countries in South Asia, and in what areas? Rajan Bhattarai: Nepal is one of the oldest countries in South Asia and it was the first country in the region to establish diplomatic relations with the United Kingdom in 1934, well before any other countries […]