International Current Affairs December 2015 (Part 3)

China Conducted Military Drills in South China Sea

• The Chinese Navy has conducted drills that simulate war in ‘certain waters’ in the South.China Sea, employing major destroyers and frigates, carrier-based helicopters and new submarines. It is a j regular annual naval drill aimed at implementing President Xi Jinping’s calls for a military that is capable of fighting and winning wars.
• As per a Navy statement issued on November 19, 2015, the exercise was based out of the Sanya training base of the People’s Liberation Army Navy, focusing on anti-submarine warfare, without detailing the exact time and places for the maneuvers.
• Naval forces from three fleets conducted ‘fierce rivalry’ in several different waters and have achieved projected objectives, adding the drill has vigorously unproved the navy’s anti-submarine combat abilities baised on informationalised systems.

France Launched Fresh Air Raids in Islamic State Stronghold in Syria

• French warplanes carried out fresh raids overnight against the Islamic State stronghold of Raqa province in Northern Syria on November 17, 2015. It destroyed a command centre-and training centre. Ten Rafale and Mirage 2000 fighters carried out the raid and, dropped 16 bombs.
• France has carried out air raids against IS in Syria since September, 2015 but stepped up its raids after attacks of November 13, 2015 in Paris, which are considered worst attack on France after World War II.
• The air raid was conducted in coordination with United States forces against Daesh which is another name for the IS militants group. The United States and France have also decided to increase their exchange of intelligence on potential targets.

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10th G-20 Summit 2015 Held in Turkey

• A communique released on November 16, 2015 i.e., at the end of the two-day G-20 summit at Antalya in Turkey.
• The leaders of G20 noticed that risks and uncertainties in financial markets still remain and observed that geopolitical challenges are increasingly becoming a global problem.
• On Climate Change, it reiterates its commitment to limit global temperature increase to 2° Celsius above current levels,- as mentioned in the Lima Call for Action.
• The communique favours an ambitious, fair and balanced I outcome in the Conference of Parties CoP-21 meet to be held in Paris on the issue.
• The leaders have urged to the World Trade Organisation (WTO) to fully implement the Bali Package that aims at lowering global trade barriers.
• The document also calls for intolerance to corruption and deny safe havens to illegally acquired wealth.
• It notes that the ongoing refugee crisis is a global concern and seeks to encourage global contribution in managing the crisis.
• To tackle the problem of transferring profits to tax havens, the G-20 has developed a package under the ‘Base Erosion and Profit System’ project.
• It urges the automatic exchange of tax-related,information system to come into force by 2018. Seeking early implementation of the International Monetary Fund’s governance reforms, the communique endorses global food security,measures. On the remittance front, it seeks to reduce the charges for people to send money back home j to 5%.
• In a separate statement, the G20 leaders have condemned terrorism and resolved” to choke terror funding, share ) information and take action for better border management.

Philippines Hosted APEC Leaders’ Summit after Two Decades

• For the first time in nearly two decades, it is the Philippines’ turn to host Asia-Pacific Economic Cooperation (APEC) leaders for the region’s most high-level business event from November 18-19, 2015 in its capital city Manila.
• This year, Under the theme of “Building Inclusive Economies, Building a Better World”, Manila is pushing for inclusive growth, highlighting the role of Small and Medium Enterprises (SMEs),-which account for more than 97% of businesses in APEC economies.
• Aims to protect the APEC member countries from financial ‘ crises is one Cebu Action Plan for financial integration.
• The first time the Philippines hosted the summit was in 1996, when then-President Fidel Ramos vowed to help develop an action plan on facilitating free trade in the region.

Pakistan and China Kicked-off their Economic Corridor Project

• Pakistan and China kicked-off their ambitious $ 46 billion economic corridor project on November 12, 2015 after Pakistan handed over 2000 acres of land in restive Balochistan to develop the strategic Gwadar port which will help China in accessing the Arabian Sea.
• The Gwadar port city will get linked to China’s Kashgar city in Xinjiang through a network of roads and oil pipelines. In this regard the two countries have signed a deal to acquire the usage rights to more than 2000 acres of land.
• India has objected to the CPEC as it passes through the Pakistan occupied Kashmir (PoK). China defends the project saying it is a commercial venture aimed at improving livelihoods of local people. The corridor will also act as a trade route for Chinese goods and commodities meant for the Middle-East and Africa.

Read More>> International Current Affairs  (Part 2)

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