Bloomberg Daybreak: Asia Edition
Putin's Asia Tour, China-EU Trade War
Jun 20, 2024
Guests discuss Putin's Asia tour focusing on his North Korea/Vietnam visits, China's response to EV tariffs, and market movements. Topics include arms trade, trade conflicts in the EV sector, Chinese manufacturers global expansion, and economic indicators.
19:10
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Quick takeaways
- Putin's visits to North Korea and Vietnam strengthen military ties, while China and Europe engage in an EV trade war.
- Chinese EV market growth prompts concerns over overcapacity and potential consolidation, urging risk mitigation strategies in investments.
Deep dives
Russia's Military Ties in Asia-Pacific
Russian President Putin's visits to North Korea and Vietnam signal strengthened military ties between Moscow and the respective countries. The mutual defense deal with North Korea escalated arms trade, possibly sending artillery shells to Russia for Ukraine's conflict. Vietnam, while cautious due to potential Western sanctions, focuses on energy cooperation with Russia amidst rising tensions in the South China Sea, seeking strategic support against China's assertiveness.
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