US global posture review calls for allies’ cooperation to counter N.Korea China threats

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US global posture review calls for allies' cooperation to counter N.Korea China threats
US global posture review calls for allies' cooperation to counter N.Korea China threats

Seoul, Nov 30 | US global posture review calls for allies’ cooperation to counter N.Korea China threats. The US Department of Defence has concluded its review of the global defence posture, calling for cooperation with allies and partner countries to deter North Korean threats and potential Chinese aggression.

After months of analysis, the Pentagon released the results of the 2021 Global Posture Review (GPR) on Monday (US time), which included its decision to permanently station a previously rotational Apache attack helicopter unit and artillery division headquarters in South Korea, reported Yonhap news agency.

The GPR informed Defence Secretary Lloyd Austin’s approval of the permanent stationing of the helicopter squadron and artillery division headquarters in South Korea, announced earlier this year, the department said in a press release. It gave no further details.

It appears to be referring to the 5-17th Heavy Armed Reconnaissance Squadron (HARS) and the Headquarters and Headquarters Battalion, 2nd Infantry Division Artillery (HBB, DIVARTY). The Eighth US Army, based in South Korea, announced the decision on the units in September.

The GPR comes at a time when Washington has been striving to reinforce cooperation with friendly nations against an increasingly assertive China and a nuclear-ambitious North Korea.

“In the Indo-Pacific, the review directs additional cooperation with allies and partners to advance initiatives that contribute to regional stability and deter potential Chinese military aggression and threats from North Korea,” the Pentagon added.

The GPR assessed the US military’s defence posture across major regions outside the US, and developed near-term posture adjustments and analysis on longer-term strategic matters, according to the Pentagon.

A focus is apparently placed on military reinforcements on Guam and in Australia, a key US ally with which the US has recently been strengthening security cooperation through a nuclear-powered submarine deal that also involves Britain.

“These (defence) initiatives include seeking greater regional access for military partnership activities; enhancing infrastructure in Australia and the Pacific Islands; and planning rotational aircraft deployments in Australia, as announced in September,” the Pentagon said.

The Pentagon did not hint at any major realignment of American forces in South Korea and in the adjacent region, though speculation has lingered that the US could seek adjustments to the role of the US Forces Korea (USFK) in order to help counter security challenges from China.

The future role of the USFK has been a key security topic for Seoul and Washington, as the US seeks to capitalise on the 28,500-strong contingent for broader regional defence roles in the name of “strategic flexibility,” while the South hopes the USFK focuses mostly on countering North Korean threats.

The issue has taken on greater geopolitical overtones, as the US has been seeking to mobilise its military resources in the Indo-Pacific to deal with China’s growing assertiveness amid a hardening great-power rivalry on security, technology, trade and other fronts.

US President Joe Biden ordered the GPR in February. Secretary Austin had led the review under a whole-of-government effort and in coordination with allies and partner countries, according to the department.

Source: IANS

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Share Market Weekly Outlook for Next Week

Share Market Weekly Outlook for Next Week

Indian market plummets for the second consecutive week, seems bulls losing their upper hands in the coming days. Index reacted violently grasping Indian as well as global factors throughout the past week.

High oil prices, uncertainty amid Ukraine war, mounting inflation and prospects of aggressive monetary tightening by the U.S. Fed all contributed to poor sentiment. Undoubtedly, the biggest negative sentiment was led by continued inflation all over the world. Sensex sheds 2041.96 points or 3.72 percent while Nifty losses 629.10 points or 3.83 percent in a week. Simultaneously, Bank nifty also lost control over the bears’ dominance. Nonetheless, no sector ended in green while Nifty Energy lost 10.56 percent and remained the prime laggard followed by Nifty PSE, and Nifty Realty losing 5 to 6 percent in a week.

In Nifty stock, BAJAJ AUTO gained 4.07% while TATASTEEL lost 14.54% on a weekly basis. INDIA VIX closes at 23.48 suggesting no sign of relief in volatility. Whenever the market tanks 20% from its peak, it is technically termed as the bear market. Currently the Indian market remains at the edge of 15 percent fall. Technically, on a weekly chart, the index has formed a long bearish candle confirming change in trend from positive to negative side.

Index has also faced resistance around 16300 levels throughout the week. Indicators as RSI still remains in the oversold zone and MACD also indicating no sign of reversal. In the daily chart lower low- lower high formation suggests no major pullback is expected. Coming to the OI monthly Data, on the call side the highest OI witnessed was 16000 followed by 16500 strike price while on the put side, the highest OI was at 15500 followed by 15000 strike price. Overall, Nifty is having support at 15500 mark while on the upside 16100 followed by 16300 may act as an immediate resistance. While Banknifty has support around 32000 while resistance is placed at 34300 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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Share Market Closing Bell: Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower

Share Market Closing Bell: Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower

It was a volatile trading session after a positive opening, Nifty made an intraday high at 16318.75 level but showed downside momentum and tested the 16000 mark and managed to close at 16167.10 level with a loss of 72.95 points.

However, Bank nifty closed the session at 34693.15 level with a gain of 210.50 points. 31 out of Nifty 50 stocks ended in Red which suggest broad based selling. Among sectors, Bank, Commodities indices up by 0.5-0.3 percent each, while IT and Auto indices down by 1 percent each.

Stocks like ONGC, AXISBANK, INDUSINDBK, CIPLA & HDFC ended in green SHREECEM, BAJAJFINSV, LT & BAJFINANCE were the prime laggards.Technically, The Nifty has formed a Hammer Kind of candlestick pattern on a daily chart which indicates value buying from lower levels. Moreover, Nifty has taken support from the lower band of Bollinger on a Four- hourly chart which is a sign of short-term reversal in the counter.

However, the momentum indicators RSI bounced from oversold zone as well as divergence has been seen on an hourly chart which indicates bounce back momentum. The Nifty may find Strong support around 16000 levels, while on the upside 16400 may act as an immediate hurdle for the Nifty crossing above the same can attract fresh buying. On the other hand, Bank nifty has support at 33800 levels while resistance at 35500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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