U.S. ramps up airstrikes on Houthi targets amid maritime attacks 🥊

TRADE NEWS

Kazakhstan Redefines Global Trade Routes

In an era marked by global economic shifts, Kazakhstan's strategic location is increasingly pivotal for major world powers. Central Asia, led by Kazakhstan, is a crucial transit hub in today’s global connectivity landscape. The Ukraine conflict and escalating tensions between Russia and the West have amplified the need for alternative trade routes between Asia and Europe, spotlighting this region.

Kazakhstan, Central Asia's largest nation, is reasserting itself as a key player in global commerce, reminiscent of its historical role in the Silk Road. Offering a more direct, cost-effective transit path between Europe and Asia, Kazakhstan has seen a 19% rise in freight volume in 2023, with container transportation up by 15%. This growth is part of a broader trend: Kazakhstan’s transit traffic is expected to jump to 35 million tons by 2029, bolstered by a 3% increase in rail cargo transport to 246 million tons.

China, heavily investing in the Belt and Road Initiative, relies on Kazakhstan for trade with Europe and beyond. China’s use of Kazakhstan's routes has surged, comprising 27% of the country's transport flow, translating to 6.2 million tons. Rail transport between Kazakhstan and China increased by 22% from 2022, indicating a shift from traditional maritime routes to land-based alternatives.

Western countries are also turning to Central Asia, especially Kazakhstan, for Asia-bound trade, given the strained relations with Russia. The Trans-Caspian International Transport Route (TITR) has seen an 88% increase in cargo volume in the first nine months of 2023, reaching 2 million tons. Kazakhstan's TITR cargo doubled to 1.5 million tons, while the Northern Route saw a 40% decline.

Major infrastructure projects in Kazakhstan, like the Moiynty Railway, Bakhty-Ayagoz Railway Line, and Aktau Port Container Hub, aim to boost capacity and efficiency in trade. These investments, crucial for enhancing Central Asia’s transit capabilities, position Kazakhstan as a cornerstone in the evolving landscape of global trade, emphasizing the significance of land-based transit for environmental and diplomatic endeavors.

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U.S. Ramps Up Airstrikes on Houthi Targets in Yemen, Labels Group as Terrorists

In the past week, the United States executed its fourth set of strikes against Houthi positions in Yemen. This action was a response to the Houthis' continuous targeting of commercial ships, as confirmed by a U.S. official to CBS News. The recent strikes were aimed at locations set to initiate attacks.

These strikes were first noted by local sources on social media. According to the U.S. Central Command, the targets included 14 missiles backed by Iran, ready to be launched from Houthi-controlled areas. These missiles posed an imminent threat to merchant vessels and U.S. Navy ships in the region.

A U.S. owned commercial vessel was hit by the Houthis, causing damage but no injuries. This incident is part of a series of Houthi attacks on commercial ships in the Red Sea and Gulf of Aden, which have been ongoing since November 19. The attacks seem to be a direct challenge to the U.S. retaliatory strikes.

Initially, the U.S. and U.K., with support from other nations, targeted nearly 30 sites using over 150 types of munitions. Subsequently, the U.S. conducted two more strikes, one against a Houthi radar site and another destroying four anti-ship ballistic missiles.

Despite these efforts, the Houthis, supported by Iran, vow to continue their assaults. They claim these attacks are a protest against Israel's actions in Gaza, but U.S. officials state that many targeted ships have no ties to Israel.

Pentagon spokesperson Maj. Gen. Patrick Ryder acknowledged that while the strikes have weakened the Houthis' capabilities, they still retain some ability to carry out attacks. The Biden administration is working to prevent the escalation of the Israel-Hamas conflict, but there's been a constant series of attacks by Iranian-backed militias in Iraq and Syria, along with Houthi actions against ships. See clip here

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