标签： Asia

The United States finds itself in a precarious position due to its excessive reliance on China, a dependency that spans both agriculture and manufacturing sectors. American soybean farmers, for instance, have long depended on Chinese purchases, which account for nearly half of U.S. soybean exports. This reliance gives China significant leverage, as demonstrated earlier this year when it curtailed imports in response to trade tensions. However, the issue extends far beyond agriculture. U.S. manufacturers are equally vulnerable, as China dominates the global supply of critical materials and components essential for producing high-tech goods. Rare-earth minerals, which are indispensable for manufacturing cellphones, computer hard drives, and advanced defense systems, are a prime example. China controls 97% of global rare-earth production, and recent export restrictions highlighted the risks of this monopoly. While a temporary truce in the U.S.-China trade war has suspended these restrictions, the broader problem remains unresolved. China’s dominance extends to other critical materials like graphite, gallium, germanium, and tungsten, which are vital for industries ranging from electronics to pharmaceuticals. Even the active ingredients in many common medications, such as ibuprofen and antibiotics, are sourced from China. This overdependence is not accidental but the result of China’s deliberate industrial policies, which include subsidies, tax breaks, and protectionist measures to dominate global supply chains. The U.S. has attempted to counter this through initiatives like the Chips Act and tariffs, but China’s economies of scale pose a formidable challenge. Experts argue that international cooperation among like-minded nations is essential to mitigate this dependency. However, current U.S. trade policies, which impose tariffs on allies, complicate such efforts. While soybean farmers can seek alternative markets, manufacturers face a far more complex dilemma. The path forward requires strategic diversification and coordinated industrial policies to reduce reliance on China and safeguard America’s economic security.

Mena Biofuels, a subsidiary of the Mercantile & Maritime Group, has officially initiated the construction of the UAE’s first commercial Sustainable Aviation Fuel (SAF) production facility in the Fujairah Oil Industry Zone (FOIZ). This groundbreaking project, unveiled at Adipec 2024, aims to convert used cooking oil and waste-based feedstocks into certified SAF, meeting stringent international standards. The facility’s Phase I, with a $200 million investment, will produce 125 million litres annually, accounting for approximately 18% of the UAE’s 2030 SAF target. Phase II, with an additional $100 million investment, will double the capacity to 250 million litres, contributing up to 36% of the nation’s SAF goal and supporting regional exports. The project aligns with the UAE’s Sustainable Aviation Fuel Roadmap 2030 and Net Zero 2050 Agenda, marking a significant milestone in the country’s clean energy transition. Over the past year, Mena Biofuels has completed a comprehensive feasibility study, secured land leases, appointed key project managers, and selected an internationally recognized technology provider. The company has also signed strategic offtake agreements with Emirates Petroleum Company PJSC (Emarat) and plans to finalize additional agreements at the upcoming Dubai Air Show. The first Engineering, Procurement, and Construction (EPC) tender has been launched, covering feedstock storage and distribution facilities, with the second tender for refinery process units set for Q1 2026. This project positions Fujairah as a regional hub for sustainable aviation fuel production, driving economic and environmental resilience while fostering innovation and industrial capacity.

The Rabee Securities Iraq Stock Exchange Index (RSISX Index) experienced a modest 0.6 per cent growth in October 2025, reflecting cautious investor sentiment ahead of Iraq’s parliamentary elections on November 11. Key contributors to this performance included National Bank of Iraq, Baghdad Soft Drinks, Asiacell, and Al-Mansour Hotel. The total trading volume on the Iraq Stock Exchange (ISX) surged by 87 per cent to $40.2 million, driven by cross transactions. Excluding these, trading still grew by 28 per cent to $19.1 million. The banking sector dominated trading activity with a 61.6 per cent share, followed by industry (28.5 per cent), telecom (4.8 per cent), and other sectors. Meanwhile, the over-the-counter (OTC) market saw a 15 per cent decline in trading volume to $177,700. Among the 27 companies that saw share price increases, Modern Construction Materials led with a 61.4 per cent rise, followed by Electronic Industries at 23.9 per cent. Tugba Tan Karakaya, Equity Analyst at Rabee Securities, noted that the rise in trading volume indicates improved market activity and stronger local investor participation. Significant developments in October included the Iraqi Securities Commission’s approval of membership requirements for brokerage firms to trade on the Tabadul platform of the Abu Dhabi Securities Exchange (ADX) and the launch of a €40 million Credit Guarantee Fund by the International Labour Organization (ILO) to support small and medium enterprises (SMEs). According to the World Bank’s MENAAP Economic Update, Iraq’s real GDP is projected to grow by 6.7 per cent in 2026, the highest among Arab countries, driven by energy sector recovery, rising oil exports, and government efforts to diversify income sources.