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The exorbitant cost of pharmaceutical drugs in the US has been a contentious issue for years, with the Republican and Democrat parties overtly at odds on the best way to lower drug prices.

Despite the best efforts of lawmakers on both sides of the aisle, prescription drug prices are still on the rise. Figures from the US Department of Health and Human Services show a 15.2 percent increase in the cost of prescription drugs from 2022 to 2023, with an average of US$590 per drug.

In the lead up to the 2024 US general election, the pharmaceutical industry is buttering its bread on both sides with nearly equal contributions to both parties. Citing data from OpenSecrets, KFF Health News reported in late August that drug companies had donated US$4.89 million to Democrats’ coffers and US$4.35 million to Republicans.

About one-third of the total pharma company campaign contributions are attributable to the three top donors: Pfizer (NYSE:PFE), Merck (NYSE:MRK) and Eli Lilly & Co. (NYSE:LLY).

Narrowing down on the presidential candidates, data retrieved from OpenSecrets on October 2 shows that Vice President Kamala Harris has been the bigger beneficiary of donations, receiving US$1.12 million compared to US$204,748 for former President Donald Trump. Both candidates have promised to tackle the high price of prescription drugs.

Surprisingly, the issue only came up once during the September 10 presidential debate between Harris and Trump, when Harris discussed it in response to a question from moderators about her proposed healthcare plan.

How would a potential Harris administration tackle the challenge of lowering prescription drug prices? Would pharmaceutical companies fare better under a second Trump administration?

First, let’s take a look at the healthcare policies and initiatives enacted under Trump’s prior presidency and during the current Biden-Harris administration, and then we’ll examine the current platforms of the two candidates.

The Trump administration’s actions on healthcare and drug prices

Trump’s stance on lowering drug prices has been mostly at odds with the core of his fellow Republicans, which hamstrung his ability to implement his proposed policies.

Did Trump lower drug prices? Trump did have some success in lowering monthly insulin prices to US$35 for Medicare Part D plans, but only under a voluntary model. However, many of his other attempts failed to get off the ground for a variety of reasons.

“His efforts were largely fragmented and faced resistance from both the industry and lawmakers,” political strategist Sergio Jose Gutierrez, told KFF Health News. “The lack of a cohesive strategy and the limited ability to implement significant changes made his approach less effective compared to what a Harris-Walz administration could offer.”

Axios reports that while Trump’s staff did try to work with House Democrats on negotiating drug prices under Medicare, he would later reject the proposal, “embracing GOP arguments it would lead to fewer cures.”

One of Trump’s attempts at lowering drug prices was the Most Favored Nation model, which would have tied the cost of certain drugs under Medicare to their costs in other, comparable countries. However, it encountered roadblocks in the courts due to challenges from pharmaceutical companies and concerns about its impact on hospitals and practices. It was ultimately never implemented, and was rescinded by the Centers for Medicare & Medicaid Services in December 2021 following multiple comment periods.

Another healthcare move under Trump that faced opposition was a plan to import drugs from abroad, which was announced during his term but required Food and Drug Administration approval. Although in 2024 Florida ultimately became the first state to win federal approval to import prescription drugs from Canada, Health Canada has put up resistance, citing the need to safeguard the country’s own limited drug supply.

In another federal court challenge to the Trump administration, several Big Pharma companies — including Merck, Eli Lily and Amgen (NASDAQ:AMGN) — took issue with a US Health and Human Services (HHS) decree that televised drug ads must include the wholesale prices of the drugs advertised. As Reuters reported, the courts sided with the pharmaceutical companies’ argument that the HHS lacked the authority to force them to publicly disclose list prices and that the list prices could discourage people from seeking treatment.

With regards to the Obama-era Affordable Care Act (ACA), former President Donald Trump has been a vocal critic of it in the ongoing healthcare debate. During his time in office, his administration made several attempts to weaken the ACA. For example, according to KFF Health News, “In 2017, (Trump) unsuccessfully attempted to repeal and replace the ACA with various plans that would have increased the number of uninsured Americans to 51 million.”

The Biden-Harris administration’s actions on healthcare and drug prices

Even before Kamala Harris stepped into her role as US Vice President, she has been actively taking part in improving access to affordable healthcare and lower prescription drug prices. As a Senator, she guarded against Republican efforts to dismantle the ACA and co-sponsored the Medicare For All Act, which sought to establish a true single-payer healthcare model.

The Biden-Harris administration reversed the holes Trump tried to poke in the ACA; for example, restoring outreach and enrolment assistance as well as funding. On the flip side, Harris supported and the Biden administration approved Florida’s bid to access lower cost drugs from Canada.

In 2022, VP Harris helped to pass her administration’s Inflation Reduction Act (IRA), which includes an annual US$2,000 cap on total drug spending for Medicare beneficiaries as well as extending the US$35 cap on monthly insulin supplies put forward under Trump to Medicare Part B and all Medicare Part D recipients. On top of that, she cast the tie-breaking vote in the Senate in favor of legislation allowing Medicare to negotiate drug prices on the behalf of beneficiaries.

In August 2024, the government announced it had selected the first 10 drugs set to receive lower prices in 2026 — with discounts up to 79 percent — based on those negotiations. Many are indicated for diabetes and heart conditions, and are made by pharma giants such as Bristol-Myers Squibb (NYSE:BMY), Merck, AstraZeneca (NASDAQ:AZN), Novartis (NYSE:NVS,SWX:NOVN), Amgen and Johnson & Johnson (NYSE:JNJ). More drugs, specifically biologics, will face price cuts in 2028.

In terms of price regulation for drugs in the broader market, President Joe Biden warned drug companies back in December 2023 that if prices on certain drugs developed with federal funds become too high, the government may find it necessary to seize the patents and allow competitors to make them as well. “Drugmakers are almost certain to challenge the plan in court if it is enacted,” reported the Associated Press.

Harris’ 2024 healthcare and drug price platform

Now that Kamala Harris is out on the campaign trail, her healthcare and drug price platform is taking shape.

One of the policy goals of a Harris Administration is expanding the US$2,000 annual cap on prescription drug spending now enjoyed by Medicare recipients to all Americans with insurance. She said as much during her September 10 presidential debate with Trump.

“Since I’ve been vice president, we have capped the cost of prescription medications for seniors at $2,000 a year,” Harris said. “And when I am president, we will do that for all people.”

VP Harris has also vowed to protect the Affordable Care Act. “When I am president, we will do that for all people, understanding that the value I bring to this is that access to health care should be a right and not just a privilege of those who can afford it, and the plan has to be to strengthen the Affordable Care Act, not get rid of it,” she declared during the televised presidential debate.

Under Harris, the Democrats’ healthcare platform also includes ensuring prices for “brand-name and outlier generic drugs” don’t outpace the rate of inflation. The party is also keen on preventing Big Pharma from colluding on prices or manipulating the patent system.

As part of her campaign promises, Harris has also proposed to quicken the pace of lowering prescription drug prices for Medicare recipients. If elected, her administration will focus on speeding up negotiations on cutting costs on “some of the most expensive and most commonly used drugs by nearly 40 (percent) to 80 (percent),” so these discounts would come into play in 2026.

During the October 1 VP debate, Harris’ running mate Minnesota Governor Tim Walz reiterated her support for the ACA and held up the Medicare drug price negotiations under the Inflation Reduction Act as one of her great achievements during office.

‘Kamala Harris negotiated drug prices for the first time with Medicare. We have 10 drugs that will come online, the most common ones that’ll be there,’ he said.

Trump’s running mate, Ohio Senator JD Vance, made some spurious claims about prescription drug prices only being up by 1.5 percent during the whole of Trump’s first term compared to 7 percent during the Biden Administration.

CBS was quick to fact-check his statements, showing that the average annual cost of prescription drugs per person was up by 9 percent from 2017 to 2019 under Trump and up by 11 percent between 2020 and 2022 under Biden. Looking at median cost instead of average, the data shows that costs were down under both administrations.

Trump’s 2024 healthcare and drug price platform

During his presidential debate with VP Kamala Harris, Trump once again voiced his strong opposition to the Affordable Care Act: “Obamacare was lousy health care — always was. It’s not very good today.’

While he admits his administration was unable to repeal the ACA despite dozens of attempts that were blocked by Democrats, he would rather “just let it rot.”

When asked if he had any concrete healthcare plan for the country, he replied his team only has “concepts of a plan,” are considering “different plans” and would reveal more ‘in the not-too-distant future.’

Senator JD Vance didn’t provide much detail about his potential administration’s healthcare plan during his debate performance either, although he did promise ‘we’re going to cover Americans with pre-existing conditions’ when pressed by Walz about his opposition to ACA.

Some on the other side of the aisle have said all the public needs to know about Trump’s healthcare plan can be found in Project 2025, a policy initiative by the Heritage Foundation published in 2022. Since Ronald Reagan’s presidency, every four years the conservative think-tank has published a new batch of policy recommendations for the next Republican president.

Healthcare doesn’t get much space in the 900-plus page document, but what is addressed is the need to make dramatic changes to Medicaid, which serves low-income individuals and families, including repealing the law banning surprise medical billing. Also present are several directives aimed at curbing access to – and repealing FDA approval for – the abortion pill mifepristone, used in about half of US abortions, and the “week-after” contraceptive pill Ella. It also calls for the end of subsidies for stem cell or fetal cell research.

While Trump has disavowed Project 2025 and tried to distance himself from its authors, a large majority of its creators served in the first term of his administration. This includes prominent players such as Housing and Urban Development Secretary Ben Carson, acting Defense Secretary Chris Miller, deputy White House chief of staff Rick Dearborn, former Office of Management and Budget director Russ Vought and acting deputy secretary of the Department of Homeland Security Ken Cuccinelli.

Additionally, both Trump and the Heritage Foundation previously boasted that he enacted 64 percent of their recommendations within the first year of his presidency.

The 2024 GOP Platform document hosted on Trump’s campaign website states, “Healthcare and prescription drug costs are out of control. Republicans will increase Transparency, promote Choice and Competition, and expand access to new Affordable Healthcare and prescription drug options. We will protect Medicare, and ensure Seniors receive the care they need without being burdened by excessive costs.”

While VP Kamala Harris and former President Donald Trump may be on opposite sides of the debate when it comes to the Affordable Care Act, both candidates are supportive of bringing down prescription drug costs.

While KFF Health News notes that prescription drug prices have not been a topic at the forefront of Trump’s campaign, they did report that those close to him say he “would likely retain Medicare price negotiations unless the pharmaceutical industry can come up with something more compelling that they’d put on the table.”

However, Axios reports that a number of high-ranking Republicans are dead set on repealing the Medicare drug price negotiations set out under the IRA.

“Trump has pledged to ‘take on Big Pharma’ through administrative actions like tying what Medicare pays to prices in other developed nations,” said the news agency. “But he could still be open to repealing the IRA drug price measures, and his campaign isn’t elaborating.”

Other efforts a second-term Trump administration might take to reign in healthcare costs include placing caps on out-of-pocket insulin costs, importing US-made drugs that have been sold out of country and increasing competition among generic and biosimilar drugs.

According to KFF Health News, his administration may also seek to lower drug prices “in the Medicare 340B program, which requires drugmakers to provide outpatient drugs at reduced prices to eligible health organizations that serve lower-income and uninsured patients.”

It should be noted that in May 2024 US Court of Appeals for the District of Columbia ruled in favor of pharmaceutical companies, finding that they can limit their discounts under Medicare 340B.

As for the stalled Most Favored Nation model, one that is also supported by candidate Harris, Axios states that Trump has proposed taking executive action to make it a reality.

Investor takeaway

US federal election periods are often fraught with uncertainty for the life science sector. In the past, Republican administrations have been more favorable periods for pharmaceutical companies. However, as with most aspects of American politics and industry, Trump has changed the game. The election of either candidate poses risks for pharma stocks.

But, in terms of threats to drugmaker revenues and innovation, the Democrats’ push to more restrictive drug pricing regulations under Kamala Harris’ plans to expand the IRA present the bigger danger. The fact that nine out of the top ten pharma companies with the highest 2024 campaign contributions have donated more to the Democrats and VP Kamala Harris shows that the pharmaceutical industry is well aware of the risk and are hedging their bets. Since Harris is leading in the polls just a few weeks ahead of the election, currying favor with a future Harris-Walz administration may be in their best interest.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Several critical minerals, in particular lithium and nickel, have been suffering from depressed prices for more than 12 months despite projections of ever-increasing demand, driven by Western governments’ energy transition goals.

Attracting finance into critical minerals projects is one of the key challenges standing in the way of diversifying existing supply chains, which are typically dominated by China, particularly in the midstream (processing and refining) and downstream (component and end-product manufacture) sectors. Like-minded nations are attempting to incentivise supply chain diversification to protect their domestic manufacturing sectors from unfair practices, via both policies aimed at onshoring and tariffs to minimise the impact of dumping heavily subsidised goods on the global market.

Financing critical minerals is challenging as criticality does not make a market, but instead highlights a market failure.

Investing in critical minerals carries additional risk to existing mining risk, often including technological risk as novel extractive and processing techniques are required for non-commoditised critical minerals where there is limited expertise and know-how.

Geopolitical risks, such as price manipulation and export restrictions, lead to market volatility which further deters investors. Jurisdictional risk adds another layer of complexity: critical minerals are typically, but not always, abundant in volatile and conflict-prone regions where corruption is an issue.

While there is also an abundance of some critical minerals in jurisdictions generally considered low risk by miners and investors alike, they all face different issues. For example, permitting a mine in the US is challenging due to community opposition and litigation: according to S&P, it takes an average of nearly 29 years to build a new mine in the US, the second-longest in the world behind only Zambia.

Australia faces high infrastructure and labour costs, factors which drive up capex and opex far above competitor nations across Africa and Latin America. Despite significant exploration, Canada has failed to see more than five new critical minerals mines being brought online in the past 20 years, while Europe faces stalwart green opposition to often politicised projects.

In response to the ongoing global challenges, the US-led Minerals Security Partnership has recently announced the formation of the Finance Network. The network aims to strengthen cooperation and promote information exchange and co-financing among participating institutions to advance diverse, secure, and sustainable supply chains for critical minerals. Participating institutions represent like-minded nations including Australia, Canada, Estonia, Finland, France, Germany, Italy, Japan, Norway, South Korea, Sweden, the United Kingdom, United States. Both the European Bank for Reconstruction and Development and the Africa Finance Corporation are also part of the network.

It is unclear whether the Finance Network will pool funds and mutually select critical minerals projects.

The network does however need the international finance sector’s buy-in.

Specialist mining finance has eroded. UK Mining Specialist Funds demonstrated a decline from about $40 billion in 2010 to about $12 billion in 2022, and Canadian Mining Specialist Funds experienced a drop from circa-$16 billion to c$2.8 billion. This gap has not been plugged by green finance or commercial banks which still view critical minerals as too high-risk, or simply too small to meet investment thresholds, and often both.

Non-commoditised critical minerals also face low rates of return on investments in comparison to tech and other sectors offering much faster and more appealing returns. Price volatility can quickly render projects in Western jurisdictions unfeasible. When that happens some projects fail while others are often bought out by Chinese companies which bring them online once prices rise, and sometimes after efficiencies and new processes are introduced.

This is less likely to continue occurring under various investment and acquisition restrictions in Australia, Canada and the US.

Attracting finance into critical minerals will require the stabilisation of often immature and small markets by creating predictable downstream demand to restore investors’ confidence and boost returns on investment.

If like-minded nations are serious about creating a genuinely diversified supply chain, tax breaks will be required to incentivise institutional and private investors in the meantime to bridge the gap between the lack of commercial viability and the strategic necessity to diversify. Public investments in critical minerals projects will however need to be more targeted and occur in tandem with re-industrialisation. Investing taxpayer dollars in projects that will not feed into downstream industries within like-minded nations are likely to either help to feed China’s manufacturing sector, or create oversupply if sufficient demand doesn’t exist, further lowering prices below commercial viability.

The CMAA Australia is actively bringing its members, governments and the wider finance community to address the challenges of financing critical minerals projects.

Join us at IMARC for an insightful Alternative Pricing Mechanisms session with global critical minerals experts.

Source

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A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea on a stolen bus, police said.

The area is heavily guarded by military forces due to its proximity to the demilitarized zone separating the two Koreas, one of the most heavily fortified borders in the world.

Since moving to South Korea in 2011, the 35-year-old man had been working day-to-day jobs without a stable home.

He told police he missed his family back in North Korea.

“However, he has failed to settle down in the South and has been missing his family in North Korea,” they said.

The man’s case is rare. More than 34,000 North Korean defectors have arrived in South Korea since fighting ended in the Korean War in 1953, according to official data.

In the past decade, roughly 30 have returned home.

Defectors and advocates say the fact that some North Korean defectors try to return home points to how difficult it can be for them to assimilate into South Korean society.

The defector, who has not been named by authorities, is being investigated for possible charges including vehicle theft, driving without a proper license, violation of military base protection, and National Security Law violation, police said.

CCTV footage released by local police showed a man wearing shorts and a hoodie wandering around parked buses. He is seen checking a couple of buses before the lights of one turn on. Shortly after, he drives the bus away.

This is not the first time a North Korean defector has attempted to cross the bridge to return to their home country, according to police.

In recent years, there have been at least three other similar failed attempts, though this is the first one involving a stolen bus.

In September 2021, a woman in her 60s tried to cross the same bridge on foot but was apprehended.

In August 2018, a man in his 30s drove a car across the bridge, passing checkpoints, but was apprehended by forces in the Joint Security Area – the section of the DMZ where North and South Korean forces stand face to face.

The man had previously crossed the border into North Korea via China but was returned by North Korean authorities.

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Two people have died after a typhoon slammed into southwestern Taiwan, deluging the major port city of Kaohsiung with heavy rain and forcing the island to shut down for a second day.

With winds of up to 135 kilometers per hour (85 miles per hour), Typhoon Krathon made landfall along southern Taiwan shortly after noon on Thursday, the equivalent of a Category 1 Atlantic hurricane.

Two people died and 219 injuries have been reported, according to Taiwan’s Central Emergency Operations Center, adding that one person is also missing.

One was a 66-year-old driver hit by falling rocks. The other was a 70-year-old man who fell while trimming a tree during the typhoon, according to the center.

For several hours before making landfall, Krathon moved slowly along the southern coast. In previous days it had hovered between Taiwan and the Philippines as a Category 4 equivalent, with Taiwan President Lai Ching-te warning of “catastrophic damage.”

While the storm has since weakened, it has battered Taiwan with a deluge, forcing the closure of schools and the stock market earlier this week. Hundreds of flights have been suspended, and as of 3 p.m. close to 100,000 households faced power outages, according to the Ministry of Economic Affairs.

A wide swath of 250-500 mm (10-20 inches) with isolated totals over a meter (40 inches) have occurred from Krathon. Additional rainfall of 250 – 500 mm (10-20 inches) are possible from Krathon as it meanders over and near Taiwan.

Schools and offices were once again closed across Taiwan on Thursday. More than 38,000 Taiwanese soldiers are on standby to help in case of emergencies.

Kaohsiung officials warned of the impact of Krathon’s slow pace. “If it passes very slowly, and even stops at Kaohsiung and the Tainan areas, it could lengthen its damage on Kaohsiung,” mayor Chen Chi-mai told reporters on Thursday.

“Please avoid going out,” he added.

University student Liao Shian-rong, 24, told Reuters that he traveled from Taipei to Kaohsiung to chase the storm, calling it a once-in-a-lifetime opportunity.

“We are being hit by the eyewall now and will enter the eye soon,” he said, filming the storm from a hotel lobby.

Footage posted by users on social media platform Threads showed fierce winds had toppled motorcycles and scaffolding structures, ripping off roofs.

The storm, known in the Philippines as Julien, has already lashed that country’s northernmost islands, prompting evacuations and severe flooding in coastal communities.

Nearly 23,000 families in three regions have been affected by the storm, the Philippines’ national disaster agency said Tuesday, according to the Philippine News Agency.

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International concern is growing over the arrest of a prominent Cambodian journalist who helped expose human trafficking fueling online scam centers, with several governments and rights groups calling for his immediate release.

Mech Dara was arrested Monday by Cambodian police and charged with incitement “to provoke serious social chaos” over social media posts he made last month about operations at a rock quarry, according to a statement from the Phnom Penh Municipal Court in the country’s capital. He could face two years in prison for each count.

The award-winning reporter is renowned for his investigations exposing corruption, environmental destruction and human trafficking in a country that heavily restricts press freedom. Cambodian NGO LICADHO said he has consistently pushed for accountability and justice.

In 2023, Mech Dara won the US State Department’s TIP Hero Award for his work uncovering the multi-billion-dollar illegal scam center industry in Cambodia. Images show him standing alongside US Secretary of State Antony Blinken, who presented the award.

In a statement on X, the US Embassy in Cambodia said “we are deeply troubled by the arrest of Mech Dara and call for his release.” The embassy called the reporter a “leading voice against human trafficking and online scams” and an “advocate for freedom of expression-guaranteed in the constitution.”

The USAID Cambodia Counter Trafficking in Persons project said Mech Dara “is the embodiment of the ideals of a free society in Cambodia” and that it “stands publicly in its support for this great person and anti-trafficking hero.”

The European Union and Australia also shared concerns over his arrest. “All Cambodians should be able to exercise their right to freedom of expression without the fear of arrest and prosecution,” the Australian embassy in Cambodia said.

A group of 46 Cambodian media and civil society organizations called for Mech Dara’s immediate release, saying his arrest “is a clear attempt to intimidate and silence him and other journalists.”

Human rights groups have said charges of incitement are commonly used by Cambodian authorities against human rights defenders, activists, journalists and government critics.

Southeast Asia’s scam operations

A major focus of Mech Dara’s work is Cambodia’s role at the center of a scamming epidemic in Southeast Asia that has ensnared hundreds of thousands of victims and raised global security concerns from bodies like the US State Department and the United Nations.

Many people across Asia are duped into seemingly legitimate jobs around the region and are then trafficked into scam compounds where they face serious abuse, including forced labor, arbitrary detention, degrading treatment or torture – often with minimal or no help from local authorities.

Forming the epicenter of this network is Cambodia, Myanmar and Laos, according to the US Institute of Peace and law enforcement bodies. The UN says 100,000 people could be held in compounds across Cambodia with another 120,000 people held in Myanmar in conditions that amount to modern slavery.

From these compounds, the mainly Chinese-run transnational criminal gangs run lucrative online operations ranging from illegal gambling to love scams and crypto fraud. Victims are from around the world, including the US.

In Cambodia, the industry is worth $12.8 billion annually – equivalent to half of the country’s GDP, according to the USIP.

Clampdown on press freedom in Cambodia

Rights groups say Cambodia’s once thriving media sector has been decimated in recent years by former strongman Hun Sen, who ruled the country for more than three decades before handing power to his eldest son Hun Manet in 2022.

Cambodia is ranked 151 out of 180 countries on Reporters Without Borders’ 2024 World Press Freedom Index. Since 2018, independent media outlets have been gutted or forced to close, and censorship, state surveillance, media blackouts and online harassment are rampant.

As a freelancer, Mech Dara worked for several local and international media outlets including Voice of Democracy, which was forced to close last year.

The closure of Cambodia’s last remaining independent media organization was widely condemned as the final blow to press freedom in the country.

“There are so many stories to be told about Cambodia from Cambodia and this extends to the wider region – countries like Myanmar and Vietnam,” he added. “It’s a space that’s getting narrower and narrower and voices are stifled so that the outside world can’t see in.”

In a statement on his arrest, a research director for Amnesty International, Kate Schuetze, said the charges against Mech Dara show “yet again that the Cambodian government will not hesitate to repress journalists.”

“This is the latest step in the new government’s campaign to erase press freedom,” she said.

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China’s Coast Guard claimed it entered waters of the Arctic Ocean for the first time as part of a joint patrol with Russia – in the latest sign of enhanced coordination between the two in a region where Beijing has long wished to expand its footprint.

The statement came a day after the US Coast Guard said it spotted four vessels from the Russian Border Guard and Chinese Coast Guard in the Bering Sea – the “northernmost” location it said it had ever observed the Chinese ships.

The joint patrol “effectively expanded the scope of the coast guard’s ocean-going navigation” and tested their ability “to carry out missions in unfamiliar waters,” the China Coast Guard (CCG) said in a post on its official social media account Wednesday.

The CCG did not release the exact location of the patrol. A banner visible on one of the vessels in accompanying photos read “China Coast Guard devoting its heart to the Party; demonstrating loyalty in the Arctic Ocean,” referring to China’s ruling Communist Party.

The Russian government has not officially acknowledged the patrol, which Chinese state broadcaster CCTV said took place “a few days ago.” Russian state media TASS published a report on the patrol, citing the CCG statement.

The US Coast Guard (USCG) on Monday said it spotted the four vessels from the Russian Border Guard and Chinese Coast Guard “transiting in formation in a northeast direction” in the Bering Sea, some five miles inside Russia’s Exclusive Economic Zone on Saturday.

The Bering Sea stretches between Russia and Alaska and is part of the North Pacific Ocean. It connects to the Arctic Ocean through the Bering Strait, a narrow passage separating Asia and North America.

“This recent activity demonstrates the increased interest in the Arctic by our strategic competitors,” Rear Adm. Megan Dean, commander of the 17th Coast Guard District, said in the USCG statement.

The US has raised concerns about China’s growing role and coordination with Russia in the strategically and environmentally sensitive Arctic region, as the two countries tighten their security and economic ties more broadly.

US and Canadian forces in July intercepted Russian and Chinese bombers flying together near Alaska for the first time, while their two navies operated together in international waters off the Alaskan coast in 2022 and 2023, according to the US military.

Last year, CCG and Russia’s Federal Security Service, which operates its coast guard, agreed to strengthen their “maritime law enforcement cooperation” and China was invited to observe Russia’s “Arctic Patrol-2023” security drills.

Analysts say the new patrol is part of a broader pattern of collaboration – and designed to send a message to Washington, whose maritime activities in the South and East China Seas have longed irked Beijing.

“The significance of the (China) Coast Guard operating farther north than it has ever done implies (China) is extending its Coast Guard into areas the US has traditionally considered its own domain,” said Carl Schuster, a retired US Navy captain and former director of operations at the US Pacific Command’s Joint Intelligence Center.

“China in particular is signaling that the US Coast Guard is not the only one that (can) operate within and near other countries’ Economic Exclusion Zones from their own home waters,” he said.

Arctic ambitions

Beijing has for years sought to increase its footprint in the Arctic, declaring itself a “near Arctic state” and beefing up its icebreaker and research capabilities in the region, where it’s also heavily invested in Russian energy projects.

Russia, as one of eight Arctic states, has historically been wary of being too welcoming to China in a region key to its own security and military power.

But observers say Moscow’s increasing reliance on China – its most important diplomatic and economic partner – in the wake of its war on Ukraine may be changing that calculus.

In its first update to its Arctic strategy in five years, the US Department of Defense in July warned that “growing cooperation” between Russia and China in the region has the “potential to alter the Arctic’s stability and threat picture.”

The recent joint activities, including the July patrol near Alaska, raise questions of whether Russia’s focus on controlling access to the Russian Arctic is “increasingly overshadowed by economic and political considerations,” said Sophie Arts, a fellow with the German Marshall Fund of the US’s Geostrategy North team.

“However, when it comes to growing Russian willingness to cater to Chinese interests, we have to take into account the location in which these activities are taking place,” she added, pointing to how the strategically peripheral patrol location suggests “Russian concerns about controlling access and maintaining its bastion (of) defense remain a priority.”

Andreas Østhagen, a senior researcher at the Fridtjof Nansen Institute in Norway, expressed skepticism that Chinese vessels had operated in the Arctic Ocean proper.

“It still links to the wider Arctic region, even if this is not the Arctic Ocean. Operating off the coast of Alaska or in the Bering Sea at large is part of an ongoing trend where China is asserting its ability to be present in the Arctic, or near the Arctic,” he said.

Economic interests

The China Coast Guard is part of the country’s People’s Armed Police, which is under the command of the Central Military Commission – and it has frequently been at the frontline of China’s efforts to assert its territorial claims in disputed waters in the South China Sea.

The Philippines, for example, has repeatedly accused the CCG of targeting its fishing and other ships with water canons and other tactics, including in what it described as a “brutal assault” with bladed weapons on Filipino forces in June.

In addition to projecting strength, Beijing has a practical interest in expanding its cooperation with Russia and presence in far north waters, where its coast guard could in the future protect its economic interests, experts say.

In its 2018 Arctic policy, Beijing described its vision for a “Polar Silk Road,” linking Asia to Europe by developing shipping routes like the Northern Sea Route across the Arctic and down to China. That route, now largely navigable only in summer and autumn, is expected to become more commercially viable for global shipping as climate change melts sea ice.

Transit along the Northern Sea Route during the summer-autumn navigation season is poised to hit record levels of transit cargo by the season’s end, according to data from the Centre for High North Logistics affiliated with Norway’s Nord University. As of September 30, about 95% of the cargo volume along the route went from Russia to China, it said in a recent report.

The coast guard collaboration “relates to Chinese interests in maritime transportation along at least parts of the Northern Sea Route,” according to Østhagen. “The fact that they have initiated these types of operations is yet another step in the ongoing practical cooperation between the two states in an Arctic or near-Arctic context.”

And when taken alongside other recent joint operations, “this is all about expanding both the Chinese footprint in this part of the Arctic and China’s abilities to operate this far north,” he said.

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Georgian parliamentary speaker Shalva Papuashvili said in a Facebook post on Thursday that he had signed into law a “family values” bill curbing LGBT rights, just weeks before a high-stakes parliamentary election.

Lawmakers from the ruling Georgian Dream party last month approved the bill, which bans gender transitions and could outlaw pride marches and displays of the LGBT rainbow flag. The party says the law is necessary to protect Georgia’s Orthodox Christian church from outsiders.

President Salome Zourabichvili, a critic of the ruling party, had refused to sign the bill into law. Georgian Dream and its allies in parliament had enough seats to overcome her opposition.

Georgian LGBT activists say that the law is an attempt by Georgian Dream to boost support among conservative voters ahead of the Oct. 26 election, in which the party is seeking an unprecedented fourth term in power.

Some Western countries have criticized the bill, casting it as part of what they say is a turn towards authoritarianism and alignment with Russia in country that had mainly leaned towards the West since the breakup of the Soviet Union.

Opinion polls show that Georgian Dream remains the country’s most popular single party against a divided opposition, though it has lost ground since 2020, when it won almost 50% of the vote and a narrow majority in parliament.

Georgian Dream, founded by the country’s richest man, has also enacted a law requiring groups that receive funding from abroad to register as foreign agents, which its opponents say is modelled on legislation used to criminalize dissent in Russia.

Relations with Moscow have overshadowed politics for decades in Georgia, which has been a candidate to join NATO and the EU.

Moscow supports separatists in two ethnic regions who broke away from Tbilisi’s rule in wars in the 1990s, and Russian forces defeated Georgia in a brief war in 2008. Georgian Dream argues that its opponents would bring a return to war, and says it would pursue more stable relations with Russia.

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Dogecoin and Shiba Inu: Target and Prices for Thursday

  • The price of Dogecoin retreated to a new October low on Wednesday at the 0.10223 level
  • On Tuesday, Shiba Inu’s price dropped to the 0.00001560 level

Dogecoin chart analysis

The price of Dogecoin retreated to a new October low on Wednesday at the 0.10223 level. A day earlier, on Tuesday, the price encountered resistance at 0.12000 and the EMA 200 moving average. From there, a bearish consolidation was initiated and a drop below the 0.11000 level. This morning we had a slight recovery to 0.10900, but its weak momentum was enough to continue on the bullish side. We stayed below the daily open level and thus kept Dogecoin in the support zone.

A new impulse below would push the price to a new weekly low and thereby confirm the continuation of the bearish option. Potential lower targets are the 0.10000 and 0.09800 levels. For a bullish option, it is necessary for Dogecoin to return above the 0.11000 level to a new daily high. With that step, the chances of returning to the bullish side increase. Potential higher targets are 0.11200 and 0.11400 levels. We could have a big break in the EMA 200 moving average around 0.11400.

 

Shiba Inu chart analysis

On Tuesday, Shiba Inu’s price dropped to the 0.00001560 level. Since then, the price movement has been in the lateral channel in the 0.00001600-0.00001700 range. Emma 200 has also been on the bearish side since yesterday and is exerting pressure on the price. If we fail to move above, there will be a strengthening of the bearish momentum. Thus, we move to a new weekly low and confirm the further retreat of the Shiba Inu price.

Potential lower targets are the 0.00001500 and 0.00001400 levels. For a bullish option, we need a positive consolidation, a move above the EMA 200 moving average and 0.00001750. That step moves us to the bullish side. After that, we expect the recovery to continue and the Shiba Inu to climb to a new high. Potential higher targets are 0.00001800 and 0.00001850 levels.

 

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ApeCoin and Akita Inu: Daily Overview of Prices and Targets

  • On Wednesday, the price of ApeCoin continued to sink to a new weekly low of 0.655
  • The Akita Inu price hit a new weekly low on Wednesday at 0.00000007029

ApeCoin chart analysis

On Wednesday, the price of ApeCoin continued to sink to a new weekly low of 0.655. We see a slight recovery after that to the 0.680 level. If we don’t get back above 0.700 soon, we will have to continue on the bearish side. Potential lower targets are 0.640 and 0.620 levels.

A bullish consolidation above 0.700 would be a significant move for ApeCoin, potentially leading to a test of the previous high. This time, we anticipate a break above and the formation of a new daily high. As we approach the 0.720 level, we encounter the EMA50 moving average, a key indicator. Its support is crucial for us to continue growing on the bullish side. Potential higher targets are 0.740 and 0.760 levels. The EMA 200 could pose a challenge in the 0.760 zone.

 

Akita Inu chart analysis

The Akita Inu price hit a new weekly low on Wednesday at 0.00000007029. Shortly after that, the price stabilizes, and this morning, we saw a recovery to the 0.00000007300 level. We have solid bullish momentum and expect AkitaInu to continue its bullish growth. A bounce above 0.00000007600 gives us support from the EMA 50 moving average for continued recovery.

Potential higher targets are 0.00000007800 and 0.00000008000 levels. We will have additional resistance in the EMA 200 moving average in the 0.00000008000 zone. On Tuesday, we had an attempt to get back above EMA 200, but the momentum was insufficient for such a scenario. For a bearish option, we need a negative consolidation and pullback to the 0.00000007000 level. This moves us to a new weekly low and confirms bearish pressure. Potential lower targets are 0.00000006800 and 0.0000006600 levels.

 

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SafeMoon and Litecoin: Targets and Prices for Thursday

  • The price of SafeMoon pulled back to a new low at 0.00001266 on Tuesday
  • The price of Litecoin on Tuesday was in retreat to $61.98, forming a new weekly low there

SafeMoon chart analysis

The price of SafeMoon pulled back to a new low at 0.00001266 on Tuesday. The price hold in that zone was short-lived, and we moved back up to the 0.00002500 level very quickly. On Wednesday and Thursday, we saw that the price managed to hold above that level, but it was without momentum to continue to the bullish side. We need new momentum above 0.00003200 and EMA 200 moving average.

With that step, we return above the weekly open level to the positive side. After SafeMoon stabilizes there, it could trigger a bullish consolidation. Potential higher targets are 0.00003500 and 0.00004000 levels. For a bearish option, we need a negative consolidation and a price drop below the support at 0.00002500. This moves us to a new daily low and reinforces bearish momentum. Potential lower targets are the 0.00002000 and 0.00001500 levels.

 

Litecoin chart analysis

The price of Litecoin on Tuesday was in retreat to $61.98, forming a new weekly low there. A strong bearish consolidation and a break below the EMA 200 moving average pulled the price to a new low. On Wednesday and today Litecoin is trying to stabilize in the $62.00-$64.00 range. As of this morning, we are in a bullish consolidation and hope to break out of this range. A push to $65.00 would give us new support at the EMA 50 moving average.

After that, we can expect further bullish momentum and conquest of higher levels. Potential higher targets are $66.00 and $67.00 levels. If we fail to break out of this morning’s movement range, the price will be under pressure to start a retreat. We can consider the new fall to $62.00 as confirmation of a return to the bearish side. Potential lower targets are $61.00 and $60.00 levels.

 

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