by Martin Armstrong
Armstrong Economics
ASIA:
China represents a strategic threat to Britain as its Navy could reach the North Atlantic via the Arctic by a route opened up by global heating, the head of the Royal Navy has said. Adm Tony Radakin, the first sea lord, said an “increasingly assertive” China had the capability to reach waters north of the UK by using the emerging Northern Sea Route. Experts say it is at least 10-12 sailing days quicker than traditional routes via Singapore and the Suez canal, and its emergence has become a growing source of concern at senior levels of the navy. They fear China will work with the Kremlin to try to exploit it for trade and military purposes.
India’s Tata Consultancy Services TCS said on Wednesday it would buy back shares worth up to USD 2.18 billion), and reported a fall in quarterly profit as it set aside 12.18 billion rupees to cover legal fees related to a US lawsuit.