When Britain returned Hong Kong to China in 1997, after its 99-year lease expired and 156 years of British rule ended, the territory became a “special administrative region” in an agreement commonly referred to as “One Country, Two Systems.”
The Europeans were caught in the middle when the US last year unilaterally withdrew from the Joint Comprehensive Plan of Action (JCPOA), which had been signed in 2015 between the permanent five representatives of the UN Security Council plus Germany and Iran.
Not since the Cuban missile crisis of October 1962, when the US and what was then the Soviet Union came to the brink of Armageddon before thankfully taking a step back, has the world been under so much threat of nuclear aggression.
The oil price has gained around 23 percent since Jan. 1. There were bearish moments between mid-January and the first half of February, which were partly due to heightened fears of what trade wars would do to supply chains and shipping goods.
US Secretary of State Mike Pompeo is on a nine-nation whistlestop tour trying to assure a confused region of sustained US involvement in the wake of President Donald Trump’s troop withdawal now that “Daesh has been defeated.”