Tokyo stocks retreat amid geopolitical, economic uncertainties
Tokyo stocks retreated on Wednesday as investors grappled with heightened uncertainties surrounding US monetary policy and geopolitical tensions between Ukraine and Russia.
President Biden’s trip to Poland will come a day after he meets in Brussels with Nato allies, leaders of G7 and the European Union to discuss international efforts to support allies in war-ravaged Ukraine.
Amidst the Russian invasion of Ukraine, President Biden is reaching out to yet another former Soviet satellite. He will visit Poland on Friday to discuss the international response to Russia’s actions that have sparked a “humanitarian and human rights crisis”.
The American President will hold a bilateral meeting with President Andrzej Duda in Warsaw, according to the White House spokesperson, Jen Psaki. Poland has assumed a critical role in the international construct not the least because more than two million out of the total 3.3 million refugees have entered Poland from Ukraine since the start of the Russian invasion on February 24, according to the Polish Border Guard.
President Biden’s trip to Poland will come a day after he meets in Brussels with Nato allies, leaders of G7 and the European Union to discuss international efforts to support allies in war-ravaged Ukraine. The White House has also let it be known that President Biden will host a call on Monday with President Emmanuel Macron of France, Chancellor Olaf Scholz of Germany, Prime Minister Mario Draghi of Italy, and Prime Minister Boris Johnson of the United Kingdom to discuss their coordinated responses to the Russian aggression.
Advertisement
Mr Biden will also join a scheduled European Council summit to discuss Ukraine “including transatlantic efforts to impose economic costs on Russia, provide humanitarian support to those affected by the violence, and address other challenges related to the conflict”, the White House said. Earlier on Sunday, Ms Psaki had said Mr Biden was not planning to visit Ukraine during his European trip this week.
More than 3.3 million people have fled from Ukraine since last month, in what has become Europe’s fastest-growing refugee crisis since World War II. The United Nations said some of the two million people entering Poland have moved on to other countries in the EU but “the majority are believed to be still in Poland”. Support for Ukraine might entail the imposition of “severe and unprecedented costs” on Russia for its invasion, the White House said.
President Biden will discuss how the United States, along with its allies, are responding to the humanitarian and human rights crisis that the Kremlin’s “unjustified and unprovoked” war on Ukraine has created, according to Ms Psaki’s statement. On March 24, President Biden will attend an “extraordinary” Nato summit to examine the ongoing deterrence and defence efforts in response to Russia’s machinations.
While the White House hopes President Biden’s visits to Poland and Brussels will give an impetus to aggressive diplomacy, the fact is that in the days since February 24, when Russia invaded Ukraine, such efforts have done little to either defuse the crisis, or halt Moscow’s advance. Ukraine continues to pay a heavy price in terms of lives lost and property destroyed.
Advertisement