Israel and Hamas – Oct. 10

The war between Israel and Hamas is having a global impact economically and politically. Currently, the news cycle in Asia is primarily focusing on responses from different countries and updates on the war. While some countries have decided to remain neutral on the war, others are taking sides between Israel and Palestine.

Key trends observed:

• Several governments in APAC have taken a neutral stance. Japan, Singapore and Vietnam have condemned the attacks and are requesting a ceasefire. Interestingly, even the Muslim majority of countries have taken a neutral stance. Bangladesh, Indonesia, and Malaysia, too, have condemned the attacks and raised concerns about people being harmed in the absence of a ceasefire.

• There are Asian countries taking sides in the war. For instance, Australian Prime Minister Anthony Albanese has condemned the attacks on Israel by Hamas and asserted Israel’s right to defend itself. However, this has resulted in a pro-Palestinian rally outside the Sydney Opera House. Even Prime Minister Narendra Modi has said that India stands firmly with Israel. On the other hand, North Korean state media and Pakistan blamed Israel for the war.

• Economic relations are impacting political stances. While Korean President Yoon Suk Yeol strongly condemned the attacks, the country has taken a cautious stance. This is due to Korea’s economic partnership with Saudi Arabia, whose crown prince has declared Saudi Arabia’s support for Palestine. It needs to be highlighted that the surprise attack by Hamas has raised concerns in South Korea about similar attacks by North Korea.

• Thailand and The Philippines are facing a crisis for their own people who were working in Israel and are injured, missing or dead after the Hamas attack. The two governments are accelerating efforts to find their citizens and repatriate them.

• Scrutiny over China’s role as peacemaker. In June 2023, Chinese President Xi Jinping proposed an international peace conference on the Israeli-Palestinian conflict. By playing an active role in this, Xi was looking to bolster his and China’s image as a mediator in the Middle East. However, for the recent conflict, Beijing has taken a neutral stance and has not offered any support or solutions.

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• The content of this news bulletin is a summary of publicly available news articles on events and developments related to Asia Pacific business sectors
• The views and opinions reflected by these headlines do not necessarily represent those of Weber Shandwick