However, decision-makers in Brussels should not abandon alternative sources of influence in international affairs. This is particularly relevant in the context of the rapidly growing and widening geopolitical competition in regions like Central Asia, where China, the United States and Russia are actively working to maintain their influence through

Both Moscow and Beijing have prioritized their own interests and relationships with Iran’s adversaries over any formal alliance commitments. As Shargh concludes, Russia’s unwillingness to go beyond political statements has severely damaged its credibility as an ally, while China’s realpolitik ensures that any meaningful military support will

Despite a recently signed strategic partnership agreement and years of close cooperation, Russia’s support for Iran during this crisis has proven largely rhetorical. As the reformist newspaper Shargh notes, “this alliance, at critical junctures, is based more on shifting interests than on steadfast commitments.” While Russian President Vladim

Furthermore, excessive reliance on Mainland capital could undermine the independence and openness of the market’s pricing mechanisms, making it harder for Hong Kong to attract long-term diversified capital, which could further accelerate the outflow of foreign capital. The Hong Kong dollar exchange rate would then face a new round of volatility p

assets via carry trades. On the other hand, according to EPFR data, long-term funds, represented by overseas active equity funds, have continued to show an outflow trend. Due to the previous trend of stronger net inflows of Mainland capital compared to the outflows of both local and foreign capital from Hong Kong, under the linked exchange rate sys