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Freedom of the Seas and the Strait of Malacca-Update

Sigma Investment Counselors

January 25, 2017

We have previously commented on the importance of “freedom of the seas” (17May16) and the significance of the Strait of Malacca to international trade.

Recent news reports and satellite photos suggest that China has introduced powerful anti-aircraft and anti-missile weapons systems on all seven of the islands it has built in the South China Sea, despite President Xi Jinping’s pledge not to weaponize the islands in the Spratly archipelago.

It appears that all of this is leading to the development of operational bases that will allow China’s military to project power and assert control over this vital international waterway.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA®

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