 As the United States deepens its partnership with India and focuses on the Indo-Pacific strategy, friction continues to endure between India and Pakistan and India and China, making strategic stability a worry for all of us. This is the latest. Since the launch of USIP's Strategic Stability in Southern Asia report last May, it's been remarkable that the line of control has been largely quiet with a ceasefire that has endured almost two years between India and Pakistan. And while the ceasefire has prevented a lot of cross-border firing and cross-border infiltration, which were quite high before the ceasefire, what it hasn't led to is any sort of normalization in the relationship or other confidence-building measures such as cross-border trade. Additionally, we see that India, China and Pakistan continue to expand their nuclear arsenals and different weapons systems, all of which cause us to be worried about strategic stability. All three countries are paying close attention to Russia's actions in Ukraine and drawing lessons from it, especially nuclear-saber rattling, which could intensify future clashes between the three. As we look to the future, there's a lot of potential hotspots or touchpoints, both politically and militarily, that may lead us to crisis or escalation in terms of strategic stability. Elections may add pressure to leadership to show strength and resolve in the event of any crisis. For example, in 2019, a strong response from the Indian government helped their electoral prospects going into general elections. Similarly, Pakistan has recently appointed a new army chief, General Asim Minir, who may feel pressure to be more hardline and chauvinistic during the event of a crisis. His predecessor, General Bajwa, tried very hard to reduce tensions during the 2019 crisis, but in an election year this may be harder to do. On the positive side, 2023, known in India as the year of India, features India leading both the G20 and the Shanghai Cooperation Organization. Such high-level international events actually incentivize not escalating tensions between the three countries and could be one way to maintain strategic stability. On the military front, as China expands its naval footprint in the Indian Ocean and as Pakistan acquires more Chinese hardware, we risk increasing the number of touchpoints and opportunities for miscalculation that may lead to escalation. In our strategic stability report, we discussed the June 2020 clashes between the Indian and Chinese militaries on the line of actual control, which resulted in the most deaths in 40 years on their contested border. Since then, there have been more than 17 rounds of senior military talks that have not been able to solve this issue or resolve tensions between the two countries. Just last month in December 2022, troops again on the India-China border had their worst clashes since Galwan. While these didn't result in any deaths, there were several injuries reported and show that this conflict remains unresolved. While both India and China actually assess the risk of escalation due to border clashes to be relatively low, this does increase New Delhi's concerns about facing security risks and hostility on both its borders with Pakistan and with China.