The global energy scenario has changed in every way – be it in demand, supply or energy type – in the last two decades. The only unchanged component has been the currency of energy trade: the U.S. Dollar. Lately, though, the Chinese Yuan has emerged as a challenger. Can the Indian Rupee be a third contender?
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India can catalyse trading in oil on its domestic exchanges, and thereby adjust global oil prices so they reflect the changing patterns of global trade. In the process, this can help Indian companies and government reduce the risks arising from high energy prices. And in the long run, it can give India a more central position in the global financial system
The 2019 G20 Summit in Osaka on June 28-29, is the 14th meeting of the Group of 20 leaders. The G20 is the world’s most influential economic multilateral forum. It is the agenda-setting forum that develops and guides rules of global economic governance. Under the Japanese Presidency, this summit will be the first to discuss and establish the rules for the worldwide governance of data, including current hot-button issues like data localisation and data sovereignty. India has both a preparatory and a contributory role to play in the G20 this year. For in 2022, it will be the President of the G20. India must identify its agenda early on; its a weighty responsibility but also an opportunity to set the global economic agenda.
There is a crisis in the WTO Appellate Body, and it has implications for India and the multilateral trading system
The U.S. strategy to impose steep tariffs on Chinese goods shipped to the U.S. has been puzzling since the tariffs are likely to hurt a large number of American enterprises based in China
Canada, which has been slow to respond to a changing trans-Pacific neighbourhood, can join India and the ASEAN member states to embark on a trilateral dialogue on the Indo-Pacific’s importance in terms of political, strategic and other domains. An alignment in outlook can strengthen the security and prosperity of a region, currently mired in U.S.-China rivalries
India has used military and diplomatic offensives against Pakistan as a response to the February 14 terrorist attack in Pulwama, Jammu and Kashmir. There are two more options available - legal, through sanctions, and economic - to curb Pakistan's dangerous adventurism. Gateway House explores both in the infographic below
The Chinese leadership faces a range of economic problems and not very palatable solutions, says Prof Heribert Dieter, Visiting Fellow at Gateway House, Mumbai, and Senior Fellow, German Institute for International and Security Affairs, Berlin, in this wide-ranging conversation with Gateway House. He also analyses the European perspective on China, the U.S.-China trade war and the role of global forums, such as G20
China’s economy is in trouble, a situation that has been exacerbated by the trade war with the U.S. They can either reduce the debt burden and accept slower growth or boost the already high level of debt, which can end in a slump.
Although China does not want to usurp the United States’ position as the leader of a global order, its actual aim is nearly as consequential. As one Chinese official put it, “Being a great power means you get to do what you want, and no one can say anything about it.” In other words, China is trying to displace, rather than replace, the United States.