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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The financialization of the global economy produced the worst financial crisis since the Great Depression. The new arrangements which came into effect due to globalization, came with risks that the hyperglobalists did not foresee, although economic theory could have predicted the downside to globalization just as well as it did the upside.
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
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.
The following remarks were given by Ambassador Rajiv Bhatia, Distinguished Fellow, Foreign Policy Studies, Gateway House as Distinguished Guest Lecturer at IIM Tiruchirappalli on February 3, 2019
The imperative for India to move away from its non-aligned posture is now, especially if it wants to be consequential in the global reordering underway. This will play out in the contention between the U.S. on one side, and China and Russia on the other.