India and Japan have designed their collaborations over the years to be a win-win for both sides. Now, they are willing to collaborate on long-term initiatives, based on intrinsic factors of inter-dependent competencies – rather than on the defence of an extrinsic threat of a common enemy.
Amidst myriad country groupings that already exist – BRICS, IBSA, APEC, SCO and many others – a new initiative in the Pacific is looking to integrate more powerful countries to form a multilateral free trade agreement – the Trans Pacific Partnership. How important is this towards the reshaping of trade and power?
Courtesy: Phil Humnicky/Georgetown University
The first Indo-U.S. Education Summit held last week showed much promise. While education can be driving force of the strategic dialogue between the two countries, this is also an opportunity for business. India's massive education sector, estimated at $25 billion, is waiting to be tapped.
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With increasing debt and recession in the West, it seems no longer fitting for the rest of the world to follow traditional Western financial models. India’s long experience of capital markets, with its conservative and ‘inclusive’ financial regulatory system, on the other hand, makes for a compelling case study.
Courtesy: Bob Dowling
The Occupy Wall Street movement in the U.S. is gathering strength, with new groups of the aggrieved adding to the numbers of protestors. Gateway House’s editorial advisor Bob Dowling plunges into the crowd to gauge the depth of the movement, and the seriousness of the protestors’ intent.
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A decade after 9/11, the U.S. has prevented further terrorist attacks - a major achievement. But with a $1.3 trillion budget deficit, a debt downgrade, and 24 million Americans searching for jobs, the U.S. needs to attend to matters at home rather than intervening in the world's affairs.
Courtesy: WorldEconomicForum/WikimediaCommons
While the U.S. political leadership is stuck with extreme positions led by the Tea Party, India’s politicians do not seem to have a position at all. It is imperative for India’s political leadership to exercise prudent fiscal leadership to ensure that economic growth is balanced and equitable.
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The downgrade of U.S. Treasury securities by Standard & Poor’s has once again brought the spotlight on rating agencies. There appears to be a political and economic flashpoint underlying this downgrade.
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As the new head of the IMF, Christine Lagarde’s experience in cajoling world leaders will go some way in negotiating the European bailouts. The real challenge, however, will be trying to raise funds for anything as large as Italy.
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As Europe stands united in its support for France's Finance Minister Christine Lagarde as a candidate to head the International Monetary Fund, many have begun to question if BRICS is truly an effective and united bloc. Will they be able to put forth a candidate all emerging countries can support?