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Globalisation has resulted in the interdependence of nations through the largely unimpeded transmission of investment capital and information, and integrated business operations. The leading beneficiaries have been the global 1%, and China. While it is too late and not possible to roll back an interconnected world order, globalization as we know it will recede, as will China’s standing in the world.
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The G20 will prove vital in maintaining economic balance in the post-COVID world. The strains are many, but like the financial crisis of 2008, this could be a defining moment for its members to exercise delicate diplomacy to combat the challenges of COVID-19.
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Japan has determined $ 2.2 billion for rehabilitation of industries exiting China. Prime Minister Modi’s new stimulus package, close to 10% of GDP, could be the impetus Japan needs to refocus FDI to India
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The government’s short-term approach to tax planning brings in immediate revenues but has the long-term downfall of driving away business, and encouraging tax evasion. No country has taxed its way to prosperity and India is no exception.
Courtesy: Ministry of External Affairs
COVID-19 unified G20 leaders at an extraordinary summit last week. An idea given a nudge by Prime Minister Narendra Modi, here was an opportunity for all participants to put together a plan and make a pledge for international cooperation, focusing on four main themes. Next, will they be able to turn words into action?
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The COVID-19 pandemic has exposed the deficiencies of India’s precision instrument import-dependency and the global supply-chain vulnerabilities of international high-tech manufacturing giants. New Delhi can incentivise such companies to manufacture under the Make in India and Assemble for the World in India programmes
Courtesy: Gateway House
Over the last five years, China has quietly created a significant place for itself in India – in the technology domain. While India has refused to sign on to China's Belt and Road Initiative (BRI), this map shows India's positioning in the virtual BRI to be strategically invaluable for China. Nearly $4 billion in venture investments in start-ups, the online ecosystem and apps have been made by Chinese entities. This is just the beginning; there is much more to come.
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The upcoming Financial Action Task Force (FATF) plenary session 16-21 February will be crucial for both Pakistan and Iran as the anti-money laundering and anti-terrorist financing measures undertaken by the two countries will be reviewed by the 39 member states of the FATF. Decisions will be taken on their retention or removal from the grey list and black list respectively
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U.S. President Donald Trump’s first presidential visit to India later this month bodes well for bilateral relations. It is a continuing foreign policy success story for the two countries extending through four U.S. administrations and three Indian ones. A curtain raiser on what to expect.
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The U.S.-China Trade Agreement, concluded on 15 January 2020, was the result of a trade war. It is limited to agriculture, mainly, and select service sectors of American interest, with provisions designed to prevent imbalances and distortions