Internal political constraints dog it currently, but if overcome, South Africa can be a good chairman to BRICS and IORA in 2018. It also has a tough balancing act to perform between two great Asian powers, China and India
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President Trump’s “America First” rhetoric has eroded support for the commitments that leaders made at previous G20 summits regarding trade: rejecting protectionism and strengthening the multilateral trading system. What implications does this have for global trade? Will the more moderate voices in the administration get heard?
Britain will begin its formal exit process from the European Union on March 29. Signs that the European Union will survive are clear: public opinion is turning finally in its favour. The European economy has resumed creating jobs, and the unemployment rate, although still high, is steadily declining. Yet, what remains of the project is likely to have a different animus
His Excellency Yves Leterme, Former Prime Minister of Belgium, Secretary General, International IDEA delivered the Inaugural Keynote I on Europe at the Crossroads at 2017 T20 Mumbai meeting hosted by Gateway House on 13 February. Leterme's speech effectively explains the changing politics of global capital with the rise of new economies with respect to Europe and it's position in the world today.
India’s gas consumption is lower than the EU’s, but it too, like the EU, relies heavily on imports. With LNG likely to remain a key part of India’s gas supplies in the future, and given recent changes in the global market, what is the future potential of LNG imports for the EU and India? What are the best energy policies for the two regions?
In the aftermath of Brexit, the recently concluded NATO Summit highlighted the emerging asymmetry between NATO and the EU on their respective policy positions towards Russia. Has the expansion of NATO and the EU to absorb Eastern Europe, and the consequent large migration flows, been responsible for the visible cracks within the Europe?
The result of the Brexit referendum is nothing less than a body blow to Bretton Woods organisations, International Monetary Fund-North Atlantic Treaty Organisation (NATO)-World Bank, that originated at the end of the Second World War. The possibility of an Asian century becomes more feasible, if India can be nimble enough to make the most of the opportunity which has presented itself in Europe.
The message from Brexit is simple: the post-second world war financial, trade and industrial order and security arrangements that developed around Bretton Woods, have passed their expiry date. This is the time for countries, regional unions and global institutions to reform themselves – putting people instead of regulations and strategic objectives at the centre of their decision-making.
As the referendum on the UK’s membership of the EU draws near, predicting the outcome remains difficult. While the potential impact of Brexit on the UK has been discussed at length, a vote to stay in the EU could have implications for the UK’s domestic political situation as well as its future relationship with the EU.
On June 23, the United Kingdom will vote on whether they wish to remain a part of the European Union through the Brexit vote. The debate surrounding the vote has spurred many a heated and emotional debate. While the Indian government has not declared anything publicly - remaining in the EU would be beneficial to Indian businesses.