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As China’s global competitive edge is sharpening across the military, economic, diplomatic, and technological domains, it is clear that the extent to which the Quad countries (Australia, India, Japan, and the United States) can collaborate across all four domains will be an important factor in determining whether China’s hegemonic designs on the Indo-Pacific will succeed.
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The future is likely to see ‘Big FinTech’ replace ‘Big Tech’. But this time around, India can be part of the story from the ground up. India has been ahead of the fintech game on the technology, regulatory and consumer fronts.
Courtesy: European Commission
This India-EU summit was different from the ones past, and India is a significant gainer. A trade agreement and connectivity partnership aside, the EU has stepped up to help India during this emergency, viewing it not as a weak state but as a partner in distress. The geopolitical indicators for an enhanced engagement are now also in place.
Courtesy: European Union
The EU’s Indo-Pacific strategy comes better late than never. But it has to step gingerly. It cannot antagonize China, wants to build on the legacy of its members’ colonial past, give the region the infrastructure it needs, and make the trade agreements that it wants. Is it achievable?
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Individuals now generate copious amounts of personal data everyday – both online and offline. Devices and infrastructure extract data, which can be shared instantly across borders with diverse entities - without consent. It is imperative that countries come together to create regulations to protect individuals who are unable to control how their data is shared and processed. A model already exists in the Paris Climate Agreement.
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Big Tech wields considerable influence over commerce, speech, media, and politics. Mergers and acquisitions have been key to their burgeoning growth. Now it is clear that their power is buttressed by anti-competitive and predatory practices. Governments across the world are moving to redress this through regulation, but the task is complex.
Courtesy: Twitter
As President Joe Biden completes his first month in office, his foreign policy on China and the Indo-Pacific will come under scrutiny. The choices made will be significant as they will define the future prospects of the Quadrilateral Security Dialogue. Given China’s long-term and comprehensive challenges, which encompass both, security and economy-technology, the Quad will have to respond with a matching strategy.
Courtesy: Radio Free Asia
The recently-enacted China Coast Guard laws have renewed uncertainty in the South China Sea. India must work with the Quad to build collective maritime competence of maritime law enforcement agencies beyond the Indian Ocean Region within the Indo-Pacific.
Courtesy: asean.org
Vietnam had a busy 2020, starting with its chairmanship of ASEAN and ending with the signing of RCEP, and a free trade agreement with the EU. All were completed successfully despite the pandemic, which it also handled well. It has revealed Vietnam’s dexterity and confidence, good management and societal control and raised the country’s global profile.
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As 2021 opens, the post-COVID world can expect some changes in the geopolitics of Asia. It will involve altering equations in the Indo-Pacific among major, middle and small powers. These will fluctuate with characteristic familiarity, creating instability, tensions and strife, but not leading to military conflict – barring an unforeseen accident. Post-COVID, the world will be uncertain and complex.