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China-centric global supply chains, the backbone of East Asia’s prosperity, are shifting out as tensions over tariffs and strategic contest between the West and China soars. Ganeshan Wignaraja, Professorial Fellow, Economics and Trade, Gateway House, discusses diversifying supply chains, the China plus one strategy, and the role of India as a supply chain magnet for its South Asian neighbours.
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The authors convincingly analyse the bewildering diversity, size and scale of the challenges of South Asia in a volume that is a rare treasure for those interested in deciphering the history, ethnic identities, colonial legacy, political economy, environmental risks, and geopolitical dynamics of the region.
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Asian nations like Sri Lanka have seen a rush of Russian and Ukrainian tourists over the last two years. They discover salubrious climes and overstay their visas to start small businesses. It has helped Sri Lanka boost tourism after its 2022 debt default but also created economic problems for locals. It is necessary to identify trade-offs between economic benefits and security threats associated with extended-stay tourism.
Courtesy: Hindustan Times
South Asia requires resilient and cost-effective regional supply chains. This can be achieved through Indian investment, fostering local linkages while reducing dependency on Chinese financing of regional partners. A new approach enhances India's regional influence, creating a win-win scenario for the entire South Asian neighbourhood in a changing global landscape.
Courtesy: Reuters
Sri Lanka has demonstrated signs of recovery following the stabilising policies implemented by the Wickremesinghe government. However, the road ahead for economic recovery is long, with risks associated with the upcoming Presidential elections, geopolitical tensions and debt restructuring.
Courtesy: Xinhua
A tiny nation of half a million people, Maldives has drawn enormous attention from the media, diplomats and informed public since Muizzu’s election last September. The interest has only risen after the recent diplomatic row with India and Muizzu’s increased bonhomie with Chinese President Xi Jinping.
Courtesy: Le Monde
A stabilising economy in Sri Lanka has eased inflationary pressures and foreign exchange liquidity crises in the past year. As economic recovery steps up, Sri Lanka has also sought free trade agreement-led Asian regionalism. However, with presidential and parliamentary elections scheduled for 2024 and an opposition that wants to renegotiate the IMF agreement, A lasting economic recovery may be derailed by political risks.
Courtesy: The Indian Express
At the meeting of the Shanghai Cooperation Organisation (SCO) on October 26, Foreign Minister S. Jaishankar stressed the importance of maintaining regional stability and enhancing economic cooperation in Central Asia. Achieving its economic and strategic objectives in the SCO will become a challenge for Indian diplomacy next year, when Pakistan takes on the chairmanship of the grouping.
Courtesy: Verité Research
The Sri Lankan economic crisis was the result of years of weak fiscal performance and lack of consistent development strategies. While economic recovery has picked up pace, addressing macroeconomics issues and implementing structural reforms to promote inclusive and sustainable growth is the key to its success
Courtesy: Voice of America
The recent presidential election outcome in the Maldives reflected a thriving democracy driven by voters' concerns for key domestic issues like employment, housing, education and healthcare. To portray the election as a football match between China and India resulting in the latter’s defeat is to ignore how South Asia's smallest state functions.