Courtesy: Government/ZA/Flickr
At the 5th BRICS Summit that begins in South Africa today, the heads of state of Brazil, Russia, India, China and South Africa are expected to ratify the creation of the BRICS Bank. After discussion and study for over a year by the respective governments, the bank will be launched with seed money estimated at between $50 billion to $100 billion, and most likely an equal share of voting rights for the management of the bank. What remains
Courtesy: Shwkyn231/Flickr
The year 2012 has been a busy one for foreign policy: from escalating disputes in the South China Sea to alternate financial instruments from the emerging world. India’s foreign policy too has its shown strengths and weaknesses. We present our top foreign policy Hotspots, Sweet spots and Blind spots for 2012.
The Chinese have learned from Russia’s past mistakes at reforming state-owned enterprises (SOE), and some well-connected politicians have reaped the economic benefits that followed. Will the new administration in Beijing reform China’s SOEs or maintain the large role of government in industry?
Courtesy: trendscout::/Flickr
All the major economic forces in the world have come together in Africa in a new version of the Great Game. The competition for the continent’s resources will ultimately harm Africa unless Africa uses this opportunity to its advantage and to address its own serious problems.
With the Free Syrian Army being supplied aid by the West and the Gulf Cooperation Council countries, the endgame for the Syrian regime has begun. Does Assad's exit guarantee the replacement of autocracy with democracy? What implications will it have on regional politics?
Courtesy: Ministry of Defence, India
Though India may seem to be mirroring or competing with China’s military build-up, it doesn't seem to be doing so in consonance with a long-term plan. New Delhi would be better served by avoiding an arms race; staying away from the U.S.-China rivalry and fostering stronger relations with its immediate neighbours.
Courtesy: FreedomHouse2/Flickr
Simultaneous efforts to resolve the problem in Syria remain stymied even as more and more high level meetings and consultations take place. The more countries treat the situation as a proxy for political differences, the more it creates the conditions for a wider conflagration with an unpredictable outcome.
Courtesy: IAEA Imagebank/Flickr
Ahead of nuclear talks between Iran and the P5+1 in Moscow, the West seems confident that sanctions will induce Iran to settle on its uranium enrichment. But rather than arriving at a negotiated settlement by applying the principle of reciprocity, the West may look to anaesthetize oil markets.
Courtesy: Flickr/t3rmin4t0r
Banks around the globe would be wise to take a second look at what now could be the most significant agreement in international finance since the Euro: the BRICS currency swap. Though certain geopolitical risks are involved, could this free India from unpredictable currency fluctuations?
Courtesy: Flickr/freeedomania
By forcing regime change in Libya, and attempting the same in Syria, and by promiscuously arming disparate groups of Wahabbis and Salafists to achieve this aim, NATO is creating more room for instability in the region. What Syria needs is engagement, not isolation; it needs dialogue and not the arming of rebels.