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On December 18, India’s National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi met in Beijing. This came two months after Prime Minister Modi’s bilateral meet with President Xi on the sidelines of the BRICS Summit in Russia. Lt Gen S L Narasimhan, Adjunct Distinguished Fellow, National Security and China Studies, discusses recent developments in India-China ties and how New Delhi can manage its complex relationship with Beijing.
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The advent of the pro-oil Donald Trump in the U.S. and the strong pushback by developing countries to the unsatisfactory COP29 proposals, has opened opportunities for India in the energy sector. Instead of investing in overseas oil facilities, India will be better served as a financial investor in listed companies in large economies. This approach will help forge closer ties with strategic partners.
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Sri Lanka’s new President Dissanayake is facing his first big test – rising rice prices. High import tariffs and a powerful rice mafia given to hoarding of the staple, are compounded by other market distortions. Can he balance urban consumer demands with rural farmer interests? Either way, his options are limited.
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On October 31, Adani Power halved the electricity supply to Bangladesh, owing to outstanding dues. Bangladesh’s already weak economy has become worse under the new regime, with the country running short of funds to pay for imports of fuel and electricity.
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In the backdrop of the Shanghai Cooperation Organisation summit being held in Islamabad this week, is a restive state and peoples. Three high profile attacks in just a week were followed by a show of defiance from the large Pashtun community, demanding political equity – but also electricity concessions. The military has been stepping in to resolve commercial power deals, underlining the criticality of this issue in Pakistan.
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A potential escalation of the Iran-Israel conflict will affect energy supplies globally. Tempering the conflict will help the U.S. keep petrol prices down before its election, protect the oil and gas export traffic in the Persian Gulf, keep the surreptitious Iran-Malaysia-China oil sales going, and prevent a major headache for India, which imports over 80% of its oil.
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The past week has been eventful for India’s Neighbourhood First policy, with the External Affairs Minister’s visit to Sri Lanka and the state visit of the President of Maldives to India. Rajiv Bhatia, Distinguished Fellow, Foreign Policy Studies, Gateway House and Amit Bhandari, Senior Fellow, Energy, Investments and Connectivity, Gateway House, analyse India’s regional outreach and recent economic and political changes in the subcontinent.
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A decade after its launch, China’s Belt and Road Initiative has slowed down in South Asia, the result of poorly conceived projects, and irresponsible behavior from borrower and lender alike.
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Pakistan’s latest economic data tries to paint a cheerful picture, but the economy is still in deep trouble. The main culprit is the ‘managed’ float of the Pakistani rupee, which covers for a multitude of other sins.
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Bangladesh’s economy has been in distress for some time and is not doing as well as assumed. This could have been one of the factors that drove the protests and the subsequent coup.
