Courtesy: Koerber Stiftung
While the Bandung Conference’s vision remains unrealised, its spirit can be an inspiration to reform and innovate in the international system as well as to ensure the survival of multilateralism – not only for today’s multi-aligned descendants of the conference participants but also for countries in Europe and beyond.
Courtesy: Gateway House
A slowdown of the Chinese economy, and the shift, particularly by MNCs, from China to other more competitive locations has opened up business opportunities for latecomers to supply chains in the developing world. Evidence suggests that Southeast Asia and some South Asian countries like India, Sri Lanka, Bangladesh, could be beneficiaries of the supply chain shift, particularly in labour-intensive segments.
Courtesy: New Spotlight Magazine
Building a robust engagement with India on energy can help offset some of the economic and political crises that most of India’s neighbours are facing. Smaller South Asian neighbours will benefit from cheaper electricity and oil, paving the way for greater regional economic cooperation.
Courtesy: Gateway House
Geopolitics is increasingly intertwined with the economic destiny of South Asia. Even before the U.S. tariffs were rolled out, growing polycrises had hit the global economy, which has been struggling since the pandemic. South Asia seems a relatively bright spark of regional trade and growth. This paper analyses South Asia’s trade architecture in the backdrop of a sluggish world economy in the 2020s, and makes recommendations for closer regional economic integration.
Courtesy: Gateway House
Over two centuries, the U.S. has amassed vast economic powers across the globe during and after the two World Wars , and sanctions slowly became an effective tool it used to achieve its foreign policy goals, becoming the global emperor of sanctions.
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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.
Courtesy: The Wire
India and Sri Lanka recently signed six energy agreements, including plans for an oil pipeline from India to Sri Lanka, electricity grid connectivity, and cooperation in renewable energy. Sri Lanka can benefit from India's cost-effective oil sourcing and processing and pay for it in rupees, easing its balance of payments crisis. Its wider use of the Rupee fulfills a long term objective for Indian policymakers.
Courtesy: India Today
The Shanghai Cooperation Organisation's growing importance is seen in the numerous new applicants waiting in line for membership. The 23rd SCO Summit hosted by India on July 4 saw progress in areas like digital transformation and economic cooperation. However, timidity in acting on foundational issues like anti-terrorism reflects the internal contradictions and tensions within member states - a continuing challenge for SCO.
Courtesy: Reuters
India’s South Asian neighbours have all seen sharp currency devaluations since early 2022. These are a result of maintaining artificially strong exchange rates, made possible by remittances from migrant workers. However, by postponing the inevitable devaluations, these states have made their economic crises much worse.
Courtesy: Reuters
The International Monetary Fund’s recent warning of a slowing global trade comes as a sign for South Asia to reassess its regional trade within the continent. India, in its year of G20 Presidency and as South Asia’s largest economy, can use its platform to lead the way via dialogue, capacity building, and regulatory policies to encourage open regionalism in Asia.