Courtesy: file photo/Xinhua, Wikipedia
The AIIB is a step along a path that started with the Asian financial crisis, which defined ASEAN’s views about the U.S.’s commitment to the region. Although the bank may signal the rise of China, it is also a coming together of Chinese and ASEAN goals—ASEAN’s focus on infrastructure for growth requires another source of finance, and this forecasts its strong relationship with the AIIB
Courtesy: file photo/Xinhua
The announcement that major European powers will join the AIIB as founding members means the bank is now clearly accepted as a tangible game changer in the multilateral financial architecture. The formidable intentions of AIIB and the new transnational corridors project are both a challenge and an opportunity for India
Courtesy: Wanted China
WeBank, China’s first online-only bank has been launched with great expectations. It can potentially reform the country’s mismanaged financial sector by opening up credit to private SMEs and prove a model for other developing countries.
Courtesy: Narendra Modi (wikimedia.org)
A major theme at the multilateral summits this month was connectivity, with China at the forefront. India is trailing behind due to a shortfall in investment and political will, among other factors. Prime Minister Modi must follow up on his meetings at the SAARC Summit by robustly taking forward India’s connectivity agenda
Courtesy: Wikipedia
The trade deficit and border issues have usually overshadowed the public discourse between India and China. However, below this surface, bilateral business and financial engagement is growing. India will have to engage judiciously with China to ensure that the resulting geoeconomic benefits remain in our favour
Courtesy: IANS/PIB
For long the Indian administration has separated the domains of strategic diplomacy and trade facilitation. However, the new government is actively working to bring the two under one umbrella knowing well that ‘economic diplomacy’ is crucial to regaining India’s growth story
Courtesy: MEA/Government of India
Looking back at the 2008 financial crisis, when governments had to resort to bail-outs to keep economies afloat, the BRICS member countries have decided to set up a New Development Bank which will provide for a contingency fund. This initiative aims at building an alternate financial structure in terms of trade among the member states as well as creating a safety net
Courtesy: MEA/Government of India
The launch of the BRICS bank can now give the member countries confidence to experiment with other geoeconomic ambitions. Incubating a non-dollar financial architecture can be the next goal. There are existing models to build upon but India will need smart economic diplomacy to secure its interests
Courtesy: idevie.com
The New Development Bank was formalised at the just concluded meeting of the leaders of the BRICS nations in Fortaleza in Brazil this week. The location is to be Shanghai. The more appropriate and natural choice for locating the bank would have been Mumbai. There are several reasons why
Courtesy: Chaipau/WikimediaCommons
The Narendra Modi government has made the North East a developmental and foreign policy priority. Gateway House has conceived a robust regional economic plan called the “Seven Sisters’ Corridor” that can be the template for a new North East.