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: wikimedia/commons
Brazil is all set to host the 6th BRICS Summit from July 15. In light of the fact that most developing nations have concerns over the pro-western bent of the World Bank and the IMF, the BRICS initiative of setting up of a Development Bank needs to gain momentum and the nations should finalise the mandate on a priority basis
Courtesy: MEA/Indian Embassy Thimphu
Narendra Modi’s first month in office has seen him deftly handle India’s neighbours, accept an invitation to visit Washington, enhance relations with Bhutan and accord due importance to China. In the same manner, Modi will also have to move quickly and firmly to reassure foreign investors of the dependability of India’s fiscal environment
Courtesy: Department of National Defence, Republic of Philippines
The recently held Shangri-La Dialogue, an annual security forum of Asia’s defence establishments, highlighted the growing anxieties over China’s belligerent pursuit of territories under dispute in the South China Sea. The U.S. and Japan have made it clear that they will strongly challenge China’s claims. It’s a tussle that will throw up new security dilemmas for India in the future
Courtesy: Mass Communication Specialist 1st Class RJ Stratchko
In the wake of an ambitious and aggressive China, American President Barack Obama’s recent visits to various Asian countries were meant to assure allies old and new. At the same time, he trod a fine line, ensuring that he does not displease Beijing. And that may embolden China
Courtesy: rajkumari1220/Flickr
India’s political and economic future will be determined over the next few weeks. Gateway House recommends a priority diplomacy agenda for the next government – one which puts economics at the heart of our foreign policy
Courtesy: U.S. Central Intelligence Agency/Wikimedia Commons
China is reportedly taking advantage of the situation in Ukraine to further its claims in the South China Sea. Its aggressive stance has pushed the Philippines to approach The Hague for arbitration. There are concerns that the tensions could lead to a breakdown of trade routes in the Western Pacific
Courtesy: GOV.UK/Flickr
A slumped arms industry and the U.S. shale gas sector will gain from NATO’s threat of stricter sanctions and suspension of Russia from the G8. BRICS has protested, but unless we consolidate alternate international financial structures, even other big economies like India can eventually be the targets of sanctions
A new equation is emerging between the BRICS countries and the informal grouping of the most industrialized economies, called the G8. The G8 has been reduced to G7 following Russia’s suspension. Of late, BRICS have taken an assertive stand against the G8 in economic as well as the geo-political fora
Courtesy: Agnostic Preachers Kid/Wikimedia Commons
To navigate the U.S. away from the huge monetary stimulus, the Federal Reserve has initiated tapering. But in an integrating world, the emerging economies, especially India, China and Brazil, will see collateral liquidity damage. How will the Fed enforce its mandate? How will central banks in emerging markets react?