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The Chinese Renminbi is now the first in the developing world to find a place in IMF’s basket of reserve currencies. But the road to its inclusion becoming effective is still almost a year away. In this time, China will likely further integrate its currency with global markets
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The U.S.-driven Trans Pacific Partnership agreement between 12 countries, which is aiming to become the new standard of world trade, impacts domestic systems globally. For India, it will skew investment and intellectual property rights, and especially the debate over the Investor State Dispute System which allows companies to challenge sovereign rights and public policy.
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As the discussions at a recent meeting on sustainable infrastructure hosted by the Economic Policy Forum showed, many of the building blocks are already in place. The challenge now is to focus on macro public policy issues, and ask if the short-term compulsions of governments and the private sector will continue to create infrastructure that is unsustainable.
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This year, India's defence diplomacy has ramped up. In 2015 alone there have been 18 military exercises- naval, army and air force- with 13 countries, among the largest engagements the country has had. Most significant is Japan joining the Malabar exercises in the Bay of Bengal and the first-ever maritime exercise with Australia. This is increasing India's presence from the Arabian Sea to the Bay of Bengal. As these exercises intensify India will be better positioned to handle regional security challenges.
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The recent U.S. and China agreement to contain cyber espionage will not only impact their bilateral relationship, it will also create norms in international cyberspace. But implementation remains a challenge, and businesses, including in India, that have faced cyber threats must proactively plug their vulnerabilities
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Although it is too soon to comprehensively analyse the Trans-Pacific Partnership agreement of October 5, it is worth assessing what is known. Here are the facts, the controversies, the assessments, and the implications for countries that are not part of the agreement, especially India.
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At a recent international seminar on BRICS Studies, in addition to the predictable themes such as building a multipolar world order and the One Belt One Road project, fresh ground was also covered, including the contours of the New Development Bank and the potential impact of the refugee crisis on BRICS countries.
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The ‘One Belt, One Road’ initiative announced by China last year is being actively implemented at the provincial level. A recent conference in Lianyungang, Jiangsu province, provided a glimpse of China’s multi-pronged strategy to harness various resources available to make OBOR a success.
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GLC Policy Conclave Session 1: The New Financial World Order Shashank Bengali (SB): So, Rajrishi, can you tell us basically what the circumstances were that led to the development of these new multilateral institutions? How did we get here? Read more
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The new guidance on the development of internet finance in China provides insight into the future of China's pioneering internet finance industry and the defining role it will play in the country's economic reform process