Ideas for the NDB’s institutional design by Zhu Jiejin
The New Development Bank initiated by BRICS countries can reform and democratise global economic governance. But to reach this goal, in this critical period when the bank is preparing to operationalise, it must formulate an innovative institutional design. This article outlines four guiding principles for such a structure
How culture and education can bind BRICS by Rajrishi Singhal
If, after nine years, BRICS remains a disparate grouping, and its trade and investment flows remain dismal, it is time to explore new avenues of cooperation to consolidate the alliance—and culture and education can provide the necessary cementing factor when combined with the New Development Bank
BRICS headquarters in Mumbai By Manjeet Kripalani
Globally, metropolitan cities are becoming powerful centres that sustain entire countries. In the case of Mumbai, the government can work backwards by stitching the infrastructure and governance together. The tried-and-tested technique is to host an international institution or event. Gateway House argues that Mumbai is most appropriate to be home to the headquarters of BRICS
India in an expanded SCO by D.A. Mahapatra
India’s inclusion as a full-member will lend credibility to the Shanghai Cooperation Organisation, which until now has been dominated by China. However, until the strong differences between member nations are resolved, it will be a while before the SCO can become a multilateral force to be reckoned with
VII BRICS Summit: Preview (Podcast)
Neelam Deo, Director, Gateway House, and Akshay Mathur, Geoeconomics Fellow, Gateway House, preview the upcoming VII BRICS Summit to be held in Ufa, Russia, and discuss the status of the BRICS New Development Bank
SCO: Central Asia is extremely important for India (Podcast)
Ahead of India’s elevation to a full member of the Shanghai Cooperation Organisation(SCO), Sameer Patil, National Security Fellow, Gateway House, and Dev Lewis discuss the SCO and India, as well as Prime Minister Narendra Modi’s planned meeting with Pakistani President Nawaz Sharif
South Africa and BRICS (Podcast)
Dev Lewis speaks to Sanusha Naidu, Research Associate at the Institute for Global Dialogue in Pretoria, on range of topics from South Africa’s view on BRICS and its position on internet governance to the New Development Bank’s regional centre in Africa
Realising the potential of the BRICS By Bheemaiah Kariappa
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
Incubating a non-dollar architecture By Akshay Mathur
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
BRICS bank: what’s in a location? By Manjeet Kripalani
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
Mandate for BRICS Bank By Akshay Mathur
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
BRICS versus the G8? By Marisha Dolly Singh
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
Reflections from Rajrishi Singhal on VII BRICS Academic Forum
Rajrishi Singhal, Senior Geoeconomics Fellow, attended the VII BRICS Academic Forum in Russia. He outlines key takeaways and observations from the Forum and discusses the need for BRICS to provide a mandate for the New Development Bank
Brazil
The rise and fall of Petrobras By R. Viswanathan
Petrobras, which rose to become the fourth largest company in the world, is now battling a serious corruption scandal that has left its reputation in tatters. How did this global oil major scale such heights spectacularly and and then fall so low? There are lessons in this for India’s public sector oil companies.
Brazil: protests and Petrobras By R. Viswanathan
The 14 March protests are the latest in a series against corruption in Brazil. While the government is acting, the political and economic environment will continue to deteriorate until it is rooted out.
Brazilian Embraer can inspire HAL By R. Viswanathan
Embraer started as a Brazilian public sector firm, and has debunked the fiction of the developed world being the source of high tech products for the less developed. Its success can be an inspiration for ‘Make in India’ aircrafts by Hindustan Aeronautics Limited
Rousseff reelection: lower expectations By R. Viswanthan
The reelection of President Dilma Rousseff means continuation of the slow growth of the Brazilian economy and a lower likelihood of much-needed, major political and economic reforms. India should lower its expectations on a global partnership with Brazil
Green Party speak By Rajni Bakshi
The Green Party in Brazil is a small but significant presence, whose ideas of reform and conservation are gaining wider acceptance. In this interview, Eduardo Jorge, the party’s leader, discusses what BRICS represents, his views on India, and the response of governments and business to climate change
Federalism, swaraj and Brazil By R. Viswanathan
Brazil follows a more decentralised form of federalism and gives special importance to the municipalities. Porto Alegre’s successful ‘participatory budgeting’ is a role model for the world. India can learn from both the positive and negative aspects of the Brazilian system
India can learn from Brazil’s ethanol policy By R. Viswanthan
India’s extreme dependence on imported energy often renders our economy vulnerable in the face of geopolitical changes. Given the high financial viability, India, being the world’s second-largest producer of sugarcane, should emulate Brazil by replacing petrol with ethanol as fuel.
Brazil: time to be a global power? By R. Viswanthan
Brazil’s advantages – including resources of oil and gas, no historical baggage, an absence of terrorism and military conflicts – and regional leadership, make it a potential global power. But it also has to tackle many challenges in the medium-term, such as poverty, poor infrastructure, healthcare and education
Russia
Rosneft-Essar deal By Amit Bhandari
Conjecture about a Rosneft-Essar deal shows how the oil market dynamics have shifted in the past few years. Just as supply security is important to oil buyers, demand security is crucial for oil suppliers. Buying refining and marketing assets in big markets like India is the route to demand security for Russia, whose economy depends on petroleum exports.
Should ONGC buy Rosneft? By Amit Bhandari
A fall in oil prices has pushed down the values of oil companies globally, giving India a rare chance to acquire assets cheap and hedge its economy against future increases in energy prices. There are plenty of plum assets to pick from—such as Rosneft, the state-owned Russian oil major
A new energy mix for India By Amit Bhandari
The India-Russia nuclear agreement envisages 12 nuclear reactors to be built in India. These will help India shift its energy mix towards nuclear power, which is cheaper than coal and less polluting
Sanctions are a negative peace By Debidutta Aurobindo Mahapatra
The imposition of sanctions by Western countries on Russia has conflagrated the Ukrainian crisis with both sides indulging in an asymmetrical sanctions game. The hardening of positions has caused the Russian and the European economies to suffer, with no end in sight for the conflict
The dangers of tightrope walking By Katharina Obermeier
Eastern Europe has seen tensions rise, increasing violence and a hardening of stands. Only the softening of the stark “either/or” choice currently being demanded by western powers as well as Russia will put an end to the precarious tightrope walking of east European governments and prevent their citizens from becoming victims of increased regional instability
Impact Analysis: Russia-China gas deal By Amit Bhandari
Russia’s gas supply agreement with China represents a shift away from its traditional European markets, towards Asia. The deal presents a blue print that India can follow to secure its own energy supplies and by drawing Russia into the LNG business, India can help bring down natural gas prices
‘The major implication is symbolic’ By Shai Venkatraman
Ronen Sen, former Indian Ambassador to Russia and the United States, talks about the global implications of Russia’s suspension from the G8. In an interview to Gateway House, he also discusses the impact of these developments on major geopolitical issues like Iran and Syria
The G8 is G7 again By Neelam Deo
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
‘Sanctions on Russia could impact India’ By Neelam Deo
Neelam Deo, Director, Gateway House, talks about the potential economic impact of the ongoing crisis in the Ukraine. In this interview, she also examines the aid packages offered to Ukraine by Russia and the West, and assesses how the situation will affect India’s trade relations
INDIA-CHINA
India-China deficit: beyond iron ore By Rajrishi Singhal
A distinguished Chinese scholar, speaking at a BRICS forum in Moscow recently, ascribed the growing India-China trade deficit to India’s ban on iron exports. While this contention is partially true, the data does not validate this argument, and nor does his view account for the other reasons for the deficit
China’s ‘think tank’ culture By Sameer Patil
A recent visit by Gateway House researchers to various think tanks in Beijing and Shanghai offered a glimpse of China’s efforts to establish a “think tank culture”. The government hopes this will create a research base for policy analysis and project the country’s power globally, but for now the thinks tanks face many challenges, such as intellectual autonomy, language, and using resources optimally
China and Digital India By Dev Lewis
Less than two years ago most Indians would struggle to name a Chinese company. Fast forward to the present, Chinese smartphone company Xiaomi is on the tips of everyone’s tongue. Chinese internet giants Alibaba, Tencent and Xiaomi have emerged as investors and major players in India’s fast growing e-commerce and internet space. Their emergence marks a new and exciting area of cooperation and engagement between India and China
OBOR and India’s security concerns by Sameer Patil
While China will seek India’s cooperation on its ambitious ‘One Belt, One Road’ project during Prime Minister Modi’s visit this week, Indian policy makers must soon articulate a definite stand on this transnational corridor by bridging the country’s security concerns and the benefits of such an engagement with China.
Co-designing the new Silk Road by Rajni Bakshi
China’s Silk Road Economic Belt initiative will feature prominently on the agenda when Prime Minister Modi visits Beijing and Shanghai on 14 May. India can make a strong move to co-design the framework and details of this initiative – making it truly collaborative and win-win for all of Asia
Comprehensive reforms in China? By Dr. Varaprasad S. Dolla
The annual meeting of the National People’s Congress in Beijing in March covered wide and significant ground, including President Xi’s vision of deepening reform and law-based governance. The meeting also emphasised environmental protection and enforcement of IPR. But the outcome of these plans remains to be seen
China’s ebanks: a new regime by Jack Marr
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.
India 2015: China’s check or mate? By Akshay Mathur with research team
From the Indian perspective, how China manages the readjustment of its economy and how secure South Asia remains, will be two major determinants that will influence world affairs in 2015. Gateway House has developed four scenarios to explain the outcomes that will ensue, starting 2015, when these two determinants intersect..
China’s connectivity tips for India by Karan Pradhan and Dev Lewis
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
India in an expanded SCO By Debidutta Aurobindo Mahapatra
India’s inclusion as a full-member will lend credibility to the Shanghai Cooperation Organisation, which until now has been dominated by China. However, until the strong differences between member nations are resolved, it will be a while before the SCO can become a multilateral force to be reckoned with
Preparing for the Chinese-Indian century by Kishore Mahbubani
Contrary to conventional wisdom, the positives outweigh the negatives in the India-China relationship. Both countries share a common opportunity to grow their economies exponentially and much will depend on the tone set by Prime Minister Modi and President Xi when they meet in Xian this week
The China Discourse in India by Shai Venkatraman and Dev Lewis
India has viewed China through the lens of suspicion since the 1962 war. Despite the two countries moving forward on the economic front, negative public perception persists. The Indian news media has a role in this, playing up stereotypes instead of building bridges
INDIA-SOUTH AFRICA
Polls in South Africa: lack of choices By Mzukisi Kobo
The African National Congress has swept the polls in South Africa but high unemployment, violent labour strikes and allegations of crony capitalism has seen an erosion of the ANC’s support base among the black middle class voters whose backing the ANC has traditionally enjoyed
South Africa: new contender emerges By Sanusha Naidu
The African National Congress party which has won its fifth consecutive victory in the elections faces a long-term challenge, both on the streets and at the ballot box. The newly formed Economic Freedom Fighters party has cut into the ANC’s base significantly in habitual strongholds like Gauteng, the economic hub
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