Economic Relations

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  • Russia in the System of Global Economic Relations

    The socio-economic history of Russia demonstrates that its ‘place’ in global economic relations has been subject to complex cyclical processes. The country entered the 20th century with a high growth rate and burgeoning industrialisation that included significant foreign capital. Historically exports primarily included raw materials such as grain and timber while imports consisted largely of machinery and consumer goods.

    Archana Gupta asked: Can CPEC help build consensus amongst opposing sides in Pakistan, and thus help bring stability and economic development?

    Priyanka Singh replies: Pakistan’s internal security situation has been on a downward trajectory. This is despite the army’s projected resolve to rid the country of militancy and violence - an idea that is much hyped during Raheel Sharif, the outgoing army chief’s tenure. In view of recurring incidents of mass killing abetted by several militant groups across Pakistan, especially Balochistan, the prospects of the China Pakistan Economic Corridor (CPEC) acting as a harbinger of stability and development appear more than dismal.

    India - UAE Relations: New Dimension to Strategic Partnership

    As India seeks to enhance economic engagement and deepen security cooperation with the Gulf, it finds a willing partner in the UAE.

    February 17, 2017

    India’s Participation in CPEC: The Ifs and Buts

    Isolated statements from China and Pakistan soliciting India’s participation in CPEC could be part of a strategic mind-game. India must consider engaging astutely in this mind-game.

    February 17, 2017

    India-China Strategic Economic Dialogue (SED): Progress and Prognosis

    This work reviews the significance and progress of Strategic Economic Dialogue (SED) in India-China relations. But addressing macroeconomic subject matters that concern the two countries’ strategic interests requires methodological deliberations that must be balanced and nuanced. The SED needs to be upgraded to a level of equal deliberation mechanism, where Beijing must address India’s economic and strategic concerns.

    April 03, 2014

    Stability and Growth in South Asia

    Stability and Growth in South Asia
    • Publisher: Pentagon Press
      2014

    This book examines the forces and processes which have led to relative political stability or unleashed trends in that direction in some countries of South Asia. It also delves into the factors that have stimulated economic growth in some countries, and impeded economic growth in others. Eminent authors from the region examine how far the positive political and economic trends in the region are irreversible or lend themselves to internal convulsions or external influences. There is also a focus on how far inter-state relations within the region have led to stronger intra-regional co-operation, particularly in the economic field.

    • ISBN 978-81-8274-748-7,
    • Price: ₹. 995/-
    • E-copy available
    2014

    Developments in the Gulf Region: Prospects and Challenges for India in the Next Two Decades

    Developments in the Gulf Region: Prospects and Challenges for India in the Next Two Decades
    • Publisher: Institute for Defence Studies and Analysis (IDSA)
      2014

    This volumes examines the current emerging social, political, economic and security trends in the Gulf Region and likely trajectory of events and plausible scenarios for the next two decades to help policy makers in India to prepare for a variety of contingencies in a region of immense importance to India.

    • ISBN 978-81-8274-745-6,
    • Price: ₹. 695/-
    • E-copy available
    2014

    China-Russia Relations: Bonding but Can it Endure?

    This issue brief looks at the growing China-Russia relationship in the backdrop of a volatile North East Asia and the US ‘rebalancing’ to Asia –Pacific. While China-Russia relations have not always been cordial, this time it’s a win-win for both-at least for the present.

    April 18, 2013

    BRICS Baby Steps: The Challenges Ahead

    Now that NAM is defunct and very little wealth is left in the Commonwealth, and given that the G-20 has a set parameter and doesn’t encompass the aggregate of the hopes and aspirations of the developing world, India should use the BRICS forum to project its global profile.

    March 22, 2013

    Sunil Meruva asked:What is the significance of RCEP for India? What will be the implications of its FTA with China for the Indian economy?

    Jagannath P. Panda replies: Debates and dialogues across Asia continue over the process of East Asia economic integration. These discussions continue in the backdrop of the United States ‘pivot’ Asia policy, and continuing tensions over disputes in the South China Sea and the East China Sea, which is touching new climax. The main thrust behind the East Asian economic integration has been ASEAN+6 Agreement and the East Asian Summit (EAS); where the aim and idea is to build a stable Regional Comprehensive Economic Partnership (RECP) among the countries in Asia. The ASEAN+6 RECP is aimed at transforming the region by higher economic growth through more cross-border trade and investment. Among these developments, the India-ASEAN relationship seems to be on constant move and on ascendancy. The relationship between India and the ASEAN seems to be touching new realities, with up-gradation of relationship to strategic partnership during the December 2012 India-ASEAN Commemorative Summit.

    India would like ASEAN+6 Regional Comprehensive Economic Partnership (RCEP) to materialize as soon as possible. This will help in furthering the aims and objectives of India’s own Look-East Policy. RCEP will have huge trade potential. In real practice, RCEP once formalized, is supposed to emerge as the most effective and largest free-trade bloc in the world. It will bring ten ASEAN countries and other six countries (China, Japan, South Korea, India, Australia and New Zealand) together. These six members have FTAs with the ASEAN currently. If it materializes, it is supposed to be one of the most vital free-trade blocs in the world; the combined geo-political resources would put the grouping into a totally different league, making it the most important economic grouping of the world. The idea of RCEP negotiations is a new one; and was mainly discussed during the East Asian Summit in Phnom Penh (Cambodia) in November 2012.

    Clubbing with the ASEAN has been a principal policy priority for both China and India. At present, while China has clubbed with the ASEAN+1, ASEAN+3 and ASEAN+6, India is clubbed only under the ASEAN+6 framework. Compared with India, the Chinese have always enjoyed closer contact with the ASEAN through a versatile engagement policy that includes building up a variety of economic, political and cultural linkages. Officially, China wants to promote and has asked for ‘ASEAN’s leading role in regional cooperation’ in East Asia under ASEAN+1 or ASEAN+3 frameworks. Beijing has developed and pushed for a range of ‘practical cooperation’ in the fields of infrastructure, connectivity, trade and economy, capital and information, transport and people-to-people exchanges. The former Chinese Premier Wen Jiabao had pointed out recently that, in 2010, ‘China became ASEAN’s biggest trading partner [...] launched the largest FTA among developing countries and [ . . . ] set the target of $500 billion in two-way trade by 2015’. India must take a serious note of this Chinese intent, and accordingly maximize its trade and economic contacts with the region.

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