Economic Relations

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  • While China Scrambles Africa Builds Hope

    While commemorating 50 years of China's diplomatic ties with Africa, the China-Africa Summit, held on November 4-5, 2006 adopted a three-year action plan to deepen the existing political and economic links. This Summit, being one of the largest summits ever hosted in China's modern history, not only reflects the importance China places on its relations with Africa, but also clearly illustrates the value that the continent now attaches to this emerging Asian power vis-a-vis the West.

    November 09, 2006

    India-South Korea: The State of Affairs

    The India-South Korea bilateral relationship is a remarkable example of how trade is the primary driver in global relationships. Ideology, which marked international relations in the previous decades, has given way to trade - which now is the international marker for relations. An important watershed in the relationship will be the beginning of construction for the POSCO integrated steel plant, which is slated to begin in April 2007 and would constitute the single largest foreign investment in India at US$ 12 b.

    September 22, 2006

    Africa and China: A Strategic Partnership?

    Relations between Africa and China have increased over the year and become more dominated by China’s economic interests. With an annual growth rate of 8-9 per cent , and a booming economy, China’s dependency on accessing natural resources is a top priority and has accordingly expanded its horizons. Africa, with all its seemingly unlimited natural resources, is an ideal partner. In addition, the African continent as a whole offers a potential market for china’s low value manufactured commodities.

    July 2006

    Time to Samba

    Samba is a traditional Brazilian dance. No one form actually defines the samba; it is a set of different rhythmical dance forms. To me what India and Brazil are attempting to do is metaphorical of trying to samba. Both countries are regional powers; and though very different they are yet attempting to achieve much the same in terms of national aspirations. India and Brazil have begun to understand the inevitability and worth of collaboration in all international and bilateral fora. The Indian business community has also begun to end its benign neglect of the South American continent.

    May 25, 2006

    Bangladesh and the TATA Investment: Playing Politics with Economics

    The TATA investment of US$3 billion in Bangladesh, by far the largest foreign investment in the country, has run into rough weather over the pricing of gas. Dhaka rejected Tata's initial 2004 offer of $1.10 per unit of gas to be supplied over a twenty-year period, seemingly favouring the price to be at par with international prices. As per the new proposal submitted in April 2006, the price that Tata has offered is $3.10 for thousand cubic feet (MCF) of gas for its fertiliser plant and $2.60 per MCF for its proposed steel plant.

    May 11, 2006

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