Economic Relations

While the economies of China and Taiwan are getting integrated and there has been increasing contact between the people across the strait, the two sides are maintaining a studied silence on unification.

Focusing on specific sectors, beyond the options much in vogue with offensive emulationists or passive singularists, will help India to clarify its priorities, optimize its policy-making process and infuse its Africa policy with greater strategic depth.

India and Saudi Arabia are entering into a long term strategic partnership that encompasses political, economic, scientific and cultural relations.

The Joint Statement catapulted India-Japan strategic and global partnership to a “New Stage” in which the bilateral relationship is going to be deepened on all fronts, embracing regional, global and economic issues.

Clearly, there is immense scope for cooperation between India and Myanmar to deal in agro-based products, floriculture, engineering, timber and tobacco and expand business cooperation. Although there has been a significant increase in bilateral trade in recent years, full potential has yet to be realised.

Apart from the reluctance to move beyond viewing the India-US relationship through the prism of US-China or even US-Pakistan ties, the Indian political leadership and the strategic community have so far failed to define India’s role in the growing partnership with the United States.

Japan is seeking to forge an East Asian Community inline with the European Union. But the optimism that East Asia will realize the goal of European Union (EU) type integration does not seem realistic since historical issues still impede normal diplomatic relations.

The strategic partnership is moving towards a higher trajectory with growing co-operation in the areas of defence, economy, energy, education, environment, science, technology and innovation.

In 2007, a small piece of research by Steven Jen generated ripples about the role and significance of Sovereign Wealth Fund (SWF) in the world of finance. The term SWF was coined by Andrev Razanor in 2005, and IMF defined it as “assets held by governments in other country’s currency”. Although, SWF has a history of more than half a century, it gained currency only since 2000. SWFs have been created by the governments for different motives.

The August 28 SCO summit in Dushanbe will be viewed with keen concern by most international watchers. It comes on the heels of China’s successful conduct of the Olympics and Russia’s military assertion in Georgia. Both Russia and China have been keenly nurturing the Shanghai Co-operation Organisation as an exclusive nucleus to undercut the US strategic outreach.