On January 17, 2025, the National Bureau of Statistics (NBS) of China released the GDP figures for the year 2024. The statistics show that China achieved its 2024 GDP target of 5 per cent in December 2023 at the CEWC meeting. The economy peaked in 2007 with a 14.2 per cent growth rate but stagnated after President Xi Jinping implemented the ‘Three Red Lines’ policy to improve the real estate sector. Stimulus measures and impressive Q4 growth from exports and manufacturing ended the year positively. The GDP totalled RMB 134.91 trillion (US$18.80 trillion) with a 5% year-on-year growth rate in constant prices, meeting the government’s objective.
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H-1B Visa Politics: US Immigration Policy and its Impact on India
The triumph of the Republican leader Donald Trump as the President of the United States has brought the political focus on immigration issues and the H-1B visa programme to the forefront. The tough posture on the H-1B programme in his first tenure has softened his stance in his second tenure with courtesy of his Silicon Valley ally and supporter Elon Musk whose company thrives on a global talent pool for whom he says “we cannot do without them…go to war for visa issue if necessary”. With Musk appointed as the head of the New Government Efficiency Commission tasked with cutting down the federal budget from US$6.75 trillion to US$2 trillion, Trump intends to make the US into a manufacturing superpower to accomplish his mega project of ‘MAKING AMERICA GREAT AGAIN (MAGA).
India’s Soft Power and Cultural Diplomacy
In modern era, India’s journey to leverage its soft power capital, which had begun influencing its interactions with foreign states and societies even during the colonisation phase. Intellectual and radical interactions of luminaries like Swami Vivekananda, Tagore, MN Roy signalled an intrepid internationalism in their minds. To quote Gandhi, “I want the culture of all lands to be blown about my house as freely as possible. But I refuse to be blown off my feet by any”. As one of the few uninterrupted surviving civilisations, with its unique values and worldview, India offered new meanings to concepts like war, peace, power, religion, and similar others.
United States under Trump 2.0 wants the Panama Canal
Donald Trump recently claimed that the United States is being “ripped off” by the Panama Canal’s administrators and alleged that “Chinese soldiers” are operating the canal. He has threatened to “demand the return of the Panama Canal” to the United States. On December 23rd, Panama’s president, José Raúl Mulino, responded by asserting that “every square metre of the Panama Canal” is the country’s property, a stance supported by opposition parties. Trump’s actual objectives might be less extreme, but their specifics remain unclear
Justin Trudeau Resigns as Canada’s Prime Minister
On January 6th Justin Trudeau, Canada’s prime minister, announced his resignation. Over the past year he has became an isloated and deeply polarising figure as supporters have abondoned his Liberal Party, angry that it has failed to tackle inflation, housing costs and the strains from high immigration. In the coming weeks the Liberals will be gripped by a leadership struggle. Potential replacements include Mark Carney, who ran the Bank of England, and before that the Bank of Canada; Chrystia Freeland, whose surprise resignation as finance minister precipitated the crisis that forced Trudeau out; and Dominic Leblanc, who succeeded Freeland as finance minister.
Trump to Mediate Peace between Russia and Ukraine
Nobody expects Donald Trump to end the Ukraine war in 24 hours, as he has claimed he could in the past. However, the new administration, which takes office on January 20th, is highly invested in bringing both sides to the negotiating a peace deal. But even that may prove difficult. In an Interview on December 30th the Russian foreign minister, Sergei Lavrov, slammed leaked proposals from Trump’s team for a peace deal. Putin, who believes Russia is winning, has given no sign of retreating from his maximalist goals.
10 Global Conflicts to Watch in 2025
In the Middle East, a chain of conflicts is taking place set off by Hamas’s Oct. 7, 2023, attack on Israel followed by the latter’s retaliation on Gaza Strip; Iran’s region wide attack through non-state proxies; and thus, setting a stage for Islamist rebels to topple the Assad’s regime, ending a half-century-old dictatorship in Syria. We also witnessed more aggression from Russia on Ukraine and thereby threatening a wider confrontation in Europe.
Is Luxury Losing its Spark? Affordable Exclusivity to the Rescue
The global luxury industry, long reliant on the wealthiest clientele, is facing a critical crossroads. As prices soar, even the affluent are beginning to feel the pinch, particularly in key markets like China. Luxury brands, which have historically thrived on exclusivity and high margins, are now confronting the dual challenge of maintaining their elite status while appealing to a broader, more aspirational customer base. The question at the heart of the industry’s future: Can luxury remain exclusive without pricing itself out of the market?
Islamic State is back in the United States
On New Year’s Day Shamsud-Din Jabbar, a 42-year-old American, rammed a pickup truck into a crowd in New Orleans, killing at least 14 and injuring 35. The FBI says it was terrorism; Jabbar had an Islamic State flag. If Jabbar was inspired by the ISIS, the Jihadist group can add the attack to its recent successes. Exactly a year ago, an ISIS terrorist killed 95 civilians in Iran during a ceremony to commemorate Qassam Soleimani, a top general assassinated by America.
Iran in Syria: A Strategic Setback, Not a Defeat
The blitzkrieg campaign by the Syrian rebel coalition headed by the Hayat Tahrir Al-Sham (HTS) leader Abu Mohammed al-Jolani ended the five-decade rule of the Assad family in Syria. President Bashar al-Assad was removed from power after an arduous and long decade of protest by the rebel groups. Amidst the dramatic shift, the future stakes of Iran in Syria have come into the spotlight. Being a prominent ally of Assad, Iran has faced strategic setback in a country crucial to enhancing its strategic depth. Nevertheless, it is too early to determine the aspect of strategic defeat as Tehran has the vitality to recalibrate its policy.