As the Israel-Palestine conflict persists, the India-Middle East-Europe Economic Corridor (IMEC), announced in the backdrop of the G20 summit held in Delhi in September, 2023, remains a non-starter. The resolution of the Israel-Palestine conflict is nowhere in sight. As opposed to delaying the implementation of IMEC until the crisis is resolved, the participating nations could look at additional routes that would connect India to Europe bypassing Israel. One such route can connect India to Europe via Oman, Saudi Arabia and Egypt, while the rest of the Gulf Cooperation Council countries can be connected to the corridor via branch routes.
Tag: Economy
We are Shifting Towards a Multipolar World
The landscape of international politics is constantly changing and posing a serious challenge to the existing global order for the last three decades. The emerging role of the different middle powers is key to shaping the power dynamics and has reduced the relative power of the U.S. and opened up the scope for emerging economies like China, India, South Africa, and Brazil. Robert Gilpin, a scholar of the Realism school, opined that the global order is a dynamic reflection of shifting power dynamics among states, historically marked by conflicts and restructuring the power equations.
US Reports Reveal that China is Aiding Russia’s Military Expansion
According to an assessment by US officials, it is revealed that China is playing a significant role in the military expansion of Russia, particularly in its efforts in the war against Ukraine. China has been increasing its sales of various technology and equipment to Russia, which Moscow will use to build up its military arsenal. China has been the major supplier of microelectronics, machine tools, and other crucial technology to Russia. In 2023, around 90% of Russia’s microelectronics came from China, which is essential in the production of tanks, missiles, and aircraft. Additionally, over 70% of Russia’s machine tool imports came from China last year.
Hong Kong’s National Security Law and its Potential Impact on Foreign Entities
The new national security law a legislation under Article 23 has been passed in Hong Kong Parliament. This is the second in a row of national security laws since 2020. The legal personnel has feared that the new law shall broaden the scope of defining sedition and state secrets, with tougher penalties for anyone under conviction. The new law encompasses treason, espionage and external interference is being closely watched by foreign businesses. Notably, the most serious offences are sometimes punishable with life imprisonment, convicted of involvement with ‘external forces’.
To what extent has North Korea achieved Economic Liberalisation?
North Korea has a communist style of governance, and the role of market allocation schemes is limited. Basically, the country has a centrally planned economy with a total GDP of nearly 20 billion USD. It was expected to reach 21.24 USD billion by the end of 2023 and 25.06 USD billion in 2024. Comparably, North Korea’s GDP is 57 times smaller than that of South Korea’s GDP. The Gross Value Added (GVA) of the country is dominated by agriculture, followed by the manufacturing and construction sectors. North Korea had a similar GDP to its neighbour from the time of the Korean War until of mid-1970s. However, estimating the isolated nation’s GDP is actually a difficult task because of the lack of availability of data.
Is the United States facing a Third World Future?
The United States has long been considered a global superpower and a symbol of prosperity and democracy. However, recent developments and global power shifts towards Asia have raised questions about the country’s standing. As the world’s largest economy, the United States has traditionally been at the forefront of global leadership, championing democratic values and capitalist ideals. However, a closer examination of the country’s current situation reveals a complex picture that warrants analysis.
China Renames 30 more Places in India’s Arunachal Pradesh
In this issue of China Watch newsletter, the author provides in-depth analysis on; 1) China renaming 30 places in India’s state of Arunachal Pradesh, 2) China set to become World’s largest Airforce, 3) Takeover of Tibet and more.
Interim Budget and the Road to the Big Game Ahead
For the current government it’s not an ordinary budget but it’s a report card or a moment to show its credibility for the next season. This budget is said to be the 6th in row for Finance Minister Nirmala Sitharaman. Read to know the budget’s nutshell