looking beyond borders

foreign policy and global economy

Archive for the tag “trade”

The Odd Couple: Singapore’s Relations With China

As to why China and Singapore developed a special relationship can be traced back to the latter’s spectacular economic growth after its independence in 1965. With the exception of three years, Singapore’s economy would grow at an annual rate of over six percent for three decades (and over ten percent for half that time)…That appealed to China, whose communist party in the late 1970s had started a long economic reform process to turn its brand of communism into what would become known as “socialism with Chinese characteristics.”

Read Here – Foreign Policy Research Institute

Where China Isn’t Sending Its Best And Brightest

In this sense, China is acting like the colonialists of old: For nearly a century, Britain, first through the East India Company and then under the Crown, exported its own mediocre men to supposedly civilize the South Asian Raj, contributing to the Empire’s impotence and eventual fall. Today, China is ultimately undermining its efforts to become the globe’s foremost power by shipping abroad its own middling ruralites.

Read Here – Washington Monthly

Three Tiresome Myths About China’s ‘Incompatible’ Economy And Global Trade

So, the sooner the advanced Western economies that laid the original rules for the WTO get off their pompous high horses, the better. The sooner they recognise that China’s practices do not constitute a unique and existential challenge, but rather raise important 21st-century questions about how original trade rules need to be updated, the better.

Read Here – South China Morning Post

Putting Dogmas Behind A Starting Point For India

A nation that has the aspiration to become a leading power someday cannot continue with unsettled borders, an unintegrated region and under-exploited opportunities. Above all, it cannot be dogmatic in approaching a visibly changing global order. Napoleon once said that history is a version of past events that people have decided to agree upon. The world that awaits us not only calls for fresh thinking, but eventually, a new consensus at home as well. Putting dogmas behind us is a starting point for that journey, says India’s Foreign Minister S. Jaishankar.

Read Here – Indian Ministry of External Affairs

Is Economic Winter Coming?

Now that the old rules governing macroeconomic cycles no longer seem to apply, it remains to be seen what might cause the next recession in the United States. But if recent history is our guide, the biggest threat stems not from the US Federal Reserve or any one sector of the economy, but rather from the White House.

Read Here – Project Syndicate

China Says RCEP Economies Committed To Work With India To Resolve Lingering Trade Deal Issues

China said the small number of issues standing in the way of the Regional Comprehensive Economic Partnership (RCEP) could be resolved by the end of the year, adding member states were also ready to work with India to address outstanding issues. Fifteen nations from the Asia-Pacific region – the 10 ASEAN nations plus Japan, China, South Korea, Australia and New Zealand – agreed on the outline of the trade pact earlier this week.

Read Here – South China Morning Post

India Turns Its Back On Freer Trade

World leaders at the 3rd RCEP Summit in Bangkok, Thailand on November 04, 2019. Photo/PIB

India, which has for some years now been raising walls against the rest of the world, appears to have definitively turned its back on freer trade. Fifteen of the 16 countries involved in negotiations agreed on Nov. 4 to sign up to the giant trade agreement known as the Regional Comprehensive Economic Partnership. Only India, after months of uncertainty, chose to hold back for the foreseeable future.

Read Here – Bloomberg

Europe ‘Pushed Off Beijing’s Radar’ In China’s Drive To Seal US Trade Deal

China’s all-consuming focus on sealing a US trade deal forced its top trade negotiator to cancel a trip to Brussels, raising the risk of Europe being pushed “off a cliff”, according to the head of a leading European business group in Beijing.

Read Here – South China Morning Post

EU Agrees Brexit Extension To 31 January

The EU has agreed to a Brexit extension to 31 January 2020, with the option for the UK to leave earlier if a deal is ratified, clearing the way for opposition parties to back a general election. After a 30-minute meeting of European ambassadors, Donald Tusk, the president of the European council, said the EU27 had agreed to the request made by Boris Johnson just over a week ago.

Read Here – The Guardian

No Art To The US-China Trade Deal

The real problem with the phase one accord announced on October 11 is the basic structure of the deal into which it presumably fits. From trade to currency, the approach is the same – prescribing bilateral remedies for multilateral problems.

Read Here – Project Syndicate

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