NRB: One analytical chapter of the IMF report talks about policy measures needed to revive growth in emerging market economies. I found two of the five measures interesting: increase domestic finance and improve governance mechanisms. We need to do well in these areas. I am not sure if measures like merging banks are the best idea. We don’t need fewer banks; we need more banks and more financial instruments to go forward. If we look at the cost of doing business, it is very high compared to countries in East Asia for reasons such as governance. We should definitely join RCEP, but we need to improve on various indicators to make use of the membership. … [Read more...] about What can India do to overcome the global slowdown?
China trade agreement with india
All of this means the US-China trade war will resume at some point down the road. Much of what the US is demanding goes right to the heart of China’s State-dominated economy. Beijing’s domestic economic structure is fundamentally not about free markets and the private sector; it is shot through with State subsidies and controls. India, itself a victim of subsidised Chinese exports, has been quietly supportive of the US’s efforts to constrain China’s predatory economic practices. It will probably hope a similar symbolic victory will be enough to bury its own, much less acute, trade difficulties with the US. But the US-China struggle’s negative impact on the World Trade Organisation’s future is a source of long-term concern. … [Read more...] about The limits of the US-China deal | HT Editorial
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The International Court of Justice, where Gambia has filed a case of genocide against Myanmar, on Wednesday said it will deliver its decision next week on whether emergency measures should be imposed on Myanmar over alleged genocide of its Rohingya Muslims. … [Read more...] about Belt and Road Initiative gets major boost as China and Myanmar ink 33 deals
NAY PYI TAW: China and Myanmar on Saturday inked 33 deals aimed at speeding up key infrastructure projects to provide Beijing a stepping stone to the Indian Ocean after a meeting between President Xi Jinping and State Counsellor Aung San Suu Kyi, as the Communist nation ramped up support to cement its hold over the Southeast Asian country under fire for its treatment of Rohingya Muslims. Holding talks with Xi on the final day of his two-day visit, Suu Kyi slammed the western countries for criticising Myanmar over the handling of the Rohingya issue. Over 7.3 lakh Rohingya Muslims fled to neighbouring Bangladesh alleging attacks by the Myanmar army, triggering a global refugee crisis. Xi and Suu Kyi signed 33 agreements, covering areas such as politics, trade, investment and people-to-people communications, shoring up mammoth projects that are part of the flagship Belt and Road Initiative (BRI), China's vision of new trade routes described as a "21st century silk road". Myanmar would … [Read more...] about China, Myanmar ink 33 deals to accelerate BRI as Xi, Suu Kyi meet despite Rohingya backlash