Mega regional trade deals are in vogue in an otherwise fragile global economy. In an environment of falling aggregate demand, these trade deals are seen as a means to insulate economies from market uncertainties. Three important mega regionals are currently under negotiation: the Regional Comprehensive Economic Partnership of Asia and the Pacific (RCEP), the Trans-Pacific […]
Increasing Global Competition
China Integrates the African Continent
Declaring it “the most substantive project the AU has ever signed with a partner,” Nkosazana Dlamini-Zuma, chairperson of the African Union Commission, praised China late last month for agreeing to help the African continent knit its disparate infrastructure together. A memorandum of understanding signed by Zuma and China’s Vice Foreign Minister Zhang Ming in Addis […]
Why the U.S. Should Aim for Bigger Economic Plans with India
Over the weekend, President Barack Obama and Indian Prime Minister Narendra Modi turned a corner for the United States and India. The two leaders resolved issues in a long-stalled nuclear deal that for years kept U.S. nuclear power companies from doing business in India. Modi also hailed economics as “vital for the success of our […]
Recolonizing Africa: A Modern Chinese Story?
China, one of the world’s largest ’emerging’ investors, is ramping up investment in Sub Saharan Africa as it searches for natural resources, but whether the benefits are mutually beneficial is questionable. China’s economic growth has been a key narrative in the story of economic miracle over the past two decades. (Its foreign direct investment) FDI […]
China, the G20 and Global Economic Governance
The G20 may no longer be under Australia’s custodianship, but the show still rolls on. The leaders’ forum will head to Turkey in 2015, and in his final act as G20 chair for 2014, the Australian Prime Minister Tony Abbott confirmed 2016 will see leaders’ heading for China. The announcement is timely, although the G20 […]
How China is Reshaping Global Development Finance
Over the past couple of months, China has played a major role in launching initiatives to increase infrastructure financing for developing countries. In July 2014, China, together with the other BRICS nations – Brazil, Russia, India and South Africa – agreed to create a new development bank (NDB) that would have initial capital of 50 […]
BRICS Discuss Ratification of New Bank, $100 bn CRA
Leaders of the five BRICS nations have met in Brisbane on Saturday ahead of the annual G20 Summit, aimed at boosting trade and economic ties between the group. The leaders, including Chinese President Xi Jinping, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, South African President Jacob Zuma and Brazilian President Dilma Rousseff discussed […]