Manoj Ambat's Blog dealing with Defence, Foreign Affairs, Strategic Affairs and Politics

Image credits- Wikimedia Commons / Various Authors Source- The Eurasia Review Author- Nurzhanat Ametbek Turkey hosted the G20 finance ministers and central bank governors for the first time since it assumed the rotating presidency of the elite global club. Officials gathered in İstanbul, Turkey from February 9-10 to discuss solutions to the debt crisis in Greece and ways to push forward faltering global growth. The meeting of the G20 finance ministers and central bank governors coincides with a time of global economic suffering and hardship that is characterized by uneven growth of the major economies, monetary policy differentiation, and the Greek question in Europe. During the meeting, G20 members tried to come up with a coordinated plan to reverse the current downturn of the global economy, pledging to continue to take action to boost economic growth. Nonetheless, the G20 members still hold divergent opinions on various issues including what kind of policy tools ar

Mumbai Skyline ( Image credits- Wikimedia Commons/ Author- Jeet221990) Source- The Diplomat Author- Anthony Fensom Asia’s rise to global economic pre-eminence could see China and India leading the world by 2050, with Southeast Asia also making gains, according to PwC. However, Japan, South Korea and Australia are seen slipping down the world rankings without major reforms. The projections came in the consultancy’s latest “World in 2050” report, which provides growth forecasts for 32 of the world’s largest economies, accounting for around 84 percent of global gross domestic product (GDP), based on purchasing power parity (PPP). According to PwC, China is already the world’s biggest economy in PPP terms and will become the biggest at the more commonly accepted figures of market exchange rates by 2028, despite its projected reversion to the global growth average. China’s share of world GDP in PPP terms is forecast to increase from 16.5 percent in 2014 to a peak of ar

"Make in India" is the new initiative by the Government of India to indigenously develop the products in India rather than import and rely on foreign vendors. India relies on foreign products and services to drive it's massive economic growth. WHAT IS "MAKE IN INDIA" India after independence had closed it's economy to foreign investors and opted for public undertakings to build it's industrial base. A take from the socialistic era, the early planners wanted the Indian economy be driven by the public sector, but the private sector was allowed to continue, but was severely hampered by the so called "license raj" which saw a lot of bureaucratic impediments and red tapism.  Massive industries were set up in the public sector in areas ranging from steal to locomotives, sugar and aeroplanes. They formed the base for building a strong industrial infrastructure which saw the break from buying everything from tooth brush to nails from a

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Image credits- Flickr / MEA Official Image Source- The National Interest Author- Gordon G. Chang President and Mrs. Obama are now on their way to what may be the world’s most important city at mid-century. Are they going to Beijing? No, they will be traveling to New Delhi. The trip is historic. For the first time, an American leader will attend Republic Day celebrations in the Indian capital, and Obama will be the first U.S. president to visit India twice while in office. Moreover, this is the first time, in recent memory, that a White House occupant has taken a long-distance flight to just one destination. The trip has just about everything. The president and Prime Minister Narendra Modi will conduct wide-ranging discussions on, among other topics, climate change, education, nuclear power, Pakistan, Afghanistan, and Iran. There will also be pomp aplenty. India’s January 26 events, commemorating the adoption of the Indian constitution, are among the world’s mo

Image credits- Wikimedia Commons/ Author- Pp391 Source- The Diplomat Author- Mohamed Zeeshan Plummeting global oil prices have generated much discussion over the past few weeks. Oil is an important driver of global geopolitics: Washington hopes sanctions on Moscow’s oil-dependent economy will help the West get its way in Ukraine. In the Middle East, a good part of the battle against the Islamic State revolves around the amount of oil under its control. A few thousand miles away, the South China Sea simmers over oil as much as it does over maritime control. The Organization of Petroleum-Exporting Countries (OPEC) last month voted not to cut output, which suggests that the price free-fall has probably just begun. That’s bad news for oil-dependent economies around the world, from Russia to Algeria. Venezuela’s Foreign Minister Rafael Ramirez, for one, glumly accepted OPEC’s decision as a collective one, after his bid to cut oil output by as much as 2 million barrels per

BRICS heads of State ( Image credits- Flickr/ The Presidency of South Africa) Source- The Diplomat Author- Anthony Fensom China’s citizens may have celebrated “ APEC blue ” skies at the recent Beijing summit. But amid the nation’s recent diplomatic triumphs, analysts suggest China could still be eclipsed by India as Beijing confronts growing environmental and structural challenges. Speaking at Brisbane’s recent G20 Leaders’ Summit, China’s Finance Minister Zhu Guangyao said the world’s second-biggest economy was undergoing “a period of pain” as it tackled structural problems threatening its growth targets. “We do have problems that have been accumulated over time…the first is the overcapacity of our economy, second is the problem of shadow banking, and the third main problem is debt accumulated over time by local Chinese governments,” he said. Zhu said the world economy “faces greater downward risks,” with the Chinese economy also adjusting to a “new normal” of slow