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These 5 Countries Will Dominate the Global Economy in 2030 ( Source- The National Interest / Author- Samuel Rines)

Bombay   Stock Exchange  ( Image credits- Wikimedia Commons / Elroy Serrao)  Source- The National Interest Author- Samuel Rines Will today’s five largest economies—China, the United States, India, Japan and Germany—maintain their places between now and 2030? Or will see a reshuffling? China has already passed the United States in terms of Purchasing Power Parity Gross Domestic Product (PPP GDP)—a method of measuring the relative purchasing power of a nation used throughout this piece. Granted, this is only one measure of wealth, and much of China remains poor, but it illustrates that measurement matters. By other measures, such as current dollar GDP, the United States is still the largest economy, and it is likely that U.S. economic dominance will continue. The United States has a few advantages in remaining a top economic power. Unlike China, the United States has already pivoted from manufacturing toward services, thereby reducing its reliance on exports for

Devaluation and Despair: Breaking Down China's Currency Dilemma ( Source- The National Interest / Author- Gordon C. Chang)

Source- Wikimedia Commons / Author- JesseW900 Source- The National Interest Author- Gordon G. Chang On Friday, the People’s Bank of China (PBOC), the Chinese central bank, reversed course and set the renminbi on an upward path. That followed three straight days of devaluation that shook global stock, currency, and commodity markets, sending them downward. Friday’s reversal looks responsible. Nonetheless, the PBOC’s actions last week show policy disarray in the Chinese capital. The net result is that Beijing rattled the world, ruined its reputation for stable management, and did almost nothing to help China’s faltering economy. The daily devaluations follow months of government statements that the central bank would keep the currency stable. Every trading morning, 15 minutes before the 9:30 opening bell, central bank officials announce the day’s reference rate against the U.S. dollar. The renminbi, informally known as the yuan, is then allowed to rise or fall 2

Why RCEP Is Vital for India ( Source- The Diplomat / Authors- Bipul Chatterjee & Surender Singh)

Jawaharlal Nehru Port Trust, Navi Mumbai ( Image credits- Wikimedia Commons/ Author- Jaxer) Source- The Diplomat Authors- Bipul Chatterjee & Surender Singh 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 Partnership (TPP), and the Trans-Atlantic Trade and Investment Partnership (TTIP). It is expected that these agreements, once concluded and implemented, will set the stage for a new generation of global trade and investment rules. From India’s point of view, the RCEP presents a decisive platform which could influence its strategic and economic status in the Asia-Pacific region and bring to fruition its “Act East Policy.” It is expected to be a

CHINESE MEDIA’S PERSPECTIVE OF G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS’ MEETING – ANALYSIS (SOURCE- EURASIA REVIEW, AUTHOR- NURZHANAT AMETBEK)

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 Ä°stanbul, 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

China, India To Lead World By 2050, Says PwC ( Source- The Diplomat/ Author- Anthony Fensom)

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

Can India Become the Next China? ( Source- The Diplomat, Author- Anthony Fensom)

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