Favouring a 'new Bretton Woods Agreement', International Monetary Fund chief Dominque Strauss-Kahn has said an early warning system to detect impending dangers to the world economy must be put together by international financial expertise.
It is time to shrug off the ideological shackles about the way we work, play and live, says Ajit Balakrishnan.
Devangshu Datta predicts the good, the bad and the ugly of currency trends for the coming year.
India will have the presidency of the BRICS' $100 billion New Development Bank for six years with headquarters in China that will become operational in about two years, a major step for reshaping the international financial system dominated by the West.
The Wuhan meetings signify an incremental shift in China's position on India as well as each country buying time for the next phase of bilateral relations, says Srikanth Kondapalli.
'An isolationist US and a disintegrating European Union will create a power vacuum that only China is in a position to fill -- a conclusion that is uncomfortable but unavoidable,' says Nitin Desai.
'While China expressed reservations on the Indian role in the South China Sea, Beijing threw to the winds Indian concerns on Kashmir by announcing $46 billion in investments Pakistan occupied Kashmir,' says Srikanth Kondapalli.
The WTO toolkit provides various instruments to deal with such situations - anti-dumping duties, countervailing duties and safeguard measures.
'To consider BRICS anything more than a temporary club with some common interests would be folly. The goal should be to induce others (Japan, ASEAN, South Africa) to align with us -- a non-threatening, democratic nation, rather than with malevolent China or waning America. For us to consider aligning with either China or the US would be absurd. India is just too big to be a sidekick,' says Rajeev Srinivasan.
'This novel format of diplomacy -- the informal summit -- will not only facilitate bilateral communication and reduce miscalculations at the very top level of the two governments, but possibly open the space for China and India to speak in one voice on various issues of mutual concern,' note Feng Renjie and Ding Kun Lei
With Beijing having had a profound rethink on India's admission as a full member of the Shanghai Cooperation Organisation, the tectonic plates of the geopolitics of a massive swathe of the planet stretching from the Asia-Pacific to West Asia are dramatically shifting. That grating noise in the Central Asian steppes will be heard far and wide -- as far as North America, says Ambassador M K Bhadrakumar.
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