Center for Culture & Global Studies🇦🇺🇧🇷🇩🇪🇮🇳🇯🇵🇺🇸: Global Economy

Showing posts with label Global Economy. Show all posts

Corona Virus and Global Economy

Credit: Bangkokpost.com

Kumiko Yurimoto

Department of Humanities and Culture,

Hoso Daigaku, Wakaba, Mihama-ku,

Chiba, Japan.

Can a virus cause economic slowdown? The answer is simply, yes. More than two dozens countries are affected by Corona virus which started spreading from Wuhan, China. Many multinational companies were forced to shut down or partly cut their operations across the globe. A Japanese food chain, ‘Izakaya’ has announced to shut all of its outlets in mainland China as only a few customers are turning to their restaurants. Hyundai, an other company in Korea has announced to curtails its productions. Philipines, Thailand and Indonesia are the other countries which are severely affected by this epidemic.

Tourism is most affected sector due to the Corona virus. Many tour operators have cancelled their bookings and several countries have suspended issuing Visa to Chinese citizens. Several flights are already restrained flying to China and businesses are hampered. The GDP growth for China has been predicted to be below 5% and a panic is emerging due to all this. It will pull down the global economy particularly nations dependent on Chinese economy will be affected the most, including Japan.

The prices of masks in Tokyo have surged many fold and out of stock in the city. Even the online stores are not able to meet the supply. Several cities in China are are facing self lockdown and economic activities are not happening at all due to the fear. “Coronavirus will have a larger negative effect on the global economy than the SARS outbreak in 2003,” IHS Markit wrote, adding that China accounted for 4.2% of the global economy in 2003. The report says China now commands 16.3% of the world’s GDP. “Therefore, any slowdown in the Chinese economy sends not ripples but waves across the globe”, cites CNBC.

As number of deaths have crossed more than one thousand in China mainland, the panic is spreading among business communities. The sales of Nissan motors dropped to around 18% in China. This is a clear sign of the impact of the virus on economy. Similar impacts can easily be found in neighboring countries like Philippines, Singapore, Thailand, Malaysia and Japan too. A Japanese taxi driver in 80s died recently and number of infected persons in Cruise ship Diamond Princess is gradually increasing. If it will spread further the Japanese economy may be shaken. Though there is no direct threat to forthcoming Olympic games but if the outbreak continues it will pose a potential threat to organize the games.

The Corona virus outbreak has burdened the global economy and hampered the business movement severely. China being an economic giant affecting the global businesses. Many companies, particularly in aviation sector and tourism are the most hit. The Guardian has reported that, Ikea has closed all of its 30 stores in China, while McDonalds shut about 300 restaurants, 10% of its network in the country, and Starbucks has shut about half of its 4,100 cafes. This just a tip of the iceberg. As there is no effective control to spread the virus, the future of global economy is still in limbo.

G-20 SUMMIT AT OSAKA: ACHIEVEMENTS, EVALUATION AND FUTURE ACTIONS

Credit: g20.org

Laura Frank

Research Associate, CCGS

Berlin Chair

E-mail: Info@globalculturz.org

G-20 is a group of twenty powerful nations of the globe, which also includes European Union. In 1999 the group was founded with the aim to promote the international financial stability and a few other issues. Economic cooperation was the key agenda behind its establishment. Its consists of Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Spain is a permanent invitee.

Since then G20 leaders have met thirteen times at different global venues and the summit held in Osaka (Japan) on 28-29 June 2019 was the fourteenth one. The economists have raised the doubts of its achievements and its relevance too. The G20 leaders are divided on several issues and the global character of the G20 is severally hampered in new emerging situations globally. China’s Belt and Road Initiative (BRI), US=China Trade tussles, Japan-Korea cultural relations, US-Russia tensions and many other regional issues are more dominant over the global goals. In that case G20 summits just become a mere ceremonial meet without a concrete purpose.

Eight themes were put forth for discussion in Osaka. These were (i) Global Economy, (ii) Trade and Investment, (iii)Innovation, (iv) Environment and Energy, (v) Employment, (vi) Women’s empowerment, (vii) Development and (viii) Health. These were important issues before the global leaders to ensure the global sustainable development. Whereas the US has already moved out of Paris climate accord and has faced criticism, it was expected that there will be hardly any progress to control global warming. The worries expressed by Japanese PM Shinzo Abe through the press release is quite obvious, ‘The world economy still faces downside risks due to trade tensions. The G20 shared the determination to take further actions and lead strong economic growth while paying attention to such circumstances.’TheUS-China trade war is, as experts say, is not going to settle till Mr. Trump is in office. Chinese BRI project is boycotted by India, the most accelerating economy of the world. BREXIT has created a big trouble for European Union and Germany is passing through a phase of sluggish growth.

The preamble of the summit declaration suggests that there is a will to get united and make the world a prosperous, terror free, energy secured, gender justice and healthy place for every human individual. It says, 1. We, the Leaders of the G20, met in Osaka, Japan on 28-29 June 2019 to make united efforts to address major global economic challenges. We will work together to foster global economic growth, while harnessing the power of technological innovation, in particular digitalization, and its application for the benefit of all.

2. Building on work done by previous presidencies, we will strive to create a virtuous cycle of growth by addressing inequalities and realize a society where all individuals can make use of their full potential. We are resolved to build a society capable of seizing opportunities, and tackling economic, social and environmental challenges, presented today and in the future, including those of demographic change.

3. We will further lead efforts to foster development and address other global challenges to pave the way toward an inclusive and sustainable world, as envisioned in the 2030 Agenda for Sustainable Development’.

One journalist said at the venue, Honesty is prime, rest will follow.

For us, Center for Culture & Global Studies, it is satisfactory that there is special mention of promoting tourism and strengthening cultural diplomacy. The Declaration states in its article ’24. Tourism accounts for a significant share of the world's GDP and is expected to continue to be an important driver of global economic growth. We will work to maximize the sector's contribution to the creation of quality jobs and entrepreneurship, especially for women and youth and in the creative industry; economic resilience and recovery; the preservation of natural resources through sustainable tourism planning and management; and the achievement of inclusive and sustainable development’.

We appreciate such endeavors of G20 leaders.

The End of Globalism, Rise of Patriotism

Dr. Ram P Dwivedi

The University of Delhi, India

''We reject globalism and embrace patriotism, around the world responsible nations must resist the threats to sovereignty.''

-Donald Trump, UNGA 2018

The US President Donald Trump declared the end of globalism in his recent address at United Nations General Assembly (UNGA). It was the US, who, after the cold war, advocated actively for globalization and World Order. It is now obvious, that Americans want to backtrack the path created by them only. In the same speech, President Trump also made harsh remarks on World Trade Organization (WTO) and insisted upon bilateral ties among nations. The US doesn’t want to play a role of global leader, as it is no more a cost-effective phenomenon. Mr. Trump is very much clear in his vision to focus on ‘America First’ policy and he treats foes and friends equally on this matter. He is demanding more money from Japan and Korea to provide a security umbrella to them. At the same time, he indicated India and other nations not to buy crude oil from Iran. He said,

Mr. Trump was critical to China & Russia and praised Kim of the North. He advised all the nations to follow patriotism. His address to UNGA is a new turning point and an important issue to analyze for the academics, social scientist and political thinkers.

The emergence of digital media, live streaming, photo, and video editors have broken the gatekeepers and ensured easy, smooth and low cast flow of information and news. According to Edelman a large number of people, particularly in India and China, believe in news spread by various media.

China: 73%

India: 63%

Canada: 55%

US: 47%

Australia: 42%

UK: 36%

Turkey 23% {Media News trusted by common people}

Though the US and Australia are below 50%. Media is under severe pressure from the political parties and business corporations. The advertisers set the agenda for discussions in media channels and elsewhere. Even, Filter Bubble manages social media and echo communities are created. Overproduction of information has posed a threat to authentication. The lines between real and fake news have reached a hair difference. On one side Mr. Trump is advising all the nations to be patriotic at the same time he has expressed his anger and fear for China. He blamed China to interfere in America’s domestic affairs by the potential use of social network platforms. Mr. Trump’s apprehension is not completely baseless. In the last US presidential election, Russian intervention is under the radar of various investigative agencies. It simply implies that globalism cannot be reverted. It is a natural historical process of human civilization and Donald Trump very much know it. Then, why he is teaching a lesson of patriotism to the nations of the world. Obviously, he wants a better bargain for his citizens in terms of employment, lifestyle, trade balance and security. He no more wants America to play a role of World-lord at the cost of its citizens. This is a complete U-turn from the previous governments. The American aspiration to be a global leader is diminishing under the new regime.

Trump administration has already kept away Trans-Pacific Partnership (TPP), Paris Climate accord. His administration is also quitting from several other UN programs. Globalism was a brainchild of USA and with the turn of the century, it has become a burden on the economy. Though Trump wants to play a global role, but unwilling to pay for it. This dichotomy is reflected in his teachings of patriotism. The governments, which are unable to address the real issues of the society they ask their common folks to follow and propagate emotional paths. Social media has become an easy tool to inject these issues in the society by manipulation of facts, data, and information.

Opinion building and opinion control through the extensive use of social media is quite prevalent. Digitally manufactured reality is flowing freely globally. Governments across the world are trying to put barriers on culture and economy. It seems to fail drastically. Citizens at the global level have to understand that the time machine cannot be reverted. Globalism is a futuristic idea empowered with information and communication technologies. Patriotism wouldn’t work long and as it emerged in the gone era of modernism. In post-postmodernist time, lies and love will walk together with greater warmth. Commitments will keep changing and governments throughout the globe, to retain their power, continue to mislead their citizens. UNGA members present in the assembly, laughed when Trump said, ‘Today I want to share the extraordinary progress we made. In two years my administration has achieved more than any administration had achieved before in history.’ There were several contradictions too. He concluded, ‘Let us choose the future of patriotism, let us come here to stand for our people and for their nations, forever strong, sovereign, just, thankful for the grace and the glory of God, God bless the nations of the globe. ‘ I only can say, ‘ God bless you, Mr. Trump.’

China’s Debt Trap

Yoko Sakamoto

International Studies School

Meiji University, Tokyo, Japan

E-mail:info@globalculturz.org

OBOR (One Belt, One Road) Project or Belt and Road Initiative (BRI) are Chinese multi-layered economic aspiration to become a global power and challenge the American dominance-politically as well as economically. China is giving different types of loans to Asian and African countries for their infrastructure developmental projects. It has a very clear policy to encircle India, strategically, the biggest contender in the Asian region. China is funding Pakistan, Turkmenistan, Bangladesh, Sri Lanka and Myanmar heavily. Pakistan’s several infrastructural development projects are not yielding anything till now and the interest on loans given by China is increasing. If Pakistan fails to repay, there will more pressure on the Pak Government and it will lose its sovereignty. Sri Lanka, too, has failed to make repayments to Chinese debts and due to this reason; it has handed over its

Laura Frank

Center for Culture & Global Studies

Berlin

E-mail: info@globalculturz.org

Nuclear disarmament is the key issue to ensure world peace. Recently the US President, Trump pulled him out of the discussion with North Korean leader Kim Ju Un. The meeting was scheduled to be held in Singapore in mid-June, this year. Kim, at the same, announced that some nuclear facilities, located in the North, would be destroyed before the meeting. He did so. He also initiated to build a positive dialogue with South Korea. Now, the leaders and common people across both Koreas have developed good sentiments towards each other. North Korea, has armed herself with different types of nuclear weapons has a stronger atomic capability. The sanctions imposed by UNSC on North Korea from time to time have their limited impact, as China and Russia were not fully convinced with these measures. It is learned that China was not convinced with sanctions and supporting the North indirectly.

The countries equipped with nuclear arms are not willing to drop further enhancements. This dis-balance has created a big challenge for a nuclear-free world. North Korea, with it's two immediate and unfriendly neighbors-Japan & South Korea, is not at peace. These two countries, for their security, move ahead under the nuclear umbrella of the US. This causes the North, more unrest.

Iran, Syria, Israel, Palestine and North Korea are the so-called bone of contention for world peace. Disturbances in these areas are pulling back the world economy. Nuclear equipped countries have bigger responsibility to initiate the global peace process. Donald Trump should re-consider his decision. Dialogues and discussions are the only tools to march ahead on the path of peace and prosperity.

US-China Trade Tensions

Dylan Jack

Researcher

Center for Continuing Education

University of Sydney

Australia

Ph: 02-87276700

Email: info@globalculturz.org

Donald Trump, the US president has taken many decisions to protect US economy and trade. He declared to come out of the Trans-Pacific Partnership Program (TPP) within a week he came to power. Imposing different types of sanctions on neighboring Mexico, now he has moved ahead.

China is emerging as an aspirant country. Its aspirations are multidimensional but two of them are very prominent viz. to become global economic power and a military power as well. Xi administration is working on both fronts very promptly and there is hardly any internal opposition to that. During the years Xi has emerged a stronger leader within the communist party of China and now in a position to take aggressive decisions at national and international levels. His intense desire to develop China as a modern state has created a lot of trouble to the poor farmers, rural folks and, poor urban dwellers. There is no visible protest to it due to the personal image and position of Xi. He wants to translate this image at international forums too.

The trade tensions are going to increase between these two countries due to personality building project of Trump and Xi. Who is the global leader? This question is yet to be resolved by the international community. China is encircling India by funding several developmental projects in its neighborhood-Pakistan, Bangladesh and, Sri Lanka. In a recent move, it has tightened its grip on Maldives and Nepal. OBOR project also shows this ambition. India poses a big and substantial challenge to Chinese dream of becoming global economic and military power. With roughly 7% of annual GDP growth rate and second largest populated country in the world, India is one of the potential markets for the global investors. Further, it is creating stronger ties with the US and Japan to worry China. This is defining a new world order where China, Russia, North Korea, Iran and, Pakistan are coming on one side and US, Japan, Australia and, India on the other. The trade tensions are going to widen across these two lines.

India-Brazil-South Africa Dialogue

India-Brazil-South Africa Dialogue Forum - 8th IBSA Trilateral Ministerial Commission Meeting – 17 october 2017

Courtesy @ Copyrights: http://www.itamaraty.gov.br/en/ (Ministry of Foreign Affairs, Govt. of Brazil)

1. The Minister of International Relations and Cooperation of the Republic of South Africa H.E Ms Maite Nkoana-Mashabane, the Minister of State, Ministry of External Affairs of the Republic of India, H.E General (Dr.) V.K. Singh (Retd.) and the Minister of Foreign Affairs of the Federative Republic of Brazil, H.E Mr Aloysio Nunes Ferreira (hereinafter referred to as "the Ministers") met in Durban, South Africa on 17 October 2017 for the 8th IBSA Trilateral Ministerial Commission meeting.

2. The Ministers underscored the importance of the principles, norms and values underpinning the IBSA Dialogue Forum, including participatory democracy, respect for human rights, and the Rule of Law. In mapping out the strategic outlook of IBSA, the Ministers reiterated the need for IBSA to leverage its strengths and unique identity as a grouping of the Global South, bringing together three large pluralistic, multi-cultural and multi-racial societies from three continents.

3. In the context of today’s dynamic global order, the Ministers underscored the strategic significance of IBSA in safeguarding and advancing the interests of the South on the global stage. They stressed the importance of multilateralism and the need to reform global governance structures in order to make them more inclusive, democratic, representative, transparent and responsive to the needs of the South.

4. The Ministers noted that the year 2017, in particular, is significant to the global governance reform agenda, with the 72nd Anniversary of the UN providing a timely opportunity for the global community to adopt a concrete programme that will guide us towards a strengthened UN and a reformed Security Council. The Ministers further noted that key milestones towards a peaceful and better world could be achieved through the successful conclusion and implementation of the outcomes of the UN 2030 Agenda for Sustainable Development.

5. The Ministers emphasized the growing importance of South-South cooperation. In this context, they recognized that the IBSA Fund for Alleviation of Poverty and Hunger plays an important role through the sharing of developmental experience by IBSA countries. This contributes to inclusive and sustainable development for the empowerment of the peoples from developing countries.

Global issues

Cooperation in Multilateral Organisations

6. The Ministers agreed on closer coordination and cooperation among IBSA countries in various multilateral fora including the UN, WTO, WIPO and G20.

United Nations Reform and Security Council Reform

7. The Ministers reaffirmed their commitment to safeguarding the purposes and principles of the Charter of the United Nations as well as a fair and just international order, upholding the basic norms of international law such as equal sovereignty and non-interference in other countries' internal affairs, promoting greater democracy and rule of law in international relations, building an inclusive global community through mutually beneficial cooperation.

8. The Ministers underscored the urgent need for a comprehensive reform of the global institutions of political and economic governance. They emphasized that no reform of the United Nations will be complete without a reform of the UN Security Council (UNSC), including an expansion in the permanent and non-permanent categories of its membership, with enhanced participation of developing countries therein, in order to better reflect present day realities and to make it representative, legitimate, efficient and effective. In this context, the need for greater progress in the UN General Assembly intergovernmental negotiations was identified as critical to promote the impetus necessary to achieve change. Therefore, the Ministers expressed their conviction that the time is opportune to move to the next phase and initiate text-based negotiations during the 72nd session of the General Assembly, which marks the 10th year of the IGN and the 25th year of consistent debate and consideration of this issue by the General Assembly. The Ministers agreed to cooperate and coordinate closely in order to achieve tangible results during the 72nd session of the General Assembly.

9. The Ministers recommitted their strong support to multilateralism and the central role of United Nations in international affairs. They committed to strengthening the coordination and cooperation among IBSA in the areas of mutual and common interest within the United Nations and other multilateral institutions, including through regular meetings among their permanent representatives in New York, Geneva and Vienna and further enhance the voice of IBSA in international fora.

Sustainable Development Goals (SDGs)

10. The Ministers underscored the importance of the full implementation of the 2030 Agenda for Sustainable Development. They highlighted the need to strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development. They urged the developed countries to fully honour their Official Development Assistance (ODA) commitments. The Ministers reiterated their support for a more balanced and inclusive economic globalisation, reject protectionism, and renew their commitment to the promotion of global trade, investment and productivity which is conducive to an equitable, inclusive, innovative, invigorated and interconnected world economy.

11. The Ministers also emphasized that it remains imperative to address the historical and current injustices that have fuelled poverty, inequality and under-development, especially through external support in providing the necessary means of implementation, such as finance, technology transfer and capacity building. The Ministers further acknowledged that the full implementation of the Sustainable Development Goals should eradicate poverty in all its forms and dimensions, including extreme poverty, which is the greatest global challenge and an indispensable requirement for sustainable development.

Climate Change

12. The Ministers welcomed the entry into force, on 4 November 2016, of the Paris Agreement adopted under the United Nations Framework Convention on Climate Change (UNFCCC) and urged all countries to work together for the fair implementation of the Paris Agreement based on the principles of the UNFCCC including the principles of equity and common but differentiated responsibilities and respective capabilities. They called upon developed countries to fulfill their commitment to provide necessary (means of implementation) financing, technology transfer and capacity building support to developing countries. They further called for maintaining focus on implementation of existing commitments by developed countries in the pre-2020 period, including the ratification of the Doha Amendment to the Kyoto Protocol.

International Terrorism

13. The Ministers deplored the continued terrorist attacks across the world. They condemned terrorism in all its forms and manifestations wherever committed and by whomsoever. They concurred that terrorism is a global scourge that must be fought and terrorist safe havens eliminated in every part of the world. They reaffirmed their solidarity and resolve in the fight against terrorism. They called upon the international community to establish a genuinely broad international counter-terrorism coalition in accordance with the principles of international law and support the United Nations' central coordinating role in international counter-terrorism cooperation. They recalled the responsibility of all States to prevent and counter terrorism, including the financing of terrorist networks and terrorist actions from their territories. The Ministers welcomed the signing of the adoption of the Comprehensive Convention on International Terrorism in the UN General Assembly.

14. The Ministers expressed concern on the security situation and extreme violence caused by the Taliban, ISIL/DAISH, Al-Qaida and its affiliates including, Islamic Movement of Uzbekistan, the Haqqani network, Lashkar-e-Taiba, Jaish-e-Mohammad, and TTP.

Human Rights

15. The Ministers reiterated the need for all countries to cooperate in promoting and protecting human rights and fundamental freedoms under the principles of equality and mutual respect. They agreed to continue to treat all human rights, including the right to development, in a fair and equal manner with the same emphasis. They agreed to strengthen cooperation on issues of common interests both within IBSA and in multilateral fora including the United Nations Human Rights Council, taking into account the necessity to promote, protect and fulfil human rights in a non-selective, non-politicized and constructive manner, and without double standards.

Financing for Development

16. The Ministers welcomed the outcomes of the second ECOSOC Forum on Financing for Development (FfD) follow-up that was held at the United Nations Headquarters in New York in May 2017. It was reiterated that FfD is the key to the implementation of the 2030 Agenda for Sustainable Development. In this context, the Ministers reaffirmed that assured and predicable financial flow is indispensable to the realization of sustainable development, particularly by developing countries, and further that the ultimate eradication of poverty must remain the overarching objective of FfD. It is of utmost importance that IBSA member states continue to work together to ensure the speedy implementation of all six action areas of the Addis Ababa Action Agenda as well as the outcomes of the Monterey and Doha International Conferences on FfD.

G20

17. The Ministers welcomed the G20's continued role as the premier forum for international economic cooperation, and reiterated the need for the full implementation of previous G20 summits outcomes and development commitments, including the Hamburg Summit and the Hangzhou Summit, to achieve strong, sustainable, balanced and inclusive growth, and further to enhance macroeconomic policy coordination to minimize negative spill-overs and external shocks to Emerging Market Developing Economies (EMDEs). It was agreed that IBSA member states should enhance coordination and cooperation under the Presidency of Argentina in 2018, with an aim to make the G20 process and outcomes reflect the interests and priorities of EMDEs.

IBSA Fund for the Alleviation of Poverty and Hunger

18. The Ministers reaffirmed the continued importance of South-South Cooperation and its principles of developing country solidarity and partnership. In this context, The Ministers commended the IBSA Fund for the Alleviation of Poverty and Hunger as the flagship and sole visible operational program of IBSA, upon the advent of its 10th year anniversary. In this regard, the Ministers noted that the IBSA Fund for the Alleviation of Poverty and Hunger continues to lead by example in demonstrating the relevance and vitality of South-South cooperation through the successful implementation of development projects in developing countries. The Ministers agreed that the Fund plays an important role in promoting inclusive and sustainable growth and the empowerment of the peoples in developing countries that have benefited from its projects. The Ministers expressed satisfaction on the signing of the Agreement on the IBSA Fund for the Alleviation of Poverty and Hunger.

19. The Ministers expressed their appreciation for the work done by the United Nations Office for South-South Cooperation in the UNDP, in administering the IBSA Fund for the Alleviation of Poverty and Hunger.

Regional Issues

African Union

20. The Ministers commended the efforts of countries of the African continent, the African Union and sub-regional organizations in addressing regional issues and maintaining regional peace and security, and emphasized the importance of collaboration between the United Nations and the African Union in accordance with the Charter of the United Nations. IBSA supports efforts towards comprehensively resolving conflict on the continent.

Middle East

Middle East Peace Process

21. The IBSA Ministers supported international efforts aimed at the establishment of a viable Palestinian state, existing side by side in peace with Israel within internationally recognized borders, based on those existing on 4 June 1967. The Ministers reiterated the need for a just, lasting and comprehensive settlement of the Israeli-Palestinian conflict in order to achieve peace and stability in the Middle East.

Syria

22. The Ministers reiterated that the only lasting solution to the Syria crisis is an inclusive "Syrian-led, Syrian-owned" political process which safeguard the state sovereignty, independence and territorial integrity of Syria, in pursuance of the United Nations Security Council Resolution 2254 (2015). The Ministers strongly support the Geneva Peace Talks and the Astana process, and welcome the creation of the de-escalation areas in Syria. The Ministers oppose the use of chemical weapons by anyone, for any purpose and under any circumstance.

Iraq, Yemen and Diplomatic Crisis in the Gulf

23. The Ministers congratulated the people and Government of Iraq for the recovery of Mosul and for the progress achieved in the fight against terrorism and reaffirmed their commitment to Iraq's sovereignty, territorial integrity and political independence and their support for the Iraqi government and its people. The Ministers expressed concern over the situation in Yemen and urged all parties to cease hostilities and to resume negotiations supported by the United Nations. The Ministers called on all parties directly involved in the current diplomatic crisis in the Gulf region to overcome their differences through dialogue and welcomed Kuwait’s mediation in this regard.

Iran

24. The Ministers firmly supported the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear issue and called upon all relevant parties to comply fully with their obligations and ensure full and effective implementation of the JCPOA to promote international and regional peace and stability.

Asia

Afghanistan

25. The Ministers strongly condemned continued terrorist attacks resulting in death of innocent Afghan nationals. There is a need for immediate cessation of violence. The Ministers reaffirmed their support to the people of Afghanistan in their efforts to achieve "Afghan-led and Afghan-owned" peace and national reconciliation, to the ongoing international efforts, including all international efforts for promoting peace, stability and prosperity in Afghanistan and "Heart of Asia-Istanbul Process", as well as multimodal connectivity projects to promote peace and stability, to the fight against terrorism and drug-threat, and to the national reconstruction efforts by Afghanistan. The Ministers supported the efforts of the Afghan National Defence and Security Forces in fighting terrorist organizations.

North Korea

26. The Ministers strongly condemned the nuclear and missile tests conducted by the DPRK. The Ministers expressed deep concern over the ongoing tension and prolonged nuclear issue on the Korean Peninsula, and called on all relevant parties to respect the United Nations Security Council resolutions and to exercise restraint, work to stabilize the situation through concrete actions and solve the nuclear issue through dialogue and consultation.

IBSA Sector Cooperation

27. The Ministers agreed to the proposal of streamlining and clustering IBSA Working Groups in alignment with the UN 2030 Development Goals along its social, economic and environmental pillars.

28. The Ministers also agreed that the Joint Working Group on Defence will continue with its work including the convening of IBSA MAR in 2018. They also agreed to explore the possibility of IBSA Coast Guard cooperation.

29. The Ministers agreed to the creation of a Working Group on the Blue Economy and they agreed to the convening of its first meeting in 2018.
Concluding Remarks

30. The Ministers of India and Brazil thanked the Minister of International Relations and Cooperation of South Africa for hosting the IBSA Trilateral Ministerial Commission Meeting and the warm reception extended to their delegations.

31. The Ministers of India and South Africa accepted with appreciation the Brazilian proposal to host the 9th IBSA Trilateral Ministerial Commission meeting at a mutually convenient time.

32. The Ministers expressed their full support to India with its preparations to host the 6th IBSA Summit in New Delhi in 2018.

OBOR: The Alternative Strategy for Japan and India

Yoko Sakamoto

International Studies Schoool

Meiji University, Tokyo Japan

E-mail: info@globalculturz.org

China has rolled out ‘The Project of Millennium’ under the name of One Belt One Road (OBOR). It will benefit China economically and enhance its control in the Asian region. Whereas ‘America First’ policy under Trump administration has pressurized US trade allies to explore alternative ways, most of the nations are looking towards China to take the leadership. Chinese President Xi-Jinping, on various world forums, has indicated too, to take the global leadership in business and trades. Though Japan ‘loosely’ participated in the OBOR summit held in Beijing, last month, India showed a big courage to boycott the same completely on the grounds of its national security and integrity.

Dr. Guljit K. Arora

Principal, Bimrao Ambedkar College, University of Delhi, India

E-mail: info@brambedkarcollege.org

India is well acknowledged as an ancient civilization with its historical contribution to the world knowledge, learning and innovation.Its hard camed independence achieved in 1947 was followed by an economic resurgence characterized by an annual rate of growth rate of (around 8 per cent) in real GNP since 1991. It is well appreciated in the world geopolitics and economy. With about 1.3 billion people constituting around 17.5 per cent or world population, out or which about 2/3 .. d being in the working age, India has the potential to be the future human resource

The modem India, has come a long way in raising levels of its socio-economic development level and is further equipped and has the potential to provide an innovative effective solution to its socio-economic problems. However, India 's welfare improvement is modest and accompanied by worsening or inequality. It cannot ignore the harsh realities of its Bharat. The globalised induced economic reforms have not stimulated the manufacturing share in GOP beyond 16 per cent and employment beyond 12 per cent for the last 40 years or So. It also compares poorly with Indonesia, Malaysia and Thailand.

Brazil and India are developing new economic and cultural ties through BRICS. The following document (Portuguese) reflects the future path of this vision.

Comunicado Conjunto Brasil-Índia

1. O presidente da República Federativa do Brasil, Michel Temer, realizou visita à República da Índia, em 17 de outubro de 2016, a convite do primeiro-ministro da Índia, Narendra Modi. O presidente Temer foi acompanhado pelo ministro das Relações Exteriores, José Serra, pelo ministro da Agricultura, Pecuária e Abastecimento, Blairo Maggi, pelo ministro do Desenvolvimento, Indústria e Comércio Exterior, Marcos Pereira, e por extensas delegações oficial e empresarial.

2. O diálogo entre Brasil e Índia em 17 de outubro de 2016, em Goa, foi mantido em atmosfera calorosa, cordial e amistosa. Inicialmente, o primeiro-ministro Modi felicitou o Brasil pela organização exitosa dos Jogos Olímpicos Rio 2016. O presidente Temer cumprimentou o primeiro-ministro Modi por suas iniciativas e realizações nos últimos dois anos. A Parceria Estratégica bilateral, iniciada há uma década, inaugurou nova fase nas relações Brasil-Índia, baseada em uma visão global comum; no compartilhamento de valores democráticos; e no compromisso de promover o crescimento econômico com inclusão social, com vistas ao bem-estar dos povos de ambos os países.

3. Os dois líderes mantiveram discussões abrangentes sobre temas bilaterais, regionais e multilaterais de interesse mútuo e chegaram a consenso amplo, com o objetivo comum de trabalhar em estreita coordenação pelo fortalecimento da parceria estratégica e para conferir-lhe renovado impulso. As discussões viabilizaram melhor compreensão e apreço dos respectivos interesses e perspectivas e ajudaram a estabelecer melhor entendimento no mais alto nível político.

Hitomi Takahashi

Tokyo University of Agriculture & Technology

Harumicho, Fuchu, Tokyo

Japan

The recent typhoons in Haiti, US and Japan remind the might and anger of nature.With the growth in human population, there is a pressure on natural resources like forests, rivers, and agricultural land. Though Japan is an exception and its population is shrinking despite governmental efforts and encouragements.