Germany’s core strategic interests are at variance with that of the United States. The alliance between the two major transatlantic powers is under severe stress. The war in Ukraine has added an undue burden on the German economy, which is likely to lead to inflation, recession and social unrest. Germany, an emerging hard power, does not intend to let inflation, recession and social unrest derail it from the path of pursuing its foreign policy objectives. In the coming decades, Germany is not likely to sacrifice its economic interests at the altar of liberal international order and this is likely to pose a bigger challenge to German–American ties in the long run.
With EU–India clinching a post-Brexit trade negotiation, the present paper proposes to examine whether the free trade agreement between the two regions would increase production efficiency and thereby social welfare. Using the partial equilibrium model, the study reveals that the EU–India FTA yields less positive trade and welfare gains in India after Brexit specifically, for consumer, industrial, and capital goods, whereas it would still be in India’s interest towards the specific benign impact of an FTA in raw materials, intermediate goods, and agricultural goods. From the policy perspective, India is not well-served by its pursuit of protectionist agenda and instead should push for trade liberalisation as a better path for the global trading system.
The United Kingdom’s withdrawal from the European Union is indicative of not only its own narrow self-perception but also of the rise of an anti-immigration and racist stance put forth by right-wing groups. */ */
The recent decision of the United States to impose punitive tariffs on imports from China and the European Union, and the retaliation of these trade partners in tandem, is of concern to the global community. In analysing these contemporary events, it is argued that the genesis of the trade war can potentially be traced to the piling up of global imbalances, and the failure of the global financial institutions or fora—like the World Trade Organization and the International Monetary Fund—to address such imbalances. In such a context, whether the emerging economies have the ability to influence the course and outcomes of the current trade war, and whether this trade war can generate the possibility of reform of the international institutions are explored here.
The European Union has faced crisis after crisis in recent years. First it was the sovereign debt crisis, followed by bankruptcy and bailout measures of various sovereign states. Now the continent is reeling under an immigration and refugee crisis. The impending Brexit process and the recent rise of far-right nationalist parties are certainly reflective of theEU’s fundamental constitutional weakness and democratic deficit.
Brexit is a Conservative Party policy-idea that got out of hand. The collapse of the centrist and liberal Tory leadership created a vacuum for hardliners within the party, in the right-wing media, and in other smaller parties to occupy that space, and call for the reinvigoration of British exceptionalism through Brexit. Unfortunately, a political and constitutional crisis besets the United Kingdom, reducing the reality of British exceptionalism to Little England isolationism.
Abhijit Sarkar makes two claims in "Spoils of Brexit for India" (EPW, 13 August 2016): British voters ignored the interests of non-British Commonwealth residents in the European Union referendum, and that the outcome of the referendum will benefit India. The second claim is questionable, and is based on little evidence. The first, meanwhile, relies upon unsubstantiated assertions and unscientific experimentation, but nevertheless raises interesting questions about legitimate democratic participation.
Monsanto is known to throw tantrums when it does not get the kind of protection it wants from governments for its intellectual property assets, threatening to leave countries if they do not provide it. This has happened in Argentina and now in India. These may look like country-specific disputes on genetically modified seed technologies, but there is much more than what meets the eye.
The Lehman moment is the moment when Lehman Brothers—one of the largest investment banks in the United States (US) at the time—collapsed. The collapse happened on 15 September 2008.
An overview of the actors and issues involved in the debate over the relation of the United Kingdom with the European Union in the run-up to the referendum in June to decide whether it should exit the latter.
WTO negotiations so far have shown that when countries forge alliances they can generate synergies and become powerful players. The EU, Cairns Group and the African bloc have emerged as influential groups within the WTO. Several factors have stalled the evolution of a common position among south Asian countries: regional politics and antipathies, the economic disparity in the region, and the temptation for individual countries to draw up independent arrangements with developed countries in return for trade favours often detrimental to regional interests. Will south Asian countries function with a common agenda at Cancun?
