IMF and WTO 16 Dec 2017 by Tojo Jose

Buenos Aires: WTO enters the Trump era

Buenos Aires: WTO enters the Trump era

The WTO’s Buenos Aires has shown the world how trade will look in the twenty-first century. Divided and self-looking, countries may not go further and even may go backward from the position that we were in the close of the last century. Once again, the organization was proved to be a coalition of conflicting interests. All that is because of the advent of economic nationalism. At Buenos Aires, WTO has become just characteristic. The institution has not made a notable trade reform in the last twenty-two years ie., ever since its inception. But what is remarkable about Buenos Aires was the reflection of blooming protectionism in the West, guarded and promoted by Donald Trump.

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IMF and WTO 12 Dec 2017 by Tojo Jose

India demands permissible food subsidy outside the deminimus

India demands permissible food subsidy outside the deminimus

Seeking a permanent solution to the food subsidy issue, Commerce Minister Suresh Prabu demanded granting of food subsidy outside the 10% deminimus allocated for developing countries. In his speech at the Plenary session of the 11th WTO Ministerial Conference at Buenos Aires, the Minister pointed out that millions of impoverished Indian people depend on subsidy. The MC is expected to come out with a final settlement of the food subsidy issue. India demand WTO to give a permanent solution to the public stockholding of food grains issue in this MC. At present, a peace clause is granted to India that allows the country to proceed with the MSP subsidy till the current MC. A viable sol

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IMF and WTO 08 Dec 2017 by Tojo Jose

India get readies for Buenos Aires

India get readies for Buenos Aires

When the WTO makes its eleventh Ministerial Conference (MC) at the Argentinian city of Buenos Aires, between 10 to 13 December 2017, India- being a leading negotiator at previous MCs, has some leading issues to engage with. First and foremost is availing a final solution to the issue of Public Stock holding of food grains for food security purposes. The country is seeking permissible status to such food subsidies. Indications are that other WTO members may not put big resistance while forming a rule based support to food security oriented procurement. Second one is the new and emerging topic of e-commerce. It is for the first time that e-commerce is introduced for discussions

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IMF and WTO 25 Nov 2017 by Tojo Jose

India eager to get an outcome on food security at Buenos Aires

India eager to get an outcome on food security at Buenos Aires

As the WTO members are finalising a work programme for the upcoming Buenos Aires Ministerial Meeting, India is expecting a final decision on food security front. The WTO is expected to take a final position on public procurement of food materials to fight poverty in this Ministerial Conference. At the Bali MC, India was given a temporary window for four years to get a final provision and that period will be coming to an end at Buenos Aires. So far, indications are that WTO members are coming into terms with India’s demand. The vociferous G 33 including India, Indonesia and China is firm on its demand to consider member countries’ right to procure food materials for sup

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China & East Asia 14 Aug 2017 by Tojo Jose

Trump preparing action against China on forced technological transfers

Trump preparing action against China on forced technological transfers

US President Trump is going to expected to announce his first trade action against China on violation of US Intellectual Property Rights. Various media reports indicate that Trump directed US Trade Representative Robert Lghtthizer to recommend retaliatory measures against China’s violation of the US Trade Act. Trump, known for his economic nationalism, attacked China throughout his campaign for causing big trade deficit for the US economy. But even several months after he took over the charge of administration, Trump has not made a significant step to curtail China. Experts interpret that he was waiting to unearth a credible point to whip China without causing much di

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Global Economy 09 Jul 2017 by Tojo Jose

G2o unites against Trump’s Paris retreat

G2o unites against Trump’s Paris retreat

The Hamburg meeting of the G20 has isolated the US President’s anti-climate stand on the Paris Accord. Leaders of the 20 developed and large developing countries who met for twelfth time since its formation in 1999, passed a declaration criticizing the US approach to climate protection. The final communique at Hamburg exposes US isolation: “We take note of the decision of the United States of America to withdraw from the Paris agreement.” Besides the rejection of the US stand on climate protection the communique reassured its stand on Paris: “The leaders of the other G20 members state that the Paris agreement is irreversible.” The US President Donal

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China & East Asia 04 Jul 2017 by Tojo Jose

India and China struggling to find a way out from the border tension

India and China struggling to find a way out from the border tension

China’s attempt to construct a border road at the trijunction with India and Bhutan and the tension out it is going unabated. Giving a fresh dimension to the border tension, Chinese media seems to be raising popular sentiments through unusual contents. The tabloid natured Global Times’ most read and most shared articles during the last one week was about the border tension. Similarly, its most tweeted post was the deployment of a new tank in Tibet that according to the Chinese military, is superior to Indian tanks. Despite the Hong Kong developments where the President is engaged, the media was able to deviate popular attention to the border areas. Historically

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Emerging Markets 07 Jun 2017

Qatar paid $1 billion to Middle East groups in a hostage deal: Financial Times

Qatar paid $1 billion to Middle East groups in a hostage deal: Financial Times

London based Financial Times reported that Qatar has paid $1 billion to two terrorist groups that have bases in Iraq and Syria to release its royal family members. The deal according to the newspaper took place in April when 26 members of a Qatari falconry party in southern Iraq were made hostages. The ransom payment to was made to two blacklisted entities in the Middle East – an al-Qaeda affiliate and Iranian security officials. The big money paid to the Iranians and the al Qaeda militants has irked Saudi Arabia and other Arab countries who always had suspicion about the way in which Qatar played its politics, having connection with various militant groups. Ranso

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Emerging Markets 06 Jun 2017

Saudi Alliance isolates Qatar over extremist and Iran ties

Saudi Alliance isolates Qatar over extremist and Iran ties

A short-term rift in the Arab world has surprised Middle East politics as Saudi Arabia and five other Muslim countries cut ties with Qatar over its reported tie with Arab world’s undeclared rival – Iran and extremist groups. Joint communique by Saudi Arabia, Egypt UAE and Bahrain accused Qatar supporting Islamists and Iran. Yemen and Maldives joined the Saudi effort later. The Arab state’s action comes two weeks after the US President Donald Trump’s visit to the region that hinted a strengthening relationship between the US and the Arab world; sidelining Iran. US President also urged gulf to drive out extreme forces while buying the Saudi argument that Ira

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US and Europe 03 Jun 2017 by Tojo Jose

Climate supporters reinforces against Trump

Climate supporters reinforces against Trump

The US President’s pull-out statement from Paris deal has created a resurgence of support for the deal from various parts of the world except from Russia. Unlikely partners on several issues - China and EU agreed a “green alliance” to take over leadership of the global climate agenda at their Brussels meeting. Donald Tusk, the European Council President, said EU and Beijing agreed to accelerate reduce harmful emissions. China is the world’s largest polluter followed by the US and the EU. Germany's Chancellor Angela Merkel who clashed with Mr Trump few weeks ago has made strong commitment towards Paris. “I say to everyone who values the future of

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