The China- Pakistan Economic Corridor (CPEC) is a network of highways, railways and infrastructure projects under the Belt and Road Initiative (BRI) that will run from Kashgar in China to Gwadar Port in Baluchistan. The project was launched in 2015 with the Beijing government planning to invest $50 billion in 15 years to successfully implement the initiative. Pakistan and China shall monitor the progress of the project by deploying satellites that were launched in June 2018. The project is currently operating in its second phase with both the nations claiming a multifold increase in trade that would benefit other Asian and Gulf countries as well.
Month: October 2019 Page 1 of 4
NRC has dominated public debates, TV news flashes, chai-sutta conversations, newspaper headlines, and liberal protests in the country for more than two years now. The National Register of Citizens, which can be seen as a citizenship test for the people living in Assam would entail the name of everyone who is a legal and genuine citizen of Assam, and thus India. A huge controversy surrounds this topic but the article would stay away from all the heated arguments and delve into the history of Assam which has made this small northeast state the center of a debate on immigration and nationality.
It was rightfully said that ‘the sun never set on the British Empire’ as the British Empire was the foremost global power for over a century and ruled over 412 million people across the globe. Singapore is a prime example of a country that did not fight for freedom from the British Empire but a country that wanted to become a part of another nation. This piece takes us through the independence or rather the expulsion of Singapore from Malaysia and the effects it had on the two nations.
Imagine delivering groceries in the morning, working on your project during the day, walking dogs in the evening and capping off the night by performing at a bar. Or perhaps, working as a graphic designer for an advertising company and simultaneously designing the interiors for a client. Sounds challenging? Tiring? Exciting? Well, irrespective, this is how it’s going to be. This is the future of work.
The global financial crisis of 2007 induced recessions in many countries, but China managed to retain its robust growth levels despite dampened western demand. What is most surprising is that, how did an export-led economy like China manage to keep its finances intact in the midst of the turmoil? The answer lies in the “benevolence” of the government in launching a huge fiscal stimulus package amounting to $600 billion (about 20% of the country’s GDP), which was successful in boosting domestic demand and this is the start of a story which can have pretty much the same repercussions on the global economy as the 2007 crisis had.
A reserve currency is a national currency held by many other governments around the world as part of their foreign exchange reserves. The status of a reserve currency indicates a powerful economy as other governments depend on the reserve currency’s stability to manage their own monetary policies. It allows that country to ‘export inflation’; because when it prints money it circulates it outside its own economy as well, keeping the local money supply much more stable than non-reserve currencies that print money. Traders prefer working in a reserve currency because it minimizes costly exchanges when buying or selling and it gives them what they need most: efficiency and maximization of economic power of the nation to which the reserve currency belongs.
Isn’t it hard to believe that ‘air travel’- a service that has become such an integral part of our daily lives today was once considered to be a ‘luxury’ that only the rich and affluent could get a taste of? With rising incomes as well as the introduction of low-cost carrier models and heavy discounts offered by the airlines, the aviation industry is currently witnessing an air travel boom in terms of the traffic they cater to. For all the obvious reasons, you might consider this to be a ‘gold mine’ for airlines, however, let us halt you for a second there- for, there are much more depth and mystery to this story than you can fathom.
‘Extremist’ is quite a strong term to use. It is a term that has historically been associated with ruthlessly fascist leaders such as Hitler, Lenin, etc. A close look at the activities of these leaders can lead us to a common understanding of what the word actually means. All these leaders had uncompromising and rigid views of the world. This meant that they were quick to demonize any school of thought which challenged their ideology.