Argentine has defaulted on its sovereign debt eight times since independence in 1816, and the country has been punctuated with regular economic crises in the past 70 years. The issue on hand is not so much about Argentine default, but the judgement and approach of the IMF.
The Andaman and Nicobar Islands, an archipelago of 572 islands, is strategically located in the Indian Ocean and has the potential to play a decisive role in the shaping of India’s Indo-Pacific policy.
Joe Biden, who served as Vice President under Former US President Barack Obama, stated that the TPP in its current form was unacceptable and if elected as President, he would only make the US join the agreement if parts of it are “renegotiated”.
From the Chinese perspective, openness and inclusiveness are perhaps the most attractive points about the BRI. For the Chinese government, the BRI is a multilateral vehicle designed for those who want it for developmental purposes based on market forces.
New Delhi and Beijing have taken steps to find common ground in new areas such as in the information technology sector. The National Association of Software and Services Company of India has set up IT corridors in Guiyang, Xuzhou and Dalian of China.
In the first six months of 2019, China moved on a number of fronts in the Belt and Road Initiative. Many of these projects aimed to create a win-win situation with the recipients of the funds. However, there were some issues that highlighted challenges of the BRI.
Alibaba is using “City Brain”, an Artificial Intelligence system, to help ease traffic flow in Hangzhou. Meanwhile, an AI town has been established next to Alibaba’s headquarters and indicates Hangzhou’s plan to lead the fourth industrial revolution within China.
The punitive American tariffs aim more at checking Beijing’s technological ambitions and less at reducing the US trade deficit. Washington’s long-term fear is that China seeks to dislodge the US from its global primacy.