Solutions to Change

By Anagha Vinod Technological innovation has changed the world drastically. FinTech, which is short for financial technology, means embracing the novel digital technology for the efficient delivery of financial services. The services offered not only include payment and borrowing but also crowdfunding, cryptocurrency, robo advising and insurance. This has helped in fostering financial inclusion as more and more people started adopting the method of mobile payments considering its convenience. The FinTech industry includes start-ups and some of the big companies in the world. These companies have taken a strong root in countries like India and China. Despite all these, FinTech also has its flip side. It is important to determine how much the industry should be regulated and how high should the barriers to entry be. The main factors which influence the market structure can be categorised into two viz., supply factors and demand factors. Most of the barriers to entry come unde...

 By Aditya Vijay* In February of 2018, the military leaders of China and the 10-member Association of Southeast Asian Nations (ASEAN) met in Singapore and revealed plans to hold two joint military drills later this year, supposedly in October and November. This development perplexed many foreign policy experts and analysts. No one could decipher the motives of the ASEAN countries in agreeing to hold maritime drills with what many members of the association consider the primary aggressor in the South China Sea. Vietnam, the Philippines, Malaysia and Brunei have territorial claims in the South China Sea, which directly conflict with Beijing ’ s claims. This then begs the question as to why the regional bloc would allow military cooperation with Beijing, when competing strategic interests are at stake. A possible answer may be found through a closer inspection of China ’ s economic ties and investments in ASEAN. China has been ASEAN ’ s largest trading partner for...

 By Tarun Nair* The Asian Infrastructure Investment Bank (AIIB) has been in the news off late, mostly for the right reasons. Heralded as the answer to the World Bank’s deficiencies which include its exclusive representation of European interests, it is touted to be a mechanism which will singularly fulfil Asia’s development needs through timely funding. Considering that a recent report pegs Asia’s infrastructural development to require around 8 trillion dollars’ worth of investment, the AIIB may indeed occupy a place of great importance, with its 100 billion dollar capital allocation.  (china.org.cn) However, though the initiative must be welcomed, no extreme positions can be taken as of now, for it has certain aspects which must be carefully evaluated first. Until the shares, voting and veto rights are announced, it is early to comment on the role played by the organisation. Other concerns abound about whether the bank will be dominated by Chinese interests as an...

By Eli Bernstein* It is no secret India is about to turn a corner and enter the world stage. Modi is well positioned to steer India from a developing nation to a nation developed. However, this rise should not be limited only to economic development. India, the world’s largest democracy and soon to be the world’s most populous nation is right to insist its voice should be heard on global affairs. This greater role in the international arena should include permanent membership of the UN Security Council and playing a key role in keeping world peace and the fight against international terrorism. To do this, India must change its foreign policy on a number of fronts. First, India must recognize that affairs in today’s world are increasingly global. India is not an island. India can — and should — become a diplomatic powerhouse as it grows in economic significance. India has a role to play in forming international policy, in the fight against terrorism, and in keeping world p...

By  Padmini Gopal* India’s GDP of US$1.8 trillion [1] and an expected growth rate of 6.4per cent in the year 2015 [2] is a testament to India’s present status as a rising world power. Moreover, India’s present nuclear competence and clout, with almost 90-110 nuclear warheads [3] , makes India’s current status unequivocal. Despite that, India seems to be plagued with ‘interstate rivalries that resemble 19 th century Europe’ [4] along with a myriad of challenges that beset the 21 st century, such as terrorism, cyber security, climate change and maritime piracy. These challenges are only amplified by the uncertainty omnipresent in the international arena, with Pakistan reluctant to assure India of security from future terrorist strikes, China unwilling to let go of its claim over Arunachal Pradesh, and a Sinhalese led Sri Lanka refusing to give legitimacy to the wishes of the Tamils. So is India capable of living up to its title given the uncertain international arena it...