Join InsideIIM GOLD
Webinars & Workshops
Compare B-Schools
Free CAT Course
Take Free Mock Tests
Upskill With AltUni
CAT Study Planner
In today's highlights, we bring a very satisfying piece of the global pie. While every eye is looking at the USA elections, we wanted to discuss why it matters to us here in India. What's the big deal - a new American President?! That and something more about the India Taiwan trade pact in today's bulletin. We also talk about cryptocurrency coming back with a bang. Read more to find out!
With great power comes great responsibility. This iconic quote by Uncle Ben from the Spiderman universe is applicable in most cases. Today we want to talk about how it's applicable in the case of the USA. Everyone (*cough*big brother*cough*) is waiting with bated breath on the final verdict. Who will become the new President of the United States of America? Well, we'll know as soon as the results are declared. Meanwhile, let's talk about the USA and India. How does it matter to us who becomes the President of the USA? Honestly, it doesn't. To us Indians, irrespective of who is President, we are still looking for the same stuff - more room for ourselves in the world! Keeping in mind the much-publicized Modi-Trump friendship, this might sound strange. Read this article to get a download on just why to us here at home, a new US president matters not. Or glance through our synopsis below!
Well for starters, no matter what career you plan to get into, this topic combines trade, economics, politics, and psychology that affects the globe. Which means it's one of those evergreen GD topics. Further still, whether you're planning to get into finance, marketing, consulting, or operations, knowing the facts is much more important than speculation!
So here's the thing. Trump led America has been folding in on itself. The focus is on "Make America Great Again." But the problem with this is that the Trump administration managed to pull out of various landmark global pacts and deals. Under the Trump administration, the US walked out of the Paris climate accord, torpedoed the Iran nuclear deal, bought up Covid vaccines in the making for its own citizens, and walked out of the World Health Organisation instead of strengthening its program for equitable global access to vaccines, prosecuted a trade war that derailed global growth, we are reminded of Uncle Ben's quote mentioned above. Let's not even discuss the topic of climate change here! Then there's China. America's anti-China stand is pretty radical. The only problem is, all of this highlights how the USA seems to be closing in on itself, leaving a bit of a vacuum on the international stage.
But wait, we are looking at this from the India lens. As a nation, when it comes to foreign policy & trade, India wants more room for ourselves too! For instance, currently, we are forced to import liquefied natural gas from the USA, instead of Iran, which is located much closer home. Not to mention India's policy against Pakistan which is vetoed by China at every global summit. So as a nation, our priority is to gain more maneuvering room. An economy like India has the potential to be an aware, kind, and empathetic world power, a space until recently occupied by the USA. But that's for later. First, we need to see who will be the new leader of the American dream and how he will shape it!
These policies and these rules though are the ones that are subject to change depending on a new American administration. So, while it doesn't really matter who ends up becoming the Prez, as Indians it's these international aspects that'll affect us!
What do you think? Do you think a new President in the White House will make a difference to world politics and foreign policy in a significant way? Share your thoughts, opinions, and conjectures in the comments section below!
________________
The Indian government avoided trade talks with Taiwan earlier because they didn’t want to antagonize China. But ever since the deadly border clashes in May, relations between the two countries have been deteriorating anyway. So, we may just take a chance on Taiwan now. And that's precisely what's being discussed. Find a short history lesson on just why creating any kind of trade pact with the happy nation of Taiwan is a big deal and how it benefits us as a country in this enlightening read!
Bitcoin has crossed the Rs. 11 lakh mark in India. The instability in the US, along with other factors, has promoted a resurgence of interest and the value of Bitcoin has been rising towards 2017 levels when it peaked at approximately Rs. 12.5 lakh for one Bitcoin. The 2018 Reserve Bank of India ban on the trading of cryptocurrencies put a temporary halt on its growth, but now that the Supreme Court has overturned the ban, global players are looking to enter the Indian market to make the most of the nascent but growing market. While Bitcoin is at its peak, Ethereum is currently selling for Rs. 33,090 per unit, whereas Litecoin will cost you Rs. 4,829. Read more in this article.