In the beginning of the second week of February 2019, Ladakh became the third division within Jammu and Kashmir to be demarcated as a separate administrative and revenue division, with Jammu division and Kashmir being the other two.
Udai Bhanu Singh replies: China-Myanmar Economic Corridor (CMEC) has been touted as a flagship project of Beijing’s Belt and Road Initiative (BRI) in Myanmar. A memorandum of understanding (MoU) to establish CMEC was signed between the two countries in September 2018.
Jagannath P. Panda replies:Operationally, both the AIIB and the New Development Bank (NDB) of the BRICS differ from each other in their structure and functionality. Both are yet to evolve as credible international banks. Their membership composition, areas of focus, structures, and operational and financing patterns make them different from each other.
Several international players are competing to finance projects in African countries, and New Delhi will be at a disadvantage if it does not proactively engage in strengthening development partnerships. As an emerging power that is actively pushing South-South Cooperation (SSC), India has to convince its partners the advantage of Indian development assistance, which adheres to principles of horizontal cooperation and mutual benefit.
China’s launch of a yuan-denominated oil futures exchange will provide it with the opportunity to create an Asian crude oil benchmark and give it more clout in crude pricing and for promoting the yuan as a truly global currency.
BIMSTEC needs to build on regional synergies and work towards utilising the available resources optimally by focusing on fewer priority areas and undertaking projects that are economically feasible.
Given an already upset population and the presence of anti-establishment factions, the unequal distribution of the benefits of CPEC is likely to ignite protests and cause a setback to the initiative as well to the Pakistan establishment.
AIIB is a Chinese dominated bank and the Chinese excitement about AIIB is based on the control and strategic clout that Beijing, the bank’s main architect, wields over its functioning.
The Coming of the Petroyuan?
China’s launch of a yuan-denominated oil futures exchange will provide it with the opportunity to create an Asian crude oil benchmark and give it more clout in crude pricing and for promoting the yuan as a truly global currency.