India and Australia need to take a leadership role in maritime security affairs in the two oceans and have deeper engagements with the Pacific and Indian Ocean island countries.
Ashok Kumar Behuria replies: The term 'neoliberalism' has an economic refrain. It advocates a free market, laissez-faire economy. In international relations, neoliberal institutionalism has a slightly modified tenor that lays emphasis on economic interdependence which has been a marked feature of international politics in the post-Cold War period. Such interdependence leads to inter-connectedness and linkage that ensures peace and reduces the probability of conflict between states.
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.
China’s Response to Indo-Pacific Economic Framework
Beijing’s pushback against the Washington-backed Indo-Pacific Economic Framework is likely to result in an intense regional geo-economic competition.