Asia

India to cut Russian oil purchases, U.S. to slash tariffs as they near trade deal: Indian media report
22Oct mmBy Joe RodriguezNo Comments
Asia, USA

India to cut Russian oil purchases, U.S. to slash tariffs as they near trade deal: Indian media report

The U.S. could substantially slash tariffs on Indian exports as the two countries near a trade deal that could see New Delhi cutting oil purchases from Russia, Indian media outlet Mint reported Wednesday. As part of the trade deal, Washington could slash tariffs on Indian exports to 15%-16% from the current 50%, Mint reported citing three unnamed sources aware of the matter. India is also considering raising its import quota for non-genetically modified corn from the U.S. — currently 0.5 million tonnes annually — even with a import duty of 15%, while pushing for a mechanism under which both sides can revisit tariffs and market access over time, the report said. On Tuesday, U.S. President Donald Trump said he had received assurance from Indian Prime Minister Narendra Modi in a...
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India’s pension system ranked lowest in world, Singapore tops
17Oct mmBy Michael SmithNo Comments
Asia, Singapore

India’s pension system ranked lowest in world, Singapore tops

India’s retirement income system continues to trail global best practices, as the Global Pension Index 2025 ranks India with a D-grade and a score of 43.8 out of 100 — notably behind top-performing systems.   According to the Global Pension Index 2025, published by Mercer and the CFA Institute, few nations have cracked the code on balancing adequacy, sustainability, and trust — with the Netherlands, Iceland, and Denmark once again leading, and India, Philippines, and Thailand among those lagging far behind. "The research highlights significant diversity between systems around the world, with index scores ranging from 43.8 to 85.4. The Netherlands, Iceland, Denmark, Singapore, and Israel rank highest. These nations offer strong benefits, sound regulation, and solid as...
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EU pushes new AI strategy to reduce tech reliance on US and China
5Oct mmBy Brian ThompsonNo Comments
Asia, China, USA

EU pushes new AI strategy to reduce tech reliance on US and China

Brussels to unveil plan targeting digital sovereignty as it warns technology can be ‘weaponised’ by geopolitical rivals The EU must promote homegrown artificial intelligence platforms and decrease its reliance on foreign providers, Brussels has said, as it prepares to set out a new plan to compete against the US and China in the global race for the revolutionary technology. According to a draft proposal seen by the Financial Times, the European Commission’s new “Apply AI strategy” will promote European-made AI tools to provide security and resilience while boosting the bloc’s industrial competitiveness. The strategy highlights the need to improve AI usage in sectors including healthcare, defence and manufacturing. The Commission aims to “strengthen EU AI sovereignty” by accel...
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PoK turmoil grows as massive protests erupt; Pakistan remains on edge
29Sep mmBy Walter ParezNo Comments
Asia

PoK turmoil grows as massive protests erupt; Pakistan remains on edge

Crisis deepened in Pakistan-occupied Kashmir (PoK) on Monday as Awami Action Committee (AAC)-led protestors flocked to the streets in large numbers, calling for an indefinite 'shutter-down and wheel-jam' strike.  The protests come amid a breakdown in talks between the AAC and the local government, prompting the alliance to call for one of the largest demonstrations against the “decades-long denial of fundamental rights", according to Dawn. Lockdown is just plan A According to the report, the region-wide lockdown underway in PoK is aimed at sending a "loud and clear message that enough is enough". The protestors are asking the government to grant the rights or face the wrath of the people. The lockdown is just plan A, the alliance had also prepared plans B, C and D, of...
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Economic Freedom Index 2025: Singapore tops the chart, check where India stands among 184 nations
29Sep mmBy Brian ThompsonNo Comments
Asia, Singapore

Economic Freedom Index 2025: Singapore tops the chart, check where India stands among 184 nations

Singapore has once again claimed the top spot in this year’s Economic Freedom Index, becoming the world’s freest economy, which continues to show resilience and prosperity. Switzerland is in second place, followed by Ireland. Taiwan ranks fourth, marking its highest position ever. Meanwhile, India stands behind at 128, reflecting significant challenges in the domestic economic environment. In this year’s rankings, there are a few shifts among the top economies. The 2025 Index reviewed the economic policies of 184 countries from July 2023 to June 2024. It found that the global economy, as a whole, remains “mostly unfree”. The average economic freedom score worldwide rose slightly from 58.6 last year to 59.7 this year. The 2025 Economic Freedom I...
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Before economy slows, cut the rate
29Sep mmBy Mike TrudellNo Comments
Asia

Before economy slows, cut the rate

Given subdued inflation, exogenous headwinds, there is a case for RBI, MPC to cut rates to offset drags in second half of fiscal year India’s gross domestic product (GDP) has consistently exceeded expectations after the Covid pandemic subsided. This trend has continued so far in this fiscal, given a first-quarter print of 7.8 per cent that trumped consensus by nearly a percentage point. A notable macro development is the faster-than-anticipated decline in inflation that, until last fiscal, stayed elevated. This prompted the Reserve Bank of India (RBI) and professional forecasters to lower their inflation projections. Mint Road now expects consumer inflation to average 3.1 per cent, according to the August monetary policy review statement, compared to the 4 per cent forecast in A...
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Digital Gold or Financial Folly? Pakistan’s Troubled Crypto Path
29Sep mmBy Michael SmithNo Comments
Asia

Digital Gold or Financial Folly? Pakistan’s Troubled Crypto Path

Pakistan’s recent embrace of Bitcoin and digital finance marks a dramatic shift in its economic strategy, one that blends technological ambition with fiscal desperation. In March 2025, the government established the Pakistan Crypto Council (PCC), led by Bilal Bin Saqib, a young and dynamic figure who also serves as the State Minister for Crypto & Blockchain. Pakistan officially announced the creation of its first government-led Strategic Bitcoin Reserve on May 29, 2025, during the Bitcoin 2025 conference in Las Vegas. Alongside the PCC, the Pakistan Digital Assets Authority (PDAA) was created to draft regulations for cryptocurrencies, digital wallets, and blockchain systems. These institutions represent a bold attempt to formalize and harness the power of digital assets, with p...
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Trump’s economic rivalry with China is forcing countries to pick a side
27Sep mmBy Joe RodriguezNo Comments
Asia, China, USA, World

Trump’s economic rivalry with China is forcing countries to pick a side

Globalization is dead, at least that’s the verdict of a seemingly endless stream of commentators. But as ever in economics, the story isn’t quite so simple. The prevailing account runs something like this: tariffs first introduced by President Trump, kept in place by President Biden and now turbocharged in Trump’s second term, signal a new age of economic nationalism. According to this view, we are witnessing the start of a grand retreat from the open trading system that has defined the past few decades. The world is turning inwards, and the era of global integration is drawing to a close. But this story doesn’t sit comfortably with the facts. Far from collapsing, global trade volumes have continued to rise and today sit near record highs. If this is the dawn of deglobalization, it...
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The economic roots of Nepal’s uprising—and what it means for the region
21Sep mmBy Walter ParezNo Comments
Asia

The economic roots of Nepal’s uprising—and what it means for the region

Last week, Nepal became the third South Asian country in three years to see its government collapse under the weight of mass protests. On September 8, after the government banned twenty-six social media platforms, young Nepalis poured into Kathmandu’s streets, furious at what they saw as an attempt to silence criticism. The protests escalated, leaving more than seventy people dead and causing hundreds of millions of dollars’ worth of damage. Analysts have rushed to dissect the political intrigue behind the resignation of Prime Minister KP Sharma Oli and the appointment of former Chief Justice Sushila Karki as interim leader. But focusing only on the political aspects of these crises misses the bigger picture: economic despair fueled this...
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One Belt, One Road: China’s Strategy for a New Global Financial Order
15Sep mmBy Brian ThompsonNo Comments
Asia, China

One Belt, One Road: China’s Strategy for a New Global Financial Order

n late 2013, Chinese premier Xi Jinping announced a pair of new development and trade initiatives for China and the surrounding region: the “Silk Road Economic Belt” and the “Twenty-First-Century Maritime Silk Road,” together known as One Belt, One Road (OBOR).1 Along with the Asian Infrastructure Investment Bank (AIIB), the OBOR policies represent an ambitious spatial expansion of Chinese state capitalism, driven by an excess of industrial production capacity, as well as by emerging financial capital interests. The Chinese government has publicly stressed the lessons of the 1930s overcapacity crisis in the West that precipitated the Second World War, and promoted these new initiatives in the name of “peaceful development.” Nevertheless, the turn to OBOR suggests a regional scena...
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