International Economic Relations [Hardcover]

ABOUT THE BOOK:- India unveiled the Look East policy in 1991. East Asia, including Japan, China, South Korea and ASEAN is today India's largest trading partner, ahead of EU and the US. Proliferation of Free Trade Agreements (FTAs) is the clearest evidence of Asian countries desire to forge closer economic relationships. Look East has evolved to “Act East” and “Action East”. The growing importance of CECA (Comprehensive Economic Cooperation Agreements) indicates that such agreements are becoming deeper, extending to areas beyond just tariff reduction. Intra-regional trade and investment require building up of shared infrastructure. Many Asian countries have joined together to develop cross-border infrastructure to lay the foundations for closer trading relationships and increased connectivity among countries. India is today slow in agreeing to signing the RCEPA (Regional Comprehensive Economic Partnership Agreement) which includes ASEAN, India China, Japan, South Korea, and Australia, due to economic and tariff issues, though for geo-political considerations, it wants to go ahead. Ultimately, National interests, will override, both geo-economics and geo-politics. It must be added here, when we talk of the “Asian Century”, West Asia, Central Euro-Asian and former Soviet Central Asian Republics (now independent countries, with the break-up of the Soviet Union in 1991),are left out. Asia can be a true power to reckon with only if all of ASIA is included in any geo-economic or geo-political discourse. BIMSTEC (Bay of Bengal Initiative for Multispectral Technical and Economic Cooperation) or SCO (Shanghai Cooperative Organization),or a truncated SAARC, cannot be a viable option, although, it may serve short-term political gains. Needless to say, there should be zero tolerance to terrorism. across ASIA, and INDIA particularly, should be wary of engaging, China, Pakistan, and a Talibanised Afghanistan, even on trade and regional cooperation issues. Some of these areas will be covered in the Book. The Book consists of Articles written over the past two decades, and the Chapters give an overview of India's bilateral and regional cooperation, and theoretical issues in international trade. Many of the Articles are updated versions of Articles, written in 2008, in a Book, with the same title.