The ouster of China’s Foreign Minister Qin Gang, after only six months in that post, and the recalling of his senior Wang Yi to it, has exposed the rot in China’s higher echelons and the vulnerabilities of the second largest economy in the world.
De-dollarization, a term relatively unfamiliar until the early 21st century, refers to the gradual move away from the US dollar as the global reserve currency. The term encapsulates the efforts of several nations aiming to reduce their dependency on the dollar for international trade and financial transactions. Simultaneously, it involves a shift towards other currencies or the creation of new payment mechanisms independent of the dollar. The journey of de-dollarization offers a variety of implications for different nations, with India's role in the global currency trade taking a unique stance.
Renewed proximity with India can help Sri Lanka reduce its dependence on foreign reserves, while giving Delhi the leverage to push for benefits.
President Wickremesinghe seems to have succeeded in conveying Sri Lanka's best intentions for India during his visit.
Development has come to be equated only with growing production and higher GDP growth. This is sought to be achieved via hugely expensive and environmentally damaging urbanization, the effect of which Delhi is reeling from.
While the G20 has looked at cybersecurity issues from the digital economy viewpoint, cybersecurity and its linkages to law enforcement cannot be overlooked.