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  • Author: Mehmet Özkan
  • Publication Date: 01-2011
  • Content Type: Journal Article
  • Journal: The Rest: Journal of Politics and Development
  • Institution: Centre for Strategic Research and Analysis
  • Abstract: Recently we have seen that the middle-sized states are coming together in several forums. The WTO meetings and India-Brazil-South Africa (IBSA) dialogue forum are among those to be cited. Such groupings are mainly economy oriented and whether they will have political output needs to be seen, however, in the future if globalization goes in a similar way as today, we might see more groupings. Those groupings should be seen as reactions to unjust and exclusive globalization. The IBSA Dialogue Forum members have enhanced their relations economically by signing bilateral trade agreements and acting together on economic issues in global forums. If they can hold together, they are creating a market more than ¼ of global population and, if successful, it has a chance to be the engine of growth in the South. Moreover if they can create the biggest market in the South, they would also be influential in the being of the voice of the South. In that sense, this paper addresses the possible ways to develop relations between the IBSA members and economic development in the South, furthermore, implication of the IBSA on global governance and development can be as critical as its contribution to economic development, since the global governing bodies have legitimacy crisis.
  • Topic: Cold War, Economics
  • Political Geography: India, South Africa, Brazil
  • Author: Dr. Sumanjeet Singh
  • Publication Date: 07-2011
  • Content Type: Journal Article
  • Journal: The Rest: Journal of Politics and Development
  • Institution: Centre for Strategic Research and Analysis
  • Abstract: Towards the end of 2008 the effects of global recession started getting reflected in international trade. The fall in global demand and the slowing-down in economic growth translated into a substantial reduction in international trade. It affected the cross-border trade of virtually all countries and economic sectors. Indian exports trade could not remain unaffected in a situation where external demand was dwindling globally. The present paper reviews India's export performance during and following the global financial crisis. Indian exports started to decline in July 2008. It declined from US$ 17,095 million in July 2008 to US$ 11,516 million in March 2009, which accounts for almost 33 per cent decline. This growth contraction has come after a robust 25 per cent-plus average export growth since 2003. But, as a result of government policy measures and recovery in global economy, India's exports growth turned positive and exports grew by a whopping 54.1 per cent in March 2010 and recorded the highest growth rate among the world's top 70 economies in merchandise exports. India's merchandise exports during April 2010 at US$ 16.9 billion recorded a growth of 36.3 per cent as compared with a decline of 32.8 per cent registered in April 2009. Exports witnessed huge annualized growth of 56.9 per cent to $25.9 billion in May 2011 in a bright spot for the Indian economy, which is battling high inflation amid signs of a slowdown.
  • Topic: Economics, Government, Financial Crisis
  • Political Geography: India