The Impact of Trade Deficit in Nepalese Economy

This study aims to explore more information about the economic performance of Nepal and the impact on the economy caused by foreign trade. The trade deficit impacted directly on the financial performance of the country. It affected the GDP of the nation, supply side, interest rate, price of commodities and FDI. The article has discussed the relationship with the major trading partner of Nepal and other countries. Besides this, a quantitative research method was used in this research paper. Information in this article was collected from a secondary source of data. The reliability of this study depended on the reliability of secondary data. The analysis was based on a simple statistical tool. Concerning the methodology, it is based on exploratory data analysis. The comparison has been made in this paper with primary trading partner countries India, China and other countries. This study has found the deficient export performance of Nepal, which has created the problem of rapidly increasing trade deficit. Trade deficit became one of the major causes that lead the national economy to downturn side.

South Africa and Rhodesia/Zimbabwe

This article traces the relations between South Africa and Southern Rhodesia/Rhodesia/Zimbabwe from the end of the 19th century until the present with respect to politics; economic, military, ideological, and cultural activities; as well as foreign policy. The conflicted relationship between the two countries went through varying periods of close cooperation and also of tension, especially given the difference in power between the much larger and more economically prosperous South Africa and the smaller society and economy of Southern Rhodesia. Other important factors include the dominant influence of the Afrikaners in South Africa, from the creation of the Union in 1910 onward, and the apprehension felt by a predominantly English-speaking white population of Rhodesia, which arose from a fear of being swallowed up by Afrikaner-dominated South Africa. During the Zimbabwean liberation struggle from the early 1960s onward, South Africa gave military support to Rhodesia, at least in the early part of the conflict; it changed its policy in the mid-1970s and began to advocate for negotiations between Rhodesia’s warring parties. Between Zimbabwe’s independence in 1980 and the democratic transition in South Africa in 1994, relations between the two countries were fraught with tensions because the Zimbabwean government persistently condemned the apartheid regime and hosted representatives of South African anti-apartheid movements, although Zimbabwe was careful not to allow these movements to launch military attacks on South Africa from its soil, for fear of reprisals. On its part, the South African government conducted a sabotage campaign against its northern neighbor and exerted economic pressure on it. Despite all these tensions, however, South Africa remained Zimbabwe’s major trading partner throughout this period. The tension between the countries lessened when Nelson Mandela became president in 1994, but new tensions arose because of Mandela and Robert Mugabe’s rivalry over the leadership of Southern Africa. On coming to power in 1999, Thabo Mbeki tried to diffuse tensions by adopting a different style of foreign policy that, in Zimbabwe’s case, was known as “quiet diplomacy”—a policy that came under much criticism from Western countries and some sectors in Southern Africa. Mbeki’s successors continued this diplomatic policy toward Zimbabwe, even following a militarily assisted political transition in November 2017, which saw the overthrow of Mugabe and his replacement by Emerson Munangangwa.

Pertumbuhan Ekonomi dan Kemiskinan Indonesia: Analisis Dampak Liberalisasi Perdagangan pada Mitra Dagang Utama

Purpose: This study aimed to analyze the effect of trade liberalization on Indonesia's exports by involving the three (South Korea, Japan, and China) major trading partner countries. Research Methodology: This study used the concept of a gravity model, with panel data samples from 1996 - 2019. This study used independent variables such as tariffs, level of openness, exchange rates, poverty, economic growth (GDP), inflation, and distance. Results: The study results found that tariffs and the level of openness have a significant effect on exports. It can be said that trade liberalization has an effect on exports. In addition, the variables GDP, poverty, and the exchange rate also have a significant effect on exports. Meanwhile, the two variables of inflation and distance have no effect on Indonesian exports. This condition shows the same thing among the three trading partner countries. Limitations: Other elements were not included in this study, such as digitalization and international trade technology. Contribution: The theoretical contribution of this research provides scientific contributions in the field of economic liberalization and poverty, and the empirical contribution shows that Indonesia's macroeconomic conditions are still dependent on trade with neighboring countries.

Economic & geopolitical opportunities and challenges for Bangladesh

Investment seeking Bangladesh's economy is hungry for local and international finance for its infrastructure development. One Belt-One Road (OBOR) seems opened a golden door, not only for Bangladesh's economic reform but also created an opportunity for higher bilateral cooperation between China and Bangladesh. The geographical location of Bangladesh is playing a vital role despite being a small economy and territory in the region. Covering three sides of the Bangladeshi border, economically emerging state India has a sharp eye look on Bangladesh's strategies and policies more than any other time. The hostile looks of India (on China's OBOR initiative) are not an easy task for Bangladesh regarding Geopolitical & Economic strategies. Growing interests in Bangladesh among China and India appeared as a two-edged sword. However, India was the major trading partner of Bangladesh. However, China's trade with Bangladesh has increased manifold in recent years to surpass India from 2004 onwards. This is slowing down, and the change of economic relations between India and Bangladesh, coupled with strained and uncertain political relations, raises multiple concerns. Many dynamics have contributed to China's growing presence in Bangladesh compared to India's decline concerning trade and investment. India has lost out to China in many vital industries. While reviewing and assessing recent developments, the study also depicts a strategy to counter India's declining economic influence in Bangladesh.

An Analysis of Determinant Factors in Agricultural Trade between India and ASEAN

Considering the significance of trade relation between India and ASEAN, the present study was conducted to analyze the determinants of India-ASEAN trade in agricultural products. This study incorporated HS 2-digit codes from 01 to 24 chapters, which constituted 85 percent of the total chapter falling under agricultural products. To perceive the significance of ASEAN as a major trading partner, shares of India's trade with ASEAN relative to the world was computed via trade intensity approach. Furthermore, the gravity model was employed to witness the determinants of agriculture trade between the two trading partners. The study found that the GDP of ASEAN and India, the common border between the two trading blocs, was positive and significant. The variable distance and landlocked was observed to be negative and significant, which confirmed that trade would decrease if distance increases and if the country was landlocked, respectively. Interestingly, variables like FTA, GDP of India, common language, and common colony showed no significant effect on the bilateral trade.

The Implication of the Oscillations in Exchange Rate for the Commodity-wise Trade Flows between Pakistan and China: An Evidence from ARDL Approach

This study intends to explore the impact of oscillations in the exchange rate on commodity-wise trade flows between Pakistan and its major trading partner China, while employing the annual data for 1982–2017. Applying the ARDL bounds testing approach, this study confirms that 94% of the selected exporting and 86% of the chosen importing industries possess “cointegration”. Further, the findings reveal that 81%, in the short run, and 52%, in the long run, of exporting industries respond to the volatile exchange rate. Moreover, the volatility affects 77%, in the short run, while 65%, in the long term, of the importing industries. Fascinatingly, the findings also indicate that a major shareholder exporting industry coded as 651 (“Textile yarn and thread” with 57% share) gets benefitted from the volatile exchange rate.

Towards a Reformed Carriage of Goods by Sea Law: Indonesia and Global Practice

The UNCITRAL (United Nations Commission on International Trade Law) has adopted four international conventions to standardize laws governing the carriage of goods by sea. Hybrid versions of the four conventions have been largely applied by most maritime countries in the world, which leave a few countries to uphold their own versions, including Indonesia. Ten major trading partner countries with Indonesia have long established the implementation of provisions under the UNCITRAL conventions, while Indonesia still stays with 1898 codes, inherited from Dutch colonization. This paper examines the key provisions and shortcomings of UNCITRAL conventions and their global adoption. The discussion continues to individually evaluate and compare the legal practices of governing carriage goods by sea in Indonesia and its ten major country partners. The comparison analysis results in similar implementation of a hybrid version of the four UNCITRAL conventions adopted by the ten trading partners; which strongly encourages Indonesia to replace the 1898 commercial codes with current international practices that convey the best interests of Indonesia.

The Impact of Volatile Exchange Rate on Commodity Wise Trade of Pakistan to Its Major Trading Partner China: An Empirical Case Study

The current study endeavors to explore the effects of oscillations in exchange rate on commodity trade flow between Pakistan and China, employing the data for the time period of 1982-2017. Applying ARDL Bound Testing approach, we find that 63% exporting and 55% importing industries of Pakistan demonstrate the co-integration. Further, employing ARDL technique, the current study deduces that 55% in the short run and 18% exporting industries in the long run respond to the volatility. In imports function, the volatility affects 56% industries in short as well as long run. Intriguingly, two exporting industries coded as 651 (57% share) & 652 (13% share) do not respond to the volatility. And, this is the unique aspect of our study.

China's UN Peacekeeping in Mali and Comprehensive Diplomacy

China's increasing participation in United Nations peacekeeping operations reached a milestone in 2013 when Beijing agreed to send a large detachment of personnel, including combat forces for the first time, to support UN peacekeeping operations in Mali after that country fell into civil war. This commitment was also distinct in that unlike other African countries where Beijing has supplied peacekeepers, Mali is not a major trading partner with China. However, this mission has both cemented Beijing's greater commitment to building African partnerships as well as demonstrating its determination to move beyond “resource diplomacy” and towards a more comprehensive approach to engaging the continent. Although China has warmed to the principles of humanitarian intervention in civil conflicts, Mali has been a critical test of China's ability to participate in UN operations in a country which is still facing ongoing violence. The Mali mission is an important step in Beijing's turn towards greater realpolitik in Chinese Beijing's peacekeeping policies in keeping with its great power status. At the same time, participation in the Mali mission has been beneficial for China, not only in helping to build the country's peacekeeping credentials in Africa but also in underscoring China's increasingly distinct views on addressing intervention in civil conflicts.