From 2013 to 2018, former Maldives President Abdulla Yameen borrowed heavily from Beijing for construction projects. In 2021, Maldives foreign debt was 3 billion dollars, according to the World Bank. In November 2023, IMF warned Maldives that they're at a high risk of external debt distress. Now, IMF has raised a red flag again, saying that they're at a high risk of debt distress. Without getting into exact details of the foreign debt, IMF says that Maldives must URGENTLY adjust their policy. But Muizzu seems to be set on repeating his mentor's mistake. Watch
9 Feb 2024In 1996, businessman Hui Ka Yan founded Evergrande, which went on to become China's largest property developer. Hui Ka Yan was once the richest man in Asia, a self made billionaire. But in 2021, the property giant ended up becoming the symbol of China's property crisis. They were declared to have defaulted on their debt after missing a crucial repayment deadline, which ended up triggering the real estate market crisis at China is currently in Now, this mega real estate giant has now been asked to liquidate all its assets. After an 18 month hearing, a court in Hong Kong has said enough is enough. But what went so wrong for the conglomerate, and what next? Watch
30 Jan 2024China's population has not just declined for the second year in a row, it's declined by triple the amount as compared to last year. This spells more trouble for the world's second largest economy, which is already reeling under high levels of unemployment, a huge real estate sector crisis and an ageing population. Watch
19 Jan 2024China's population has not just declined for the second year in a row, it's declined by triple the amount as compared to last year. This spells more trouble for the world's second largest economy, which is already reeling under high levels of unemployment, a huge real estate sector crisis and an ageing population. Watch
19 Jan 2024Amid increased tensions between the U.S. & China, paranoia in China is at its peak. According to a Wall Street Journal report, China has expanded its ban on the use of iPhones and other foreign-branded devices by government officials.
7 Sep 2023With Russian foreign minister Sergey Lavrov insisting that his country will block any G20 summit declaration that doesn't reflect Moscow's views on Ukraine and other crises. And U.S. is unlikely to agree to the Russian demands, the G20 summit which is now just days away, runs the risk of ending without a joint communique.
7 Sep 2023U.S. has decided to ban new investments in Chinese tech companies. While it is not a blanket ban, it targets sharing of US expertise in sensitive areas like semiconductors, artificial intelligence, microelectronics and quantum information technology companies. U.S. fears China might use the expertise offered by U.S. investors to develop military technologies. This step is likely to further fuel the tensions between the two countries.
10 Aug 2023India’s 2023 diplomatic calendar is unusually busy. On 4th July, India will host the SCO summit. As the G20 President, India is already hosting G20 meetings across the country. However, unlike the G20 meetings, SCO or the Shanghai Cooperation Organisation summit will be hosted virtually.
3 Jul 2023Recently, a former US Trade & Treasury official, Bred Setser made a big claim about China’s Currency reserves. Writing for The China Project. Setser claimed that China has a currency reserve of over $6 trillion. But out of this 6 trillion, roughly half is stashed in hidden shadow reserves. Roughly half of China’s foreign exchange reserve doesn’t show up on its official books. And this, claims Brad Setser, poses a new kind of risk to the global economy. For more details, please watch the full video.
30 Jun 2023In an interview with ABC News also spoke about the idea that China would be negotiating the outcome of the Ukraine war was not rational, following the release of Beijing's peace plan for the conflict.
3 min read25 Feb 2023The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared
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