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The Quad’s economic imperative: Participating nations should cooperate and benefit beyond the security framework May 7, 2021, 7:30 AM IST
Chairman & CEO of KPMG India, Arun M Kumar has served as Assistant Secretary of Commerce and Director General of the US Commercial Service in the Obama Administration.
The leaders of Quad nations came together this March (virtually) for a meeting that was veritably 17 years in the making. Launched as a humanitarian response to the December 2004 Tsunami that killed and displaced millions across South and Southeast Asia and Africa, the Quad now met in the wake of another calamity – this time a worldwide one, the Covid-19 pandemic. Appropriately, they pledged to combat the pandemic together through vaccines. This sets an example of concerted action to advance a framework for a free and prosperous Asia Pacific, built on a bedrock of democracy and cooperation.
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13/04/2021 10:31 GMT+7
The percentage of Vietnam’s exports to the United States against her total exports increased from 19.7% in 2010 to 23.2% in 2019, and to China from 10.7% in 2010 to 15.7% in 2019.
Meanwhile, the percentage of Vietnam’s imports from the United States against her total imports rose from 4.4% in 2010 to 5.7% in 2019 and from China from 23.8% in 2010 to 29.8% in 2019.
The productivity of Vietnam in terms of the value added against the gross output is the lowest among the three countries, with 29%, while the productivity of China is 32.7% and the U.S. 55.8% - Photo: SGT
In recent years, China, under President Xi Jinping, has seen substantial growth and sought a greater leadership role in world affairs. New equations have emerged domestically as well. As Xi fortifies his hold over the Chinese Communist Party (CCP) and the country, repressive policies in Tibet and Xinjiang and excessive curbs on academic freedom can pose potential political threats. At the same time, issues like ecological degradation and widening wealth disparities may add to Xi’s challenges. How Xi and the CCP aim to navigate these flashpoints will have a significant bearing on the future of the country, the party, and the president himself.