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Jayant Menon | East Asia Forum

Jayant Menon | East Asia Forum
eastasiaforum.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eastasiaforum.org Daily Mail and Mail on Sunday newspapers.

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Sheryn Lee | East Asia Forum

Sheryn Lee is a research assistant and Robert O’Neill Scholar at the Strategic & Defence Studies Centre, the Australian National University. ....

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India not ready for RCEP | East Asia Forum

26 December 2020
Author: Nilanjan Ghosh, ORF
On 15 November 2020, 15 nations (the 10 ASEAN countries, Australia, China, Japan, New Zealand and South Korea) signed the Regional Comprehensive Economic Partnership (RCEP). The clamour around India’s decision to walk away from the mega trade deal was loud. But the trading bloc has kept the door open for India to return to the negotiating table.
The economic backdrop to India’s departure is dismal. The nationwide lockdown in response to COVID-19 had a deleterious impact on India’s economy, with GDP contracting by 23.9 per cent in the first quarter and 7.5 per cent in the second. The silver lining is that the second quarter figure was better than expected, but big problems remain. Indian growth over the last three decades has been largely consumption driven, but consumption has been hit by lockdown. Loan moratoriums are unlikely to help much, as only a small proportion of the Indian population have formal sector loans ....

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