By Kavaljit Singh | Briefing Paper # 60 | May 9, 2023
On May 1, 2023, U.S. regulators seized troubled First Republic Bank (FRB) and promptly sold all of its deposits and most of its assets to the country’s biggest bank, JPMorgan Chase, in a bid to stem further turmoil in the banking sector. Despite obtaining a $30 billion lifeline from 11 of the country’s largest banks in mid-March, the FRB failed.
Founded in 1985 and based in San Francisco, the FRB was the 14th largest U.S. bank with total assets of…
By Myriam Vander Stichele | Guest Blog | March 27, 2023
All around the world, people are increasingly using their phones or other mobile devices for payments and other personal financial activities. The digitalised provision of specific financial services is referred to as “fintech” and makes use of innovative software and technologies, mobile devices, the Internet, and various other technologies. Fintech has brought about new business models and is claimed to be causing a paradigm shift. However, citizens are hardly aware of the possible hazards for their finances and privacy,…
In its seven and a half decades of existence, questions regarding the legitimacy and democratic credibility of the multilateral trading system have often been asked on two fundamental grounds. The first stems from the questions regarding its internal legitimacy, essentially the transparency and inclusiveness of its decision-making processes. Questions regarding transparency have become more louder in recent decades, while issues regarding inclusiveness, especially from the point of view of the majority of its members, the developing countries have been…
By Dipankar Dey | Briefing Paper # 59 | January 26, 2023
Coined in 2013, China Plus One (C+1) is a global business strategy in which companies avoid investing only in China and diversify their businesses to alternative destinations. Officials and companies in Japan and the United States had begun mulling a diversification strategy away from China as early as 2008. However, it was only towards the end of the last decade, when US-China trade tensions were at their peak, that C+1 gained steam as an alternative strategy for transnational corporations (TNCs).
By Kavaljit Singh | Briefing Paper # 58 | December 28, 2022
On December 1, 2022, India took over the G20 presidency from Indonesia with the theme of Vasudhaiva Kutumbakam (One Earth, One Family, One Future). On that occasion, Prime Minister Narendra Modi authored an article in which he outlined India’s vision for the G20 presidency and pitched for hope, healing, harmony to deal with pressing global challenges.
In his article, the Prime Minister stated: “During our G20 Presidency, we shall present India’s experiences, learnings and models as possible templates for others,…
