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Why Janet Yellen’s frequent stops in India are important at a time of tensions with China
Why Janet Yellen’s frequent stops in India are important at a time of tensions with China
US treasury secretary Janet Yellen is back in India for the third time in nine months, this time to meet finance ministers from the Group of 20 nations about global economic challenges like the increased threat of debt defaults facing low-income countries. Ms Yellen will use her time in Gandhinagar to try to foster warming relations between the US and India. She also plans a stop in Hanoi, Vietnam, to address supply chain reliability, clean energy transition and other matters of economic resilience. Ms Yellen's goals for her time in India: press for debt restructuring in developing countries in economic distress, push to modernize global development banks to make them more climate-focused and deepen the ever-growing US-India relationship. Ms Yellen’s frequent stops in the country signal the importance of that relationship at a time of of tensions with China. India’s longstanding relationship with Russia also will loom as the Kremlin's invasion of Ukraine continues despite US and allied countries’ efforts to sanction and economically bludgeon Russia's economy. India has not taken part in the efforts to punish Russia and maintains energy trade with that country despite a Group of Seven agreed-upon price cap on Russian oil, which has seen some success in slowing Russia's economy. Still, the US increasingly relies on India and has courted its leaders. President Joe Biden hosted a White House state visit honoring Indian prime minister Narendra Modi in June, designed to highlight and foster ties. The two leaders pronounced the US-India relationship never stronger and rolled out new business deals between the nations. Raymond Vickery Jr, a policy expert on US-India relations at the Center for Strategic and International Studies, said Ms Yellen's coming to India shortly after visiting China is meaningful in that Indian officials “are going to want to know in great detail what happened in the meetings with her Chinese counterparts and see where it fits with their perspective on economic relations with China.” “They’re going to want to know whether or not the United States is serious about moving some of its sourcing activity from China to India.” A senior Treasury official, speaking on condition of anonymity to preview Ms Yellen’s trip, said there was hope that debt treatments for Ghana and Sri Lanka will be discussed and completed quickly at the meetings. Sri Lanka and Ghana defaulted on their international debts last year, roughly two years after Zambia defaulted. And more than half of all low-income countries face debt distress, which hurts their long-term ability to function and develop. Last month, Zambia and its government creditors, including China, reached a deal to restructure $6.3bn in loans, on the sidelines of a global finance summit in Paris. The agreement covers loans from countries such as France, the U.K., South Africa, Israel and India as well as China – Zambia’s biggest creditor at $4.1bn of the total. The deal may provide a roadmap for how China will handle restructuring deals with other nations in debt distress. Ms Yellen’s trip comes shortly after she spent a week in China, meeting the nation’s finance ministry and discussing mutual trade restrictions and national security concerns. Harold W Furchtgott-Roth, a senior fellow at the Hudson Institute, said Ms Yellen's trip to India “is a reflection of a naturally developing alliance.” “India has a great deal of tension with China – they have constant border disputes,” he said. “And India wants to develop and has developed into sort of an Indian Ocean naval power, which is also a region that China wants to develop." Read More What Britain needs is a ‘grown-up’ relationship with China US Treasury Secretary Janet Yellen visits China as part of efforts to sooth strained relations Yellen says Washington might 'respond to unintended consequences' for China due to tech export curbs Janet Yellen expresses hopes her Beijing visit has put US-China ties on a ‘surer footing’ Janet Yellen highlights record US-China trade and talks ‘fair rules’ during Beijing visit Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide
2023-07-16 19:11
Car crashes into elementary school in Wimbledon, London, in 'serious collision'
Car crashes into elementary school in Wimbledon, London, in 'serious collision'
A car has crashed into an elementary school in Wimbledon, southwest London, according to the city's Metropolitan Police force, who have described it as a "serious collision."
2023-07-06 19:15
"The Little Mermaid" makes box office splash with $95.5 million opening
Moviegoers wanted to be under the sea on Memorial Day weekend
2023-05-29 02:04
Apple’s China Troubles Catch Fund Managers Chasing Rally
Apple’s China Troubles Catch Fund Managers Chasing Rally
For months, megacap tech shares powered US stocks to dizzying gains. The market’s engine is now starting to
2023-09-08 18:04
Superman fans compare character's 'respectful' Smallville cameo to 'evil' Flash appearance
Superman fans compare character's 'respectful' Smallville cameo to 'evil' Flash appearance
Warning: This article does contain spoilers for The Flash (2023). If you are in any way interested in superheroes or movies in general you'll no doubt be aware that a new comic book film is being released this week concentrating on the DC character The Flash. It's the first time the scarlet speedster has ever been given a solo movie and despite the controversy surrounding the film's lead star, Ezra Miller, Warner Bros have invested a lot into making this a thrilling experience for fans. The premise of the film is a loose adaptation of the 2011 comic Flashpoint, where The Flash travels back in time to prevent the untimely death of his mother but inadvertently changes the future, as is often the case with time travel movies. As a result, Michael Keaton will be reprising his iconic performance as Batman, a character he hasn't played since 1992 with the likes of Michael Shannon also returning as General Zod and Sasha Calle also delivering a new take on Supergirl. However, people who have already seen the film have noted that several other iconic iterations of these famous characters also make appearances despite some of the actors having already passed away. Many of these are included in the film's climax and feature CGI incarnations of beloved actors like Christopher Reeve as Superman and Adam West as Batman. Other cameos include George Reeves as the Superman from the 1950s, Helen Slater from the 1984 Supergirl movie, Nicolas Cage playing Superman from the unreleased 1990s film and George Clooney reprising Batman from the much maligned 1997 Batman and Robin movie. While The Flash isn't the first movie to use this type of technology (numerous Star Wars titles have already recreated the likes of Carrie Fisher and a younger Mark Hamill for new stories) the use of Reeve's Superman has struck a particularly sour note due to both the messaging and the apparent ugly aesthetic. While Warner Bros is likey to have gotten permission from Reeve's estate to include his likeliness in the film many fans feel that it sets the wrong precedent given that the actor was left paralysed in 1995 before passing away in 2004. Fans of the Superman TV show Smallville have pointed to Reeve's cameo in the show in a 2003 episode which didn't hide his paralysis but respectfully recognised his contribution to the character's legacy and also allowed him to promote his paralysis charity. Ultimately, Warner Bros' owns the rights to Superman and essentially can do whatever they want to with the character but with the growing popularity of multiverses and an over reliance on nostalgia this type of thing will only become more and more common. One thing that we can hope for is that if the technology continues to be used then the tributes will be more tasteful and considered than this time around. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-06-16 00:16
US intelligence estimates 100-300 killed in Gaza hospital strike
US intelligence estimates 100-300 killed in Gaza hospital strike
The US intelligence community has estimated there were likely 100 to 300 people killed in the strike at the Ahli Arab hospital in Gaza, according to excerpts of a document seen Thursday by AFP -- far fewer than the nearly 500 deaths that...
2023-10-20 07:06
Fortnite Refer a Friend 3.0 Free Skin Leaked
Fortnite Refer a Friend 3.0 Free Skin Leaked
New leaks reveal Fortnite Refer a Friend 3.0 is coming with a free Rogue Madcap skin and matching cosmetics for players to earn as they complete challenges.
2023-09-19 23:47
Beyoncé's 'Renaissance' tour has begun. Here's what to know before you go
Beyoncé's 'Renaissance' tour has begun. Here's what to know before you go
It's finally time to unleash our inner alien superstars. Here's what "Renaissance" tour-goers need to know before the show hits their hometown.
2023-05-17 23:04
What are James Gunn's plans for DCEU? 'The Flash' erases 'Snyderverse' for new 10-year plan
What are James Gunn's plans for DCEU? 'The Flash' erases 'Snyderverse' for new 10-year plan
'The Flash' introduces James Gunn's first chapter of his 'Gods and Monsters' playbook that will guide the DC Universe under his reign
2023-06-16 14:30
Who is Cade Hudson? Britney Spears embrace bond with BFF, says he's in a 'beautiful place' amid Sam Asghari divorce
Who is Cade Hudson? Britney Spears embrace bond with BFF, says he's in a 'beautiful place' amid Sam Asghari divorce
Cade Hudson was an agent at the Creative Arts Agency before he started working for Britney Spears
2023-10-01 06:06
Ron DeSantis - Kim Reynolds Interview Derailed by 'We Want Trump' Chants
Ron DeSantis - Kim Reynolds Interview Derailed by 'We Want Trump' Chants
VIDEO: Ron DeSantis trolled by "we want Trump" chants at Iowa State Fair.
2023-08-14 01:30
Good neighbors: Bonobo study offers clues into early human alliances
Good neighbors: Bonobo study offers clues into early human alliances
Human society is founded on our ability to cooperate with others beyond our immediate family...
2023-11-17 03:21