How the Quadrilateral Forum can defeat China in its own game??
In this video, we will discuss the key challenges before the Quad forum.
References -
http://www.dailymirror.lk/article/How-can-Sri-Lanka-gain-from-Asia-s-noodle-bowl-of-regional-infrastructure--139204.html
http://indianexpress.com/article/india/japan-to-chair-first-quadrilateral-meeting-in-manila-next-week-pm-modi-asean-east-asia-summit-4930644/
http://www.asianage.com/india/all-india/101117/pm-modi-to-attend-asean-november-14-quad-meet-on-sidelines.html
http://www.thehindu.com/opinion/lead/beyond-big-game-hunting/article19988330.ece
--------------------------------------
Transcript -
Hello Friends, I welcome you with a new video on my channel Real Quick Info.
We hope, you will like this video. Please Let us share Real Quick Analysis with you in future as well, so please subscribe our channel Real Quick Info. Please don't forget to click on Bell icon as well to get notification, as soon as we upload interesting new video.
Now Lets discuss about today's topic.
You might know, Prime Minister modi is going to interact separately with US President, prime ministers of Japan and Australia during the East Asia summit in between 12 and 14 November.
Interestingly, India seems to have accepted the invitation to join the Japan-proposed and U S-endorsed plan for a “Quadrilateral” grouping including Australia to provide alternative debt financing for countries in the Indo-Pacific.
While there was proposal to have Summit level meeting in between head of states of four countries. Recalling what happened to such proposal in the past, In fact no one is sure how this group will work, it was felt to first meet at the working level including senior foreign ministry officials of all four states. Japan is going to chair this meeting.
As far as we think, its good decision to hash out the details first and get the initial commitment from all four nations.
Once heads of all four states assemble under one roof for one purpose, it will be globally watched event and china will feel the heat as well. Of course there will be no going back from that point. Importantly, this time Australia cannot be allowed to succumb to Chinese pressure again.
But when the leaders of the Quad are going to separately meet in bilateral settings, its very important to arrive at broad understanding. Without buy in from top leadership of all four nations, such diplomatic effort may not make much head way.
Very significantly, Asia needs $2.5 Trillion for infrastructure development between 2016 to 2030. In front of this demand, China has made commitment to provide total $269 Billion for its Belt and Road initiative. We all are very aware of Chinese massive investment in this.
What we ignored, that Japan has also offered $100 Billion financing as its Expanded partnership for Quality Infrastructure.
Now look at this, in front of demand of 2.5 Trillion, there is supply commitment for only $369 Billion. Hence, there is huge gap to fill in, thats where the quadrilateral forum will fall in.
Given that Japan has already came up with its partnership for Quality Infrastructure, there is need to streamline all of the efforts to gain maximum results.
This time It appears, Quad is going to form, therefore we need to be aware of risk of creating 'noodle bowl phenomenon'. Given that China has already advanced way ahead in this space. the members of the quad must avoid the situation, in which growing number of overlapping infrastructural projects compete for the same market, and end up into wastage caused by over supply.
'noodle bowl phenomenon is very much relevant in case of Belt and Road Initiative and Asia Africa growth corridor.
There is huge scope for development in Asia, hence the Quad needs to put the money where it matters most, thus adding maximum value possible.
Only if the quad invest in self sustainable project, it will be able to fulfill enormous Infrastructural financial needs of Asian countries in the long term.
One of the biggest problem with earlier financing options was, it used to be very time consuming to secure financial aid or loans, In the form of OBOR, China has essentially taken long term view on each project and provided quicker and bigger loans on higher interest rates.
Needless to say, Whatever Financing option The Quad comes up with, we need to make best offer.
Once Asian countries have choices, they will make the best decision. Right now there is only one choice, and China has successfully exploited it. Sadly, we are very late in the game.
Hence, there is no point in blaming China for how it plays the game. the time has come to change the game itself.
As per your views, should India stay away from The Quad to appease China?
Please let us know your views in comment section. For this video we have referred a few online articles. you can find their links in the description box below. Friends, we Thank you for watching this video
Tags
The Quad
Quadrilateral Forum
What is The Quad,
What is The quadrilateral Forum,
Why Quad is needed,
Why The Quadrilateral forum is needed,
Modi in East Asia Summit,
Modi Trump meeting in East Asia Summit,
Modi Abe meeting in East Asia Summit,
First Quadrilateral forum meeting during East Asia Summit,
What is Expanded partnership for quality Infrastructure,
What is partnership for quality Infrastructure,
partnership for quality Infrastructure,
East Asia Forum,
Narendra Modi
We hope, you will like this video. Please Let us share Real Quick Analysis with you in future as well, so please subscribe our channel Real Quick Info. Please don't forget to click on Bell icon as well to get notification, as soon as we upload interesting new video.
Now Lets discuss about today's topic.
You might know, Prime Minister modi is going to interact separately with US President, prime ministers of Japan and Australia during the East Asia summit in between 12 and 14 November.
Interestingly, India seems to have accepted the invitation to join the Japan-proposed and U S-endorsed plan for a “Quadrilateral” grouping including Australia to provide alternative debt financing for countries in the Indo-Pacific.
While there was proposal to have Summit level meeting in between head of states of four countries. Recalling what happened to such proposal in the past, In fact no one is sure how this group will work, it was felt to first meet at the working level including senior foreign ministry officials of all four states. Japan is going to chair this meeting.
As far as we think, its good decision to hash out the details first and get the initial commitment from all four nations.
Once heads of all four states assemble under one roof for one purpose, it will be globally watched event and china will feel the heat as well. Of course there will be no going back from that point. Importantly, this time Australia cannot be allowed to succumb to Chinese pressure again.
But when the leaders of the Quad are going to separately meet in bilateral settings, its very important to arrive at broad understanding. Without buy in from top leadership of all four nations, such diplomatic effort may not make much head way.
Very significantly, Asia needs $2.5 Trillion for infrastructure development between 2016 to 2030. In front of this demand, China has made commitment to provide total $269 Billion for its Belt and Road initiative. We all are very aware of Chinese massive investment in this.
What we ignored, that Japan has also offered $100 Billion financing as its Expanded partnership for Quality Infrastructure.
Now look at this, in front of demand of 2.5 Trillion, there is supply commitment for only $369 Billion. Hence, there is huge gap to fill in, thats where the quadrilateral forum will fall in.
Given that Japan has already came up with its partnership for Quality Infrastructure, there is need to streamline all of the efforts to gain maximum results.
This time It appears, Quad is going to form, therefore we need to be aware of risk of creating 'noodle bowl phenomenon'. Given that China has already advanced way ahead in this space. the members of the quad must avoid the situation, in which growing number of overlapping infrastructural projects compete for the same market, and end up into wastage caused by over supply.
'noodle bowl phenomenon is very much relevant in case of Belt and Road Initiative and Asia Africa growth corridor.
There is huge scope for development in Asia, hence the Quad needs to put the money where it matters most, thus adding maximum value possible.
Only if the quad invest in self sustainable project, it will be able to fulfill enormous Infrastructural financial needs of Asian countries in the long term.
One of the biggest problem with earlier financing options was, it used to be very time consuming to secure financial aid or loans, In the form of OBOR, China has essentially taken long term view on each project and provided quicker and bigger loans on higher interest rates.
Needless to say, Whatever Financing option The Quad comes up with, we need to make best offer.
Once Asian countries have choices, they will make the best decision. Right now there is only one choice, and China has successfully exploited it. Sadly, we are very late in the game.
Hence, there is no point in blaming China for how it plays the game. the time has come to change the game itself.
As per your views, should India stay away from The Quad to appease China?
Please let us know your views in comment section. For this video we have referred a few online articles. you can find their links in the description box below. Friends, we Thank you for watching this video
Tags
The Quad
Quadrilateral Forum
What is The Quad,
What is The quadrilateral Forum,
Why Quad is needed,
Why The Quadrilateral forum is needed,
Modi in East Asia Summit,
Modi Trump meeting in East Asia Summit,
Modi Abe meeting in East Asia Summit,
First Quadrilateral forum meeting during East Asia Summit,
What is Expanded partnership for quality Infrastructure,
What is partnership for quality Infrastructure,
partnership for quality Infrastructure,
East Asia Forum,
Narendra Modi
टिप्पणियाँ
एक टिप्पणी भेजें