Weekly Dossier – Trumps New Order to tensions in India china border
We all are in the middle of a pandemic and slowly the global economies are trying to recover from the damage that has been done by long lockdowns across nations. Now the recovery from the damages may take some time, the worry for the most is the loss of employment and how it is going to affect the public and economy of different countries.
The interesting thing every country is scared in this particular situation is the second wave of covid19. When the world already got wounds that take time to heal because of the covid19, the re-emergence of this virus will throw the economies of many countries to the worst scenarios.
New Zealand which has announced covid19 free has opened its markets and removed all the restrictions. But to its shock new positive cases have been identified in the country. These brought new tensions to the country. The prime minister of New Zealand has said that these new cases are a result of the negligence of the highest order. Even in China, many new cases are reported. These all combined making the nations worry more which at this time not yet recovered from the existing cases.
Now when it comes to the D-street in India. The markets are of course unpredictable. We have closely monitored the situations such as Border tensions between India and China, the number of covid19 cases daily and the news on covid19 vaccines. The markets were almost flat in the week. Few days they were in positive and few days they were in negative.
Now when it comes to the articles we have covered, the below are the things we have brought to you.
Our biggest coverage is the India’s move to counter china. This is our most highlighted topic this week.
The path towards self-reliance
The relation between India and China is at an all-time low. There is tension across the border between the two nations. Indian army has been given the power to give a befitting reply if any cross border activity is observed by the Chinese People’s liberation army. The reason for all this is the Galway incident that happened last week which resulted in the Marty of 20 Indian soldiers.
Now we don’t know the casualties on the china side and we don’t expect the government to come up with the number of casualties, as the history tell us that government of China is known for hiding information. But reports by different news agencies tell us that there are more casualties on the Chinese side.
But India has taken this issue seriously. The tag line #Boycottchina become a slogan since the event has happened. Every Indian has come out and spoke about the importance to reduce our dependence on China. And we already know about the different Chinese apps that are under pressure as people of India are against those. Read full article
Uncertain future on Trumps new move
President of United States Mr Trump has signed an order extending the previous order of restricting the people to the country until the end of December this year. This order has in the middle of the fight against Coronavirus and many people are stuck in home countries and unable to go back to the US for work. This order reportedly has been taken to help the citizens of the United States in securing the jobs in comparison to foreigners.
On Tuesday 23rd June, Donald Trump has taken a decision to restrict people coming to the US for work. Previously in the middle of the coronavirus, Trump has issued an order that all the WOrking people Outside US will not be able to come back to the US for a period of 60 days. This decision was reportedly taken to protect the domestic people from coronavirus and also to help domestic working people to secure jobs on priority to foreign working people. But now this 60 days period was extended till the End of this year. Read full article
Global Debate on Digital Tax
Today we bring you the most debated and controversial topic on the international platform, Digital Tax. Taxation by law is most debated in the context of international companies and services. Most of the countries feel that they are losing the tax revenues and other countries won’t agree to international laws because they will be at the losing end of tax revenues.
We clear all the debated topics about this Digital tax. Let’s make it clear what is digital tax. Now consider a manufacturing company in India. The company is producing products and it will pay taxes to the government on the profit of those products. And if these products are sent to other countries, it needs to pay import and export duties if present any in the concerned countries. Read full article
Reconsidered Generalized System of Preference
United States government is mulling again over the reconsideration of Special status to India in the GSP system. If this preference is given to India, then India will have no tariffs on a few products that were imported to the US. This will help in the growth of India’s Exports. How in this context lets analyze what is GSP and why this is important for India.
What is GSP? GSP is a preferential tariff reduction method which reduces tariffs on various products that are imported by the US. This was introduced to promote trade relations with its members by providing reduced tariffs on the products. This simply means that different countries will have different tariffs when it comes to GSP. A country which has GSP status will have fewer tariffs when compared to the country which is not given GSP status by the US government. Read full article
Now the news is completely filled with news that is about covid19, border tension and other things. Everything just makes us feel 2020 is not good. But believe us that we will come out of this together successfully. Time is what it takes at the end. We have been hearing a lot of disappointment about the uncertain future from many of our followers. so we just want to highlight that time right now is bad but it is supposed to change now of then.
Until then see you in next article…
Keep an eye on our Week Ahead article