FROM EDITOR's-aug-oct2010

Editorial Thoughts Dear Reader, We are delighted to present the latest issue of the ICEC newsletter focusing on the impact and implications of the global financial crisis for India and China. A year after the outbreak of the crisis, both countries are trying hard to cope with the emerging challenges in their domestic economies as well as in the global arena.

As the two republics enter the sixth decade of their formal diplomatic relationship, both are well positioned to redefine bilateral ties in the backdrop of radical changes in the international order. The financial meltdown has firmly established the dominance of the Chinese and Indian economies, which have remained resilient while the leading Western economies and their financial institutions have come to a screeching halt. The message is loud and clear: the two Asian giants have come of age. Both realize the criticality of cooperation and collaboration for maintaining their ascendancies. The rich dividends that can be reaped from greater engagement are visible from the spectacular increase in bilateral trade that has led to China displacing the US as India’s largest trade partner.

This issue pays special attention to the role of the global financial crisis in shaping the new world order from Chinese and Indian perspectives. The public policy challenges facing Asia after the crisis are outlined by Dr Tony Tan Keng Yam, Deputy Chairman and Executive Director, Government of Singapore Investment Corporation.

The multiple strategic aspects and outcomes of the crisis are analyzed threadbare by Dr Iftekhar Ahmed Chowdhury, former Foreign Minister of Bangladesh. Mr P.S. Deodhar, President ICEC Council elaborates the pressing development agendas for the two countries. The remaining articles examine further implications of the crisis and varied aspects of Indo-China economic engagement.

In order to further enrich the discourse on the global financial crisis and its ramifications on India and China, ICEC is organizing a conference for analyzing the impact of the crisis on the financial sectors of both countries. The initiative will bring together a large assembly of academic experts and finance practitioners from both countries for extensive interface.

Our readers would find that the newssletter has been titled afresh as India China Chronicle. We intend to expand the scope of this newsletter by increasing the number of scholarly contributions and articles on China, India and different aspects of their relationship. The current issue marks a beginning in this direction. We welcome your contributions. Team ICEC eagerly looks forward to your valuable comments and feedback.

Warmest Regards, Parama Sinha Palit, PhD