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Showing posts from May, 2020

The Kalapani Imbroglio

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The new political map of Nepali comprising of the disputed lands of Kalapani, Limpuyadhura, Lipulekh, published on May 20, 2020. Photo: Nepal government The dispute over Kalapani, between India and Nepal, was revived in November 2019 when India published a political map showing the newly created Union Territories of Jammu & Kashmir and Ladakh. Both India and Nepal claim to Kalapani. On May 8, India inaugurated 80 km Darchula-Lipulekh pass link, cutting across the disputed Kalapani area, which is used by Indian pilgrims to Kailash Mansarovar. On May 22, Nepal has released a new political map that claimed Kalapani, Limpiyadhura, and Lipulekh of Uttarakhand as part of Nepal's territory. The area of Susta (West Champaran district, Bihar) can also be noted on the map. Kalapani territory is an area under Indian administration as part of the Pithoragarh district in Uttarkhand state but is also claimed by Nepal. It also shares a border on the north with Tibet Autonomous Region ...

Population and Economic Growth

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The twin relationship between population and economic growth has always been a subject of great interest to economists, as population is a resource that supplies the labour force needed for industrialization that symbolises economic growth. However, it is an established principle that labour alone cannot produce anything without the help of other resources. If other resources needed for production are available in sufficient quantity, then a larger lobour force could become a productive asset of a country. Growth Rate of Population At any point of time, all countries have some people living there, the number of these people constitutes the size of population of that country at that time. This number, however, keeps on changing continuously through birth, deaths and immigration. Therefore, increase in the number of people during a fixed period of time, in a country, is called the growth rate of population. The rate of growth of population during a period is estimated as the rati...

The electronic Renminbi (e-RMB)

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Basics of Chinese Currency RMB is an abbreviation for 'Ren Min Bi', which means 'People's money' . Yuan is the base unit of RMB just as Dollar in USD. (1 RMB = 10 jioa = 100 fen) Chinese money comes by two names: Renminbi is the name of the currency and yuan refers to its primary unit. Renminbi is the official currency of China and act as a medium of exchange, but the yuan is the unit of account of the country's economic and financial system. Reasons behind launching e-RMB Replacing the dollar - A soverign digital currency provides a functional alternative to the dollar settlement system and blunts the impact of any sanctions or threats of exclusion both at a country and company level. China has successfully achieved Trade Globalisation, Economic Globalisation, and Military and Geo-strategic Globalisation, but it has failed to achieve Financial Globalisation. Without Financial Globalisation it is not possible to replace the Dollar as the World...