Trade, not war
After around two years of disruption, aggravated by Donald Trump’s assumption of office as the US president, the world seems to be tentatively coming around to some form of stabilization. After the unlikely ceasefire between Iran, Israel and the US, Trump administration is working to conclude trade agreement with China and India. In fact, a framework for such an agreement has already been agreed upon with Beijing. Both countries have publicly confirmed the deal, calling it a step toward easing restrictions and boosting exports. If concluded, the pact will be a tremendous boost for the global economy.
Similarly, the ceasefire with Iran has brought some stability to Middle East. Now, there is also the talk of a truce in Gaza. Trump has hinted at a ceasefire agreement being in the works, which may be concluded in this week. Should this hopefully happen, this would end an ongoing catastrophe whereby a genocide is being livestreamed to the world on a day to day basis. On Russia-Ukraine front, the US-led diplomatic efforts to end the war have so far been unsuccessful. So, signs of calm are emerging on multiple fronts - from talk of ceasefires in conflict zones to progress in high-stakes trade negotiations. This is offering a rare window of optimism in an otherwise volatile decade.
Closer home, India and the US appear to be moving in a similar direction. Finance Minister Nirmala Sitharaman, in a recent interview, said India would “love to have a big, good, beautiful” trade pact with the US.
While she made it clear that agriculture and dairy remain red lines, her tone suggested a shift towards pragmatism, one that aligns with India’s long-term growth ambitions.
However, as the cliche goes, there are still many a slip between cup and lip. There may still be some reversals. But should these initiatives come to fruition, this will stabilize the world after an extended period of disruption. Here’s hoping that this movement towards addressing ongoing geopolitical and economic conflicts stays not just on course but also succeeds.
