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This chapter seeks to analyze the development across the length and breadth of the Indian financial system in the post-reform period, based on the “flow of funds” accounts estimates by RBI. Besides, this chapter also analyzes the integration of the Indian capital market with the stock markets of the United States, the United Kingdom, Japan, China, Hong Kong, and Singapore using the movements in their stock prices during 1998–2015. Moreover, this chapter is intended for examining the potential implication financial integration, particularly the financial openness of India, on volatility spillover and financial contagion in as much as these two issues have emphatic significance in the determination of the relevant policy roadmap. Our findings broadly confirms the expectations by revealing significantly positive correlations in stock prices, in returns to investments in stock markets, and in mean returns and risk. The integration of the capital markets is also manifested in the cyclical fluctuations of the stock price indices, signifying the underlying sensitivity to random shocks.

This chapter elaborates on the perspectives of financial development of countries of Central Asia and China through cooperation with Russia. The authors determine financial resources for the development of the countries of Central Asia and China and figure out possible scenarios for attracting additional financial resources and conclude that financial resources have a decisive role in socioeconomic development. It is substantiated that the increase and expansion of cooperation with Russia are the preferable scenario for attracting additional financial resources. The authors recommend expanding cooperation with Russia within the implementation of the selected optimal scenario are given.

Trade war among the nations dates back mainly to the nineteenth century. Some of the trade wars may be cited as (i) The First and Second Opium War Empire between 1839 and 1842; (ii) The Smoot-Hawley Tariff Act, 1930 signed by US President Herbert Hoover; (iii) Chicken wars in the early 1960s; (iv) The US–Japan automobile trade war in the 1980s; (v) 1985 Pasta War between America under the Regan Administration of United States and Europe; (vi) The Banana wars. However, trade becomes more intense in the present century with the increase of the economic trade instruments. Under the Obama Administration, currency war and tariff war both became strong between the United States and China with intense effect over the globe. After the Obama regime, came Donald John Trump with a number of controversial (aggressive) trade protectionism plans saying thereby “China’s accession to the World Trade Organization has enabled the greatest jobs theft in history” and “Trillions of our dollars and millions of our jobs flowed overseas as a result.” Even during the COVID-19 period in the 2020s, threats and counter-threats have been on the ascend. It is in this backdrop the present chapter mainly traces the history of trade wars in the twenty-first century, touching upon the nineteenth and twentieth century trade battles.

Achieving Sustainable Developments Goals (SDGs) is main agenda of any democratic government. The demand for needs of the society is increasing day by day due to increasing globalization and rapid transformation in all spheres of the society, and as a result, agriculture has shifted from a situation where food is primarily considered as a national concern with high self-sufficiency goals to a situation, where food can be traded subject to high degree of vertical integration of value chain. This study attempts to examine first, how far the state Tripura has developed toward to achieving its SDGs; so that Central dependency of the state would be reduced; second, the impact of globalization on its sustainable development; and, third, the possibility of development in different sectors of the economy toward fulfilling the SDGs through globalization. It observes that the state is in the take-off stage; it needs to go long way to make it developed. The state has lot of potentialities for its sustainable development.

The US–China conflicts surrounding the imposition of tariffs have caused a stir in the global markets. Various attempts have been made to understand the rationale and causes as well as its impact on the various ­aspects of the international market. There are many unanswered questions pertaining to China’s emergence as a global superpower and the ­possible threats that it poses to the Western dominated market. Based on this background, the chapter is an attempt to investigate the impacts of the Economic Policy Uncertainty (EPU) of the United States and China on three most important global markets, namely, crude oil, credit market, and commodity ­market. To attain the objectives of the chapter, the study has utilized Vector Auto Regressive model and has analyzed the results. The study concludes that China’s EPU has lesser impact on the global market as compared to the US EPU. On the basis of the results obtained, few policy implications have been proposed.

Following the financial crisis, across the Western world, defense budgets have undergone substantial and far-reaching cuts. But in the emerging markets there has been a significant rise in defense expenditure (DE). Countries such as China, Brazil, and India have doubled or even tripled their defense spending during the past two decades. It has been generally argued that terrorism can potentially affect economic growth adversely in the short run through a number of channels. Terrorist attacks can increase uncertainty which limits the scope for domestic investments and also diverts foreign direct investment. In order to mitigate terrorism, increased government spending on security can crowd out more growth-enhancing public and private investments in social sectors such as health and education, which in turn may affect the long run growth of a nation. Terrorism also hinders growth by raising the cost of doing business in terms of higher wages, larger insurance premiums, and greater security expenditures. These higher costs result in reduced profits and, thus, smaller return on investment. Terrorist attacks can also destroy infrastructure, thereby leading to business disruptions. This study attempts to examine both the short- (SR) and long-run (LR) associations among terrorism, DE, and its impact on GDP taking time series evidence, using autoregressive distributed lag model (ARDL) model from some selected countries of Asia – India, China, Bangladesh, and Pakistan – during 1990 to 2014. The results show that there are LR associations among the three variables for Pakistan only.

Cybersecurity and data protection concerns have gained notoriety in past years intensified by the Facebook-Cambridge Analytica “scandal” in early 2018, which exposed millions of individual data. This case revealed that both regulatory measures and data protection mechanisms were, and still are, insufficient, with several countries reforming or promulgating new legislation. The Article 19 EU General Data Protection Regulation (GDPR) contains controversial extra-territorial provisions, which might violate State Sovereignty principles. It is still unknown how the GDPR will be implemented. This chapter reveals data protection as an Ethics discipline, considering that it is a fundamental right of individuals to share or not to share data, vis-á-vis the rights to have the personal data well-protected. The empirical research will be developed based on the need to build up a concept of Responsible Entrepreneurship in the technology sector, applied to cross-border e-commerce. The Digital Silk Road is the case study selected since it represents a complex international cooperation initiative done without institutionalization yet with eminent data surveillance concerns when building network infrastructure and satellite navigation systems.

Of late, the ongoing trade war between the two most powerful economies of the world – United States and China – has placed both the countries on a horrid front, breaking the world’s most important bilateral relationship of the twenty-first century. Their failure to reach a concrete agreement on mutual benefit on matters related to growing hefty amount of China’s current account surplus of balance of payments (BoP) and endangering United States to create jobs on its side, China’s use of illegal and unfair methods to acquire rights on intellectual property and US technology at an effectively discounted price; and also the concern that China by hook or by crook seeks to weaken the US economy has made matters worse. It is in this context the chapter analyzes the trade tensions between them and the context under which it came to the fore and with what outcomes. The analysis recommends interventions of the global leaders to mitigate the issues for the betterment of the world economy.

The chapter analyzes the modern features of the movement of foreign investments and the participation of the Republic of Belarus in this process. Trends in foreign direct investment (FDI) flows in the context of different countries and the structure of investment capital in our country have been considered. A greater priority in attracting investments in large projects in the form of equity participation compared to debt instruments and profits refinancing has been justified. The largest projects with foreign investments as well as features of outgoing FDI have been considered. The activities of foreign transnational corporations and the factors hindering the internationalization of business activity of domestic enterprises have been studied in detail. The priority areas of government in activities to promote the attraction of FDI to the Republic of Belarus have been analyzed.

China’s unprecedented emergence as an economic and political power has created a new geopolitical economy for semi-industrialised and developing economies in Southeast Asia. This paper examines China’s trade relationships with Thailand and Indonesia using the concepts of uneven and combined development (UCD) and unequal exchange. The mass of surplus value obtained through China’s trade with the developed economies has flowed into the considerable expansion in China’s imports from developing countries since 2000. China has maintained a consistent trade deficit with the latter. While the developing countries concerned have benefitted from this set of relationships, the extent to which they have done so has been determined by national strategies. In countries like Thailand – where manufacturing capital and a significant working class has emerged – exports expanded on the basis of mutually advantageous technologically and skills intensive goods. These are produced with a similar organic composition of capital as in China. The result has been a further consolidation of the hegemony of manufacturing capital. Indonesia, however, has a political system and economy long dominated by resource exploitation linked fractions of capital. The result has been a surge in primary goods exports. The current commodity price cycle has meant these goods exchange at prices above their value. The current looming price correction, however, may have negative repercussions. In the meantime, the concentration in raw materials exports is helping to prevent the emergence of a circuit of productive capital in manufacturing. The evidence from these contrasting cases suggests that the degree to which developing economies can benefit from China’s own historically unparalleled combined development remains highly contingent on the strength of the combined development possibilities and efforts within these other national social formations. Above all, there is the degree to which manufacturing sectors of capital can obtain hegemony.