Revitalising regional trade networks will help maintain peace and stability in the Indian Ocean. Explain (200 Words)
Refer - The Hindu
Enrich the answer from other sources, if the question demands.
IAS Parliament 12 days
KEY POINTS
· The resilience of the Indian Ocean rim ports and their hinterland is because of their smallness.
· Their small boats, dhows and dhonis, increased and decreased in tonnage depending on the trade available.
· The recent Chinese attempts to consolidate the Indian Ocean trade routes under the road and belt initiative are yet to materialise.
· Host countries of the Belt and Road ports have gone or are going bankrupt, defaulting on their sovereign debt.
· Sri Lanka has gone into default, East African port countries look shaky, and Pakistan stands on the brink of sovereign default.
· There might be an argument for economies of scale and mega ports. This argument rarely holds water when robust small units with more flexibility and agility produce more inclusive and sustainable returns.
· Attempts to restructure the debt of the Indian Ocean port cities and proceed with the same mega infrastructure programmes must not be the future vision of the Indian Ocean states.
· Commodities to trade are in abundance. Ship type, wind and fuel hybrid propulsion can bring in more efficiencies.
· Revitalising regional trade networks will be for the advantage of not only the port city economies in distress but also to maintain peace and stability in the Indian Ocean.
Aravind R 13 days
Kindly review this mam/sir
IAS Parliament 12 days
Try to include about BIMSTEC and IORA briefly. Keep Writing.
Ravi sk 13 days
review sir
IAS Parliament 13 days
Try to include data to support your arguments and include about Information fusion centre, BIMSTEC. Keep Writing.
Tapasvi 13 days
Kindly review
IAS Parliament 13 days
Try to include about BIMSTEC, Information fusion centre. Keep Writing.
K. V. A 14 days
Kindly review
IAS Parliament 13 days
Good attempt. Keep Writing.
