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Our Bureau   Hyderabad | Updated on  November 19, 2019   Published on  November 19, 2019 YV Reddy, Former RBI Governor   -  G_RAMAKRISHNA Recent developments in China, Iran and the Middle East have the potential to generate two types of shocks — oil price and capital flows — and India is vulnerable to both, according to YV Reddy, former RBI Governor. Reddy said: “there is a bipolar world with the US and China leading each block. The difference between old and new bi-polar world is that China and America have close economic integration. This complicates the fight for supremacy.” Speaking at The Leadership Conclave hosted by The Institute for Advanced Studies in Complex Choices, in association with XLRI, Jamshedpur, on The Growth Paradox: Resolution through Changes in Frames for Choice, Reddy said there are people who believe in three possible outcomes. First, good sense prevails and multi-lateralism will be re-established. Second, Thucydides phenomenon will assert

D Ravi Kanth  Geneva | Updated on November 19, 2019  Published on November 19, 2019 The US offers to organise a workshop to assess the implications of electronic transmissions in return for extending the moratorium  India and South Africa have adopted a tough stand against the current moratorium on levying customs duties on electronic transmissions at the World Trade Organization, forcing the US to come to the negotiating table for the first time, said trade envoys. The existing moratorium will expire at the end of next month, unless it is extended for another six months. The moratorium has been extended since 1998 on a biennial basis at every WTO trade ministerial conference. At a meeting of the WTO’s informal General Council on Monday, the US offered a quid pro quo for extending the e-commerce moratorium by six months until the World Trade Organization’s twelfth ministerial conference in Nur Sultan, Kazakhstan, in June 2020. In return, the US has indicated that