World News - Latest International News - Europe is Still Superpower
1.Today Europe as a collective power, is in great decline, while the United States the worlds
Largest economy is struggling to avoid growth contraction. It is in light of this global scenario that
Economic actions of India and China assume great significance.
Increased prosperity, European Imperial powers further exploited the resource rich Dark Continent.
It is in fact that Persian Gulf holds a little over 55% of global crude oil reserves. However, what
Is also true is that the oil and gas supplies from this region have to pass through the Strategic
Strait of Hurmuz, which is seen by Iran as its backyard.
2.Different Approaches to Business
When it comes to India’s business policy in Africa, it is the private sector, ably backed by the
Government of India, which has intensified the country’s economic engagement with Africa.
India’s approach has focused on capacity building and human resource development
Both of which lead to local economic development through employment generation. This
Has helped India earn the goodwill of not just the people in African states but also their
Governments. Take the case of Airtel (Bharti Group) which a few years back acquired the African operations of Zain Telecom. It did not disturb the employment structure in the company and employs local people wherever it sets up new operations.