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There is an upsurge in military expenditure all over the world which is spearheaded by the upsurge in Europe. Of course there are different estimates of military expenditure, depending on what one includes under this heading. We shall, in what follows, take the estimates of the Stockholm International Peace Research Institute (SIPRI) for our analysis. According to SIPRI, while there has been an increase in real military spending each year for the last ten consecutive years, the increase in this spending in 2024 over the previous year, at 9.4 per cent, was the highest annual increase for any year since the end of the Cold War. The total global military expenditure in 2024 was as much as $ 2.718 trillion.

Leading economist and professor emeritus at Jawaharlal Nehru University Prabhat Patnaik has likened the weaponization of tariffs by the US President Donald Trump to beggar-thy-neighbour policy for naked aggrandisement of his country’s business and commerce. Rarely used by major countries, the policy is tantamount to building protectionist walls mainly through unreasonably high tariffs (remember India is still to live down the image of a ‘tariff king’ despite the process of lowering of import duties began following 1991 reforms), import quotas and subsidisation of exports. Giving protection to domestic industry overtly and covertly as China is widely accused of doing, militates against the principles of free trade. It also is an antithesis of what all the World Trade Organisation (WTO) stands for and the spirit of trade negotiations among countries for improved access to each other’s market.

The Israel-Iran war which entered its eighth day on Friday June 20 witnessed some major developments in the last 24 hours frustrating Tel Aviv’s desperate bid to speedily finish off its task of destroying Iran, especially Teheran. Chinese President Xi Jinping talked to Russian President Vladimir Putin late Thursday on the joint strategy to deal with the war. They came out with the strongest condemnation of Israeli attack so far and asked President Trump not to join Israel in the ongoing war against Iran. China also suggested a four point formula for immediate ceasefire and starting of negotiations to solve Iran’s nuclear power issue.

NEW YORK: The Talk of the Town. Much chest thumping in Pakistan. Lots of analysis and hypotheses in Indian publications. The subject matter is of course the much-hyped Trump’s invite to Field Marshal Asim Munir, who is licking his wounds after the operation Sindoor, (GOK why he became field marshal), his trip to Washington DC to have the celebrated lunch with US President Donald Trump.

KOLKATA: The Muhammad Yunus-led interim government in Bangladesh may take a firm stand against Indian government for 'pushing in' hundreds of people without citizenship or other identity, into Bangladeshi territory : Dhaka's recent letter to India on this issue, urging upon Delhi to follow standard operating procedures (SOP) regarding the repatriation of unwanted citizens,, had been too mild, according to Bangladeshi opinion makers. Bangladeshi official sources said that over 1500 people including women and children had been deported by India in recent weeks. However, according to unofficial accounts, over 2000 people had been pushed back from India to Bangladesh in recent weeks.

LONDON: The spectre of the Iraq war is hanging heavy over Keir Starmer today. The Prime Minister opposed that act of criminal aggression at the time, at least in part because he knew that Tony Blair was acting in flagrant violation of international law in invading a sovereign state to change its regime.

NEW YORK: Suspense mounts over when the US will join in Israeli pounding of Iran to completely destroy its nuclear facilities., one thing standing in the way is the Fordow facility, deeply embedded in a mountainous region virtually in the under belly which Israel cannot reach on its own – it does not have the air borne or strike capability to take out this enrichment facility.

Two telephone calls that shook me and are still haunting were that I made to my acquaintances today. I could feel the anguish when I called my friend in Srinagar whose son is studying medicine in Tehran and with whom they are not having easy contact in the present situation. The family is much worried about his welfare but find them-selves helpless. They had not expected Israel’s attack on Iran since the negotiations about Iran’s nuclear programme were going on between the US and Iran.

NEW YORK: For the past two decades, disastrous Middle East wars have been synonymous with the name of Bush. The current US president seems determined to now make them synonymous with the name Trump.

Global progress towards secure, equitable and sustainable energy is accelerating after years of sluggish gains, according to a World Economic Forum report released on June 19 in Geneva. However, rising geopolitical tensions, investment gaps, and a growing disconnect between clean energy innovation and deployment where it is needed most threaten to undermine momentum.