Indo-American Relations from the Perspective of Economic Interdependence (1990-2015)

Document Type : مقالات

Authors

• Seyyed Jalal Dehghani Firouz Abadi
• Hossein Salimi
• mohammad hossein monadizadeh

Allameh Tabataba'i Univity Tehran

https://doi.org/10.22067/jipr.v7i2.71114

Abstract

Abstract
 An assessment of the developments in Indo-American relations reveals the numerous ups and downs in the relations between the two countries. Since 1990 and after developments in the global economy and adoption of a market-based economic policy by India, however, New Delhi has moved toward restructuring its relations with Washington. In addition, the US policy of developing economic relations with emerging economies during the Clinton’s administration paved the way for Washington to reorient its perceptions toward India. Despite political and strategic considerations of George W. Bush’s administration and later developments in mutual relations between the US and India, any long-term perspective of cooperation between the two countries should concentrate on economic and strategic objectives. Based on this argument, the present article has endeavored to take advantage of qualitative methodology in order to analyze the relation between economic convergence and strategic logic which has not only resulted in the enhancement of economic flourishment but also has strengthened the strategic objectives of the two countries. What are the effects of global economic developments on the Indo-American relations? In answering this question, we can raise this hypothesis that economic developments and global markets have resulted in interdependency and proximity between India and the US. They have also contributed to further flexibilities by both countries while highlighting the importance of alliances for attaining strategic objectives. The findings of the article indicate that the United States’ need to international partners for creating supporting associations and the India’s efforts to obtain strategic autonomy through cooperation with the US and, concurrently, immunization of this restructuring by embarking on closer relations with other countries is tantamount to interdependence and unprecedented expansion of relations between New Delhi and Washington. 

Keywords

• Indian-United States Relations
• Economic Interdependence
• Strategic Interests
• Emerging Powers
• Emerging Economies

References

References

Ahearn, R. J. (2011). Rising economic powers and the global economy: trends and issues for congress, Congressional Research Service (CRS), August 22.

Ahuja, S. et al. (2006). Economic reform in India. The University of Chicago. http://unpan1.un.org/intradoc/groups/public/documents/apcity/unpan048616.pdf

Baldwin, D. A. (1980). Interdependence and power: a conceptual analysis. International Organization 4(34).

Banerjee, S. (2015, March 9). India and the United States: strengthening the partnership. ICWA Policy Brief, www.icwa.in.

Baru, S. (2015). The economic imperatives shaping Indian foreign policy. in The Oxford Handbook Indian Foreign Policy. Oxford University Press.

Business-Standard. (2014 February 15). $ 1.26bn increase in India's forex, http://www.business-standard.com/article/economy-policy/1-26bn-increase-in india-s-forex-114021500593_1.html

Buthe, T., & Milner, H. V. (2014). Foreign direct investment and institutional diversity in trade agreements. World Politics, (66)1, 88-122.

China Daily. (2014-01-15). China's forex reserves reach $3.82t, http://www.chinadaily.com.cn/business/chinadata/201401/15/content_17236765.htm

Economic Outlook. (2008 October). Changing patterns of global wealth. Oxford Economics, 4(32), 19–31, http://onlinelibrary.wiley.com

Embassy of India Washington D. C., USA. (2018). Brief on India-U.S. relations 2018. https://www.indianembassy.org/pages.php?id=41

Forbes. (2016). http://www.forbes.com/sites/mikepatton/2016/02/29/u-s-role-in-global-economy-declines-nearly-50/#1607e19f59c1

Gartzke, E. (2007). The capitalist peace. American Journal of Political Science, (51)1, 166-191.

Gartzke, E., & Lupu, Y. (2012). Trading on preconceptions. International Security, 4(36), 115-150.

Ghibutiu, A. (2013). The changing landscape of international trade. Institute for World Economy, Romanian Economic and Business Review, 2(8), 104-116.

Global wealth report. (2015). Credit Suisse AG Research Institute, Switzerland, www.credit-suisse.com/researchinstitute.

Gojree, M. U. (2015). The U. S. interests and policies towards South Asia. Research Journal of Language, Literature and Humanities, 4(2), 5-12.

Jain, B. M. (2016). India-US relations in the age of uncertainty. London and Newyork: Routledge.

Keohane, R. O. (1984). After hegemony. Princeton University Press.

Keohane, R. O., & Nye, J. S. (1989). Power and interdependence revisited. International Organization, the MIT Press, 4(41), 725-753.

Keohane, R. O., & Nye, J. S. (2017). Power and interdependence. In The Conflict after the cold war. Clombia University: routledgde.

Kim, C. W. (2006). Economic liberalisation and indian foreign policy. Delhi: Kalpaz Publications.

Kronstadt, K. A. (2006). India-U.S. relations. Congressional Research Service-CRS (IB93097), www.crs.gov.

Kumar, A. M. (2017 Aug 16). Global interdependence will drive India’s economic prosperity. Hindustan Times, New Delhi, India.

Lamy, P. (2010). The changing patterns of world trade. WTO. http://www.ipsnews.net/2010/10/the-changing-patterns-of-world-trade/

Lee, G. (2014). The merchants of shangai, the mandarins of beiging: economic interdpendence in chinese foreign ploicy. The Korean Journal of International Studies. (12) Special Issue, 79-98.

Lima, M. R. S. de. (2013). The Political economy of Brazilian foreign policy. Impresso no Brasil.

MacMillan, S. M. (1997). Interdependence and comflict. Mershon International Studies Review, 1(41), 33-58.

Mansfield, E. D., & Brian, M. P. (2001). The study of interdependence and canflict. The Journal of Conflict Resoulation, 6(45), 834-859.

Mareli, E., & Signorelli, M. (2011). China and India: openness, trade and effects on economic growth, The European Journal of Comparative Economics, 1(8), 129-154.

Martin, M. F. et al., (2014). India-U.S. economic relations: in brief. Congressional research service – CRS. www.crs.gov

Mitra, S. K., & Rill, B. (2006). India’s new dynamics in foreign policy. Hanns Seidel Foundation.

Moshirzadeh, h. (2010). Development in international relations theories. Tehran: SAMT publication. (in Persian).

Nabi Fai, G. (2016). India – US trade and how will impact kashmir, November 17, http://zameer36.com/

Nunnenkamp, P. (2001). Foreign direct investment in developing countries, Leibniz Information Centre for Economics, https://www.econstor.eu/bitstream/10419/ 2616/1/kd380.pdf.

Pant, H. V., & Super, J. M. (2013). Balancing rivals. The National Bureau of Asian Research, Seattle, Washington, 1-20, http://asiapolicy.nbr.org.

Prabhash, R. (2015 January 26). Reviving the Indo-US BIT dialogue, the financial express.

Organization for International Investment. (2014 MARCH 28). Indian Companies Generated 81K Jobs in U.S. in 2013: Survey. http://www.ofii.org/news/indian-companies-generated-81k-jobs-us-2013-survey.

Reserve Bank of India in forexskolan. (2014). http://forexskolan.se/indias-forex-reserves-up-1-26-bn-odisha-sun-times.

Sachdeva, G. (2011). Geoeconomics and energy for india. in The Handbook of India’s International Relations. London: Routledge.

Schaffer, T. C. (2016). Security ties. in the India-U. S relations in transition. Brookings Institution India Centre, www.brookings.in.

Sixth BRICS Summit – Fortaleza Declaration 2014. Ministry External Affairs Government of India, http://www.mea.gov.in.

Solingen, E. in Cortright, D., & Mattoo, A. (1997). The price of peace. U.S.A: Rowman & Littlefield Publishers,

Tellis, A. J., & Wills, M. (2006-2007). Trade, interdependence and security. in the Strategic Asia 2006-2007. The National Bureau of Asian Research – NBR, Seatel, Washington USA.

The Financial Express, mages.financialexpress.com/2015/01/graph-india-us-defence-1.jpg.http://www.financialexpress.com/opinion/charting-indo-us-relations/35234.

The Observatory of Economic Complexity–OEC. (2017). https://atlas.media.mit. edu/en/profile/country/ind/.

United Nations Conference on Trade and Development-UNCTAD. World investment report 2012.http://unctad.org/en/PublicationsLibrary/tdr2012_en.pdf

United Nations Conference on Trade and Development-UNCTAD. World investment report 2013. http://unctad.org/en/PublicationsLibrary/wir2013_en. pdf.

United Nations Conference on Trade and Development-UNCTAD. (2015). Key Statistics and Trends in International Trade 2014. New York and Geneva.

United Nations Conference on Trade and Development-UNCTAD. World investment report 2017: investment and the digital economy. worldinvestmentreport.org.

United Nations Development Programme-UNDP. (2011 September). Towards Human Resilience: sustaining Mdg progress in an age of economic uncertainty, http://www.undp.org.

U.S. Department of the treasury. U.S. international reserve position, https://www.treasury.gov/resource-center/data-chart-center/IR-Position/Pages /default.aspx?page=8.

Wagner, C. (2006). Welcome to interdependence, Stiftung Wissenchuft und Politik (SWP), Berlin, https://www.swp-berlin.org/.

Woods, N. (2008). Whose aid? Whose influence? China, emerging donors and the silent revolution in development assistance. International Affairs, 6(84), 1205–1221.

World Bank. (2017). World development indicators 2017, http://www.worldbank. org/en/research.

Wright, T. (2013). Sifting through interdependence. Center for Strategic and International Studies, the Washington Quarterly, 4(36), 7-23.

World Trade organization-WTO, World trade report (2011). https:// www.wto.org/ english/res_e/booksp_e/anrepe/world_trade_report11_e.pdf.

World Trade organization-WTO. (2015). International trade statistics. www.wto.org/statistics.

World Trade organization-WTO. (2016). World trade statistical review 2016, https://www.wto.org/english/res_e/statis_e/wts2016_e/wts16_toc_e.htm

World Trade organization-WTO. (2016). Trends in world trade: looking back over the past ten years. World Trade Statistical Review, www.wto.org/statistics

Xu, K. (2012). Attracting foreign direct investment in developing countries. International Journal of Financial Research, 4(3), 69-81.

Zhu, N. (2014-02-18). Testing times for China's foreign exchange reserves. China daily USA, http://usa.chinadaily.com.cn/business/2014-02/18/content_ 17289655.htm.