The Trump-Xi talks in Florida may have captured international news flow, but the more interesting set of meetings is taking place this week in India between Australian Prime Minister Turnbull and Indian Prime Minister Modi. While the Trump-Xi summit was intended to mitigate trade friction; the leaders of Australia and India are heralding their new-found intention to accelerate trade flows. The meetings in New Delhi may also put in place a framework for re-establishing the now-defunct Quadrilateral Alliance. The pre-credit crisis initiative between Japan, America, India, and Australia was designed to counter Chinese political and military influence. It imploded in 2009, in part because of discord between the two commonwealth nations over uranium shipments. A fresh configuration between the four democratic powers is likely to have a far stronger economic component, offering new impetus for region-wide investment. ■
Our Vantage Point: Asia-related allocation strategies are in upheaval because of volatile China-US relations. An important counter is renewed ties across the major democratic nations in the region.
Learn more at the Straits Times
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Image: India-Australia ties are founded on maritime security. Credit: Tana at Can Stock Photo Inc.