US does $15 billion business in India, pledges support for UN seat (+ analysis); China vs. the US currency wars continue; Iraqi leaders meet for reconciliation talks; David Cameron heads to China to take care of business; and more

Top of the Agenda: Obama Urges Anti-Terrorism Effort with India

On his four-day trip to India, US President Barack Obama pledged to strengthen US-India efforts to fight terrorism and deny safe havens to terrorists in South Asian countries (WashPost). Obama said India and the United States had a responsibility to lead global efforts to combat extremists and the global spread of nuclear weapons. He touched on long-standing tensions between India and Pakistan over the disputed province of Kashmir, saying the United States "cannot impose a solution" (Dawn) on the problem. India and the United States struck six agreements during the visit on clean energy, nuclear energy, public health, and military relations, as well as a host of business deals (TimesofIndia). Those deals, worth nearly $15 billion, could create more than fifty thousand US jobs (FT). Indian Prime Minister Manmohan Singh defended Obama against criticism that the visit was overly focused on commercial deals and he supported Obama's leadership role in resolving global imbalances ahead of the G20 summit. Obama is expected to endorse India's bid to become a permanent UN Security Council member (Politico) in a speech to India's parliament today.

Analysis:

In the L.A. Times, Selig Harrison says to reach the full potential of US-India relations, the United States must stop providing Pakistan with weaponry that can be used against India and take a realistic view of the reasons for Indian-Pakistani tensions.

In the New York Times, Jim Yardley says Obama's trip was an attempt to refocus the US-India relationship away from disputes with Pakistan and China, to win "tangible goodies (for example, contracts) that politicians call 'deliverables.'"

Background:

A new report by the Center for New American Security provides a blueprint for the path forward for the US-India relationship, given India's rise.

 

PACIFIC RIM: China Maintains Pressure on Fed's QE

China is planning "frank discussions" with the United States over its $600 billion quantitative easing plan (FT), despite Beijing and Washington having dialed down tensions over currencies and trade imbalances at the APEC finance ministers' meeting.

Do China's policies pose a threat to trading partners and the global economy or is that concern exaggerated? Morgan Stanley's Stephen Roach and the Peterson Institute's Gary Hufbauer discuss.

China: British Prime Minister David Cameron will visit China on November 9-10 with the government's largest-ever business delegation, aimed at boosting commercial relations (Xinhua).

 

- Iraqi Leaders Meet to Resolve Deadlock
- Geithner Seeks Distance from Imbalances Target

 

This is an excerpt of the CFR.org Daily News Brief. The full version is available on CFR.org