New Japan PM an old friend, will give priority to India: government

Paris, Jul 20: Two coronavirus vaccine candidates have proven safe for humans and produced strong immune reactions among patients involved in separate clinical trials, doctors said on Monday.

The first trial among more than 1,000 adults in Britain found that the vaccine induced "strong antibody and T cell immune responses" against the novel coronavirus.

A separate trial in China involving more than 500 people showed most had developed widespread antibody immune response.

The studies, published in The Lancet medical journal, constitute a major step on the road towards a COVID-19 vaccine that is effective and safe for widespread use.

The authors of the studies said that they encountered few adverse side-effects from the vaccine candidates.

However, they cautioned that more research was needed, particularly among older adults, who are disproportionately at risk of dying of COVID-19.

Co-author Sarah Gilbert from the University of Oxford said the results "hold promise".

"If our vaccine is effective, it is a promising option as these types of vaccine can be manufactured at large scale."

India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) with some traditional weaknesses like poor infrastructure and insufficient education investment keeping its ranking low, the international business school said on Tuesday.

Singapore has retained its top position on the 63-nation list.

Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3rd, the Netherlands has retained its 4th place and Hong Kong has slipped to the fifth place (from 2nd in 2019).

The US has moved down to 10th place (from 3rd last year), while China has also slipped from 14th to 20th place. Among the BRICS nations, India is ranked second after China, followed by Russia (50th), Brazil (56th) and South Africa (59th).

India was ranked 41st on the IMD World Competitiveness Ranking, being produced by the business school based in Switzerland and Singapore every year since 1989, but had slipped to 45th in 2017 before improving to 44th in 2018 and then to 43rd in 2019.

While its overall position has remained unchanged in the 2020 list, it has recorded improvements in areas like long-term employment growth, current account balance, high-tech exports, foreign currency reserves, public expenditure on education, political stability and overall productivity, the IMD said.

However, it has moved down in areas like exchange rate stability, real GDP growth, competition legislation and taxes.

Arturo Bris, Head of Competitiveness Center at IMD Business School, said India continues to struggle on the list and the recent country rating downgrade by Moody’s reflects the uncertainties regarding the economy’s future.

"In our ranking this year, we again emphasize the traditional weaknesses of India -- poor infrastructure, an important deficit in education investment, and a health system that does not reach everybody. For India to follow the path of China, it must stress its intangible infrastructure," Bris said.

"In a less global world, with China, USA, and Europe looking inwards, currencies like the rupee (and the Brazilian real for instance) are going to suffer and display high volatilities.

"Moody’s has threatened the country with a downgrade to junk and that would put India in a terrible position to attract foreign capital. So the urgency for the government should be to fix the short-term problems—and this requires to improve the credibility of the government itself," Bris added.

With the exception of Singapore, the Philippines, Taiwan and the Korean Republic, most Asian economies dropped in rankings this year, the IMD said.

The reason for the Asian economies’ less stellar performance as a region, this year is partly the result of the trade frictions between China and the US, particularly because these economies are highly dependent on trade with China.

About Singapore, which moved to the top rank last year, the IMD said its position is largely driven by the relative ease of setting up business, availability of skilled labour and its cutting-edge technological infrastructure.

The IMD said the impact of COVID-19 on the competitiveness ranking has partially been captured by executives’ opinions about the effectiveness of the different health systems.

In the ASEAN countries included in the survey, only Singapore and Thailand have a positive performance in the effectiveness of the health infrastructure.

Stockholm, Jun 15: Nuclear powers continue to modernise their arsenals, researchers said Monday, warning that tensions were rising and the outlook for arms control was "bleak".

"The loss of key channels of communication between Russia and the USA... could potentially lead to a new nuclear arms race," said Shannon Kile, director of the nuclear arms control programme at the Stockholm International Peace Research Institute (SIPRI) and co-author of the report.

Russia and the US account for more than 90 percent of the world's nuclear weapons.

Kile was referring to the future of the New START treaty between the US and Russia, which is set to expire in February 2021.

It is the final nuclear deal still in force between the two superpowers, aimed at maintaining their nuclear arsenals below Cold War levels.

"Discussions to extend New START or to negotiate a new treaty made no progress in 2019," the SIPRI researchers noted.

At the same time, nuclear powers continue to modernise their weapons while China and India are increasing the size of their arsenals.

"China is in the middle of a significant modernisation of its nuclear arsenal. It is developing a so-called nuclear triad for the first time, made up of new land- and sea-based missiles and nuclear-capable aircraft," SIPRI said.

The country has repeatedly rejected Washington's insistence that it join any future nuclear arms reduction talks.

The number of nuclear warheads declined in the past year.

At the start of 2020, the United States, Russia, Britain, China, India, Pakistan, Israel and North Korea together had 13,400 nuclear arms, according to SIPRI's estimates, 465 fewer than at the start of 2019.

The decline was attributed mainly to the United States and Russia.

While the future of the New START treaty remains uncertain, Washington and Moscow have continued to respect their obligations under the accord.

"In 2019, the forces of both countries remained below the limits specified by the treaty," the report said. But both nations "have extensive and expensive programmes underway to replace and modernise their nuclear warheads, missile and aircraft delivery systems, and nuclear weapon production facilities," it added.

"Both countries have also given new or expanded roles to nuclear weapons in their military plans and doctrines, which marks a significant reversal of the post-Cold War trend towards the gradual marginalisation of nuclear weapons."

The Treaty on the Non-Proliferation of Nuclear Weapons (NPT), a cornerstone of the global nuclear non-proliferation regime, celebrates its 50th anniversary this year.

The number of nuclear arms worldwide has declined since hitting a peak of almost 70,000 in the mid-1980s.

The five original nuclear powers -- Washington, Beijing, Moscow, Paris and London -- in March reiterated their commitment to the treaty.