Banking services chronicle Published this article page no 50 India should collaborate with foreign partners for research and development of the future technologies. A strong legal framework should be developed to minimize the uncertainties of emerging technologies poses. It should state its concerns at global platform regarding the risk of these technologies. The policy of nonproliferation of harmful military technologies should be adhered. There is a need of creating a pool of skillful diplomats specializing in Digital Diplomacy. SOUTH CHINA SEA Why in news? China has reportedly deployed an airship near South China Sea (SCS) to monitor and control military activity in the area by other countries especially the United States. Importance of South China Sea Strategic Location It is a key commercial thoroughfare connecting Asia with Europe and Africa. One third of global shipping or a total of US$3.37 trillion of international trade passes through the South China Sea. o It is estimated that around 80 percent of Beijings imports of oil reach the country through the South China Sea after passing the Strait of Malacca. o Up to 97% of Indias total International trade volume is sea borne half of which passes through the strait of Malacca. In addition ASEAN constitutes one of Indias largest trade partners. Any instability in the SCS would adversely affect the shipping lanes and have a knockon effect on Indias economy Banking services chronicle buy.
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