Canada has been in the headlines during US President Donald Trump’s second administration—not only because of Trump’s talk of Canada as a prospective “51st state”, but also due to Canadian Prime Minister Mark Carney’s effort to reset Canada–China ties and rally cooperation among middle powers as the rules-based international order erodes, including through his remarks at the World Economic Forum in Davos.

In this episode of East Asia Pulse, Prof Paul Evans (Professor Emeritus, University of British Columbia and EAI Senior Fellow) speaks with Prof Frank Pieke (EAI Visiting Research Professor) about Carney’s vision for a new international trading system, Canada’s push to diversify trade beyond the US, and the legacy of China historian John King Fairbank—highlighting the continuing importance of empathy and scholarly rigour in interpreting China and US–China relations.

Key Highlights:

00:00 Canada, China, and middle-power strategy in the Trump 2.0 era
01:58 Carney’s China reopening and Davos agenda amid a weakening global trading order
03:51 Canada’s domestic divide: Diversify beyond the US vs deepen integration with the US
06:04 Issue-based plurilateral partnerships: flexible, interest-driven groupings
10:03 Can China fit into a new trade/order framework? Carney’s “China must be part of the future” argument
16:42 John King Fairbank in McCarthy-era politics
28:02 Today’s lesson: Managing the “friend of China” label while keeping analytical doors open

East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.

Mailing list: http://tiny.cc/eai-emailing
LinkedIn page: https://www.linkedin.com/company/east-asian-institute/
YouTube channel: http://youtube.com/EastAsianInstituteNUS

After nearly five years of tension, China-India relations have thawed significantly in 2025, with increased interactions between the two sides over the past year. Amid the backdrop of Trump’s tariffs, Chinese President Xi Jinping met with Indian Prime Minister Narendra Modi in Shanghai in August, where he highlighted the importance of closer ties between the two giants

Looking ahead, what are the prospects for China and India’s ability to deepen their ties across realms like trade and technology, while managing longstanding border tensions?

In this episode of East Asia Pulse, EAI Deputy Director Dr Chen Gang speaks with Dr Pradeep Taneja, Senior Lecturer in Asian Politics, Political Economy, and International Relations at the University of Melbourne. They explore the current state of India-China relations and how the evolution of economic reforms in both countries has shaped their growth models, strategic choices, and prospects for cooperation and competition.

Key Highlights:

00:00 China-India relations in the last five years and the drivers shaping them

06:40 Similarities and differences in the reform paths of China and India

14:09 How a realistic economic relationship between China and India can be forged in areas of trade, investment and technology amid “de-risking”

19:54: What China and India can learn from each other to build strong domestic industries while reducing external reliance

22:38 Practical steps that can help to stabilise China-India ties

East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.

Mailing list: http://tiny.cc/eai-emailing
LinkedIn page: https://www.linkedin.com/company/east-asian-institute/
YouTube channel: http://youtube.com/EastAsianInstituteNUS

India is racing ahead in modernising its payment systems, from the Unified Payments Interface (UPI)’s instant rails to the e‑rupee pilot. Can it set the benchmark for regional standards? What lies ahead for cross‑border digital currencies, cryptocurrencies, and stablecoins under evolving regulation and governance structures?

EAI Director Prof Alfred Schipke speaks with Mr P. Vasudevan, Executive Director of the Reserve Bank of India, on the technology, governance, and policy choices shaping the next chapter of regional payments system development.

Highlights:

00:00 The development of India’s payment systems, including Unified Payments Interface (UPI), India’s leading fast payment system

04:55 Progress of India’s pilot of its Central Bank Digital Currency (CBDC), the e-rupee

10:53 The potential of CBDCs for cross-border transactions, and the role played by governance structures in such transactions

15:08 Challenges faced in harmonizing standards and regulations for cross-border CBDCs

24:10 India’s stance on new financial instruments like cryptocurrencies and stablecoins

East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.

Mailing list: http://tiny.cc/eai-emailing
LinkedIn page: https://www.linkedin.com/company/east-asian-institute/
YouTube channel: http://youtube.com/EastAsianInstituteNUS