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2012 THAT WAS India can play a critical role Brexit that would reverse the trend towards economic integration Answer to Britain’s quandary lies abroad Inequality still the economic equaliser 2013- the year that was Year in review
 
Year in review
Here is a list of the top 10 events that had the most repercussions globally in 2017. This is 'a' list, and not 'the' list, and is in no particular order!

Trump as President and the chaotic year in the US and abroad

January 2017 saw Donald Trump being sworn in as the President of the United States. His presidency was controversial and the year didn’t let up on controversies: some unfortunate, but most were a result of his mercurial temper and chaotic leadership style. One of the more intriguing decisions was Trump firing the FBI director, James Comey, who was investigating Trump’s former national security advisor, Michael Flynn. A week later, The New York Times published details from a memo where the president allegedly asked him to drop his investigation on Flynn.

For the rest of 2017, there was steady news around Russian interference in not only the US elections but also allegedly altering the US society through social media platforms. Four people have been charged and a couple of guilty pleas have been secured. The year also witnessed #notmypresident movement, women’s marches against Trump, the travel ban protests, the riots in Charlottesville, Virginia, etc.  

In a weak year for legislative victories (despite the Republican Party holding the majority in the House, Senate and a seat in the White House), the tax legislation in December 2017 was a significant change. The drastic changes in corporate income taxes and personal deductions have long-term ramifications for people, businesses and countries. The Republican Party rushed through its tax bill without any Democrat voting with them and gave President Trump his first major legislative victory. The tax bill succeeded where Republicans have repeatedly failed for years:  repealed the individual health care mandate, dealing a blow to the Affordable Care Act (Obamacare). 

Overall, the US’ standing in the world took a beating as the world watched with puzzlement, astonishment and anger at the various stances taken by President Trump and his team.

Contrasting economic fortunes in China and India

China enjoyed strong growth numbers. It took giant strides on economic, environmental and infrastructure fronts, Xi Jinping’s consolidated his power and the country is now a bigger proponent of global trade. Fueled by huge government funds, China has become the world’s biggest market for electric cars. Chinese customers buy more General Motors-branded cars than Americans as over 50 per cent of the world’s electric cars were sold in China in 2017. While India also has similar ambitious plans on moving away from ICE cars by 2030, a combination of demonetisation, GST and US policies has slowed down the economy. The country had to struggle with several disruptions due to increased pollution levels too, with the capital city having the worst air quality. India now leads the world in highest pollution-related deaths. While China’s leadership went on an anti-corruption focus and purged several vital leaders over the past few years, India’s push seemed more diluted, mainly due to the acquittal of the perpetrators of the 2G scam.  The country also saw the BJP consolidate its power in several new states. While this has yielded benefits regarding collective push for policies and growth, there have also been concerns about intolerance and dissent. Shortcomings notwithstanding, India’s stock market index rose to record levels.
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