Tackling Global threats with careful planning

The recent Harris Lecture, which was conducted on 21st November by Pallavi Vyas, Associate Professor of Economics at BITS School of Management,Mumbai was a brief but impactful examination of global existential threats as they relate to international trade. She demonstrated how basic ideas from game theory can be applied to better comprehend strategic interactions between nations. She also emphasized that conflicts arise when countries pursue their own interests in an interdependent world.

Using the current U.S.-China tariff situation as an example, Prof. Vyas explained how such policies reflect strategic dilemmas where short-term gains might result in wider, long-term inefficiencies. Her ability to relate theory to real-world events made it interesting and easy to comprehend her lecture. She made complex global issues relevant and intelligible for the audiences.

Her account of India’s active diplomatic outreach was quite perceptive. She emphasized that India’s growing international alliance network is a deliberate attempt to strengthen its negotiating position in a shifting geopolitical environment. She also highlighted the importance of bargaining power and the trade relations between the US and India with special reference to recent tariff imposition by the US on India’s merchandise exports.

All things considered, Prof. Vyas’s presentation was a timely reminder that addressing trade and diplomacy related global threats necessitates careful planning, informed policy, and an awareness of the complex relationships affecting the contemporary world. After the lecture, I strongly feel, the students had a better understanding of how nations manage uncertainties and how their choices affect people far beyond their borders.