Book Review: Unleashing the Vajra: Nepal’s Journey between India and China

 

Unleashing the Vajra: Nepal’s Journey between India and China

Sujeev Shakya (2019), “Unleashing the Vajra: Nepal’s Journey between India and China”, Penguin Random House India Pvt. Ltd.

Unleashing the Vajra: Nepal’s Journey between India and China touches extensively on the past that shaped Nepal’s present and its prospective future in-between two of the world’s largest economies India and China. Furthermore, it also recommends strategies for transforming Nepal’s possibilities into reality. 

 

Sujeev Shakya, the author of this book is a well-known name in Nepal who writes and talks extensively about Nepal’s economy. Shakya is also the founder of Beed Management and Nepal Economic Forum. The book is divided into three parts: The Past, The Context, and Action Time pertaining to Nepal’s socio-economic development. The Vajra as per Shakya symbolizes “an irresistible force carried by millions of Nepalis worldwide that will bring about positive transformation”. 

 

The beginning of the book starts with Shakya sharing his views and thoughts on Nepal’s past starting with Nepal Sambat stating briefly about the Lichhavis, Mallas, Ranas, and finally the Shahs. He highlights the cultural aspects that linked Nepal to its neighbors viz; Araniko, Buddhism, the Newar traders, etc. There is the mention of the caste system that according to the writer is the reason for the rent-seeking mentality of Nepalese. Then there is the fall of Shahs to Rana autocracy after the death of King Prithivi Narayan Shah, founder of unified Nepal. 

 

After talking about the past, the author moves towards the present context of Nepal. Starting with cartels that are prevalent in the private sector which have in many ways hindered the development of a free-market economy in Nepal. But there is the optimistic view argued by Shakya where he mentions the success stories of the private sector such as Bhatbhateni Supermarket, and Kantipur Publications. 

 

Entrepreneurship is a term widely discussed in the past couple of decades throughout the world including Nepal. In discussing the rising enterprising mindset of the young Nepalese the author points out ventures such as Goldstar, Himalayan Java Coffee that have successfully expanded both domestically and internationally.  Service sector is now contributing a larger share in Nepal’s GDP. It is a result of as Shakya states the smiling nature of Nepalese.

 

 

Furthermore, the writer discusses the tendency of overreliance on foreign aid for development that started with the US-led Marshall plan in 1951. This issue of donor and development is still pertinent in Nepal in many ways such as the recent controversy surrounding the Millennium Challenge Corporation (MCC) package by the US.

 

The trend of migration, diaspora, and remittance is an old phenomenon that has also been highlighted in the book along with the historical background of Newari traders, Gorkha recruitment. And in contemporary Nepali society the trend of going abroad for higher education and labor. The scrivener explores the challenges and opportunities with regards to the Non-Resident Nepalese (NRN). The global Nepalese as per the book will bring about the maximum transformation in Nepal as they bring in new ideas and implement them locally.

 

Shakya proposes Vision 2030 as Nepal graduates to a middle-income country. There are suggestions for reforms on tax, land, capital market, labor, and the financial sector that highlight the key issues in these sectors. Then there is the acronym that Shakya uses of HATS (Hydropower, Agriculture, Tourism and Services) along with I (Infrastructure). These represent sectors that will prove to be crucial for Nepal’s development.

Through the means of sub-headings, the author is successful in eloquently presenting Nepal. This piece is a unique one considering the broad range of sectors. It covers not just the economic lens but also the political, socio-cultural, and historical perspectives. Therefore, in my opinion, it is a must-read book for students, young professionals, policymakers, and anyone who believes in “The Vajra”- the power of Nepal to unleash its potentials, as the writer puts it.

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