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Grab Car, Uber's main rival in South East Asia secures $2 billion in funding from Didi Chuxing & Softbank.
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Demonetisation led to a destuction of Delhi's informal markets.
'Beside job losses, demonetisation had hardly any impacton formalising the regulatory process of cash-based transactions across identified market arrangements in Mayur Vihar and Old Delhi bazaars.'
'Beside job losses, demonetisation had hardly any impacton formalising the regulatory process of cash-based transactions across identified market arrangements in Mayur Vihar and Old Delhi bazaars.'
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India's demonetisation took away 1.5 million jobs. The quarterly survey on manufacturing showed that a staggering 73% of respondents said they are unlikely to hire additional workforce over the next three months. This was mildly lower than the 77% of respondents showing a similar concern earlier.
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The economics of the populist backlash
The economics of the populist backlash.
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Kaushik Basu, prof. Cornell University & erstwhile Chief Economist, World Bank & CEA, GOI, looks at corruption through the lens of anger, laws, politics & psychology.
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The very idea of G20 is now obsolete.
The very idea of convergence, which the G20 symbolizes, has been pulverized under the strains of the global recession, the failure of the Arab Awakening, Russian and Chinese revisionism, and western populism. Fundamental questions about the future of international order are back on the table. The world’s largest nations still need to cooperate but it will be much more difficult than before.
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Too much of savings and too little spending by Germany is not good for the world economy.
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+The New York Times highlights the dismal employment generation numbers during the 3 years of Modi Sarkar.
'Almost no new jobs have been created under Mr. Modi. In the late Singh years, economists say, at least 400,000 extra jobs were added yearly. In the last three years of Mr. Singh’s government, from 2011 to 2014, on average 579,000 extra jobs were added yearly in India.'
'Almost no new jobs have been created under Mr. Modi. In the late Singh years, economists say, at least 400,000 extra jobs were added yearly. In the last three years of Mr. Singh’s government, from 2011 to 2014, on average 579,000 extra jobs were added yearly in India.'
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China's $900 billion new silk road. All that you may want to know about it.
Xian to Venice.
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China's 'One Belt One Road (OBOR)' initiative will give it enormous international power and clout.
'It’s not hard to see the benefits the BRI will bring Beijing. On the home front, China wants to harness excess capacity in its manufacturing industries, spur economic activity in its relatively under-developed western region, and open up alternative energy supply routes to the Straits of Hormuz and Malacca, through which almost all of China’s maritime oil imports pass. Externally, BRI would strengthen Chinese influence over swathes of Asia and Africa, establish global financial structures parallel to (and eventually competing with) the Bretton Woods system, and establish China as a global maritime power.'
'It’s not hard to see the benefits the BRI will bring Beijing. On the home front, China wants to harness excess capacity in its manufacturing industries, spur economic activity in its relatively under-developed western region, and open up alternative energy supply routes to the Straits of Hormuz and Malacca, through which almost all of China’s maritime oil imports pass. Externally, BRI would strengthen Chinese influence over swathes of Asia and Africa, establish global financial structures parallel to (and eventually competing with) the Bretton Woods system, and establish China as a global maritime power.'
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