For the most part, India’s current growth slowdown and its fiscal and current-account deficits are not structural problems. They can all be fixed by means of modest reforms. This is not to say that ambitious reform is not good, or is not warranted to sustain growth for the next decade. But India does not need […]
Banking reforms alone, however, aren’t going to bring foreign investors back or prevent the rupee from falling further. This is (Raghuram) Rajan’s real challenge: He is stepping into a stew of financial chaos, missed opportunities and political paralysis that has been simmering for years. It’s no longer inconceivable that India could become the first of […]
Not so long ago India was celebrated as an economic miracle. In 2008 Manmohan Singh, the prime minister, said growth of 8-9% was India’s new cruising speed. He even predicted the end of the “chronic poverty, ignorance and disease, which has been the fate of millions of our countrymen for centuries”. Today he admits the […]
China just released a host of encouraging new financial data, leading some analysts to conclude that the nation’s economic problems are “bottoming out.” Don’t take that for granted. China is famous for making up important economic numbers to mask serious problems—or to present a “harmonious” picture for its society and the world. Read Here – WorldAffairsJournal
Congratulations to India for appointing Raghuram Rajan as the new governor of its central bank. It would be hard to think of anybody better qualified — not even Janet Yellen. But condolences to India for the news that monetary and financial policies aren’t the main obstacles to its prosperity. The economy needs better management, all right, but not […]
The bulls are running on Wall Street, but the chief of America’s central bank worries that the market remains dangerously fragile. Federal Reserve Chairman Ben Bernanke explained why on Friday, May 10, in a speech in Chicago at the Fed’s branch there. Here are five things that nag at Bernanke, in his own words. Read Here – Businessweek
Interestingly, a closer look at Japan’s performance over the past decade suggests little reason for persistent bearish sentiment. Indeed, in terms of growth of output per employed worker, Japan has done quite well since the turn of the century. With a shrinking labor force, the standard estimate for Japan in 2012 – that is, before Abenomics […]
One thing that everyone can agree on in Brussels is that Cyprus is a minnow in the European fish pond, accounting for less than 0.5 per cent of the euro zone economy. In the words of the German finance minister, Wolfgang Schäuble, the island is “not systemically important”. Read Here – The National
The new lineup of China’s State Council, nominated by Premier Li Keqiang, was endorsed by lawmakers at the ongoing national legislative session here Saturday afternoon. Zhang Gaoli, Liu Yandong, Wang Yang and Ma Kai were endorsed as vice premiers, with Yang Jing, Chang Wanquan, Yang Jiechi, Guo Shengkun and Wang Yong as state councilors, at […]
At the end of last year, Japanese Prime Minister Shinzo Abe fired a loud salvo. In a forceful attempt to kick start Japan‘s economy from its decade-long stupor, Abe leaned on the Bank of Japan to set a 2% inflation target. He threatened to pass a law to limit the central bank‘s independence if it […]
looking beyond borders 