Tanking stock markets may not be the best background in which to discuss curbing portfolio inflows into India. But to insulate Indian policymaking from the fickle twists and turns of the US Fed and regain monetary autonomy, India must impose capital controls on short-term portfolio flows.
Rarely is a handshake the same as a slap in the face. But when the national security advisers of Saudi Arabia and Iran shook hands in Beijing last Friday, it delivered a stinging blow in Washington DC that echoed in the world’s capitals.
As the United States stays bogged down in its efforts to degrade Russia as a world power, at the expense of Western treasure and Ukrainian lives, not to speak of global growth and deprivation in swathes of Africa, China, identified by the Americans as their systemic rival, has won a decisive round in West Asia in its ongoing contestation of US hegemony of the global order.
By directing the Election Commission to be appointed by a non-partisan panel, the Supreme Court strengthens democracy. But more needs to be done for institutional independence. EC, as well as all other regulatory bodies made autonomous of the executive, should be made answerable to designated committees of Parliament. This is essential to ensure the democratic accountability of all institutions to the ultimate sovereign, the people.
ow does the world prepare for a pandemic that might cause mass destruction or not materialise at all? Bodies such as the Coalition for Epidemic Preparedness Innovations (CEPI) exist. The CEPI’s mission is to find a vaccine for a new pandemic threat within 100 days. It works on the basis of fund commitments from various countries.
The developing world has a big stake in the early end to the war. Global uncertainty and higher prices weaken growth and export momentum. Sustained divisions risk sanctions that a country like India can trip over. The war increases the risk of climate change.
War, said Carl von Clausewitz, is continuation of politics by other means. That is pithy, but ignores the economics. War is immensely profitable for quite a few parties. Let us take a bird's eye view of the Ukraine war - clear-eyed is all that counts, not if the bird in question is hawk, dove or raven.
How come we carried out this survey on BBC’s offices in Delhi, even as we are going big on our G20 presidency?