Hyperbole aside, Zohran Mamdani’s victory in New York City is a significant development that will reverberate in US national politics, and find resonance abroad.
Socialists and leftists in Europe have declared validation of their ideology by American voters, and hope to do better in their own countries, states and cities as a result.
Has the Canadian prime minister, Mark Carney, eroded the chances of a trade deal between India and the US, with his apology to the US President over a television spot that a Canadian state government recently ran on US networks? The probability is strong that he has, even if purely inadvertently.
The election of Donald Trump and the emergence of his "America First" ideology represents a significant challenge to the Post world war II liberal international order and its underlying premise that a rules-based global system benefits U.S. interests in the long run. Trump's "America First" approach, characterized by a mix of economic isolationism and an interventionist military and political strategy under constrained resources, created significant strategic unpredictability in global affairs.
A ruling by the Swiss Federal Administrative Court on October 14, holding as illegal the Swiss Financial Market Supervisory Authority’s decision to write down Credit Suisse’s Additional Tier 1 bonds, as part of the state-directed merger of troubled Credit Suisse into rival banking giant UBS, has revived hopes in India for those pursuing a case in the Supreme Court against the similar writing down of AT1 bonds issued by Yes Bank, as part of its salvage operation. Their optimism is misplaced.
The Bihar results were out even before polling began: Bihar has lost, whoever the victor in the Assembly elections. With well over one crore women being paid Rs 10,000 crore by the incumbent government, supposedly for self-employment ventures, and promises of future fiscal support for such enterprises, the political economy of state handouts had been entrenched before polling began.
The Bihar results are astounding, with National Democratic Alliance (NDA) sweeping an unprecedented 202 seats (83%) out of 243. Political analysts and correspondents covering the elections have proved to be utterly wrong. Most of them expected it to be a close fight.
The Micro, Small, and Medium Enterprises (MSMEs) sector is often referred to as the backbone of the Indian economy, contributing significantly to the Gross Domestic Product (GDP), industrial production, and employment generation. However, MSMEs have historically struggled with inadequate infrastructure, limited access to finance, and a lack of technological expertise.