The
Role China Plays |
| C.P.
Chandrasekhar |
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| China,
which is being touted as the biggest challenger
to US economic supremacy, is witnessing
slowdown in its growth rates. However, such
a slowdown could prove to be bad news for
the US economy as well, because China also
happens to be the biggest market for all
US MNCs. |
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| Year
of Centenaries |
| Jayati
Ghosh |
|
100
years ago when Gustav Mahler composed
his 9th Symphony, it reflected the troubling
times he lived in. It was music for uncertain
times, even though it contains within
it certainties of different kinds. 100
years later, there is almost a sense of
déjà vu with Europe, and
indeed the whole world, now faced with
another period of political and economic
volatility. |
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| India's
External Sector |
| C.P.
Chandrasekhar and Jayati Ghosh |
|
Even
before global currents caused relatively
rapid outflows of mobile finance capital
from India, the Indian economy was vulnerable
on the external front. The recent pattern
of growth that has been reliant on capital
inflows to generate domestic credit-driven
bubbles, rather than trade surpluses is
not sustainable and puts the economy at
greater risk. |
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| Myanmar
- Reflections on a "Rich Country with
Poor People" |
| Gabriele
Koehler |
|
The
sudden interest in Myanmar by the West
after years of ostracizing is not just
a response to the reforms being introduced
by the Government of Myanmar, but stems
from the realization that China and India
have been benefiting from the abundant
natural resources of Myanmar that they
missed out on. However Myanmar has the
means to use its policy space to innovate
and create a democratic developmental
welfare state with the new acceptance
it has found internationally. |
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| The
Nature of the Current Capitalist Crisis |
| Prabhat
Patnaik |
|
The
most common interpretation of the current
capitalist crisis is that this was caused
by the collapse of the housing bubble,
accentuated by 'bad economics'. Interpreting
the current crisis as such a situational
crisis would be erroneous, as the developments
since the outburst of the crisis in 2008
clearly prove that the problem is more
of a systemic crisis of capitalism. |
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| Prospects
for the World Economy in 2012 |
| C.P.
Chandrasekhar and Jayati Ghosh |
|
2011
revealed that the much vaunted economic
recovery after the Great Recession was
not inherently sustainable, as the recent
problems of global capitalism, including
those associated with excessive debt build-up,
were reflected in new areas and caused
economic slowdown across the world. Against
the backdrop of economic trends in 2011,
this article assesses the prospects for
the world economy in 2012. |
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| Retail
Rollback |
| C.P.
Chandrasekhar |
|
The
whole fiasco over the decision to allow
FDI in retail and the subsequent withdrawal
of the same has been a major embarrassment
for the Indian Government. The failure
to get its own allies on board proves
that political democracy held its sway.
The very fact that the political parties
were so wary about the issue proves how
little support this decision actually
has amongst the larger masses. |
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| Lessons
from Abroad |
| C.P.
Chandrasekhar |
|
Contrary
to the arguments given in favour of allowing
FDI in retail, international experiences
have shown that such moves can have dire
consequences. |
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| Multinational
Retail Firms in India |
| Jayati
Ghosh |
|
The
actual impact of large corporate retail,
and especially multinational retail chains,
in developing countries clearly shows
that many of the claims made by proponents
of such corporate retailing - in terms
of employment generation or benefits to
producers and consumers - are suspect
or sometimes completely false. |
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| Democracy
and the Financial Markets |
| Jayati
Ghosh |
|
In
the last few decades, it has become increasingly
common for various developing and ''emerging''
markets to give greater importance to
appeasing the interests of financial markets
over the requirements of political democracy.
Now, this is afflicting developed countries
as well, where governments are sacrificing
democracy in favour of the markets. |
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| The
End of Europe? |
| C.P.
Chandrasekhar |
|
The
crisis in Europe has recently claimed
many political victims, with the governments
in Greece and Spain, two of the worst
hit countries, being changed. The newer
governments promise to implement stringent
austerity measures that are being proposed
as a solution to the crisis. However,
how much of austerity can actually be
implemented, and what good such measures
will do to resolve the crisis is highly
doubtful. |
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| Summit?
What Summit? |
| Jayati
Ghosh |
|
The
recent G20 summit was held when the global
economy is at the threshold of another
major financial crisis. There was a need
for fast, co-ordinated and effective action.
However, the final declaration that emerged
shows that such an unified stance is yet
to be achieved. |
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| European
Banks and Asia |
| C.P.
Chandrasekhar and Jayati Ghosh |
|
European
banks are being forced to take a haircut
to deal with the region's crisis. Given
their greater role in total international
funding and the significant exposure of
Asian financial systems to global capital,
this raises concerns about the likely
impact that the European banking crisis
would have on Asia. |
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| Pills,
Patents and Profits |
| C.P.
Chandrasekhar |
|
It
is widely accepted that regulation and
control in India's pharmaceutical sector
had resulted in India ensuring access
to cheap medicines for its population.
However, liberalisation policies have
eroded away much of the benefits. The
newly proposed National Pharmaceuticals
Pricing Policy, 2011 can do further damage
by weakening the current price control
regulations. |
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