V Anathanageswaran says "The machinery of complex financial engineering that conjured up some derivative products remains intact. The ethical issues that dogged the Wall Street then remain alive."
India Bank Scam watch
Amol Agarwal shares his view on making RBI accountable in bank case. I liked this line:
There is generally a lot of fire and fury around Indian central bank’s independence and its actions on interest rates. But very few of such pieces mention that independence should be backed by accountability as well.
While I am for privatization in general, I am against privatising banks right now. Government must show some risk-taking ability.
Interesting to see what China is doing with respect to banking and financial regulator. Remember Chinese banking problem is X times Indian problem and there could be other scams too. But China is action oriented and they move quickly. Interesting to see the comparison.
World War Watch
Gideon Rachman says:
For the past 40 years, the world’s two largest economies have both embraced globalisation, based on understandings about how the other would behave. The Chinese assumed that the US would continue to support free trade. The Americans believed that economic liberalisation in China would eventually lead to political liberalisation.Raja Mandala: A Korean miracle?
Both of these assumptions are now shattered. On Sunday, China’s National People’s Congress rubber-stamped a constitutional change that would allow President Xi Jinping to rule for life. Three days earlier, President Donald Trump announced tariffs on steel and aluminium and tweeted that “trade wars are good and easy to win”.
C Raja Mohan gives his take on Kim-Trump talks and implications for various parties. I think Kim's sister may have more influence than understood. Along with her, South Korean President Moon may be the most important voices of reason. Lets us see.
Another piece by Raja Mohan. He talks about relations between France and India and the a bit of history.
Dalai Lama's sister and mentor to many children.
This is second movie involving Aamir Khan to feature in China. Indian Movie industry should look to China for expansion. Some marathi films may do well too. India needs to realise that Bollywood is more powerful soft-power than any. The movie business people are unaware of the opportunity.