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My Notes 15 Nov 2016 30-11--0001

Dear Students:

Please Follow My Notes and My Video 15 November 2016

Editorial

The trail Trump’s blazing

  1. It is the most divisive election in USA history.
  2. Trumps victory is based on a mix of populism and majoritarianism.
  3. The USA society is in turmoil. It is divided in to heartland and coastal areas. East and west coast, majorlyimmigrant dominant states are in support of globalisation. Oter states are largely supportive of American nationalisms and economic conservatism.
  4. Trump phenomena can effect the world at large. Whenever there is a crisis, rightists –occupied central stage in politics. After 2008 economic crisis right wing is growing in Europe. So, Austrian, french, german elections are expected to follow America.

 

Hope floats in Colombia

Peace, stability and order are quintessential for successful economics. Colombia is in need of the same. Commodity prices falling has worst effected the columbian economy. So, alternative sources such as tourism can only grow with peace in the society.

After referendum that voted against the peace deal there is a renewed emphasis on peace again. Nobel prize to the president Juan Manuel Santos also gave a push. But, sticky questions still remain. These are allowing the rebels in to mainstream political and confiscation of money earned by drug mafia and compensation of victims.

 

Demonetisation – when cash is not the king

Fact sheet –

  • India has one of the highest cash to GDP ratio at 12%.
  • Indias black money is estimated to be $400-500bn, larger than several economies in the world.
  • Bulk cash transfers plays a role in more complex drug trafficking and Money laundering schemes.

Impact

In the initial period somedeflationary  impact can be felt in the sectors where the cash is the main instrument of transaction. For instance real estate sector.

On the positive side, it will reward honesty and genuine tax payer gets benefitted.

 

More need to be done

  1. Became transactions need to be curtailed.
  2. Government shall reduce tax rates and do away with stamp duty once GST comes in to implementation.
  3. Income tax rates also need to be reduced for better tax compliance.
  4. Cash less transactions need to be incentivised.

 

The tragedy of the commons – Garrett hardin

Tragedy of the commons refers least attention of the people to their collective resources like land, environment etc. If pollution, environment degradation in india is Seen it is suffering from this tragedy.

The way froward is

  1. Strong emphasis shall be placed on Individual and social costs of inaction.
  2. The very idea of compensation for environmental damage shall shift towards precautionary principle.
  3. Environmental degradation and its economic costs need to be computed. after  a certain  point  of  environmental  degradation,  clean-up  becomes  cripplingly expensive,  as  we  are  witnessing  in rivers  Yamuna  and  Ganga  today.

 

The breakthrough with Japan

Today India pacific has emerged as a critical regional area for Asia.

  1. India, Japan, USA trilateral engagement is gaining momentum.
  2. Shinzo abe, is the long advocate of India and Japan ties. He  was  one  of  the  first  Asian  leaders  to  envision  a  “broader  Asia”, linking  the  Pacific  and  Indian  Oceans  to  form  the  Indo-Pacific. 
  3. India and Tokyo are engaging deeply in infrastructure development in India and abroad. Chabahar port is expected to be completed with Japanese partnership.
  4. India and Japan support for freedom of Navigation in high seas and open skies.

 

PM Modi visit to Japan

  1. Japan has reiterated its support to India’s entry in to NSG.
  2. Indias act east policy and Japan free and open
  3. Bilateral defence ties are expected to get a boost. India is importing 12 US-2i amphibious aircrafts from Japan.It is Tokyo’s  first  arms  deals  since  Japan’s  2014  decision  to  lift  its  50-year  ban  on  arms  exports.
  4. India and Japan Nuclear deal is signed.

 

China insists on NPT for NSG entry

  1. China insists that  nonNPT states’  participation in NSG shall be  an  open  and  transparent affair.”
  2. India has underscored that NPT  membership  is  not  essential  for  joining  the  NSG. It is not a non proliferation but an export control mechanism.

Israel president visit to india.

  1. Israeli  President  arrives  on  6-day  visit – Israel president Reuben Rivlin arrived in india  for a six  day visit.  It will set a stage for Prime Minister Modi viist to Israel.

 

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