The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...
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New stars in the East by Krishnan Srinivasan
Referring to China in 1947, Nehru declared, “A new star has risen in the eastern horizon,” and some years later predicted, “If you peer into the future, the obvious fourth country in the world is India.” One of the countries he had in mind has disappeared, and he did not imagine that the emergence of India and China on the global stage would lead to mutual friction. The Chinese are...
More »Privatisation of Judiciary! by K G Somasekharan Nair
The increase in the number of civil cases in a country is its social mascot, as it symbolises the abundance of law abiding civilised citizens accepting the authority of the judiciary to get their grievances redressed. Otherwise, they would have turned to self-retaliation or employed roughnecks, a usual practice in America and Britain enkindled by their criminal heritage, to enforce justice in their own way; hence all civil litigants may...
More »Global economy to rise by 2.4 per cent in 2010, but recovery still ‘fragile’ – UN
The United Nations predicted today that the world economy would bounce back next year with a global growth rate of 2.4 percent, but warned of a risk of a double-dip recession if the wrong policies are implemented. “We’re not out of the woods yet,” said Rob Vos, Director of Development Policy and Analysis from the Department of Economic and Social Affairs (DESA), ahead of the launch next month of the...
More »Road to Copenhagen by R Ramachandran
It has been a bumpy ride, with developed countries failing to make definite commitments and India hinting at a shift of stance. THE last leg of the climate change talks held in Barcelona, Spain, on November 2-6 in the run-up to the all-important 15th Conference of the Parties (COP-15) to the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen in December did not result in any dramatic development...
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