Imagine that the climate summit conference in Copenhagen this weekend was not a gathering of nations. Imagine a gathering of delegates from the many ages of a single nation. The fault lines would not be India and China versus the global rich, but rather China 1800 versus China 1978 versus China 2100. It would be a negotiation not between different lands but between different historical facts, different levels of survivalism....

Having stitched together a climate deal at Copenhagen with a select group of countries, the government will have to do some explaining in Parliament on Tuesday on some provisions in the Copenhagen Accord, especially those relating to international verification of voluntary action taken by India on climate change. The government is expected to argue that agreeing to allow “international consultations and analysis” is in no way a matter of concern....

Borrowing was both the shaky foundation of global growth and the cause of its collapse. It started with a bust and it ended with an even bigger bust. In between was sandwiched an unsustainable boom. Banks have been humbled. Economists have been found wanting. Geopolitical power began to shift from west to east. That was the noughties that was. It barely seems five minutes ago that policymakers were fretting about the...

Finance minister Pranab Mukherjee has assured a delegation of J&K MPs that the government will oppose a disclaimer clause put up by World Bank in return for a Rs 740 crore loan it has sanctioned for a watershed project in the state. The Bank has asked the state government to give an undertaking that the loan would not be treated as a certificate that the "disputed territory" was an integral...

The food price inflation in India, measured by the wholesale price index of food items, touched a 10-year high for the week ended November 28, 2009 when it crossed 19% on point-to-point basis over the corresponding week a year ago. The cereal prices were up by about 13%, but pulses are up by 42%, and vegetables by 31%, although potato prices shot up by 102%. This is getting way beyond...