The Covid-19 pandemic will feel like a mild shiver down the spine of the world’s financial markets if China’s second largest real estate developer Evergrande defaults. This will be comparable to the subprime disaster of 2007-08.
The big talk about huge loans being given to this sector is no more than just that, big talk. It seems India has patience only for multi-billion dollar organisations and not for those who provide sustenance for most of the workforce of the country.
Here are some sobering bits of information. Afghanistan has now endured two decades of horrifying war and brutality under the Taliban, followed by another two decades of American “occupation”, purportedly to the benefit of the common man, and to help set up a legitimate government. Yet, the country now descends into god knows how many years of complete chaos under the Taliban, again.
The imposition of a global tax rate of at least 15 percent on multinationals by G20 finance ministers recently is a positive effort to deter tax dodging and end tax havens. But it remains to be seen how the contemplated tax structure will be implemented.
The system can lament, apportion blame, but it never interfered, never once tried to understand why a man would want to live among tribals and work for them, ignoring calls to comfort. Death was virtually delivered to Stan Swamy’s cell by the system.
Betting on teams in the IPL is illegal. But what happens when the franchises become public companies? Will speculating on their shares impact the players or the game? If this speculation, in the stock market, is legitimate, how is betting on the teams not?