Robin Harding

Will Modi risk redrawing India’s electoral map? [FREE TO READ] Successive governments have long avoided an issue that could inflame deep-rooted divisions between the more populous north and wealthy south

Delimitation (ˌdiːˌlɪmɪˈteɪʃən):
Our @FT Big Read on the debate in India about whether, how, and when to reconfigure Parliament to account for the country's growing population - and the regional tensions tugging at the Union. With Aditi Bhandari
on.ft.com/4clYr9t

Perhaps there is already an answer in the literature in which case I'd love to be pointed in the right direction. Otherwise, a research paper for someone.

This has occurred to me before in the context of Japan's Government Pension Investment Fund. At any point, Japan could use ¥1 from the fund to pay down ¥1 of debt, or borrow ¥1 to buy more assets for the fund. What rule describes the optimal size of the GPIF?

One question. There is masses of economics lit about deficits and optimal public debt (Modigliani, Feldstein, Barro, Buiter, Blanchard etc) but I couldn't find much on the following question: when does it make sense for the state to borrow $1 and buy $1 of financial assets?

The rise of the trophy SWF Everybody wants sovereignty. Everybody wants wealth. Yet a fund is not, sadly, a reliable route to their creation

Danantara, Indonesia's $900bn new sovereign wealth fund, has no discernible macroeconomic rationale. I know tariffs are the big story right now but I wrote about when SWFs make sense and when they don't. (1/2)

www.ft.com/content/08c7...

The India IPO party floats into 2025 In this newsletter’s first edition, the CFA’s decline and advice from Uday Kotak

The @financialtimes.com is launching a newsletter about business in India written by the fabulous Veena Venugopal. Please give it a try and let us know what you thjnk! on.ft.com/3Vwye0u

China’s market targets are ‘just psychological’, says former regulator Frank remarks by onetime securities commission chief give rare insight into Beijing financial policymaking

China’s market targets are ‘just psychological’, says former regulator

https://www.ft.com/content/4029debe-1c8a-406a-86d9-deff6d6b5713

China’s defence minister placed under investigation for corruption US officials say probe is part of a wider operation to uncover graft in the People’s Liberation Army

China’s defence minister placed under investigation for corruption

https://www.ft.com/content/641446ed-71b1-42f6-a9d8-3bc4d7b7da23

Generally speaking, it’s a bad idea to create Powerpoints and Excel sheets to analyse your best “corrupt payment option” (allegedly). It gives the Feds a head start.

Anime arson strikes fear into Japanese society [FREE TO READ] Deaths at Kyoto studio prompt angst over mass killings as ‘personal terrorism’

The case reminds me of similar mass killings in Japan such as the terrible Kyoto Animation arson-murders in 2018. on.ft.com/40OBNTp 2/2

The FT reports from the site of the massacre in Zhuhai this week, where police are removing flowers brought in tribute. 1/2

Inside Goldman Sachs’ years-long power struggle over its China venture A deal with a prominent Chinese banker gave the US group market access, but securing full control cost a lot more than it expected

The rare case when someone goes into business with Goldman Sachs and comes out on top.

“We rented his name but we chose someone who tried to screw us in the end," says one ex-Goldman banker of its Chinese partner. Excellent piece, deeply reported.

www.ft.com/content/2312...

China’s Stimulus Policies Now Put Emphasis on Consumption, Expert Says Logic shift in China’s macroeconomic approach aims to root out constraints on domestic demand, experts says

1/7
Caixin: "“A growing consensus is emerging around strengthening demand-side management, with macroeconomic policies shifting from an investment-led focus to a balanced approach that gives equal priority to consumption and investment, with greater...
www.caixinglobal.com/2024-11-12/c...