Friday, January 19, 2024

Divergent Fortunes: India versus China

JPMorgan says India is its No. 1 market in Asia; investors are unlikely to return to China this year
https://www.cnbc.com/2024/01/16/jpmorgan-says-india-is-its-no-1-market-in-asia-and-a-favorite-globally.html
 
India Stocks Command a Near-Record 157% Premium Over China Peers
https://www.bloomberg.com/news/articles/2024-01-16/india-stocks-valuation-premium-over-china-approaches-record



The India Rising Narrative
Modi’s India Is Beating Xi’s China in the Mojo War

Why India Isn’t the New China
https://www.wsj.com/economy/global/why-india-isnt-the-new-china-e61f4699
The country’s population surpassed China’s last year. But India’s path forward is likely to look very different from its neighbor’s.
 
How strong is India’s economy under Narendra Modi?
https://www.economist.com/finance-and-economics/2024/01/15/how-strong-is-indias-economy-under-narendra-modi
It has neither boomed nor slumped. But growth may be taking off 

India set to be renewable energy hub with hundreds of billions earmarked for projects
https://www.scmp.com/week-asia/economics/article/3249134/india-set-be-renewable-energy-hub-hundreds-billions-earmarked-projects

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NIL and the Modern-Day Superstar College Athlete

A look at Caitlin Clark’s NIL deals from Nike to Gatorade and many more
https://www.yahoo.com/sports/look-caitlin-clark-nil-deals-135031595.html 

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The Pandemic Business Cycle

What economists have learnt from the post-pandemic business cycle
https://www.economist.com/finance-and-economics/2024/01/17/what-economists-have-learnt-from-the-post-pandemic-business-cycle
The curious and furious recovery has brought some old ideas back to the fore 

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A Silly Inflation Debate

Inflation Is Down, but It Wasn’t ‘Transitory’
https://www.wsj.com/articles/inflation-is-down-but-it-wasnt-transitory-federal-reserve-government-debt-soft-landing-8b648048
The Federal Reserve’s monetary restraint was crucial in slowing the rise of prices.
 
Has Team Transitory really won America’s inflation debate?
https://www.economist.com/finance-and-economics/2024/01/10/has-team-transitory-really-won-americas-inflation-debate 

Related:
West braces for global ‘rewiring’
https://www.telegraph.co.uk/business/2024/01/17/red-sea-crisis-new-era-interest-rates-davos-inflation/
Red Sea crisis signals the end of the 'free money' era

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AI Bubble?

AI Is the Talk of Davos. Is It Time to Sell?
https://www.wsj.com/tech/ai/ai-is-the-talk-of-davos-is-it-time-to-sell-6727ed9a
The truly crazy bubble phase is over, but the investment case remains complex 

What happened to the artificial-intelligence investment boom?
https://www.economist.com/finance-and-economics/2024/01/07/what-happened-to-the-artificial-intelligence-investment-boom
Perhaps AI is a busted flush. Perhaps the revolution will just take time 

After a Sugar High of Free Money, These Billion-Dollar Technologies Need a Nap
https://www.wsj.com/tech/personal-tech/after-a-sugar-high-of-free-money-these-billion-dollar-technologies-need-a-nap-dc4c4b20
Once overhyped and overpromised, these major areas of tech investment are finally facing reality. The contraction and disinvestment may only be just beginning.

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The Battle for Global Tech Supremacy

How China is making its dream of flying cars, drones and sky cities come true
https://www.scmp.com/comment/opinion/article/3248760/how-china-making-its-dream-flying-cars-drones-and-sky-cities-come-true
Policy, financial and infrastructural support is creating a conducive ecosystem for China’s ‘low altitude economy’, integrating advanced aerial tech into everyday life and urban planning.
 
Inside China's Tech Boom
https://www.pbs.org/wgbh/nova/video/inside-chinas-tech-boom/
The inside story of China’s meteoric rise to the forefront of global innovation. 

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Modern American Society - Overprotected and Overcautious

Death by a Thousand Paper Cuts
https://www.nytimes.com/2024/01/18/opinion/american-life-bureaucracy.html
David Brooks:
This state of affairs pervades American life. Childhood is now thoroughly administered. I’m lucky enough to have grown up at a time when parents let children roam free to invent their own games and solve their own problems. Now kids’ activities, from travel sports to recess, are supervised, and rules dominate. Parents are afraid their kids might be harmed, but as Jonathan Haidt and Greg Lukianoff have argued, by being overprotective, parents make their kids more fragile and more vulnerable to harm.
High school students design their lives to fit the metrics that college admissions officers require. And what traits are selective schools looking for? They’re looking for students who are willing to conform to the formulas the gatekeepers devise.
I’ve found the administrators’ code of safety first is now prevalent at the colleges where I’ve taught and visited. Aside from being a great school, Stanford used to be a weird school, where students set up idiosyncratic arrangements like an anarchist house or built their own islands in the middle of the lake. This was great preparation for life as a creative entrepreneur. But Stanford is apparently now tamed. I invite you to read Ginevra Davis’s essay “Stanford’s War on Social Life” in Palladium, which won a vaunted Sidney Award in 2022 and details how university administrators cracked down on student initiatives to make everything boring, supervised and safe. 

Related:
David Brooks previously noted:
“Over the past decades, a tide of “safetyism” has crept over American society. As Greg Lukianoff and Jonathan Haidt put it in their book “The Coddling of the American Mind,” this is the mentality that whatever doesn’t kill you makes you weaker. The goal is to eliminate any stress or hardship a child might encounter, so he or she won’t be wounded by it … It’s been a disaster. This overprotective impulse doesn’t shelter people from fear; it makes them unprepared to deal with the fear that inevitably comes. …
But there has been one sector of American society that has been relatively immune from this culture of overprotection — medical training. It starts on the undergraduate level. While most academic departments slather students with A’s, science departments insist on mastery of the materials. According to one study, the average English class G.P.A. is above 3.3 and the average chemistry class G.P.A. is 2.78.”

Parents Are Supporting Adult Kids Financially — and Emotionally

https://www.bloomberg.com/news/articles/2024-01-25/parents-are-supporting-adult-children-financially-and-emotionally

More than ever, parents are supporting their adult children financially — and emotionally.

Nearly 60% of parents said they were providing financial support to their adult kids ages 18 to 34, according to a new report from Pew Research Center. That’s because parents these days are more involved and supportive of their children’s lives well into adulthood, said Kim Parker, the organization’s director of social trends research. 

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