Waking the Beast: India’s Defense Reforms Under Modi ( Source- The Diplomat/ Author- Jeff M.Smith)

Image credits- Indian Navy

Source- The Diplomat

Author- Jeff M. Smith

“India has done enough to simplify its defense procurement and other norms,” opined Indian Defense Minister Manohar Parrikar at a speech in Washington last December. “It is time for U.S. Government and Industry to reciprocate. It is easy to blame Indian bureaucracy but in some cases, U.S. bureaucracy is much worse.’’

With all due respect to Parrikar—who has been a breath of fresh air after the paralytic reign of his predecessor, AK “Mr. No” Antony—few in Washington or Delhi would agree. Fortunately, the reforms he and Prime Minister Narendra Modi have shepherded are steering India in the right direction ( To read the entire article, click here.......)

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Devaluation and Despair: Breaking Down China's Currency Dilemma ( Source- The National Interest / Author- Gordon C. Chang)

Source- Wikimedia Commons / Author- JesseW900 Source- The National Interest Author- Gordon G. Chang On Friday, the People’s Bank of China (PBOC), the Chinese central bank, reversed course and set the renminbi on an upward path. That followed three straight days of devaluation that shook global stock, currency, and commodity markets, sending them downward. Friday’s reversal looks responsible. Nonetheless, the PBOC’s actions last week show policy disarray in the Chinese capital. The net result is that Beijing rattled the world, ruined its reputation for stable management, and did almost nothing to help China’s faltering economy. The daily devaluations follow months of government statements that the central bank would keep the currency stable. Every trading morning, 15 minutes before the 9:30 opening bell, central bank officials announce the day’s reference rate against the U.S. dollar. The renminbi, informally known as the yuan, is then allowed to rise or fall 2...

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