The Economics of India
I am no fan of Xi. And China’s Belt and Road Initiative is not necessarily beneficial, given the massive increase in government expenditure as a part of their GDP that this has entailed. Also, people have over-invested in condominiums where no one will ever live. China is experiencing economic turbulence. A correction must happen.
In the past, I have been poor and hungry and close to being homeless, but I knew this wasn’t going to last too long. So, I am always tempted to examine the higher-order factors underpinning a society. Here is a photo, which is worth several books and extensive economic statistics, that I took in Changsha (China), which, among many similar experiences, tells me that China will come out of its current malaise sooner rather than later.
(The old city worker paintakingly cleaned what she could have easily ignored)
Blind to the importance of culture, many people sitting in the ivory towers of the IMF or the World Bank think that by overlapping graphs, they can predict when Nigeria will be similar to today’s South Korea or when India will outdo China. Here are my views on why India will never be China.
Indians have no core values and utterly lack honor, integrity, and work ethics. Given this as “nutrients,” the Indian government is a rudderless organization, what I call a Bribe Collection Agency.
Here are my views on why all the expectations of India’s future will come to naught. And worse, with 27% of Canadian new immigrants being from India, Canada should become familiar with the Indian ways.
Orecorp Ltd (ASX.ORR; A$0.44) is being acquired by Silvercorp. I met both the managements last month in Denver. The merger should close in December 2023. Currently, there is a 10% arbitrage upside in ORR. For North Americans, a platform like Interactive Brokers offers a fantastic way to trade ASX stocks. (This is a referal link).
Finally, the following is the playlist of the recently-held Capitalism & Morality seminar. The next year’s seminar will be on the 1st of June 2024.
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