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The mayhem and dysfunction of India’s cash-free experiment

When India removed 86% of its cash from circulation in 2016, the intention was to disrupt organised crime and move the country into the digital age. Instead, chaos spread across the nation, highlighting the danger of taking shortcuts to economic and social progress. Nick explores.

Move over BRICS, the “Next Eleven” has emerged

Twelve years after being named the next global economic powerhouses, the Brazilian, Russian, Indian, Chinese and South African governments, also known as the BRICS economies, have decided to embrace a de facto union, and had numerous economic meetings between the countries’ leaders. The group demands international attention. Brazil can offer the world enormous amounts of agricultural goods, China is the world’s second largest economy with a massive cheap labour force, India offers itself as a source of inexpensive intellectual resources, and Russia is now the world’s largest mineral exporter. The group are now considering making a formal alliance, following a meeting of all five countries in Durban.[1] Such a move would most likely create one of the world’s most powerful unions of the twenty-first century, and surely the most diverse we have seen thus far.

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Child Labour an Afterthought for Sherrin

In the lead-up to Saturday’s Grand Final The Age/Herald broke the story of child labour in Sherrin’s supply chain. Child labour is rife in the manufacture of sporting goods in the developing world and over the years Nike, Adidas, Reebok, Puma and many others have faced scandals and allegations. Sherrin’s response has been swift and dramatic. The company cut ties with all its Indian subcontractors and hastily pulled the promotional footballs intended to be handed out at the $350-a-ticket North Melbourne Grand Final Breakfast.

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Asians like to Save more?

Since the second half of the last century we have seen the success of many emerging market economies. These economies were traditionally labeled the ‘Four Asian Tigers’, and refer to the economies of Hong Kong, Singapore, South Korea, and Taiwan. However, now it seems as if we must add two more economies, namely, China and India. The stories behind the success of these economies are rather well known, also it is well documented that the private saving rates of the emerging economies increase while the rates fall for the developed economies during such booms. This article will take a look at how we can explain the divergence of private saving rates in the emerging economies and the already developed economies.

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Look East: The Weight of Oil Sanctions on Iran’s budget

20%. That’s the proportion of Iran’s oil exports to the European Union.

Iran's flags

If you’ve been hiding under a rock for the last 6 years, then you would probably not understand the extreme tension that surrounds Iran’s nuclear program. There is the media, different governments’ interests in play, different companies’, and various groups of influence acting. Behind that thick wall of smoke lies the effects the issue has on the Iranian economy.

Read moreLook East: The Weight of Oil Sanctions on Iran’s budget