China
India, Reform, and the Multipolar World
Trump’s Legacy It could charitably be said that the outgoing U.S. administration was characterized by non traditional trade strategies. But we can say that in spite of the polarization and vituperative rhetoric on both sides, the outgoing administration believed that it was in fact simply responding to longstanding economic and Read more
China
Market Summary — 15 October
Many forces are at work that could result in a correction for U.S. markets: uncertainty around the trajectory of the pandemic; the worrisome prospect of a contested presidential election; and typical seasonal weakness. And yet, as we write, the S&P 500 remains near an all-time high. Why? The investment backdrop Read more
E-commerce
Digital Acceleration in India
For a few weeks we’ve been explaining our optimistic view of the waning SARS-CoV-2 pandemic in the United States. Data suggest that vaccine or no vaccine, the pandemic is already beginning to fade. Positive tests, hospitalizations, and deaths are all continuing to fall, even as life continues to return to Read more
India
India: Manufacturing Destination
Last week we reported about two large stakes taken in Indian telecom giant Reliance Jio by U.S. investors. Their interest focused particularly on the Indian consumer, one of the world’s great untapped consumer markets. Jio’s aggressive rollout of cheap internet service and mobile devices to currently unconnected Indians attracted a Read more
India
U.S. Firms See Opportunity in India
India continues to attract investment from U.S. tech and e-commerce firms. In 2018, Walmart [NYSE: WMT] acquired India’s biggest domestic e-commerce firm, Flipkart. Amazon [NASDAQ: AMZN] has said that it is investing $5 billion in India. Now two U.S. entities — Facebook [NASDAQ: FB] and Silver Lake, a private equity Read more
BJP
India: Near-Term Pain, Long-Term Gain
Narendra Modi and the Bharatiya Jannata Party [BJP] took the reins of India’s government in May, 2014. Since then, we’ve been bullish on the long-term opportunity that would be presented by India’s emergence from the corruption and business-hostile governance of many of its 20th century rulers. Some readers may have Read more
India
India, Self Driving Cars, Market Summary
Executive Summary 1. We’re long-term bulls on India. A recent U.S. action rescinded some tariff exemptions that India had enjoyed as a developing nation. We don’t feel this is a significant event, and anticipate that the friendly relationship between the U.S. and Indian administrations will continue. We see policy continuity Read more
Brazil
Emerging Markets Beyond China
Emerging Markets Beyond China: Reforms and Opportunities in India and Brazil Six weeks ago in these pages, we wrote that 2019 might be the year during which emerging markets finally begin to outperform. We argued that after a decade of emerging-market underpeformance, global investment flows would begin favoring EM assets Read more
