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Mihir Sharma
@mihirssharma
, 6 tweets, 2 min read Read on Twitter
So exports are falling again. Why won't the government recognise that it's trade policy has failed? (1/n)
Scale of Modi Sarkar failure most visible on apparel exports, crucial for jobs in labour-surplus countries like ours.

No growth since 2014-15, while other countries have seen double-digit exports growth in the sector. (2/n)
Its not it's

#autocorrectfail
One big issue - poorly structured GST means that it is difficult for exporters to get refunds on time & with minimal effort. Govt claims it is making it better. But actually it has just decided to reintroduce manual checks, increasing delays 3x. (3/n)

financialexpress.com/economy/export…
For those interested in comparisons with UPA, I will just leave this link here for reference. No comment needed.

(4/n)

m.businesstoday.in/story/budget-2…
Most other Asian countries are strategising on how to benefit from the Sino-US trade war. We instead seem determined to become collateral damage. Who will be held accountable for this mismanagement? (n/n)

businesstoday.in/current/econom…
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More from @mihirssharma see all

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Mihir Sharma
@mihirssharma
You know what we haven't had in this Budget so far? Any budgeting. Lots of aims, no allocations. #Budget2019
DD-Startups has been announced. All problems now solved.
It's been over an hour. Targets, achievements, promises -- but not a single budgetary allocation. This simply does not happen in a Budget speech....!

Read 6 tweets
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Mihir Sharma
@mihirssharma
Piyush Goyal claiming govt told RBI to clean up bank balance sheets. In fact they have spent the past few years demanding the RBI weaken its zero tolerance policy on non performing loans!
Govt has missed its fiscal deficit target. But the worry is that even this 3.4% may have been achieved by fudging data, as the CAG pointed out last month. #InterimBudget2019
So, as expected, an income support programme announced. But if there is funding then it will be an unfortunate breach of propriety for an interim Budget. Rs 72K crore is not a lot for such a programme though #InterimBudget2019
Read 20 tweets

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Andrew Lewin
@Alewin7
Thread 1/6
To #Labour voters who back a #PeoplesVote and are campaigning to #Remain in the EU, please ignore this angry article. It does not speak for the majority.
The worst thing Labour supporters like Owen can do at the #EUElections2019 is lecture and patronise Remain voters.
2/6
 Instead, let's be honest about the progress made in moving #Labour policy on #Brexit forward, while recognising we are not where we need to be.
The good news:
-203 Labour MPs voted for a #PeoplesVote in parliament
-34 Labour candidates have signed the @Remain_Labour pledge.
3/6
 Less good news:
- The NEC decision confirms that backing a #PeoplesVote is an 'option', but did not commit to it unambiguously.

#Remain campaigners have every reason to be frustrated. But instead of attacking them (as Owen does), we need to convince them to stick with Labour
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Peter Wilding
@eurorealist
Farmers face the biggest Brexit hit and still they don’t think they need to worry! THREAD
In a grim report published on Friday, the #government Agricultural, Horticultural and Development Board @TheAHDB predicted that post-Brexit #farming incomes would fall by 25%. @FarmingUK /1
This wasn’t just in an apocalyptic #NoDeal scenario. If it was, farmers seeing this figure could mutter Project Fear and carry on their arduous work. The problem is that this collapse occurs IN ANY BREXIT SCENARIO @bbcfarmingtoday. /2
It is no exaggeration that entire enterprises, for example poultry production, could be unviable if the AHDB predictions are correct as @RCorbettMEP notes. This is a problem because, in Shropshire @BBCShropshire poultry accounts for 86% of all cattle and livestock. /3
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Ramaswamy Iyer 🇮🇳
@iyer_rn
@kanimozhi @keralaCastro @anilindian @Kuvalayamala @HKupdate @girishalva @chathootti @prafullaketkar @excomradekerala @Prof_Hariom @ranganaathan @jspandey_ @SaveSabrimala @ensine @sagenaradamuni @MaheshJoshi_MJ @jsaideepak @advmonikaarora @ShefVaidya @sgurumurthy @rvaidya2000 @RajivMessage @HinduAmericans @Swamy39 @vhskerala @mohandastg @TVMohandasPai @Amritanandamayi @SriSri @mariawirth1 @sankrant @Koenraad_Elst @davidfrawleyved @fgautier26 @narendramodi @Janamejayan @rishibagree @DrGPradhan @IndianInterest @anuraag_saxena @AAOLion @anujdhar @Chandrabosebjp @MissionNetaji @PanickarS @majorgauravarya @GeneralBakshi @daljeet1954 @MajorPoonia @TrueIndology Remembering “Thamizh Thatha”. The grandfather of Tamil Literature on his Jayanti Today.
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Read 934 tweets
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Julie Laumann
@Otpor17
In 2012, Tim Cook announced Apple would make a Mac computer in the US.

But when Apple began making the $3000 computer in Texas, it struggled to find enough screws. By the time the computer was ready for mass production, Apple had ordered screws from China nyti.ms/2HBT2QK
Apple CEO Tim Cook: “The skill here is just incredible. In the US, you could have a meeting of tooling engineers and I’m not sure we could fill the room. In China, you could fill multiple football fields.” (h/t @scottlincicome)
"Caterpillar said costs tied to new US tariffs on foreign goods, including steel and aluminum, were just above $100 million over the 5 months of 2018 that they were in effect.

The company expects more than $200 million in tariff-related costs this year." wsj.com/articles/cater…
Read 140 tweets
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Christophe Barraud🛢
@C_Barraud
🇨🇳 #CHINA Q3 GDP Y/Y: 6.5% V 6.6%E (slowest growth since Q1 2009)
*NBS spokesman Mao Shengyong said that the international situation was bringing “downward pressure” on China.
*Link: bloom.bg/2RVX1ZA
🇫🇷 🇪🇺 🇨🇳 French tire maker Michelin warned of declining sales in Europe and #China in the second half of the year, dragging down shares of its competitors in the U.S. and Europe - Bloomberg
*Statement: bit.ly/2EujhqH
🇺🇸🇨🇳🇪🇺 In a volley of filings, the EU, #China and the U.S. this week escalated disputes over new U.S. metals tariffs, the European response to those levies, and Chinese intellectual property practices - Bloomberg
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Pete North
@PeteNorth303
1. A thread on #trade and aid.

One of the first tangible benefits of #Brexit I've seen is the emerging reform of @DFID_UK where it is becoming more of an arm of trade policy than a state owned humanitarian NGO. I would like that to go much further and rethink trade.
2. I do not think we should be wasting too much effort on free trade deals largely because they are of questionable value and encourage inefficient value chains. Any work on tariffs should really be reserved for multilateral activity.
3. Instead we need DfID as the spearhead of our trade policy. There is no reason why we cannot pursue humanitarian goals and enhance our trade while we are at it. For a start we can do a lot with medicines and pharmacy products.
Read 21 tweets

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