Searing piece from @andymukherjee70 on the greater long-term cost of the misconceived introduction, and abandonment, of India's new farm laws:… via @bopinion
@andymukherjee70 @bopinion And here's @rpollard on what a dramatic moment it is to see Modi backtrack on a major policy like this:…
@andymukherjee70 @bopinion @rpollard I agree with Andy that the greater tragedy here is that a more consultative, thoughtful reform of India's farm economy might have provided the bedrock of the industrialization and growth the country so badly needs.

That prospect is now more distant:

@andymukherjee70 @bopinion @rpollard This story is IMO the most important under-reported one in the world today. Outside of India IMO people have only the vaguest outline of what's happened, but this will decide not just the fate of 1.4 billion people but the shape of the entire global economy in the 21st century.

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More from @davidfickling

20 Nov
Absolutely vital thread on the role state credit has played in China locking down the battery materials supply chain:
To put this ~$100bn in lines if credit for China Moly, China Nonferrous and China Minmetals in context:

BHP, the world's biggest miner, has about $4bn in net debt.

Glencore, a huge miner with a vast credit-hungry commodity trading arm, has about $10bn.

Now, lines of credit aren't the same as net debt.

Net debt will be smaller because you net out cash; and you only count drawn-down borrowings in the credit facility as debt, whereas a line of credit is the whole facility.

Still, the differences are impossibly large.
Read 4 tweets
18 Nov
Does is make a difference that tennis isn't fundamentally a team sport, so its stars tend to speak their minds whereas the likes of the NBA were more easily cowed?
The counterpoint is the John Cena thing, but professional wrestling isn't exactly famous for its performers' fierce independence from the system:…
The other factor is that this is being led by sports*women*, and is not just a China thing but a #metoo thing too.
Read 4 tweets
17 Nov
Very excited about Party Down coming back! This was such a great show.…
Lizzie Caplan will be missed but having both Jane Lynch AND Megan Mullally onscreen at the same time will be 🔥🔥🔥
Party Down is IMO the best evidence that America does British sitcoms better than the British
Read 4 tweets
14 Nov
The story of the rise and fall of General Electric isn't just a story of technological innovation.

It's from the start a story of financial innovation that's little less than a history of American capitalism.

Here's a column and thread:…
We think of the founder of GE as the great inventor Thomas Edison, but its true founder was just as much (if not more so) another crucial figure of America's Gilded Age, John Pierpont Morgan, the founder of JPMorgan.
Edison attracted Morgan's interest when he installed electricity in the financier's 5th Avenue house. J.P. Morgan was an archetypal early adopter of this brand-new technology, and quickly glimpsed its potential.
Read 30 tweets
11 Nov
This is possibly the most depressing line I've read out of #COP26 so far:… Image
Worth remembering that a near-term emissions peak, by 2025 or so, is very much in line with China's own internal plans around its power and heavy-emitting industries.

The fact that we have seen no advance of the pre-Paris Agreement target of 2030 is incredibly telling.
Really worth remembering that "2030 peak" wasn't a new thing from Xi's 2020 UNGA speech, it dates all the way back to 2015:…
Read 8 tweets
9 Nov
Another fun detail in this documents: One of the key responses proposed was to release oil by fracturing tight domestic rock formations, ie. fracking.

Small twist: The fracking technology they suggested was NUCLEAR BOMBS. 🤯
"The AEC still believes that it would be relatively easy physically to open up gas resources at the rate of one trillion cubic feet per year with the explosion of one hundred nuclear devices a year."

"The problem is essentially one of public resistance to the nuclear detonations which would be required."
Read 6 tweets

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