The thing that amazes me most is how fragile the supply chains are these days. A sports event is going to have an effect on global drug prices….
“Over the past decade, many chemicals factories in India have closed down, as they were unable to compete with imports from China.But during the Olympics, Mr Majmudar says factories around Beijing have been shut in an effort to cut pollution.”
BBC NEWS | Business | China chemicals starve Indian pharma
This sounds good and sensible, the country is booming so they’re investing at the bottom. Fantastic.
“The Indian government is to cancel the entire debt of the country’s small farmers in a giant scheme that will cost 600bn rupees ($15bn; £7.6bn).The move is a centrepiece of India’s latest budget, with the government also increasing education spending by 20% and health funding by 15%.”
BBC NEWS | Business | India cancels small farmers’ debt
The next paragraph states…
“Widely seen as a populist budget ahead of elections due by May 2009, Delhi has also pledged to control food prices.”
A “populist budget”, imagine that; politicians trying to keep the majority of people happy. Maybe they could try that radical idea outside of India!