Weekend reading links – 14.5.2016

America

Do not attempt to do math in domestic flights in the U.S., especially if you are seated next to an American.

Discovering that your parents were spies for a foreign country

Gun violence in U.S. cities is massively underreported (Brookings, April 27, 2016)

Nicholas Kristof shows an open mind that self-styled Indian liberals are not capable of.

Janet Yellen, Federal Reserve chairperson does not rule out negative rates but notes that unintended consequences have to be kept in mind.

Trump’s foreign policy is the realism that America needs

FBI keeps the email kettle boiling

Bloomberg consumer confidence dropped to a five-month low on May 8 even as Michigan consumer sentiment survey picks up mysterious uptick in expectations.

US switched on the missile shield in Romania and Russia talked of the threat of a nuclear war

China

The rise of robots: More than 75% of jobs in China are at high risk of computerisation (From April 8).

A gala show featuring “red songs” praising late leader Mao Zedong, staged in a style reminiscent of the Cultural Revolution, was held in the hall on May 2 during the May Day break.

The story of People’s Daily’s prominent highlighting of the remarks of an ‘authoritative person on the need for debt deleveraging in China is a useful political signal than a policy signal.

British Queen called Chinese officials very rude

Where do risks reside in the Chinese banking system? (news from April 29)

Robert Shrimsley in FT on a ‘candid camera’ conversation between Chinese leaders on British politics and politicians. A good satire.

Businessman serves probation for his ‘erroneous’ views. In China, of course.

Some comparative numbers on the US and China economies.

‘Economist’ has a special report on ‘Finance in China’

China’s financial and banking systems have gone circular, says Deutsche Bank. Important read.

India

Shyam Saran, former Foreign Secretary, looks at what he calls Modi government’s ‘mixed record’ in two years. In substance, his remarks converge on some of the points made by Dr. Arun Shourie in his recent interview with Karan Thapar.

RBI announces research internship scheme

China claims support of several member of the Nuclear Supplies Group to block India’s bid to join it.

T. N. Ninan evaluates Modi’s cabinet as its second year in office nears completion and finds that only a handful count.

Link to the video of the speech by Raghuram Rajan, RBI Governor wherein he has expressed concerns over helicopter money. (It gets complicated if helicopter money includes debt forgiveness by central banks.)

Global/General

Deloitte has a global manufacturing competitiveness index now.

CFR has a global monetary policy monitor

Sandra O’Connor reviews ‘the age of Em’ by Robin Hanson of George Mason University

A review of ‘Only humans need apply’

Philippines’ new President sings from a different pro-business hymn sheet after election.

Envy at 30,000 feet.

Reuters has a quick summary of why Dilma Rousseff was likely to be impeached. 55 out of 81 senators voted in favour of impeachment.

Australian Prime Minister named in Panama papers; denies wrongdoing.

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