D+C Newsletter

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What is on our editor-in-chief’s mind.

No, Narendra Modi is no liberal reformer

Western business papers have a stubborn, but misleading tendency of portraying India’s Prime Minister Narendra Modi as a liberal reformer who unfortunately happens to have some authoritarian tendencies. It is actually the other way round. He is an authoritarian leader who has never shown much interest in market dynamics, but does have a tendency of pandering to powerful corporate interests.

US democracy is still in danger

The news from the US state of Virginia is bad. Glenn Youngkin, the Republican candidate, has been elected governor. The problem is he has neither disowned former president Donald Trump nor the insurgents who stormed the Capitol in Washington in January. His campaign, moreover, exploited racist sentiments. As I will explain, his triumph shows once more that US democracy is indeed in trouble - and that has harmful impacts on global governance.

IMF executive board re-endorses Georgieva

Kristalina Georgieva is staying on as the top leader of the International Monetary Fund (IMF). The executive board expressed confidence in her early this week. Because of a scandal dating back to her time at the World Bank, her tenure had been in doubt. In my eyes, she is at most guilty of minor sins and deserves to stay at the helm of the IMF.