Among the more poorly thought out foreign policy initiatives of the Indian government, one of the mitigated disasters has been the proposed BRICS bank. The New Delhi foreign policy establishment has taken to blaming the Indian finance ministry for the idea, but the external affairs ministry had to have gone along with the idea. Read more

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The newly minted president of China, Xi Jinping, speaking to a group of BRICS newswires, told them the Indian participant that he had a five-point formula for Sino-Indian relations. Read more

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The Catholic Church and the Chinese government, within a 24 hour space, both finalized their leaders. The church chose and anointed Pope Francis. The party completed its leadership succession by appointing Xi Jinping as president of China, the third and last position he needed to become the new ruler of the Middle Kingdom. Read more

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There’s been a large amount of commentary on the huge surge in Indian gold imports, the damage it is doing to the current account deficit, with much weighing of the pros and cons of the government’s feeble attempts to stem the yellow tide. Read more

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India’s finance minister P Chidambaram has succeeded in controlling the country’s fiscal deficit and averting a sequence of the following events: a credit rating downgrade, a fall in the rupee and an outflow of capital. Read more

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