In The News

Will the European Union Crack?

Nayan Chanda June 16, 2014
Stagnation, unemployment, pessimism in democracies can motivate voters to endorse change. In India, voters embraced the growth policies of Narendra Modi while in European Parliament elections, extremists who oppose immigration and integration made gains. The similarities end there, suggests Nayan Chanda, editor of YaleGlobal in his column for Businessworld, and the trends in Europe expose “the...

The Way Forward

Nayan Chanda June 2, 2014
India’s citizens are greeting new Prime Minister Narendra Modi with great expectations to revive a lagging economy. Modi’s decisive win was based on a pro-business, pro-development, pro-growth agenda. “Ironically, one policy measure that is all ready to be implemented and could prove a game changer for the country is also the one that the BJP election manifesto is dead set against — FDI in multi-...

A Black Mark in the Waiting

Nayan Chanda May 21, 2014
Coal provides about a third of the globe’s primary energy needs, according to the World Coal Association, and India ranks third in coal production and consumption, after China and the United States. China produced six times as much coal than India in 2012, but is acting to reduce its reliance and develop alternatives. “It is ironic that while global public discussion is increasingly about ways to...

Central Demands

Nayan Chanda May 8, 2014
Corruption and economic stagnation go hand in hand, and voters in India are hungry for change, suggests Nayan Chanda, editor of YaleGlobal Online. But big challenges – including a lack of jobs for the young, budget deficits, inflation and a regulatory morass – along with the need for coalition partners could delay change. “The formation of a new government may well alleviate some investor...

Testing Times for Globalization

Nayan Chanda April 21, 2014
Results of the upcoming European Parliament elections will reveal if rightwing, anti-immigrant, anti-globalization parties are on the rise in Europe or if a few discontents are making noise. Anti-immigrant parties have made gains in Norway, Switzerland, the Netherlands and France – and such victories force centrist parties to retreat on inclusive policies, assess citizen sentiments and appeal to...

Of Climate and Political Change

Nayan Chanda April 3, 2014
The threat of climate change – which poses an array of economic consequences – is missing from the political debate as Indians prepare for April-May general elections. “The impact of climate change has become more urgent and definitely more evident than it was five years earlier,” suggests Nayan Chanda, YaleGlobal editor, in his column for Businessworld. The “monstrous cyclone Phailin that took...

Fig Leaf of Legitimacy

Nayan Chanda March 17, 2014
About 60 percent of the electorate turned out in Crimea for a special referendum; reports suggest that 95 percent voted to join Russia. Next, Russia will decide whether to annex the peninsula it passed to Ukraine in 1954. Most of the international community opposed the hurried election, especially after Russia dispatched troops and tanks to the area. “Among the undecided but leaning towards...