Modern Yoga in the Place of Yogis

In the past decade the worldwide yoga industry has become a multi-billion-dollar business. Yet, ironically, the one country where yoga does not yet thrive commercially is the very place from which yoga is thought to originate: India. Why should this be?

This paradox emerges, in part, because the practice known as ‘yoga’ around the world is a modern invention of the globalised and capitalist 20th century. A brief look at the history of yoga may help to explain why this industry has not had a straightforward development in India.

China's Labor Market Adaptation to Slower Growth

As long as the labor market remains resilient and structural reforms deepen, the living standards of individual Chinese will continue to rise fast.

China's central bank cut the benchmark deposit and loan interest rates by 25 basis points from Sunday, which has been widely interpreted as an effort to prop up economic growth, which has been slowing. 

Indian PM Modi's Budget Highlights Mainstream Topics, but Falls Short in Some Areas

India is one of the fastest growing economies with a very young demographic and a huge potential for growth. Like any other economy, India too, focuses on controlling inflation and keeping its markets stable. Politics has been an integral part of Indian economy and the former seems to have a considerable influence on the latter. The common thread that binds the two is that of expectations. With the previous government being a part of large number of scams, the markets had slowly lost confidence leading to political instability and huge market fluctuations.

Understanding the Divide Between the German Workers and Elite

The differences between Eurozone members tend to be a key focus for investors and policy makers.  There is another fissure which is typically is under-appreciated.  It is within Germany itself and not discussed in polite company.  It is the divide between German workers and the economic elite.

The German economic model, under which it exports 40% of everything it produces, presupposes a highly disciplined work force, where employers keep the lion's share of productivity gains, fiercely resisting increases in unit labor costs.  

Keeping Asian Economic Momentum Means Engaging China

Economic institutions, international and national, are key factors in Asian development strategies. Those economies which have exhausted the growth gained from the traditional mobilisation of capital and labour are now reforming the supply-side institutions that encourage new sources of growth from innovation and productivity. Looking to the future, institutions are of increasing significance for taking up at least three roles: governing efficient global value chains, meeting the challenges of returning G20 growth to its long-term potential, and addressing climate change.

A Preview of this Week's Events Among the Emerging Markets

EM assets are starting the week mixed, as markets await fresh signals for trading. Between the various central bank meetings in developed markets (BOE, ECB, RBA, and BOC) and the US non-farm payrolls, there are plenty of sources of volatility.  We think the jobs data will underscore our call for a Fed takeoff around midyear. On the EM side, markets will be closely watching for a chance of dovish surprise out of Brazil or Poland, though we think the chances of this happening in Brazil are very slim. 

China's Xi's Speedy Power Consolidation in all Domains

When China’s President Xi Jinping took up his position in 2012, the Chinese Communist Party (CCP) lacked political leadership. His predecessor, Hu Jintao, had lost control of political power long before holding the 18th Party Congress. The result was a simmering political struggle that included Bo Xilai setting up his own kingdom in Chongqing and Zhou Yongkang openly violating the law. Just over two years later, Xi’s current position is a testament to his ability to consolidate his own power and his vision for China’s future.

Recent Debates Highlight the Negative Side of Singapore's Meritocracy

Recent debates on meritocracy raise questions as to what Singapore regards as merit. Several concepts have emerged reflecting how meritocracy is evolving in the Singaporean context, such as ‘compassionate meritocracy’, ‘trickle up meritocracy’ and ‘meritocracy through life’.

The 50th anniversary of independence is an opportune time for Singaporeans to deliberate; how they understand the country today, its driving forces, and the idea of meritocracy.

China's Investment in Kazakhstan Strong Despite Domestic Economic Slowdown

On 14 December 2014, the Chinese Premier Li Keqiang visited Astana for the 13th meeting of the Council of Heads of Government of the Shanghai Cooperation Organisation. The premier’s visit signified a new stage in Kazakh–Chinese economic relations. Li announced a new package of economic deals, totalling US$14 billion. Kazakhstan and China also agreed to establish joint enterprises in the manufacturing and other key industrial sectors.