Modi’s tumble good news for India’s economy – Asia Times

Around his Bharatiya Janata Party ( BJP) is crashing down the veneer of strongman immunity that has ensnared India’s Narendra Modi for nearly 25 years.

The prime minister’s reliance on friends to form a government is already the subject of market sentiments. If enough seats are secured, a BJP alliance could form a state.

Modi’s group fell little of the 272- chair majority on its own. The National Democratic Alliance, led by BJP, seems on course to safe 293 tickets. 229 chairs might be won by the antagonism Indian National Developmental Inclusive Alliance.

It’s anything of a social “black bird” for a guy who’s dominated Indian politics since 2014. But whose tale had been permeated ever since he became Gujarat’s deputy minister in the early 2000s.

He was given folk-hero reputation that captivated the nation as a result of the northern state’s economic successes during Modi’s presidency. Year after year from 2001 to 2014, Modi’s plans typically generated faster gross domestic product, greater productivity and innovation, less government and fraud, and better facilities than the national statistics. &nbsp,

In 2014, citizens returned the BJP to strength in hopes Modi may use the” Gujarat&nbsp, type” throughout Asia’s third- biggest market.

Clearly, the last decade did n’t go as many of India’s 1.4 billion people had hoped. This time around, Modi’s inability to win a majority of parliament chairs speaks to the growing distance between soaring economic reform speech and real-world application. Modi’s&nbsp, Gujarat&nbsp, unit, it seems, is n’t as flexible as voters had hoped.

But there’s a silver lining to Modi’s vote fail: forcing Modi’s inner circle to rely less on his Hindu nationalist agenda and more on spreading the benefits of India’s 7 % progress. The BJP will probably change its position in light of rising inequality by changing its liberal constitution.

According to economist Shilan Shah at Capital Economics, Modi will start his second term with a weaker mandate that will make the passing of controversial economic reforms more challenging. However, he did continue to serve as the leader of a steady partnership.

Shah added that” the new government could still do much to maintain potential progress at 6 %- 7 %” given the wider acceptance across the political spectrum of the value of financial reform. That may allow the economy to grow by more than doubling over the next ten years.

In recent months, says Ian Bremmer, chairman of Eurasia Group, extended- time India watchers had noticed “scant mentions in his campaign rhetoric of the Hindu- patriotic agenda that dominated many of&nbsp, Modi’s previous two terms, and with good reason. Modi&nbsp, has mostly fulfilled his vows to the propagandists”.

Bremmer adds that” then firmly in strength, &nbsp, Modi&nbsp, is looking to turn the volume down on social issues as he pursues economic growth”.

Not as firmly as hoped, though, leaving Modinomics at anything of a fork in the road. Current actions by China to restore its house sector, which may help to sharpen the BJP’s focus on financial retooling, are emboldening the plot.

The China versus India argument broke out in the lead up to an vote that started in April, with Mumbai frequently taking the lead. The almost US$ 7 trillion Foreign investment fall from 2021 to early 2024 sent ripples of investment Mumbai’s method.

China, however, has since resurrected its capital march game by telegraphing significant steps to end the property crisis. Chinese President Xi Jinping’s team released new information in the middle of May, including urging local regulators to buy empty properties and lowering the amount that home buyers need for a loan.

It’s the most forceful move to handle a crisis that has hampered Asia’s largest sector for years. And there is growing hope that Xi and Premier Li Qiang are on the verge of a policy combination that will positively affect China’s financial outlook.

As his celebration plots its third-term plan, Modi’s math becomes more complicated. For India, the idea of a powerful Chinese bounce is a dual- edged sword.

Rising Taiwanese need is an obvious plus for India’s manufacturing sector, which grew in fame on Modi’s view. However, China‘s luring again trillions of dollars worth of worldwide investment, of which India Inc. flocked, would be a depressing blow for Mumbai shares.

Researchers at UBS speculate that one of the factors contributing to India’s wealthy prices might have been the political stability and plan certainty that a strong government provided. ” Some of those beliefs may appear under question” given the vote results.

Carlos Casanova, scholar at Union Bancaire Privée, says buyers have been cheered by the ruling government’s capital market- helpful reforms. They include the company’s” Make in India” initiative encouraging local businesses to establish local factories and foreign companies to place bets on local businesses.

” Besides, Modi has also published plans for India to become a developed nation by 2047, &nbsp, which will require&nbsp, investment into infrastructure and growth of around 8 % per annum”, Casanova notes.

” Given the structure of Indian markets, we observe a strong correlation between GDP growth and]earnings per share ] growth. High quality, high visibility earnings may fuel Indian equities higher in the months ahead”, he adds.

According to UBS analyst Sunil Tirumalai,” the bargaining power shifts materially within the alliance as BJP does not have a simple majority.” In contrast to expectations last week, the market may have taken the majority of the possible scenarios from this.

According to Goldman Sachs analysts,” India needs to continue to adhere to structural reforms, such as land and labor market reforms, while creating a conducive environment for millions of workers to be earnfully employed, to realize its true growth potential.”

This could be the equivalent of Warren Buffett’s famous observation that “only when the tide goes out do you discover who’s been swimming&nbsp, naked”. China’s growing appetite for international capital may reveal how policy-wise Modi’s government has been policy-stylish for a while.

” When I hear India called the world’s fastest- growing economy, I get very agitated”, Princeton University economist Ashoka Mody, author of&nbsp,” India is Broken”, tells the Guardian. That is not the paper they’re written on, the numbers are not worth.

Mody is hardly alone in arguing that, below the surface, India’s supposed economic boom under Modi is n’t all it appears.

” All that glitters is not growth”, write economists at Nomura&nbsp, Holdings in a recent note. Underlying growth is “less than what the headline suggests.”

The reason, &nbsp, Nomura&nbsp, reckons, is that India’s growth “is primarily supported by strong public capex growth, while private consumption and private capex remain subdued”.

India’s vital agricultural sector, meanwhile, has “underperformed”. To be fair, as&nbsp, Nomura&nbsp, points out, certain industrial sectors are indeed “resilient”. Look no further than the fact that more than 7 % of Apple Inc.’s iPhone production is currently done in India.

Yet there are growing worries that India’s 7- 8 % growth is n’t producing nearly as many new jobs as hoped.

Arvind Subramanian, a top former chief economic adviser to New Delhi, has warned that GDP data trends are “absolutely mystifying” and “do n’t add up”.

Subramanian believes that the government’s implied inflation figures range between 1 % and 1 %, but that actual inflation ranges between 3 % and 5 %. ” What’s more, he says”, the economy is growing at 7.5 % even though private consumption is at 3 %.”

” So it’s a lot of stuff about the numbers which you know, I do n’t understand,” Subramanian says”. These are not incorrect, in my opinion. That’s for others to judge.”

India’s economic momentum is n’t a mirage, but it also does n’t seem as efficient in sharing the fruits of rapid GDP as widely as Team Modi likes to argue. It echoes, in some ways, what befell Modi’s party back in 2004, when it lost power.

At the time, then-prime minister Atal Bihari Vajpayee fought for re-election with a opulent” India Shining” campaign that highlighted the optimism that was rumored to be sweeping the country.

Yet hundreds of millions of Indians not feeling&nbsp, Vajpayee ‘s&nbsp, economic magic showed the BJP the door. Fast- forward 20 years and the BJP seems to have reached another Wile&nbsp, E&nbsp, Coyote&nbsp, moment where the Indian masses realized the road below had disappeared.

For Modi, this moment must really sting. He largely influenced the outcome of the election. His face and the slogan” Modi’s Guarantee” were displayed on the nation to persuade voters that better days are yet to come.

What Modi’s disappointing election showing means for Indian foreign policy is anyone’s guess. Few observers anticipate much to change about Modi’s dual-track plan to maintain a leadership position in the Global South, or developing nations that account for the majority of the world’s population.

Yet for Modinomics, this electoral reality check could indeed refocus attention on much- needed steps to reduce bureaucracy, attack corruption, increase productivity, up investments on education and training and rewrite laws concerning land, taxes and the legal system.

And to prevent the significant economic lead that China has positioned against India in his third term from widening even further. &nbsp,

Follow William Pesek on X at @WilliamPesek&nbsp,

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Australia wants to become a renewable energy superpower. Can it?

1 minute ago

Hannah Ritchie,BBC News, Sydney

BBC Maia Schweizer BBC

A vast facility housing a scientific breakthrough is hidden among heavy bushland in the southern suburbs of Sydney.

The Asian company SunDrive Solar uses a brand-new, top-secret method to claim to have solved” a very high value problem” in this area.

Its huge development? Finding a way to change solar cells ‘ silver with metal, which was originally believed to be difficult.

” Gold is expensive, scarce and socially disastrous, and it limits how many solar can be rolled out around the globe”, explains chief commercial officer Maia Schweizer.

” Brass is also highly in demand, but it’s 1, 000 days more numerous, and 100 days lower value”.

The start-up is one of the beneficiaries of the government’s Coming Made in Australia program, a collection of policies that invest in local alternative industries to make the nation a “renewable energy superpower.”

But some experts question whether the$ A22.7bn ($ 15bn, £11.8bn ) package, which comprises tax incentives, loans, and kick- starter grants- is enough to meet those lofty ambitions.

And according to climate scientists, Australia must cease selling fossil fuels if it wants to be a significant participant in the net-zero change.

Australia’s market has long been powered by its natural sources, such as coal, oil and iron ore.

However, its essential minerals are exported raw and refined abroad, most of which are used to support important lower emissions technologies.

Australia has earned a reputation as the world’s rock thanks to its dig-and-ship model of trade, which has also resulted in significant loss of significant change farther up the supply chain.

One indication of lithium-based batteries that store solar energy and power electric cars is used.

Despite being responsible for more than half of the world’s supply, Australia captures just 0.5% of the global $57bn lithium battery market, according to the country’s national science agency.

The Coming Made in Australia plan, which was officially announced in April, aims to change that by providing tax breaks and money to businesses that process crucial minerals at home.

Doing so, the state argues, is a national surveillance concern, as countries examine their business dependence on Beijing, and seem to protect themselves against supply chain shocks.

” This is not old- made isolationism or protectionism – it is the new opposition”, Prime Minister Anthony Albanese said, when announcing the program.

” We need to aim higher, be strong, and create large, to match the size of the option in front of us”.

Alpha HPA Rob Williamson at work at Alpha HPAAlpha HPA

Alpha HPA, based in Queensland, is one of the businesses that the government has chosen to carry out its perspective.

Similar to SunDrive, it sees itself as a industry because it can produce high-quality aluminum items that are used in applications like semiconductors and iPhones with less carbon footprint than their outside competitors.

One of the largest aluminium factories in the world is being built close to the coastal town of Gladstone, thanks to a$ 400 million federal loan, according to the company’s claim that it will result in hundreds of local jobs.

According to Alpha HPA’s chief operating officer Rob Williamson, there is still skepticism about whether Australia may produce goods, given that the company has historically outsourced its manufacturing to China.

” Anybody that puts forward the case that we do n’t have people in this country to do]this work ] is just not trying”, he adds.

SunDrive is on a similar trip.

Without government aid, Ms Schweizer says, the firm might have moved abroad.

Rather, it wants to turn one of the nation’s oldest coal power plants into a large solar panel manufacturing gateway.

Currently, one in three Australian households have solar panels, the highest rate in the world, and yet only 1% are made locally – with China responsible for more than 80% of global production.

” Every one material that you need to create a solar panel, we’ve got one of the best three resources in the world”, Ms Schweizer explains.

” Then there’s the possibility of the finish- to- finish value chain coming inland in Australia for the first time, which is very, very exciting”.

The Made in Australia pledge has won the support of the country’s biggest renewable energy industry trade bodies, who say the investments could be “game changing”.

” It’s a great option for us to be an exporter of climate solutions to the world instead of climate issues”, John Grimes, who heads the Smart Energy Council, says.

But some climate experts warn it is being “severely undermined” by the government’s recent decision to champion gas until 2050 and beyond despite global calls to rapidly phase out fossil fuels.

” We’re sending a genuinely mixed information to traders”, says Polly Hemming, the chairman of the Australia Institute’s environment and energy project.

Alpha HPA Alpha HPA production facility Alpha HPA

” This state has continued to review fresh gas and coal projects- it’s flown to Japan, India, Korea, and Vietnam to secure long- word markets for gas and coal.

” If we really wanted to be a green energy superpower, we would n’t be relentlessly pursuing customers for our fossil fuels,” she says.

One of the nation’s leading climate scientists agrees.

According to Prof. Bill Hare, chief executive of Climate Analytics and author of numerous UN climate change reports,” there is a very deep contradiction at the heart of the two policies.”

” The Future Made in Australia]plan ] is playing second fiddle to the government’s gas strategy.”

To understand how, Ms Hemming says you need to” follow the money”.

According to an analysis from her thinktank, last year alone, state and federal governments spent A$ 14.5bn subsidising fossil fuel use across Australia, and that sum is only expected to balloon, according to budget estimates.

By contrast, she says the A$13.7bn set aside to process critical minerals and incubate Australia’s nascent green hydrogen industry “isn’t real money”.

That’s because it will take the form of tax breaks over the course of a decade, which can only be cashed in on production starting from 2027 – a model which policymakers say will ensure taxpayers’ money is not wasted.

However, none of the green hydrogen projects are finished, many of which are being led by the nation’s largest mining and energy companies. If there is a change in the government, the incentives could be eliminated before they become effective.

It’s like I have a healthy eating and junk food policy in place at the same time in my house and tell my kids,” You can have$ 10 a week now if you keep eating junk food,” she says.

” Or,’ I’ll give you$ 2 in 2027 if you switch to broccoli’. What do you think they are going to prioritise?”

Given that the green hydrogen industry is still in its early stages and full of unknowns, some energy experts have also doubted the business justification for it.

Others worry that it will slow down climate action and derail investment away from renewable energy sources that have already proven their worth.

However, Mr. Grimes claims that green hydrogen will play a crucial role in” sliming emissions” from Australia’s carbon-intensive mining sector as businesses look for cheap green fuel to keep running their businesses.

And bigger picture, he argues that the government’s new green investments should be assessed as” a milestone first step “rather than an end point.

The government is aware that Australia could become the Kodak economy of the future: a big deal one day and completely irrelevant the next if it does n’t move beyond its coal, gas, and iron ore exports soon.

Getty Images Iron ore being loaded at a mine in Western AustraliaGetty Images

Not just Australia is trying to be the engine room of the new green economy, but it is also looking to.

Dozens of nations are putting forward ambitious proposals, such as the European Union’s Green Deal or America’s gargantuan Inflation Reduction Act.

According to the International Energy Agency, policymakers have invested over A$ 2tn in clean energy initiatives globally since 2020.

But Australia has some compelling natural advantages, such as enviable wind and solar capabilities, stores of critical minerals and rare earths, and a strong mining infrastructure network that can be repurposed.

All the experts the BBC spoke with agreed that if used correctly, it has every chance of securing its position as a crucial green trading partner among allies.

Getting there though, they say, will require even greater investment – particularly in research and development, which is currently at 30-year lows.

And they’ve warned that the government ca n’t afford to stutter on a topic that Mr. Albanese himself has addressed head on.

” We have to get cracking. We have unlimited potential, but we do not have unlimited time.

” If we do n’t seize this moment, it will pass. If we do n’t take this chance, we wo n’t get another. If we do n’t act to shape the future, the future will shape us”.

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India stocks fall on election uncertainty

After the government’s general election, which indicated that Prime Minister Narendra Modi’s party may not be able to type a majority government, American companies have fallen sharply.

The standard NSE Nifty 50 promote score closed down nearly 6 %, its steepest decline since March 2020’s first Covid lockdowns in India.

First results suggest that Mr. Modi’s social group may need to concentrate on friends and form a partnership government.

That could lead to confusion over economic plans, some experts said.

The NSE Nifty 50, which comprises stocks in various big companies, had plunged 8.5 % at one point but ended the day down 5.9 % at 21, 884.5 points.

The S&amp, P BSE Sensex also fell sharply, closing 5.7 % lower at 72, 079.05.

The dollar slid 0.5 % against the US dollar, its biggest fall in 16 months.

More than half the seats have been counted in India’s public poll, and Mr Modi’s Bharatiya Janata Party ( BJP) looks unlikely to secure a majority in the 543- part lower house of parliament.

It might have to rely on the National Democratic Alliance ( NDA ) allies to form the new government.

Experts suggest that could lead to some doubt over economic plans, such as a force for expense, which has been one of the mainstays of the Modi government’s principle.

” The important question is whether BJP may preserve individual- gathering majority”, Ken Peng, head of investment strategy, Asia, at Citi Global Wealth, told Reuters.

” If not, then do its coalition be able to provide economic development, especially infrastructure”?

Puneet Sharma, the new government’s chief executive and fund manager, told Reuters that if it relies on coalition companions, it “may change its target” to put more emphasis on security “rather than focusing on reforms during the July finances.”

Legislatures in the Hindu nationalist BJP in 2014 and 2019 were won.

After leave surveys over the weekend suggested Mr. Modi and the BJP did win a major success, industry had spiked on Monday.

However, it appears that the BJP may struggle to achieve a majority on its own.

Fiona Cincotta, a industry analyst, reported to the BBC that important American share indexes had been “really battered.”

She added that there had been some “very great fallers” in individual companies, including oil and gas company Reliance Industries, and Bank of India.

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Why Russians still embrace the war – Asia Times

Vladimir Putin, the president of Russia, arrived in Beijing for a two-day visit on May 15, 2024, and Chinese President Xi Jinping welcomed him with a dark floor greeting.

The two officials pledged a “new age” for the Russia- China marriage, building on their” no limits relationship” struck only before Russia’s 2022 invasion of Ukraine. Putin’s first overseas vacation since winning election in March was a case in point, highlighting both his and Russia’s unwavering support of the Ukrainian conflict.

Putin won 87 % of the vote from a record-high voter turnout despite Russia’s election in 2024 being marked by widespread persecution of severe alternative events and candidates and decades of brazen remarks about Russia’s “managed” politics.

Yet with some self- censorship and a small drop in approval, the Russian public also generally backs the war, despite a mostly static frontline, the severance of ties with Europe, declines in living standards, and the deaths and injuries of hundreds of thousands of Russian soldiers.

Ukraine, a country that Putin and some Russians consider to be a brotherly country and the family tradition of Russia, has a remarkable number of casualties.

In comparison, a few years after the problems began, US local support for the wars in Afghanistan and Iraq began to decline significantly, and there were signs of a drop in Soviet public support for the war that soon followed.

However, although the costs of Russia’s war in Ukraine continue to rise and it appears far from finish, various reasons have compelled Russian citizens to maintain supporting the war and the senator who initiated it.

Russia’s opposition to war faces unique difficulties not experienced in the US, but convincing a populace that war is inevitable is crucial for any government to carry out a war effort.

The Kremlin’s military exercises represent a noble effort by the country to protect ethnic Russians and Russian speakers from Kiev’s fascist regime, a claim that has been shared by many Russians and the country’s involvement in World War II.

Highlighting growing restrictions on the Russian language in Ukraine furthers this message while Russia’s excuse that they were answering cries for help in Ukraine echoes their 1968 invasion of Czechoslovakia.

In addition, Russian media uses the country’s forces to question President Volodymyr Zelensky’s legitimacy because Ukraine is accused of killing civilians in Russia and Ukraine’s failure to hold scheduled elections in 2024 has been used to undermine its legitimacy.

Volodymyr Zelensky, the president of Ukraine, is described as illegitimate in Russia. Image: X Screengrab

Putin has used a historical and patriotic lens to interpret the invasion by portraying Ukraine as the mother culture of Russia. The conflict is seen as an internal struggle to reaffirm Russian dominance over the country’s ancestral homeland, which gave birth to the Russian language, religion, and political roots against an illegal Ukrainian government that is currently occupying the nation.

Russian nationalism can be rallied by invoking ethnic unity, territorial patrimony and the need to rectify Ukraine’s separation from Moscow, making it easier to dismiss Ukraine’s sovereignty.

Russia has also deflected its UN Charter violations against non-aggression by portraying itself as an aggrieved party that was forced into war by the US-led West and its vassal states. It is a sentiment that is supported by well-known figures like Slovakia’s Prime Minister Robert Fico, who declared that Ukraine was under Washington’s total control in January 2024.

On May 1, 2024, an exhibition of captured Western weapons, vehicles and equipment since the start of the war opened in Moscow – much like Kiev’s in May 2022 which showed captured Russian equipment.

The Kremlin makes a strong connection to the conflict, not the least of which is the most recent ISIS attack in Moscow. The American public, however, started to think that US leaders had misled them into supporting the War on Terror, particularly the Iraqi conflict, which it believed could have been avoided.

Russians ‘ support for the war has manifested as the culmination of decades of “patriotic mobilization” that has taken place since Putin’s first term. Since the invasion, there has been a significant increase in the spread of nationalist sentiment, which is pervasive across all forms of media, culture, and politics.

Russian identity is increasingly woven into the existential need to defend Russia from NATO, boost Russian military might, and protect its reputation abroad.

Preparing and instilling confidence in the Russian armed forces ‘ ability to sustain a major conflict has been ongoing for decades. In the 2000s, Russian forces carried out counterinsurgency operations in the restive region of Chechnya and supported a limited conflict in the neighboring Georgia in 2008.

In 2014, Russian forces seized Crimea from Ukraine and fought a limited conflict to support Ukraine’s tense border region with Russia. In 2015, they launched a major military operation to rescue Syrian President Assad in 2015.

The significant escalation of Russia’s conflict in Ukraine in 2022 did not come as a surprise because Syria had been relatively successful. This contrasts with the perceived failures of Western military engagements in the twenty-first century, which have resulted in domestic confidence in the US military declining.

To alleviate domestic concerns stemming from severing Russia’s historical connections with Europe, as well as distancing by other countries to comply with Western sanctions, Putin has embarked on a series of foreign trips to show Russia’s resiliency.

Visits to Belarus and other former Soviet Union nations in Central Asia and the Caucasus have helped to stabilize its regional influence. Russia has hosted dozens of foreign leaders from the Global South, as well as those of Hungary and Austria, and visits to Iran, Saudi Arabia, and the United Arab Emirates have served as a way to demonstrate its enduring influence in the Middle East.

However, Russia’s ties with China form its most crucial bilateral relationship. Putin’s May visit to China confirmed Moscow’s strategic relationship with Beijing despite the power imbalance.

Russian President Vladimir Putin and Chinese President Xi Jinping are each other’s brothers.

Russia’s capacity to confront the US and collaborate with other major powers offers reassurance that has erased much of the pain of the geopolitical decline that accompanied the Soviet collapse. Moscow has also aimed to counteract any Western moral superiority in Ukraine by highlighting Washington and Kiev’s continued support for Israel.

The Kremlin hopes to legitimize its policies and expand Russia’s appeal to the Global South by framing it as part of Russia’s struggle with the West for a new multipolar world order.

Following the Nigerien government’s expulsion of US troops in May 2024 and the invitation of Russian forces, images of Russian troops entering the same airbase where US military personnel were stationed further underscored Russia’s assertive struggle with the West and wider geopolitical ambitions.

Additionally, Russian citizens have received subsidies for fuel, food, and other essential resources to protect them from the effects of the war’s economic effects. The presence of significant foreign reserves and gold has helped to fund the war and stop prolonged currency volatility, while the imposition of severe sanctions on foreign companies considering leaving Russia has dissuaded many Western companies from leaving or forced them to pay significant costs.

Russia’s major economic partners, most importantly China and India, have helped maintain stability in Russia’s exports and imports. By design, sanctions from the West have not severely affected the Russian economy, as preventing Russian resources from reaching global markets would cause prices to rise.

Additionally, the public of Russia has been largely spared of destruction. Ukrainian attacks within Russia have mostly been limited to small flareups in border regions and attacks on energy and transport facilities while Ukrainian forces are still restricted from using Western weapons. Despite rising sabotage attacks, the situation is manageable in Russia.

No Russian civilians have been vehemently engaged in combat, in contrast to Ukrainian citizens. The 2022 partial mobilization called up reservists, while recent changes to laws have meant Russia has been more easily able to offer generous contracts to annual conscripts soon after their training has concluded.

Russian media can assert that it only employs volunteers and those who are already enlisted in the military in comparison to the forced conscription videos in Ukraine. Russian soldiers who are injured, as well as the families of Russian soldiers who lost their lives while serving, are paid a lot of money.

Though payment is often delayed, the modest backgrounds of most Russian soldiers mean that these funds can be life- changing. Regular Russian soldiers have also been shielded by the use of prisoners in particularly risky military operations, with Ukraine only considering this aspect earlier this year.

Tens of thousands of Russian soldiers have been killed and hundreds of thousands more have been seriously hurt, though. This tests the casualties hypothesis, which states that the public’s willingness to remain engaged in a military intervention declines as casualties mount.

In the war, hundreds of thousands of Russian soldiers have been hurt. Egmont Institute, Facebook, or Screengrab in image

The Soviet Union’s 10- year war in Afghanistan saw 15, 000 Soviet troops killed and eventually helped lead to the downfall of the country, while the deeply unpopular Iraq War saw 4, 500 US soldier deaths and saw the Bush administration’s popularity decline considerably.

Official casualty figures are undoubtedly distorted by the Russian government. However, it is crucial to situate Russia’s losses in Ukraine in light of recent events. The Covid- 19 pandemic claimed more than 400, 000 Russian lives, far surpassing the casualties in Ukraine.

Additionally, the large number of deaths of prominent Russians since the start of the war may have influenced the Russian public’s stomach in the face of such significant losses.

The conflict and its effects have been documented in Russian media as evidence of a sense of collective sacrifice among the country’s most powerful individuals who are able to be killed and have their assets confiscated.

Amid the chaos of the war, dozens of Russian oligarchs and political figures have been killed in suspicious circumstances both in Russia and overseas, in a public settling of scores, opportunism and punishment from the Kremlin for disobedience.

Alexander Tyulyakov, a senior executive of Gazprom’s corporate security, was discovered hanging in his garage a day after Russian forces entered Ukraine.

In September of this year, Ravil Maganov, the chairman of Russia’s oil giant Lukoil, allegedly fell from a hospital window. In December, businessman Vladimir Bidenov died of heart problems at the Hotel Sai International in India – two days later his business associate and deputy in the Legislative Assembly of Vladimir Oblast, Pavel Antov, fell out of a window at the same hotel.

While the deaths of oligarchs and politicians may provide some comfort to regular Russian soldiers stationed in Ukraine, there has also been a significant loss of senior military figures.

Some, like Lieutenant General Vladimir Sviridov, were killed as well in ominous circumstances, such as in an unknown location. However, the necessity for high- ranking Russian military officials to remain near the frontlines, owing to a more top- down decision- making military structure and the risk of electronic eavesdropping by Ukrainian and Western advisors, contributes to their higher casualty rate.

Russia has confirmed that seven general officers had been killed in Ukraine by 2024, with Ukraine claiming more than 14 had already been killed by the start of 2023, in addition to hundreds of other high-profile deaths.

No US general has lost his life in combat since the Vietnam War’s last fatal encounter occurred in 2014 when an Afghan service member opened fire on NATO personnel in Kabul.

With this backdrop of sacrifice and solidarity among Russian elites, Russia’s “rally -’round- the- flag” effect may sustain itself longer than expected.

Russians appear to believe that time and demographics are in favor of them. After decades of emigrating, the share of Russians who wanted to move abroad hit a record low, partially as a result of many of those who wanted to leave already did so. According to a March 2024 poll by Russia’s Levada Center.

However, according to Finion, a Moscow-based relocation company, 40 to 45 % of Russians who fled abroad have since returned, as a result of factors like tighter regulations for remote work, visa issues, reduced fears of conscription, and general desire to return.

And while tens of thousands of Russian soldiers have perished in occupied areas of Ukraine, along with thousands of more ethnic Russians, millions of those who reside in those occupied territories have already been incorporated into the Russian Federation’s 144 million citizens before they are over.

Conversely, Ukraine, with 37 million people before the war, has faced a population exodus compounding already challenging demographics.

By the early 2024 period, the general opinion was that Russia had a fragile advantage. Although potentially pyrrhic, history appears more and more likely in Russia, if loosely defined. Yet, as the conflict drags on, sustained by a Russian economy increasingly geared toward the war, the pursuit of victory may wane as casualties and other costs mount.

In the Voronezh Region, Russia, service members of the engineer-sapper regiment take the military oath. Press release from the Russian Defense Ministry

The Kremlin’s anxieties are now focused on Western nations, led by the UK, France and Poland, allowing Ukraine to use Western weapons in Russia, which would further bring the war home to Russian civilians and internal infrastructure.

Tensions are unquestionably high in the Kremlin despite the public’s perception of calm. Estimates of Russia’s ability to sustain the conflict in its current state typically range between two and three years.

Yet unwavering support for Putin, coupled with the absence of viable alternatives, may extend his strong personal commitment to the war indefinitely. Russia appears capable of and determined to fight the war, but its uncertain future will continue to put pressure on the country’s conceited support for it.

In the West, Putin’s willingness to keep the war is seen as something to exploit. Western policymakers have witnessed Russia increasingly commit its domestic resources to the conflict, as well asrecently shift from calling it a” special military operation” to a war.

Russia’s Soviet arsenal and foreign arm deployment will continue to wear down as a result of Russia’s steadily advancing technological capability to fight a war of attrition, demonstrating the weakness of Russia’s production and advanced weapons systems.

It is anticipated that a second major convulsion across the former Soviet Union will further reduce Moscow’s geopolitical influence by provoking a Russian defeat.

Russia’s protracted military campaign and the West’s strategy of prolonging the conflict through escalation management will keep exacting a catastrophic toll on Ukrainian lives and infrastructure.

John P. Ruehl, a journalist from Australia and the United States who works for the Independent Media Institute, is a correspondent for the Independent Media Institute on world affairs. He contributes to several other foreign affairs publications as well as contributing editor to Strategic Policy. His book, Budget Superpower: How Russia Challenges the West With an Economy Smaller Than Texas ‘, was published in December 2022.

This article first appeared on Independent Media Institute, and it has since been republished with kind permission.

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US economy more centrally planned than you think – Asia Times

A heated argument erupted during the Cold War over the significance of financial planning. Did the “planned” sector of the USSR or the “free business” sector of the US manage assets more effectively?

The rigidity of unified plans, the limitations of information processing, and the viability of production forecasts were the main objections to planned economies.

The collapse of the Soviet Union appeared to confine the idea of financial planning to the past. But the troubles raised during those discussions are also important today.

The top 1 % of American businesses account for 80 % of sales revenue and 90 % of production-related assets according to new research. The majority of US monetary activity is therefore attributed to a fairly small number of companies.

Planning, especially the coordination of activities across global supply chains, is a major tactical target for these businesses. Americans often consider the value of planning, but it is a significant factor in both the presence of consumer goods and the general market.

Thousands of products, thousands of deals

As a teacher who teaches on supply chain issues, I have worked to comprehend the ramifications of planning.

The term” supply chain preparing” refers to the set of iterative, connected decisions intended to keep companies ‘ capacity, inventory, and other resources at the highest possible level. It incorporates a variety of decisions over a variety of time frames, from near-term timing of deliveries to longer-term efficiency of global supply networks.

Managers also determine the amount of products to produce or purchase in response to changing customer demands. And most importantly, they devote the time needed to make sure products arrive on time, at the right position, and in the correct form. They accomplish this frequently, across thousands of products and thousands of daily transactions.

Consider a common Walmart store, which offers around 120, 000 unique products – officially known as stock- keeping units, or Product – at any given time. These items may be made available in over 10,000 locations around the world, as well as online and in homes, 24 hours a day, seven days a week.

A clerk is seen restocking antiperspirant deodorants at a Florida Walmart store.
Natural or powders new? Each fragrance type has a distinct SKU. Photo: Jeffrey Greenberg / Universal Images Group via Getty Images / The Talk

And they must be made available in an assortment that shifts regularly, often dramatically, based on consumer tastes and outdoor activities. A continuous search for lower output costs may be fueled by goods ‘ competitive prices.

Planners make an effort to arrange this enormous network of people, goods, and locations in a way that successfully combines supply and demand.

Sometimes plans work, sometimes they do n’t. Clear shelves and lengthy wait times are the most obvious indicators of planning function. Less obvious are billions of dollars in extra inventories. Development delays and enormous waste down the supply network are even more seriously hidden.

These dysfunctions are ubiquitous in most organizations. However, the Covid- 19 pandemic revealed what many planners previously knew: dated planning techniques, talent gaps, and overstretched supply chains prevent businesses from delivering the goods.

Designers have relied on enterprise resource planning techniques, a type of business-management software, for decades to combine their main business processes, from the purchase of raw materials to the point of purchase. These techniques, which were developed in the 1990s but frequently based on versions from the 1960s, are firm and have several built-in flaws.

What’s more, organizations often use tens – often several – of different techniques to control workflows and databases. Planners must gather insufficient information from a variety of sources to determine powerful supply and demand requirements as a result.

Automation’s possible

Technology, especially when it incorporates learning systems, has tremendous possible for overcoming technical problems. But the data requirements are daunting.

The dangers of automating decisions based on a forecast will be apparent to those of us who have a pantry full of toothpaste because we subscribed to a set-it-and-forget-it delivery service. For a global supply chain to address that issue, it requires extremely high-quality data and sophisticated analytics. Most companies are n’t there yet.

Even if the systems are operational, it is n’t clear whether the people required to run those systems are qualified. Businesses are increasingly relying on planners to manage the supply chain.

However, the knowledge, abilities, and attitudes required by today’s planning professionals are fundamentally different from those required a few years ago. Planners today must be far more comfortable managing ambiguity, leading change and adapting to new technologies.

The supply chain is plagued by labor shortages and training issues as a result of the need for planning talent. Although new educational initiatives have been made, it will take time to develop the required skills.

Finally, the global scope of today’s supply chains creates daily challenges for planning. Even assuming a business has the tools and people necessary to spread inventories around the world to optimize for upcoming demand, it still needs to move that inventory.

So, in addition to solving a complex demand- supply matching problem, planners must execute that solution with planes, trains, trucks and ships. Even a fleeting glance at the headlines will show you just how challenging that can be. Global conflicts and infrastructure failure are among the risks.

Companies are gradually establishing more regional networks and moving their supply chains to less risky locations. However, it takes time to add business partners and create new facilities. It also takes systems and talent, because it’s planners who will make these decisions.

A brave new- ish world

The issues that businesses are currently facing resemble the Cold War economic planning debates, with many of the same issues resurfacing. There are significant differences between centralized planning in the Soviet Union. However, a growing number of companies have plans to control large portions of the US economy.

For individual companies, planning failures can easily lead to business failure. And planning errors lead to excess and scarcity at the economic level. That translates to too much material, but not the necessary elements for people to improve their lives.

As the US economic system faces its own challenges, the question may be whether it’s possible to plan our way to prosperity.

The University of Tennessee, Knoxville’s Haslam College of Business, has Daniel Pellathy as its director of operations and practice assistant. &nbsp,

The Conversation has republished this article under a Creative Commons license. Read the original article.

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Toyota: World’s largest carmaker raided over safety scandal

As a controversy over damaged health data escalated, Japan’s transportation department raided Toyota’s headquarters on Tuesday.

The largest car manufacturer in the world has expressed regret for providing inaccurate or controlled information for security certification exams.

The controversy has shaken the Chinese auto market, with Honda, Mazda, and Suzuki’s competitors also revealing faulty data submissions.

In 2023, Toyota sold more than 11 million passenger cars.

According to it, the results do not have an impact on the security of the already-routined automobiles.

The Corolla Fielder, Corolla Axio, and Yaris Cross are the only three car models that the business has discontinued.

Additionally, it has been accused of using modified vehicles for health incident tests on broken ones that are no longer in use.

The attacks come one day after Akio Toyoda, the president of Toyota, apologized to consumers and auto enthusiasts.

He extended a deep grin and held the pose for a few moments, as is usual in Japan when businesses apologize for wrongdoing.

According to Mr. Toyoda,” we huge produced our cars without first taking the necessary precautionary measures” and “negligibly neglected the accreditation process.”

Honda, Mazda, and Suzuki, all of which are Japanese automakers, are also scheduled to undergo an inspection by the government over the same topic.

Honda claimed to have found wrong on tests involving engine power and sounds, but it has since stressed that its cars are safe to drive.

Some vehicles have been stopped, but Mazda has announced that it will pay the price to its suppliers.

However, the business added that it is not planning on issuing remembers.

The studies even apply to one discontinued Suzuki vehicle type.

Earlier this year, Toyota urged owners of 50,000 older vehicles in the US to get immediate repairs as airbag inflators made by Takata could explode and kill.

The” Do Not Drive” advisory covered some of the world’s biggest carmaker’s models from 2003 to 2005.

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Hazardous waste Illegally buried in 5 provinces

Hazardous waste Illegally buried in 5 provinces
Police discovered metal waste on Monday in the Ban Khai area of Rayong. ( Photo: Public Relations Office in Rayong )

Authorities are unearthing toxic waste dumped or buried improperly in Ayutthaya, Chon Buri, Nakhon Ratchasima, Phetchabun and Rayong regions, according to an assistant police chief.

Officers then have proof that two businesses, Win Process and Aek Uthai, had improperly buried business waste in the five provinces, according to Pol Lt Gen Thatchai Pitaneelabut, according to a statement from Thai PBS TV on Tuesday. Groups were locating and finding the waste.

He claimed that the businesses either rented stores in provinces to fraudulently business hazardous waste or had dumped the waste in trees and on farmland. Authorities were tracing the spare and would &nbsp, taking further legal action appropriately, he said.

In Ban Khai and Uthai districts in Rayong, toxic waste was discovered on Monday by police in Ayuthaya’s Uthai city.

Local residents in Rayong had complained to the government’s spare disposal division that had been buried it between 2013 and 2020. Authorities discovered aluminum waste, a byproduct of the aluminum melting process, on Monday in five of the six locations they had arbitrarily dug.

Police had previously pressed claims against 10 individuals, Pol Lt Gen Thatchai said.

The users appeared to have made successful proposals for the disposal of hazardous waste, but he claimed they had no purpose of doing so.

One of the defendants is Opas Boonchan, chairman of Win Process, who was arrested in Phetchabun late last month. The suspect was being detained in Rayong, according to the secretary federal police commander, and officers may continue to oppose his momentary release on parole.

He added that police were looking into whether the fire in Rayong&nbsp had also been purposefully set and that they were investigating fire in a blaze at a toxic waste center in Ayutthaya.

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Two shipping firms charged with discharging 100L of oil each into Singapore waters, polluting sea

Two shipping companies were charged in court on Tuesday ( Jun 6 ) with dumping about 100L of oil into Singapore’s waters by their oil tankers.

Under the Prevention of Pollution of the Sea Act, Hellenic Overseas Maritime Enterprises and Leth Incargo Marine Services each faced one command in individual cases.

Leth Incargo Marine Services was Pacific A Dorodchi’s representative, the command sheets claim.

At the Eastern Bunkering Anchorage A on November 29, 2022, the ship reportedly discharged about 100L of high-sulphur energy oil onto its deck and into Singapore lakes while the ship was receiving high-sulphur gas fuel from another fuel ship, the Maria Cosulich, at the same time.

Star Prosperity, a low-sulphur gas ship operated by Hellenic Overseas Maritime Enterprises, was receiving low-sulphur energy oil from another oil tanker, MT Decorum, another oil tanker operating at Eastern Bunkering Anchorage A on January 9, 2023.

A defined place off the beach where ships can buoy is known as an anchor. Singapore’s marinas, each with its designated function, are divided into three areas: Eastern, Western, and Jurong.

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Commentary: Trash balloons another sign of North Korea’s refusal to act within global norms

STRATEGIC Loneliness

The result of all this thoughtless, controversial behavior is loneliness. Unfortunately, this self-created loneliness conflicts with North Korea’s long-term aim of acceptance into the world on par with South Korea’s.

North Korea has clearly lost the inter- Asian rivals. Its wealthy knows this, since do its Russian and Chinese friends. Major program turbulence could lead to decline and reunification.

Recognizing and accepting this philosophical dilemma is the answer, as is accepting that North Korea should become a legitimate state in the world rather than the bizarre, destructive Korea that no one likes.

Recognition may lessen the North’s threat to US and South Korea’s security and, in some cases, encourage foreign investment and support. In the past, the North has made detente work with former US President Donald Trump and numerous democratic South Asian presidents.

However, all of these attempts have failed, primarily because the restless do not have the confidence to make difficult concessions to North Korea. It has long been a renegade position that has been unsocialized and obedient, and has the potential to bribe foreigners or sell meth to them.

We anticipate North Korea to build a balloon carrying garbage and faeces. It explains in its own little way why North Korea is still a distant and dysfunctional country 35 times after the Cold War.

Robert Kelly ( @Robert_E_Kelly ) is a professor of political science at Pusan National University.

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