The Contrarian Investor: For life after populism, look to India

clock
The Contrarian Investor: For life after populism, look to India

Populists are all the rage today (except in Austria) but if we want to understand what they might do next - and the likely impact on share prices - maybe it is time to contemplate recent events in India.

Prime Minister Narendra Modi rode a wave of populist, elite-bashing nationalism into power, promising to drain the swamp of local politics and kick-start growth.  Back at the beginning of November, his BJP government finally delivered on their reforms in the shape of a mighty bazooka called demonetisation. Overnight, on 8 November, the government decided to scrap Rs500 and Rs1000 notes, which were equivalent to 86% of the value of cash in circulation, worth $256bn. Large parts of the economy have been paralysed as banks struggle to exchange old notes, largely because not enough new no...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Asia

Tom Baird of Redington

Emerging markets ex China - is this the future?

Separate allocation

Tom Baird
clock 26 July 2022 • 4 min read
Chris Brightman is the CIO and CEO of Research Affiliates

Research Affiliates: Real interest rates will remain higher even after inflation is tamed

Tougher conditions for capital markets

clock 22 July 2022 • 4 min read
Arthur Lau of PineBridge Investments

Asia Fixed Income: on a firm foundation

US interest rates little impact

Arthur Lau
clock 20 July 2022 • 3 min read
Trustpilot