India's External Vulnerability
26 September, 2018, C.P. Chandrasekhar & Jayati Ghosh
While the rise in oil prices explains the sudden deterioration of the current account balance in India's external payments, it also signals the vulnerability to inevitable shocks that is inherent in the changing structure of India's external trade relations.
GST: One more NDA failure
24 September, 2018, C.P. Chandrasekhar
From the beginning of its implementation it was clear that under the new tax regime it was unfeasible to have a single tax on all commodities, given the inequality in the country. The multi-tax structure adapted does not simplify the system much, and only promises to do away with the cascading effects of the erstwhile excise duties and sales taxes.
Who's Manipulating China's Exchange Rate?
11 September, 2018, C.P. Chandrasekhar & Jayati Ghosh
Contrary to western perceptions, the Chinese government’s attempts to manage the exchange rate over the past few years have actually been directed to shoring up its value, rather than forcing depreciation.
The Real Problem with Free Trade
11 September, 2018, Jayati Ghosh
Even if free trade is ultimately broadly beneficial, the fact remains that as trade has become freer, inequality has worsened. One major reason for this is that current global trade rules have enabled a few large firms to capture an ever-larger share of value-added, at a massive cost to economies, workers, and the environment.

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