Showing posts with label World War II. Show all posts
Showing posts with label World War II. Show all posts

Tuesday, June 4, 2013

Book Review: Che in Paona Bazaar

Thriving against odds

The North-East India has never been part of the mainstream narrative or development discourse in India. Ridden with armed conflicts over the years it has been treated like an imaginary flotsam. But senior journalist Kishlay Bhattacharjee tries to break this mindset through his new book. He asserts that North-East India is not an imagined community separated from the policies that govern the rest of the country. Che in Paona Bazaar: Tales of Exile and Belonging from India’s North East explores the landscape of distant corners of the region and dwells upon the life of ordinary men and women to capture their experiences. In his 17 years as a TV journalist, Bhattacharjee first gave voice to their stories. Now he has done this with words over 241 pages.

Why did he write this book? Bhattacharjee understands how media struggles to tell their stories. Bhattacharjee admits that he too struggled to represent the voice of the people there because it would be one story in weeks and he felt it was inadequate. So he decided the book has to be in the voices of those people and the author alone. “In my long years of interaction with the people of North East, I’ve felt  they could neither speak the truth of their experience nor even make it hear through the mainstream Indian media. This is an attempt to make readers interact with the real people and not imagined communities.”

However, the book is limited to certain areas in the region - Manipur, Guwahati and Shillong. But it is Manipur’s music, dance, food and the stories of its people that dominate the book.

Employing a fragmented narrative structure, Bhattacharjee chooses to tell the story through a young female protagonist, Eshei-part real and part fictional character. According to the author, she embodies the experiences of growing up, navigating through youth, love and loss amid conflict but is also faced with the universal trials of everyday reality.

Realising that conflicts make for interesting stories, Bhattacharjee weaves the story of Eshei growing up in an almost dysfunctional society and how she comes to terms with the baggage of violence and sessionism.

Employing the power of the interview to reveal, Bhattacharjee succeeds in tapping a cross-section of people and in each of them found “a courageous willingness to reopen wounds which they had hidden, sometimes even from themselves”. The book is full of these interactions.

As for the title, Che Guevara is the most popular face in Paona Bazaar, the author says. The market has almost everything in store for anyone – umbrellas for as low as Rs 50, Levi’s canvases for Rs 100, high-quality pirated Hollywood films and music videos for as cheap as Rs 35 and colourful blankets.“Ironically the red armies of Manipur haven’t quite adopted him, so thanks to a global fashion statement, Che became young Manipur’s icon years before his global demand.

“Chinese manufacturers have imprinted his face on virtually everything. I found a calendar with garam masala sachets hanging from the month of December in a rundown tea shop which had Che Guevara images. Badges with Che’s face are available in the most unlikely of places, such as an HIV drop-in centre,” Bhattacharjee writes.

“Even Fat James’ restaurant in Churachandpur has a Che face painted on the guitar standing in one corner for anyone to pick up and strum.”

Poana Bazaar in the title is traced to Poanam Nawal Singh, a  Major in the Manipur Army who refused surrender to the British forces.
Despite being an outsider, Bhattacharjee, a Bengali brought up in Shillong, is able to bring out the local cuisine, music, their history or even their biases in great detail. Also funny incidents involving bhoot jolokia also finds mention in the book.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
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Wednesday, March 27, 2013

Can He Read The Writing on The Wall?

While The US National debt Currently stands at a Staggering $14.235 trillion, The Federal budget deficit is Estimated at Over 10% of GDP for FY2011. B&E Catches up with The US Department of The Treasury, Moody’s Analytics and Others to find a way out of The Situation for The US Government.

Just as the US economy seemed ready to hit its stride, new threats have appeared to trip it up. Well, the writing on the wall this time is: Federal borrowing is likely to hit the statutory limit very soon. In fact, as of March 14, 2011, the total public US debt stood at a whopping $14.235 trillion (about 103% of US GDP, and more than $1,00,000 per US tax payer), or just $59 billion below its present statutory limit of $14.294 trillion. Confirms Mary Miller, Assistant Secretary for Financial Markets at the US Department of the Treasury through a communiqué to B&E, “The Treasury Department now estimates that the US will reach the debt limit between April 15, 2011 and May 31, 2011.”

Though one would argue that the situation is not new for the US policymakers who have increased the statutory limit 17 times since 1990 (the debt limit then was $3.195 trillion) to its current level, there lies a catch! Although Congress plans to increase the ceiling once again, several Republicans have vowed to oppose the increase this time unless the Obama administration commits to deeper spending cuts. And if the Republicans go by their word, the government would be in a position where it could no longer borrow to fund its day-to-day operations, which perhaps might result in a partial shutdown or a default on debt payments by the US. This could even force credit rating agencies to downgrade the country’s credit rating (US at present has AAA credit rating), which not only would affect the much-hyped American pride, but will also more importantly result in bond investors demanding higher interest rates, thereby adding to uncle Sam’s overall debt burden.

Moreover, the issue pops up at a time when large annual budget deficits (for FY2011 the federal budget deficit is estimated at $1.645 trillion, over 10% of GDP from just 1% in 2007) are projected to continue indefinitely under current laws. In fact, if current policies remain in place, the US Congressional Budget Office (CBO) projects that while the national debt, subject to the statutory limit, will exceed $25 trillion in 2021, deficits will total $7 trillion over the next 10 years.

Unfortunately, while the nation’s budget deficit and debt load are out of control (the highest since World War II), President Obama’s recently released 10-year budget plan doesn’t generate the much-needed confidence that the economy’s fiscal problems will be resolved anytime soon. Agrees Mark Zandi, the US based Chief Economist of Moody’s Analytics as he tells B&E, “Obama has put forth a budget that isn’t sustainable even on paper. Even with a freeze on discretionary government spending – the President’s principal response to the fiscal outlook – projected deficits are too large to stem an unmanageable rise in the nation’s debt.”


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles

Monday, February 4, 2013

Caught in the ‘lasso’, us too :-(

Fall in demand in the US is driving the Japanese economy to contract faster than the US economy itself

Neither do they have a housing bubble, nor is their banking system saddled with that garbage called sub-prime. Yet, they are feeling the heat more than anyone else in the world. The extravagant adventures of the western cowboys have managed to thwart the languid Sumo economy once again, resulting into its fastest contraction since World War II, when the US ‘Small Boy’ and ‘Fat Man’ brought Japan to its knees. The Japanese economy has shrunk for the fourth consecutive quarter. To crown it all, with every quarter, the curve is going deeper and deeper into an abyss. The latest figures suggest an increased contraction of a mind-boggling 4% (15.2% anualised) in the first quarter as compared to 3.8% fall in the last quarter of the previous year. And it has all happened due to the recession in the US. Definitely, this makes for a great case study for global financial copulation where the woes of West have touched the Far East.

The reason is quite obvious – fall in exports. Over the years, Japan has transformed itself into an export-dependent economy and in such a case when exports register a mammoth 26% fall, then definitely there is no way it can dodge an economic slump. And that’s what is happening. As global trade is inching towards its biggest drop of 9% (10% for developed countries – WTO figures) since World War II owing to lack of demand and supporting credit lines, Japanese companies are forced to cut their production rampantly. This clearly gets reflected in fresh data released by the Ministry of Economy, Trade and Industry, Japan (for March 2009), which indicates a 34.2% (year-on-year) fall in industrial production and 32.4% in shipments. So much so that Japanese trade balance has now receded into the negative. Not only that, it has also resulted in withdrawal of expansion plans (capital expenditure has fallen by 10.4%), increased lay-offs and 1.1% fall in the household spending, one of the key indicators of a healthy economy.


Source : IIPM Editorial, 2012.
An Initiative of IIPMMalay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.