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India gets stuck in anti-corruption crossfire

India is at risk of getting stuck in anti-corruption crossfire. After chasing down errant tycoons, authorities this week arrested opposition veteran and former finance minister, P. Chidambaram. The dramatic move, months after Prime Minister Narendra Modi’s landslide win, will fuel fears of factionalism. With the economy cooling and plenty of trouble spots to tackle, it also raises concerns over the unwanted consequences of an aggressive cleanup.

Breakingviews - Viewsroom: How to read the recession runes

A U.S. downturn is near, judging by past early warning signals from yield curves to bank valuations. But fallout from the 2008 crisis has sapped them of some predictive power. Plus: what the exit of Cathay Pacific’s CEO says about Beijing’s response to the Hong Kong protests.

Breakingviews - Breakdown: The global fight over Big Tech’s taxes

Who gets to tax Google and Facebook? That’s the kernel of a highly technical debate going on between 130 countries via the Paris-based Organisation for Economic Co-operation and Development. Major European governments want more cash from Big Tech groups, but the Americans are likely to resist. It makes a self-imposed 2020 deadline tricky - and raises the possibility of uncoordinated local levies followed by punitive U.S. countermeasures.

Breakingviews - Beijing’s Hong Kong hard line threatens everyone

Beijing's hard line in Hong Kong should worry everyone else. President Xi Jinping had peaceful options to calm protesters. Instead state media accused them of treason and separatism; the army is on standby. That China would even consider sacrificing its only offshore financial centre to pander to nationalists suggests the onset of tragic policy–blindness.

Breakingviews - Greenland is not for sale, but the UK might be

Denmark has refused to sate Donald Trump’s thirst for geo-M&A. The U.S. president on Tuesday called off a visit to the European state after its prime minister rebuffed his idea of buying Greenland, an autonomous dependent territory of the kingdom. If he’s looking around for an alternative target, he could do worse than a lob in a bid for the United Kingdom.

Breakingviews - India could use a good economic crisis

A crisis focuses the mind. India’s shoppers are cutting back on everything from biscuits to a new car. Businesses are reining in too: the value of proposed new projects is at its lowest since 2004. Unemployment, meanwhile, is rising. All of that suggests the nearly $3 trillion economy is heading for a prolonged, painful slowdown. Luckily, New Delhi has a record of embracing reform in times of stress. 

Breakingviews - India could use a good economic crisis

A crisis focuses the mind. India’s shoppers are cutting back on everything from biscuits to a new car. Businesses are reining in too: the value of proposed new projects is at its lowest since 2004. Unemployment, meanwhile, is rising. All of that suggests the nearly $3 trillion economy is heading for a prolonged, painful slowdown. Luckily, New Delhi has a record of embracing reform in times of stress. 

Breakingviews - India could use a good economic crisis

A crisis focuses the mind. India’s shoppers are cutting back on everything from biscuits to a new car. Businesses are reining in too: the value of proposed new projects is at its lowest since 2004. Unemployment, meanwhile, is rising. All of that suggests the nearly $3 trillion economy is heading for a prolonged, painful slowdown. Luckily, New Delhi has a record of embracing reform in times of stress. 

Breakingviews - Italian odd-couple trade is market’s better hope

RIP the odd couple of European politics. The year-old pairing of Italy’s right-wing League with the anti-establishment 5-Star Movement, which ended on Tuesday with the resignation of Prime Minister Giuseppe Conte, was always destined for trouble. Investors in Italian assets, though, will be hoping for a revival of the theme.

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