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Alarm bells ringing, beware of China's debt trap

The signs are becoming more evident now. Here’s the reason why the world should be more concerned about China’s economic invasion

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Image: Pixabay

Djibouti has become a hot point of debate among foreign policy experts, for the very reason of their affinity towards China. It seems the East African country is the latest in the list to fall into the debt trap of Communist China.

Foreign Policy author Amy Cheng, in his latest piece, wrote Djibouti faces an unpleasant situation similar to that of Sri Lanka as the African nation borrowed more money from China than it can pay back.

“In both countries, the money went to infrastructure projects under the aegis of China’s Belt and Road Initiative,”Cheng reminded in his article.

He also pointed out that Sri Lanka was forced to hand over about 70 per cent stake of strategically important Hambantota port to China. So that’s the story. China is playing the same tactics in Djibouti. Giving billions of dollars than the developing nation can affort. The result would be disastrous, and grand enough for China to create their new generation colonies in future.

It is alarming that Djibouti is going to take huge debt, approximately 88 percent of their GDP. Djibouti has also developed an International Free Trade Zone of $3.5 billion with the help of China.

It needs to be noted that China has built its first overseas military base in Djibouti, a reason for the US to worry a lot.

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Headlines

Mukesh Ambani wants emerging tech to create more jobs

Top 5 headlines of the day. 

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Air pollution, the killer!

Over 1 lakh children died in India in 2016 because of air pollution, stated a study by World Health Organisation.

Mukesh Ambani wants emerging tech to create more jobs

India’s richest man Mukesh Ambani of Reliance Industries wants us to ensure that emerging technologies create more job opportunities compared to the number of job losses it cause.

Widening the tax base

Finance Minister Arun Jaitely expects India will double its tax base during the five years of Narendra Modi-rule. The minister is expecting the number of tax payers to reach 7.5 crore by the end of 2019 financial year.

India’s number one brand!

South Korean electronics giant Samsung Mobile is the most popular brand in India, the Brand Asia Survey 2018 survey said.

Saudi is responsible for it

Hatice Cengiz, the fiancee of late Saudi journalist Jamal Khashoggi, has blamed Saudi Arabia for his murder. She wants the US to help her in unravelling the cause behind the murder of Washington Post columnist.

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Economy

From Madras to the top of food & beverage giant PepsiCo

As Indra Nooyi is stepping down as CEO of PepsiCo, the corporate world is losing one of its few high-profile female chief executives

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Image: Pepsico.com. Illustration: The Indic Post

Indra Nooyi, one of the most high-profile female chief executives in the US, is stepping down from her role as the head of food-and-beverage company PepsiCo.

Nooyi was the first foreign-born as well as the first woman chief executive of PepsiCo.

Nooyi, 62, will step down from the company on October 3rd, and stay on as chairman until 2019. India-born Nooyi is leaving her job at a time when the drinks maker is struggling to explore new growth potential from the old business model. But leave that for a while. The story of Indra Nooyi is an exceptional one for aspiring women business professionals across the world.

Nooyi joined PepsiCo in 1994 and became the chief financial officer of the firm in 2001

“Today is a day of mixed emotions for me. @PepsiCo has been my life for 24 years & part of my heart will always remain here. I’m proud of what we’ve done & excited for the future. I believe PepsiCo’s best days are yet to come,” Nooyi tweeted.

Born to a Tamil family in Chennai of India’s southern state Tamil Nadu, Nooyi has achieved great heights with her strong willpower and sheer enthusiasm to move on irrespective of adversities.

She has a bachelor’s degree from Madras Christian College and got management education training from IIM Calcutta. Also a master’s degree holder from the Yale School of Management, Nooyi served some of the big corporations at the beginning of her career, including the Boston Consulting Group, Motorola, and Asea Brown Boveri.

Nooyi joined PepsiCo in 1994 and became the chief financial officer of the firm in 2001. Recognizing her sharp management skills, she was named the president and chief executive of PepsiCo in 2006.

The strategist

Nooyi has a phenomenal stint at PepsiCo as the top executive of the firm. She has shaped the global agenda of the drinks giant, spearheading the diversification plans which resulted in the shifting of product portfolio into healthier and more nutritious brands.

She also made the crucial decision of Pepsico’s Tropicana acquisition, and led the merger with Quaker Oats. Nooyi has been widely projected as an inspiring role model for women entrepreneurs and young female business professionals.

“Growing up in India, I never imagined I’d have the opportunity to lead an extraordinary company like PepsiCo,”Nooyi’s emotional tweet tells the crux of the story. If you have the will and determination, you can achieve.

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Politics

Trump lashes out at China, EU; says they're manipulating currencies

Has the currency war arrived?

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American president Donald Trump has lashed out at China and the European Union for currency manipulation, marking the beginning of a currency war.

The US President Donald Trump has intensified his words on China and the European Union, saying they are manipulating their currencies.

“China, the European Union and others have been manipulating their currencies and interest rates lower, while the US is raising rates while the dollars gets stronger and stronger with each passing day – taking away our big competitive edge. As usual, not a level playing field…,”Trump said on Twitter.

Trump also made it clear that the US should be allowed to recapture what was lost due to illegal currency manipulation and bad trade deals.

Trump reiterated his threat of imposing tariffs on all goods US imports from China, which is valued at $505 billion.

If a currency war erupts in full swing, it would put stock markets and oil at big risk, investors feel. Trump’s comments on currency manipulation made the dollar immediately fell against euro, yuan and yen.

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