Indian Prime Minister Narendra Modi meets US President Joe Biden in the Oval Office at the White House in Washington on September 24, 2021. Photo: Reuters
Opinion | How India can square the circle of Russia with its Quad partners

For India, the affordability of Russian military equipment comes with lower quality and coercive leverage, and that price is too high. The solution is to diversify towards suppliers such as the US. Signalling this intention at the coming Quad meeting would make clear to the world India’s implicit criticism of Russia.

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A man carrying a bag of groceries walks past a mural depicting an iconic financial market bull statue, near the central business district in Beijing, on April 18. Photo: AP
Macroscope | Can renminbi bulls expect a reprieve any time soon?

Tighter US monetary policy is in the offing and should continue to provide general support for the US dollar on the foreign exchanges. China’s coronavirus-related lockdowns are a big headwind for the economy, justifying a weaker yuan from a currency market perspective.

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