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China's trade data posted overnight showed scant evidence of the Sino-US trade war with exports steady and imports on the rise. It is likely too early for the US tariffs to skew the data much yet, however, and another drop in Chinese equities shows that the situation is far from resolved.
Editor’s Picks 10 January 2016 at 21:27 GMT

Modi makes gains in taming India's entrenched elites

Nikkei Asian Review
India's Narendra Modi came to power on a promise to build a new India. There is one area where his government is making progress: taming India's entrenched elite. India has long been dominated by a tiny elite: a couple of hundred extended families. In India, dynastic elites control the top echelons in every sphere of public life. Many have roots that stretch back to the colonial era. Ties of patronage and marriage have fused them into a discernable class with a strong sense of entitlement, who react to even minor challenges by closing ranks. The elite can be remarkably resilient. History – from post-revolutionary France to modern Thailand – has shown that it is a mistake to write off the old establishment.
Read full article at Nikkei Asian Review

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