Monday, 21 March 2022
NAIKI DEVI DEFEATED MUHAMMAD GHORI
Monday, 7 February 2022
A DICKENS CODE IS FINALLY SOLVED
It was a letter to the Editor of the Times
Despite the intricate plots, Charles Dickens was a messy writer. His manuscripts are full of inky splodges, with barely legible alterations crammed in between scrawled, sloping lines. Worse still was his love of a type of shorthand dating from the 1700s. To this, he added his chaotic modifications to create what he called “the devil’s handwriting”.
The great Victorian writer used these time-saving hieroglyphics to make notes and copies of his letters and documents, reams of which he burned. Academics are still toiling to decipher 10 shorthand manuscripts that survived. And for a long time, this Dickens Code had seemed uncrackable.
Last year, the experts behind what is known as the Dickens Code project put out a call for amateur sleuths to enter a competition, the task being to transcribe one of these baffling documents: a mystery letter that has been kept for more than a century in a New York library. It is scrawled in blue ink on paper bearing the letterhead of Tavistock House, the London home where Dickens wrote Bleak House.
When the competition opened last October with a £300 prize, the note was downloaded 1,000 times in three days. Participants were invited to use guides to brachygraphy, the now obsolete shorthand system that Dickens had adapted. In the semi-autobiographical David Copperfield, brachygraphy is described as a “savage stenographic mystery”.
Competitors also had access to a notebook in which Dickens explained, with characteristic ambiguity, some of his symbols. He used “@” for “about” and an angular kind of “t” to mean “extraordinary”. In the end, only 16 people, from all over the world, were able to submit solutions. None managed the entire thing.
So what does the Tavistock letter say? Sadly, what it does reveal is a suitably convoluted tale of a canny businessman who has reached a fraught juncture in his love life and literary career, and is now leaning on his connections and the courts for help.
“The decoders have helped to cast light on this troubled period in Dickens’s life,” says Dr Claire Wood, lecturer in Victorian literature at the University of Leicester. Wood leads the decoding project with Hugo Bowles, professor of English at the University of Foggia in Italy. After a lengthy process of piecing the entries together and cross-checking with other sources, the pair have a transcript that is 70% complete.
In another breakthrough, one solver translated two scribbles as “Ascension Day”, a Christian feast that falls 40 days after Easter. This fascinated Wood and Bowles because Ascension Day in 1859 coincided with a period in which we know Dickens was attempting to incorporate Household Words into All the Year Round.
These clues shed light on another letter, written in longhand, fortunately, that is kept at the same New York library. It’s an apology to Dickens from the manager of the Times about a row that had erupted when Dickens asked the newspaper to print an advert alerting his readers to All the Year Round. It mentions another letter, one Dickens had written to John Thadeus Delane, editor of the Times. Until now, this letter was assumed lost.
1859 was a tricky year for Dickens, then 47. Despite the fame, he had earned with Bleak House and David Copperfield. A year earlier, his marriage had fallen apart amid rumours of an affair with an actress. Dickens published a furious statement in Household Words, describing the rumours as “most grossly false, most monstrous, and most cruel-involving”. When he asked Bradbury and Evans to print the statement in Punch, which is also published, the company refused. Their relationship fell apart and the publisher declined an offer from Dickens to buy its share of Household Words.
He had a divorce, a rumoured mistress, and 10 children to look after. Household Words, which Dickens launched in 1850, was a vital source of income. It had taken off in 1854 with the serialisation of his novel Hard Times.
Bradbury and Evans wanted to keep Household Words alive without him – and sued to prevent him from giving the impression the magazine was closing. However, a judge ruled in Dickens’s favour. yes, he could announce the switch, as long as he said Household Words was being “discontinued by him” and not the publisher. A triumphant Dickens used this phrase in the advert intended for the Times, but a clerk rejected it. The Tavistock letter is, we now know, the writer’s desperate bid to rescue the situation by appealing to the editor, an acquaintance. The Times apologised and reinstated the advert.
All the Year Round, which he launched with the first instalment of A Tale of Two Cities, was a sensation. A year later, it serialised Great Expectations.
The £300 prize was won by Shane Baggs, a Californian IT worker and code enthusiast, who solved the most symbols.
Friday, 28 January 2022
THE LONE INDIAN WARRIOR IN BEIJING
India has only one man in Winter Olympics
Arif Khan |
Arif Khan |
Tuesday, 25 January 2022
പണിക്കർക്ക് സോമനാഥ ക്ഷേത്രം വേണ്ട
മാവോയും പണിക്കരും |
രാജേന്ദ്ര പ്രസാദ് സോമനാഥിൽ |
Saturday, 22 January 2022
THE FUTURE OF CHINESE INVESTMENT IN INDIA
The Fall of Chinese Investments in Indian Startups
Li Jian, a power broker in the Indo-Chinese tech relationship, moved to India in 2007, after graduating from Peking University, majoring in Indian Languages and Culture. He spent five years as head of public affairs at Huawei in Delhi and then founded an investment consulting service called Draphant. He became a major investor in Entrackr, an Indian media startup, in 2017.
Following Chinese giant Alibaba's investments in Indian startups, Entrackr began organizing “guided knowledge exchange” tours to China. Between 2017 and 2019, it took over 200 people from India to China. Li adopted an Indian name Amit, after the Bollywood superstar Amitabh Bachchan, and acted as liaison partner for Chinese delegations visiting India. Gurugram, where Li's company is based, began developing a Chinese startup subculture.
When Li returned in January 2020 to celebrate Chinese New Year with his family
in Guli, China, he was sure that his startup Draphant was poised to capitalize
on Chinese investments in India. What happened next came as a shock. In
January, the COVID hit India, and in June, a border clash worsened the bilateral
relationship between China and India. The Indian government declared that all Chinese
investments in Indian companies would have to be reviewed by the state before
they could proceed. It was followed by a three-phase ban of over 250 Chinese-owned
apps,
wiping out most of the Chinese internet market that had blossomed. Entrackr was compelled to turn to
external funding sources, including Paytm, raising USD 500,000 in February 2021, to
keep it afloat.
Chinese dawn in Indian startups
Tencent joined in 2016, leading a USD 175 million round in Hike Messenger, India's answer to Whatsapp. Hike gave up on messaging in January 2021. In 2019, Tencent invested USD 100 million in India’s first gaming app to enter the unicorn club, Dream11.
Xiaomi made its first investment in an Indian company by pouring USD 25-million in Hungama Digital Media Entertainment. It also invested in Marsplay, Oye Rickshaw and ZestMoney.
Paytm’s valuation
almost tripled to USD 8.3 billion in two years and its success attracted
smaller players and venture capitalists, like Morningside and Shunwei
Capital, a sister concern of Xiaomi. In
2017, Shunwei Capital invested in ShareChat and the next year, it led to a USD 50
million investment in Meesho. It has since invested over USD 100 million in Indian
startups, including in podcasting company KuKu FM and Indian alternative to Whatsapp, Koo.
The last Chinese investment in an Indian startup was in April 2020, by Legend Capital in the interactive online tutoring unicorn Vedantu, with a contribution of USD 10 million.
There has been a 12x growth of
Chinese investments in Indian startups from 2016 to 2019. A report titled “Chinese Investments in India” by Gateway House estimates that the total value of Chinese investments
in Indian startups during 2015 - 2020 is approximately USD 4 billion. 18 Indian
unicorns including Flipkart, Dream11, Delhivery and Rivigo are backed by
Chinese investments.
The economic rationale behind these investments is many. First, with the saturation in the Chinese domestic market, India is viewed as one of the last emerging markets with untapped potential. Moreover, Indian markets suffer from a lack of capital due to which investments are welcome in the system. Third, there is immense creativity and ideas that are offered by the Indian engineering institutes and the skills of young techies. And finally, these investments in India give China a competitive edge against the U.S.
China takes a back seat
Over the last two decades, India has received a cumulative USD 456.91 billion in FDI, with over 72% of it coming from five countries: the US, Singapore, Japan, Netherlands and Mauritius— China is not one.
The proportion of China’s FDI in India during the same period constituted a mere USD 2.34 billion or 0.51% of the total inflows. However, post-2014, Chinese investments shot up considerably across startups. But the preference for Chinese investors has gone down significantly from 29% in 2020 to 3% in 2021. The change in FDI regulations since 2020, resulted in funding from Chinese investors in India falling from USD 3.5 billion in 2019 to USD 1.05 billion in 2020.
After almost a nine-month freeze, the Indian government
started clearing the Chinese FDI proposals in early 2021, for the ‘smaller cases’, while the larger proposals
are to be dealt with later after a careful analysis. The Chinese gap may be filled by investments from other markets such
as the US, UK, and Japan.
Thus, India startup funds topped China in July 2021, the first time since 2013, after China stepped up a regulatory clampdown on its tech companies. Indian startups raised nearly USD 8 billion in July, while funding to Chinese firms dropped to about USD 5 billion, according to a Bloomberg report. Indian startups have raised a record USD 17 billion during January-June 2021, a surge from about USD 12 billion raised in full-year 2020 and USD 14 billion in 2013.
Though Chinese startups raised about USD 49 billion in the first six months of 2021, funding has slowed since the December quarter of 2020. From a peak of USD 27.7 billion raised in Q4 2020, Chinese startup funding dropped by 18% t0 USD 22.8 billion in Q2 of 2021, while India funding rose by 62% t0 USD 6.3 billion from USD 3.9 billion in the same period. India has seen 36 new unicorns in 2021, while China has added about 15. India raised nearly USD 20.76 billion across 583 deals as of August 20.
© Ramachandran
Thursday, 20 January 2022
CHINA AND A LESSON FROM GANDHI
A Lesson From the Trusteeship Theory
In his paper, Harijan, Gandhi enumerated his Doctrine of Trusteeship on February 23, 1947, when Mao fought for his people in neighbouring China.
Gandhi was an economist of the
masses. The fluid international conditions fraught with ideological tensions in
the economic domain demanded a fresh approach to economic philosophy. The core
of Gandhian economic thought is the protection of the dignity of the human
person and not mere material prosperity. He aimed to develop, uplift, and
enrich human life rather than a higher standard of living with scant respect
for human and social values. Gandhi's idea of trusteeship arose from his faith
in the law of non-possession. The world's bounties are for the whole, not for
any individual. When an individual has more than his respective portion, he
becomes a trustee for the people.
The trusteeship formula of Gandhi reads as follows:
1. Trusteeship provides a means of
transforming the present capitalist order of society into an egalitarian one.
It gives no quarter to capitalism but gives the current owning class a chance
to reform itself. He felt that human nature is never beyond redemption.
2. It does not recognize any right
of private ownership of property except that society may permit it for its
welfare.
3. It does not exclude legislation
of the ownership and use of wealth.
4. Thus, under state-regulated
trusteeship, an individual will not be free to hold or use his wealth for
selfish satisfaction in disregard to the interests of society.
5. It proposed a decent minimum
living wage and a limit on the maximum income allowed to any person in society.
The difference between such minimum and top incomes should be reasonable and
equitable and variable from time to time, so much so that the tenancy would be
towards obliterating the difference.
6. Social necessity determines the
character of production and not by personal greed.
Gandhi wanted Zamindars/ Kulaks/
landlords to act as trustees of their lands and use them by tenants. This idea
was based mainly on India being an agricultural country where more than 80 per cent of the population lives in villages.
Gandhi's doctrine of trusteeship is
a social and economic philosophy aiming to bring justice to society. It
provides a means by which the wealthy people would be the trustees of the trust
that looked after the welfare of the people in general. Gandhi believed that
the rich people could be persuaded to part with their wealth to help the poor,
and he held that labour is superior to capital.
He formulated the trusteeship theory after the Ahmedabad textile mill workers dilemma. He became more aware of the prevailing gap of interest between the owners and workers of the industries. Gandhi introduced the concept of trusteeship based on class cooperation in society. He believed that even the rich people are, after all, human beings, and as such, they also have an element of essential goodness that everyman necessarily possesses. The capitalist should be aroused by that element and won over by love. And persuade them to believe that they should utilize the wealth in their possession \for the good of the poor. The rich should realize that the capital in their hands is the fruit of the labour of poor men. This realization would make them perceive that the welfare of society lies in using money and resources for the good of others and not for one's comforts. It is a doctrine of moral responsibility and a practice of Non- possession.
Half of the world owned by 62
An Oxfam report reveals that one per cent of
people in the world possess 50 per cent of the world's total wealth, and just
62 people own the same as half of the world. The wealth of the poorest half has
fallen by a trillion dollars since 2010, a drop of 38 per cent. Despite the
global population increasing by around 400 million people during that period,
it has occurred. Meanwhile, the richest 62 has increased by more than half a
trillion dollars to $1.76 trillion. The report also shows how inequality
disproportionately affects women – of the current '62' richest, 53 are men, and
just nine are women.
A total of $7.6 trillion of
individual wealth sits offshore. If the rich paid tax on this income, an extra
$190 billion would be available to governments every year. As much as 30 per cent of all African financial wealth is estimated to be offshore, costing an
estimated $14 billion in lost tax revenues every year. It is enough money to
pay for healthcare for mothers and children in Africa to save 4 million
children's lives a year and employ enough teachers to get every African child
into school. The number of people living in extreme poverty halved between 1990
and 2010. The annual income of the poorest rose only less than $3 in the past
quarter of a century. Had inequality within countries not grown between 1990
and 2010, an extra 200 million people would have escaped poverty.
In India, one per cent of people own
58 per cent of total wealth.
The Gandhian principle of
trusteeship is closely related to the social responsibility of business.
According to Gandhi, all business firms must work as a trust. Business people
should change their attitude. They have no moral right to accumulate unlimited
wealth while most fellow citizens live in poverty and misery.
Few richest men in the world, like
Bill Gates, Warren Buffet, and Jeff Bezos, have rarely shown the principle of
trusteeship. Even during COVID, the corporates were trying to make money by
developing vaccines and reducing overheads by implementing the system of working
from home.
The crackdown in China
Several leading Chinese internet
companies, including Tencent, Alibaba, Didi Chuxing, and eSuning, were fined
500,000 yuan ($77,345) for breaching the anti-monopoly laws in July 2021, as
China stepped up its crackdown campaign against monopolistic behaviours that
threaten to stifle market vitality. Alibaba paid a record $2.8 billion fine in
April. Market regulators determined these companies to have breached the
"concentrations of undertakings" provision under the anti-monopoly
law in a total of 22 equity investment and joint venture deals, the State
Administration for Market Regulation (SAMR) had said in a statement.
Multiple subsidiaries of Didi -
Xiaoju Kuaizhi Inc - were among the penalized parties, days after Didi was
removed from Chinese app stores by order of China's cyberspace regulator over
cybersecurity issues. The probes of the 22 cases, which involved fields such as
new retail, e-commerce, logistics, fintech, ride-hailing, and charging piles in
the new-energy vehicle industry, started in March and April 2021. Xiaoju
Kuaizhi Inc and BAIC Mobility Co, a subsidiary of Beijing Automotive Industry
Holding Co (BAIC Group), failed to report to the SAMR about their joint venture
before obtaining a business license. It violated Article 21 of the
Anti-Monopoly Law and constituted an illegal concentration of business
operators. E-commerce company Suning and a subsidiary controlled by China's
largest online food delivery platform Meituan were also on the receiving end of
fines. Many of the fined companies are there on overseas stock markets.
China has been ramping up crackdowns
on its digital platform companies, as the digital economy accounts for a
growing percentage of the world's second-largest economy and poses some serious
risks. The government is seeking to regulate the market, curb the disorderly
expansion of capital and inject vitality into the vital sector, which already
accounted for 36.2 per cent of the nation's GDP as of 2019. The closure of 109
monopoly cases by SAMR marked the country's antitrust push was marked by 2020,
with penalties totalling 450 million yuan and intensified anti-monopoly
crackdowns on internet platform companies. Last year, the SAMR told 34
platforms - including Tencent, Alibaba, Baidu, and Meituan - to thoroughly
rectify their monopolistic behaviour, and tax-related irregularities or
violations, within one month.
The crackdown was waiting to happen
because the corporates were pretending to be bigger than the state and the
people, shirking off their social responsibility. They could have taken a leaf
out of Gandhi or Marx.
© Ramachandran
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