Showing posts with label BRIC. Show all posts
Showing posts with label BRIC. Show all posts

Thursday, 23 August 2012

Dwight Garner: The Pride of West Virginia

The Times' published a whimsical little essay by Dwight Garner this week, supposedly about his soul-searching trip to West-Virginia. Of course Mr. Garner couldn't have just hopped in his car for a good ol' fashioned doobie ride, he had to undergo a "cultural cleanse" on Interstate 79-- and then write about it.

Two things struck me about this essay:

1) The short film clips at the top of the essay -- I'm pretty sure these are just GIFs. I understand why the editors thought a constantly looping five-second shot of a nameless highway would be cool, but I personally think it looks pretty amateurish and a bit choppy. Shoulda gone with a full video, Timesmen.

2) Unless I missed an entire extra page to the essay, the only thing Garner talks about is how much he loves music when he travels. That's cool man, I guess only a lucky few can get paid to write about how "music is ridiculously important to me." You must feel very unique in that regard, Garner...I would've been interested to hear about what you actually "found" on your journey, since the title clearly stated you are "in search of" yourself, but I guess providing any sort of legitimate analysis or fact is anathema to you metaphysically mysterious essayists.

John Denver be not proud of you, Mr. Garner
First off, I acknowledge I'm the fool for clicking on the Times' "Arts" section and expecting to find hardcore analytical arguments. But before this blog turns into a twice-weekly hate letter to the NYTimes, I should explain what boils my bean about essays like Mr. Garner's. All too often, the writers churning out the most self-serious, self-pitying lifestyle essays are also penning mournful dirges about America's income inequality, corporate structure, lack of business ethics, etc. I agree Wall Street's contributions to the economy appear increasingly dubious. However, if you receive an upper-middle-class paycheck every month for doing no actual research or fact-digging, but for just relating anecdotes to your readers that you think prove why America sucks (a la Ta-Nehisi Coates) -- or maybe explaining why I should buy a totally sweet Paul Motian CD (natch Dwight Garner) -- please spare me your opinions on why the economy is no good. Think about how lucky you are that you get paid more then 90% of Americans for writing about whatever makes your heart bleed at the moment, and then reconsider whether you really have the knowledge to critique positions as complex and fact-based as economic policy.

Alright, I think I got all the Times-hate out of my system. My next post will be about how I gave an elephant money on its trunk the other day! Stay tuned.

Tuesday, 7 August 2012

Such a Beautiful Creature, the Feral Dog...

No matter how many times the travel nurses told me to "expect wild animals," I still wasn't fully prepared for the packs on packs on packs of stray dogs roaming the Mumbai streets. I have had a few dubious experiences with dogs, so I'm generally weary of any pup without a leash. However, my roommates were quick to dissuade my worries, noting "They never do anything. Just don't pet them..."

Indeed, the dozen or so doggies I pass on a given street block here all seem focused on finding the next heap of trash to procure their daily 'noms, and pay little attention to the general insanity of India day-to-day traffic and street life. I eventually grew accustomed to the constant canine presence -- until now.

The New York Times ran an article today on India's street dogs, and once again, I am given reason to never ever trust my roommate's advice on anything ever. According to The Times, 80,000 people were bitten in Mumbai alone last year...and 20,000 people die every year in India from rabies infections, the vast majority of which are dog-inflicted. 

I had thought rabies was a 28 Days Later sort of deal, where those bitten run around biting other people until you stick them with the antidote...a quick Google search proved me wrong, as well as leading me to more then a few grim lil' Web MDs who classify rabies as "inevitably fatal." Well then.

Oh yeah, and these ain't wild pugs roaming the streets...these are "Indian pariah dogs," which The Times describes as "similar in appearance to other prehistoric dogs like the Australian dingo." 

Now granted, 80,000 bites in one year means that about 0.6% of the Mumbai population gets bitten. And maybe the government's most recent plan to spray the dogs with ink to take poll of their ranks will help the situation...or it could just result in a bunch of ink-covered, pissed-off dogs. That Indian government is a wonder, isn't it?
If only this is what we were dealing with here...

Sunday, 5 August 2012

India to Jim O'Neill: "Shut up, you're not even my real Dad!"

Maybe it's just because I live with other five other post-college twenty-somethings, but at times this country seems like it's organized with all the care and common sense of a hormonally challenged, demotivated adolescent. So I guess I wasn't surprised that the hardass father of the BRICs, Jim O'Neill of Goldman Sachs, would speak to the country en masse as if he were talking to his loser teenage son.

"The country's huge power blackouts highlight once more the scale of their challenges, and at the same time, ongoing economic indicators lead more to scale back cyclical GDP forecasts. In addition, they are the one BRIC nation that doesn't appear to be here on mass in London. What is the matter with you guys?"

"Dammit, India!" O'Neill went on to say. "You forgot to take out the trash...again...and hell if your gonna sit on your ass all summer while your friends are out playin' sports. Get your shit together, son!"

"Clone High" had Gandhi right all along...
I was also discouraged to see that O'Neill specified India as the BRIC that has disappointed him the most at a recent investor conference. Well, O'Neill, you may not be proud of your son's report card, so to speak, but that poke at the lack of athletic prowess is just a low blow -- just wait till they put cricket in the Olympics! India is still too big and fast-growing to count out...O'Neill knows this...and the computer nerds always get the last laugh anyway. As a proud hanger-on of computer nerds, I hope to be laughing right there with 'em. Either that or getting back to Virginia and kissing that sweet, stable American soil, I haven't really decided yet.

Saturday, 21 July 2012

"The Dark Knight Rises" is Visual Dank Chronic

Some friends and I saw "The Dark Knight Rises" last night. That sh** is tightttttttttttt. Even with its grim, post-9/11 vision of NYC/Gotham, the movie still made me miss the good ol' US of A.

All we have over here is "Punjabi Batman"
After the negative experience at "The Amazing Spiderman," we opted for the regular screen over iMax -- even though Manohla Dargis' New York Times review insisted that iMax is "the way to see the film." Well, an Indian "regular" screen is pretty darn big as it turns out, so sucks to your suggestion, Ms. Dargis.

The movie also gave me my own visions of big screen glory -- a dream that is conveniently easy to manifest here in Mumbai, where a number of my associates and roommates are already "acting" (re: appearing in the background) of major Bollywood films and commercials. The pay is also not too shabby, considering your usually just asked to dance around or stare at the protagonist in awe...half-a-days work can net you a few thousand dollars rupees.

Now that's some free enterprise that even Bane could support!

Wednesday, 18 July 2012

Indian 1% Put the American 1% to Shame

Last weekend, driving through South Bombay after dinner, one of my friends pointed out the 27-story personal tower of Mukesh Ambani. He noted that the tower's amenities included several floors serving as car showrooms, and a massive ice skating rink serving as another floor. I think I may have muttered something then about "wasteful" or "insensitive," but what I meant to say was "Boss-status!" and then pretend I'm shooting a basketball, the international sign for "ballin'."

Because if there's one thing this country appreciates, it's tasteful moderation.
Of course, this is Mumbai, so right outside the tower there were decaying storefronts and a few beggars wandering around. Even in the relatively posh South Bombay, I took the little trappings of destitution to be par for the course. 

I was thus happy to see a fairly thoughtful breakdown of why India's nicest neighborhoods are, like, not really that nice in the Wall Street Journal today. Hint: It's not because the rich aren't rich enough. 

"The contrast between the popping champagne corks inside and the filth outside is striking. Again, the simple economics of incentives explains why. Many of the wealthy diners who frequent these establishments pull right up to the entrance, and so don't need to worry about the filth outside," writes Rupa Subramanya, referring to upscale restaurants in midtown Mumbai located in shoddy neighborhoods.

Basically, Subramanya contends that Mumbai's rich have no emotional stake in their neighborhoods, since it doesn't cost much to hire a 24/7 driver and roll through the fecal-filled streets in a tinted-window Escalade, sipping mineral water and breathing circulated air imported from the Himalayas. She argues that the Indian aristocrats take care of the public services that matter to them -- electricity, for instance -- and as long as the infrastructural absurdities of the outside world don't impede on their personal space, they feel no civic duty to demand improvements. Even if their "personal space" happens to be a 27-story mega-apartment.

Fair enough -- but I still don't think the article gets to the core of why Mumbai's wealthy don't demand infrastructural and design improvements to their neighborhoods at large. As Subramanya herself points out, in places like the U.S., there is a clear relationship between real estate quality and the quality of the surrounding sidewalks, parks, public schools, etc. If you were to build a mansion in the middle of the Bronx, for instance, you'd of course be hard-pressed to make a profit, because the poor quality of the surrounding houses and public services directly affects the value of the house. Expensive houses are in expensive neighborhoods, ipso facto.

In India, I would be very curious to see how "neighborhood quality" affects house valuation. The wealthy are of course "clustered" here as in other places -- it's not like you'll find a personal showroom in the middle of Dharavi. But still, if I built a 27-story tower for myself, I'd want to make damn sure my neighborhood is pristine, classy and ideally not near any shanty-towns. I don't know if it's a lack of civic duty, or if its just impossible to distance yourself from the poverty here, but I'd certainly like to find out.

On that note, any Indian billionaires want to hang out this weekend?


Tuesday, 17 July 2012

Guar: The Little Bean That Could

Of all the national policy issues that campus activists continually rallied around during my four years of college, hydrofracking was probably the most incendiary. Perhaps it was because I went to school in central New York...home to layers upon layers of precious, precious shale oil. Oil best obtained by hydrofracking, of course, although there's a slew of water pollution and environmental degradation issues that come with the territory. You can see some of the strong reactions against fracking in the video below, which I helped produce:


I really liked the activists in the videos above. They were chill. But that doesn't mean I'm about to leap behind every "bleeding-heart smellfare" program -- or "save the environment" mumbo jumbo -- they support.

Thus, I'd be interested to see how some Wavy Gravy's react to this recent New York Times' article, which extols the financial benefits of guar bean production for poor northwest Indian farmers. Yeah, guar beans...which are a crucial ingredient in HYDROFRACKING!

Indeed, this lil' guy's price has skyrocketed in the past few months because of energy companies' increasing demand -- and the fact that the bean is in limited supply and only grows in particularly arid, desert-like climates.

And these farmers are making a killing on guar. Says one Sohan Singh, "Now...we have a house made of stone."

iT'S your choice, activists! Save the Indian farmers or save the environment! You can't have both!

But on the real....this is a tricky economic policy issue (not to mention environmental...and social...), and showcases how important it is to have export diversity in an economy. In the guar-producing parts of Rajasthan, the economy depends primarily on agriculture -- a relatively fickle business, especially when the farmers there are not exactly using high-technology, high-yield techniques. It's like relying on the Rain Gods to supply your salary every year.

That doesn't mean I'm not rooting for them; go 'head, Mr. Singh! Milk them energy companies for all their worth!

Sunday, 15 July 2012

Drug Makers: "Fuck this, we're going to India."

At my job recently, I've been researching certain pharmaceutical and biotechnology companies investments in emerging markets -- particularly Brazil, India and China -- and hot dog if these companies aren't licking their chops at the opportunities. Pricing pressures in the U.S. and Europe means that drug companies are going to increasingly rely on the exploding middle classes of BRIC countries to drive sales. Spending on drugs are going to double in emerging markets in the next five years, according to the New York Times - now that's a win/win for drug companies and B.Doyle. Oh yea, and for India.

Above: India and pharmaceutical companies, meeting for the first time. 
Needless, I'm going to walk to work with a little extra pep in my step tomorrow. Unless it's monsooning again...in that case I'll tell the rickshaw driver to sing that lil' Hindi diddy extra loud, for ol' B.Doyle. Fuck ya.

Coca-Cola: Fighting the Good Fight


As a follower of business, I'm a fan of Coca-Cola. Have been ever since freshman year of high school, when I wrote my World History final paper on why the invention of Coca-Cola was the most important development in human history.

So of course, I'm happy to hear that Coca-Cola is planning a fairly aggressive expansion of operations in my current homeland, according to the Wall Street Journal.

According to the article, Coca-Cola accounts for 60% of soft drink revenues in India, compared to PepsiCo's 37%. However, in my little slice of Mumbai, I've noticed it is much easier to find Pepsi products -- in particular "Mirinda," a tart little orange soda, and Pepsi itself -- then Coke. I've almost started to miss that classic red logo. And the actual drink. 'Cuz Pepsi blows.


Here's to you, Coca-Cola! Ignore Mayor Bloomberg and his Big Brother-esque soda policies...it's just you and me.

Tuesday, 10 July 2012

India in the News...That's a First...

The New York Times ran an interesting -- if incomplete -- timeline of India's modern economic history as told through magazine covers from the past 10 years. More accurately framed, this is a history of the mainstream media's coverage of India's booming decade.

Basically, according to this timeline, BusinessWeek first beguiled the general public with tales of a sexy, brown-skinned "vanguard of one of the biggest mind meld's in history," right before Wired warned everyone that these brilliant young computer whizzes were going to take our jobs...then a few more random stories about how great and liberal India was becoming...then a 2007 BusinessWeek piece about how India's horrible infrastructure and overpopulation may stunt growth...and going right up to The Economist's 2010 cover of a swiftly running tiger, representing India's potential outpacing of Chinese economic growth. Mee-yow, Economist!

The piece came on the heels of the Time cover labeling Indian Prime Minister Monmohan Singh "The Underachiever." A far cry from the October 27, 1947 cover of Time where Vishnu made her U.S. debut...or something....


Of all the publications, I have to say that the 2007 BusinessWeek article tells the story the best. That elephant on the cover is a pretty apt metaphor for India's growing pains...that poor, poor elephant. Yes, there is an awesome amount of entrepreneurship, rising education and general brilliance in India, but before they eclipse Silicon Valley they're going to need to fix some potholes. Literally. I can't count how many times I bump my head in the autorickshaw on the way to work.

Monday, 9 July 2012

Peering Over Poverty

Before I came to Mumbai, I knew I would see poverty. I just didn't know it would be shoved in my face so brazenly.


That's a photo my friend took of an impoverished lil' Mumbaikar peeking in our taxi window, begging for a spare rupee. Fortunately, I was warned multiple times as soon as I arrived: don't give money to beggars. The effect is apparently like that South Park episode where Stan Marsh is mobbed by homeless people after he gives a nickel to one vagabond.

The poverty I've seen here mainly manifests itself in the pollution and general lack of hygiene in certain neighborhoods -- adults relieving themselves in the streets, children walking around naked, cardboard shanty towns, etc. And I haven't even visited Dharavi, in northern Mumbai, where leopards from the nearby Sanjay Ghandi National Park apparently 'nom on village children regularly.

Mumbai also has a ton of opulence and "new money" as well, and I still haven't come to terms with my proximity to some truly horrible human living conditions. Will of course keep you all updated on this new-found humanitarianism as it develops. This whole "sympathy" thing is all new to me...

Sunday, 8 July 2012

Tha Swiss Connection

On my flight to Mumbai, I had a two hour layover in Switzerland. They were two of the cleanest, most pleasant hours of my life. I indulged in some deliciously nutty authentic Swiss chocolate from an airport vendor, explored the sleek, somewhat Euro-hipster designed airport -- bathroom doors were constructed of polished metal -- and admired the view of the mountains from the airport bay windows. 

The flight over to Mumbai on Swiss Air was equally delightful -- the vegetarian pizza they served was top-notch, and even the seats in the economy-section were roomy and comfortable. 

So landing in Mumbai and stepping off the squeaky-clean Swiss Air jet into a wave of heat and curry smell was not the most desirable contrast.

Above: If I could live on that jet, I would.

Since my all-too-short time in Europe, I have vowed to go back there as soon as feasibly possible and plan a good ol' fashioned EuroTrip. For me, this is actually a fairly big step forward: before this year, I was truthfully baffled whenever someone listed "traveling" as one of their favorite hobbies. But it's amazing what two hours near the Swiss Alps can do to a person's psyche. 

However, before I experience Europe I still have pretty much every landmark in Mumbai alone to visit. Yeah, this past month hasn't quite brought me outside of a ten-mile radius. 

In the meantime, I've been watching this video to get me pumped up about traveling in general. WE NO SPEAK HINDI!


Saturday, 7 July 2012

Monsoon Season!

The first time I heard the term "monsoon" was in the 1996 movie "Jumanji." Since then, I have associated monsoons with Robin Williams fighting crocodiles.

So when I learned that Mumbai was host to a four-month long monsoon season every year, I wasn't quite sure what to expect. Would my flat be flooded frequently? Would I have to swim to work? Should I pack my heavy-duty crocodile-killin' machete just in case?

As it turns out, flats do get flooded frequently, and yes, getting to work may be impossible once in a while unless I have a canoe. So far the crocodiles don't seem likely, although giant rats are a common sight. Incidentally, however, Mumbai is experiencing a relatively dry monsoon season so far. I couldn't be happier to only have to face two or three short bursts of rain a day, but according to the Wall Street Journal, this is a problem for North Indian farmers who rely on the monsoon rains to help produce crop yields.

If I travel to North India (hopefully soon) then I may be able to get a better appreciation of the largely agricultural-dependent economies of that region. However, right now, it's hard not to be happy that I arrived here conveniently in one of the driest monsoon seasons in years.

Here's to dry monsoon seasons and no crocodiles!


Above: Me, in my living room last week. #mylifeisJumanji

Monday, 25 June 2012

Moody's: India "Stable"

How you like them apples, Standard and Poor? Moody's noted today that the lower growth trends as of late are "unlikely to become permanent or even mid-term features of the Indian economy."

This is of importance to B.Doyle for two reasons:
1) The rupee (and thus, my paycheck) may not be doomed after all, and...
2) These next 11 months in Mumbai may have some economic growth meaning for the ol' career, aside from that intangible "experience" factor.

Of course, I'm not letting my hopes and dreams simply ride on the verdicts of finicky ratings agencies. No, I'm  much more comforted by this Business Insider slideshow explaining "Why Everyone is Freaking Out About India." Madness, illuminated.




Grow, damn you, grow!

Saturday, 16 June 2012

"Fuck this, I'm going to India"

When I began applying for jobs in September, just about every day the New York Times was running a bleeding-heart op-ed or sanctimonious report on the general malaise in the job market. That didn't seem to stop the vast majority of my friends from landing cushy jobs in the financial services/engineering/general numbers sectors (go Big Data). As for me...I applied for a Business Analyst position in a very large, very well-regarded conglomerate that would place me in India, and spent the next six months in HR limbo. I finally landed the position in April, right as I was REALLY starting to get anxious.

Below: Me, circa April 3 2012, in between applying for more jobs, studying, and right before I received the coveted "Offer."


The chance to work in Mumbai -- which I only recently discovered was synonymous with Bombay -- sounded pretty damn sexy. Palm trees...Indian women...the excitement and growth of a BRIC economy. I would be an international businessman. Nevermind that I would be working on a salary that would just allow me to scoot by, or that I would technically be an "intern." Or that my assigned department -- Life Sciences -- had very little to do with my background, expertise or even interests. After some deliberation and guidance from older, wiser career men and women, I seized the opportunity and didn't think twice.

From a pragmatic perspective, there were two clear advantages I saw to leaving the country for my first job:

1) International experience is crucial in all areas of business, and will only become more so in coming decades.

2) India -- despite what haters in the S&P say -- is an economic bottle rocket, and the opportunities for growth and entrepreneurship here are unparalleled.

Plus, I figured it'd be a good idea to give the American business waters a bit of time to cool off before dipping my toe in. We'll see if my decision pays off -- personally or professionally. But until then, I'll be sitting in my Mumbai flat with this look on my face: