Like every year, there were several contenders.
New Delhi, January 10, 2020: The planet recorded its highest ever temperature and the highest decibels on climate change. Greta Thunberg, the young Rebellion against mankind’s Extinction was a strong candidate. How Dare We let the Amazon burn, Venetian alleys flood, Australian bushfires rage and Delhi choke? Odds of a catastrophe may not be Evened by retiring cars, moving the COP 25 from Chile to Madrid or by changing capitals (Jakarta toKalimantan).
There are a few good signs – EU’s push for a circular economy, democratic candidates’ green new deal, the rise of green parties and innovations funded by the likes of Bill Gates. Christine Lagarde gets full marks for joining Mark Carney in making green finance a central agenda for central banks. For lasting change, we must stop flying private jets to inconclusive Climate conferences. As Yodasays,DoorDonot,thereisnotry.‘Chernobyl’wasthehighestratedTVshow,hopetheclimatestorydoesn’tendlikethat.
Carrie Lam must be lamenting the cost of extradition bill. Hong Kongers are honking loudly, tear gas can’t tear apart their Victorian determination. Dealing with these bulls in China shop may put Jinping in a soup. Events in Hongkong will have repercussion on Taiwan, Tibet and the mainland. China is dealing with a slowing economy, ageing population, leveraged system, tariff troubles and deteriorating international relations. But, make no mistake, China is an 800-pound gritty Gorilla as nimble as a Gazelle with ambitions taller than its Great wall.
Ukraine chose a young comedian as President. Nancy Pelosi pelted Trump for biding with him to stall Joe Biden’s bid. President got a Hunter of impeachment. Trump’s tweets kept markets on tenterhooks. Mocking the Canadian president or UK Ambassador, leaving Syrian Kurds or the Paris agreement, picking a fight with Jerome Powell or Jeff Bezos, dealing with Government shutdown or China, he may look like playing Birdbox challenge, but Don has his dongles dialed to the 2020 elections. Democratic Avengers are searching for their Captain America.
Tiger Woods’ resurrection was as ‘breathtaking’ as Keanu Reeve’s Renaissance. Rafael and Djokovic aced the court. Messi dribbled with Balls of fame. I loved Megan Rapinoe’s roaring calls for equality and Ashleigh Barty’s play on Parisian clay.
Paris saw fumes from Notre-Dame on one side and yellow vests (Gilets Jaunes) coming out on streets. Despite his falling popularity, my macro bet is still on Macron. His manual seems right for Europe. US Scientists revived brain cells of a dead Pig, he can do that with NATO. Multilateralism has been on the wane, we need leaders who aresane.
Boris bore the brunt of judges for bypassing Westminster and boxing his way into a no-bargain Brexit. Now, he is back with a bang in Downing Street, Labor is broken under Corbyn’s feet. UK has entrusted this hairy Tory but negotiation with EU and SNP may not be so hunky dory. Baby Archie brought Pounds of luck, Britain won cricket world cup.
Robert Mugabe, liberator turned dictator, has left an interesting tale. Abiy Ahmed deserves it for infusing a new hope in Ethiopia. Africa needs leaders like him. Jokowi is back in Jakarta while Rajapaskas Dynasty will run the Ceylon tea party.
Despite hazy clouds, equity markets kept dancing like BTS and indices rose like their followers. Commodities are entering the party. Greece and Italy issued bills at negative yields. Forget bulls and bears, even PIIGS made money. Lenders paying bond issuer, what a bonding orchestrated by central banks. Inverted yield curve subverted Fed’s agenda. Japanification of developed world can create risks for pension funds. Hangover of excessive debt is being treated by more monetary alcohol. In a savings glut world, fiscal policy (promoting capex) must take the reins. Building a sustainable economy with new Infrastructure can cure several social and economic ills. I wish Keynes wasaround.
I thought of John Bogle, the Ironman of capital markets, for being at the Vanguard of democratizing equity ownership. Paul Volcker, the crusader at US Fed and the paragon of public service will always “rule” American hearts.
Ranting investors demitted founder Neumann from Wework’sofice. Softbanks had a hard time while Uber and Lyft had a tough ride on bourses. Bolsonara’s bytes bite hard, but his reforms have brought a bull market in Brazil’s Bovespa.
Satya Nadella reached Cloud nine with Microsoft making a trillion-dollar Power-point while Tim has Cooked an equally large Apple pie. Google founders had their best moonshot in SundarPichai. Can he Doodle the next trillion dollar Alphabet. You bet. Libra didn’t find currency with regulators. Mark my words, public wrath on data privacy issues will continue. Coordination among scientists brought first images of black holes. Tides of de-globalization and cyber risks are dark matters. Ask Jack Dorsey.
Boeing facing turbulent weather deplaned its CEO. United Technologies is uniting with Raytheon. BMS-Celgene and Abbvie- Allergen will create new bio-concoctions. Philip Morris’s proposed marriage with Altria went in smoke while LVMH ringed Tiffany. What a Juul!.
MBS & Co saw Yemenis drones hitting their wells and ESG-infected investors not taking Aramco well. Oil apart, Middle east owdy Modi to drill a well of partnership. Rafale jets backfired on Rahul in election WAR as.
Texas – a promising oil-field was chosen by HBHARAT voted with Josh – PhirEkBaar, Chowkidaar. India lost stalwarts like Jaitley and Sushma. Netflix bid adieu to Game of thrones. The ultimate Power (Pawar) game was played in Maharashtra. Legislators shuttled like PV Sindhu. Let’s do 370 prayers and work with an Inner-net to build a peaceful, pragmatic and prosperous India.
The economy needs the boldness and precision of a surgical strike. Rate cuts, liquidity and now operation Twist, RBI is showing its fist to take the economy out of mist. My wish for financial system – May the Shakti be with you. A lot that others need to do what Das Kan’tdo. Corporate tax cut makes the cut. RCEP or no-RCEP, Indian businesses should build biceps of innovation and efficiencytobefuture-ready.WiththemightofmillionsofGullyboys,$5 trillioncouldbeinsight.Iamsure,Apnatimeayega.
Nifty axed 12000 walls of worries. Those holding mid and small caps lost their caps. Its’ time for bottom fishing. Telecom’s trunk call got attended. Time will reveal whether Essar deal was a steal for Arcelor. A big leap for bankruptcy process for sure. Yes, stressed financial entities need faster resolution. Naresh Goyal lost a Jet privilege. I sympathize with lenders, crew and flyers. Corporate Dewans need to perk up their CG power (Corporate Governance). Azim Premji’s bequest touched $ 21 billion, I salute his AseemPremforsociety.
I wish the barbarous mindset that wounded us in Pulwama, Khartoum, New Zealand’s Christ Church, Colombo and Congo learns the message of universal brotherhood from sages like Guru Nanak and Gandhi. In a polarized world, bereft of many true leaders, Gandhi remains the glowing lighthouse. His advice on seven sins are as relevant for business leaders, especially against “commerce without morality”. He remains relevant in his 150thanniversary, hence a strong contender.
It has been 30 winters since Capitalism celebrated the fall of the Berlin Wall. Many invisible walls continue to grow taller. Listen to the loud chorus in protests in Hong Kong, Gilets Jaunes, Chile or Extinction Rebellion. Before we criticize our premiers, what about the wall between those corporate moguls who can prevent climate change and the other earthlings who bear the consequences. Would it be long before the protests are at their gates? Millennials and Gen-Z are wired differently. While buying, they care as much about the planet and the people as about the price and product. Marketers, rework your 4 Ps. Thankfully, in 2019, the influential US CEO roundtable turned the tables. Their new bottom line is – it’s not the bottom line alone that matters. Be as particular about the Planet and People as about Profits. Abhijit and Esther’s “Poor Economics” may help companies do as much for sustainable value creation as review of “Project Economics”. Investors are future proofing their portfolios with ESG (Environmental, Social & Governance) screeners. Sustainable investing crossed $30 trillion and counting. Gen-Z will hasten this transition. What their money does is as important to them as what it earns. Investing bulls of tomorrow will charge at Green- Bonding, Community-Binding and Values-Abidingbusinesses.
The glowing story of human prosperity has been written with the invigorating ink of capitalism; communism and socialism were too dull for that. Challenges like rising inequality and pompous populism are testing the tenacity of capitalism. Businesses need societal permit to operate, hence, sense of Purpose will be pivotal to earn profits in perpetuity.
Business as usual will no longer be usual. ‘Capitalism with Conscience’ is my Person of the Year. Standing ovation!
Corporate Comm India(CCI NewsWire)
