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<ul class="summary-list"><li>China has announced a local government debt rescue program days after Trump won the US election.</li><li>Trump has threatened tariffs of 60% on Chinese goods, complicating China's economic gloom.</li></ul>China announced a debt rescue program to the tune of $1.4 trillion to save heavily indebted local governments and boost its economy.China's Standing Committee of the National People's Congress — its top legislative body — approved 6 trillion Chinese yuan to refinance local governments' hidden debt over three years, according to <a target="_blank" class="" href="http://politics.people.com.cn/n1/2024/1108/c1001-40357125.html">Xinhua state news agency.</a>Hidden debt refers to off-balance sheet liabilities issued by local government financing vehicles, or LGFV, to finance infrastructure investment.The plan also allows local governments to tap 4 trillion yuan in special local bonds over five years.The announcement came after the legislative body met from Monday to Friday.China's local governments have been struggling to repay their LGFV debt, which the <a target="_blank" class="" href="https://www.imf.org/en/Publications/CR/Issues/2024/08/01/Peoples-Republic-of-China-2024-Article-IV-Consultation-Press-Release-Staff-Report-and-552803">International Monetary Fund</a> estimated to be around 60 trillion as of last year. It's another risk to China's economy, which has been struggling with a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-real-estate-property-market-speculation-debt-crackdown-xi-jinping-2023-8?utm_medium=ingest&amp;utm_source=markets">property crisis,</a> deflation, and high youth unemployment.Reuters reported last week that China's top legislative body was considering a plan to raise $1.4 trillion in extra debt over the next few years to fund part of an economic rescue package.As early as Monday, Chinese Premier Li Kiang drummed up market expectations for more <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-li-qiang-fiscal-stimulus-market-sentiment-us-election-2024-11">economic stimulus</a>, saying Beijing has "ample space for fiscal policy and monetary policy."The bumper stimulus came on the heels of Donald Trump's victory in the US presidential election earlier this week, which is likely to change Washington and Beijing's trade relationship.A China hawk, Trump has pledged to slap <a target="_blank" rel="" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5?utm_medium=ingest&amp;utm_source=markets">a 10% to 20% tariff</a> on all imported goods. He has threatened tariffs of 60% on goods imported from China.This would put further pressure on China's economy, which is still trying to recover following nearly three years of pandemic curbs.In late September, China rolled out <a target="_blank" rel="" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9?utm_medium=ingest&amp;utm_source=markets">aggressive stimulus</a> that boosted sentiment and spurred a bull run in the stock markets. However, analysts say that Beijing still needs to do more to drive consumption.If Beijing's latest stimulus disappoints, it may be in part due to China's own policy conflicts between its socio-political and economic objectives and the constraints, Vishnu Varathan, Mizuho Bank's chief economist of Asia excluding Japan, wrote in a note a week before the debt rescue announcement.Notably, China may be still holding back to avoid one thing: "the optics of over-reacting to US elections," wrote Varathan.

China just announced an $1.4 trillion plan to rescue its local governments

<ul class="summary-list"><li>Spain's eastern province of Valencia was hit hard by intense flooding last week.</li><li>The government has pledged $11 billion to help it recover, but local authorities want $34 billion.</li></ul>Spain said it will give about $11 billion to help restore Valencia after flash floods hammered the province last week — but local authorities there want three times that amount.Historic, deadly flash floods — brought about by torrential rainfall — hit the area last week, killing at least 211, regional emergency services <a target="_blank" class="" href="https://x.com/GVA112/status/1853698255730942163">said</a> on Wednesday.Spain's State Meteorological <a target="_blank" class="" href="https://www.businessinsider.com/spain-flooding-51-dead-in-valencia-region-economic-hub-2024-10">Agency</a> said last week that it was the province's most severe storm since 1987.During a press conference on Tuesday, Spanish Prime Minister Pedro Sánchez said his government had <a target="_blank" class="" href="https://x.com/sanchezcastejon/status/1853796678265938374">approved</a> $11.55 billion in loans and grants to help storm and flood victims.However, a day earlier, the province's president, Carlos Mazón, <a target="_blank" class="" href="https://x.com/carlos_mazon_/status/1853555363678728545">said</a> local authorities had asked for an initial package equivalent to about $34 billion."The measures will serve to rebuild, relaunch, and mitigate the effects" of the storm, Mazón told reporters.<div type="image" title="Satellite images of the Valencia province before and after flash floods on October 25, 2022 (left), and October 30, 2024 (right)." height="480" width="640" msid="114986283" hostid="261" sizebytes="62758"></div>On Saturday, Valencia's Chamber of Commerce <a target="_blank" class="" href="https://www.camaravalencia.com/noticias/informe-sobre-danos-provocados-por-la-dana-en-los-municipios-mas-afectados-y-consecuencias-sobre-la-actividad-economica/">estimated</a> that up to 4,500 businesses had suffered notable damage, with potentially 1,800 severely impacted.The floods affected many economic sectors, including agriculture, industry, and services, it said.Automaking remains Valencia's most <a target="_blank" href="https://www.investinspain.org/en/regions/comunidad-valenciana/industrias-destacadas?#nameRegion">important industry</a>.Cristina del Rey, the communications director for Ford Spain, told BI last week that her company's Valencia plant had not suffered direct damage from the floods but was shut on Wednesday and Thursday.According to a <a target="_blank" rel="noopener noreferrer nofollow" class="c-link c-link--focus-visible" href="https://fundacionaon.es/wp-content/uploads/2022/11/BAROMETRO-DE-CATASTROFES-2021.pdf">report</a> from the Aon Spain Foundation, a private foundation that works to prevent and assist with natural disasters, the annual cost of natural disasters in Spain between 2016 and 2021, including floods, was between $940 million and $2.5 billion.Local authorities on Sunday <a target="_blank" class="" href="https://x.com/GVA112/status/1853692672327721128/photo/1">said</a> that the heavy rains — part of a phenomenon known as "cold drops" — had caused "unprecedented" damage to infrastructure and human life.The provisional death toll put it among the most serious natural disasters in Western Europe in recent years. Widespread flooding in July 2021 killed more than 200 people in Belgium, Germany, and surrounding countries.At a <a target="_blank" class="" href="https://x.com/i/broadcasts/1ynJODVpRdXxR">press conference</a> on Tuesday, Sánchez declared Valencia a disaster area, paving the way for extra funding for local authorities.He said about 15,000 soldiers and police officers had been dispatched to the province, as well as 287 forest brigaders, around a hundred customs officers, 44 forensic physicians, and 600 specialized vehicles for pumping, cleaning, and supplying the affected areas.Sánchez added that 98% of affected households now had power, and about 25 miles of roads and 46 miles of railway tracks had been repaired."We must continue working with more resources, more coordination, and greater effort until normality returns to all the municipalities and to all the homes affected by this tragedy," he said.

Counting the cost of Spain's hellish floods, the government pledged $11B, local officials want $34B

Delhi continued to battle with air pollution for the 10th consecutive day post-Diwali as a dense layer of smog blanketed parts of the national capital on Sunday. Several parts of the national capital recorded very poor air quality levels on Sunday morning as per the data issued by the System of Air Quality and Weather Forecasting And Research (SAFAR-India). Today morning, Anand Vihar recorded an AQI of 351, Bawana 383, CRRI Mathura Road 323, Dwarka Sector 8 at 341, IGI Airport at 326, ITO 328, Lodhi Road 319, Mundka at 358, Najafgarh at 341, New Moti Bagh at 394, Okhla phase-2 at 339, RK Puram at 368, and Wazirpur at 366, as per SAFAR-India data. As of 5 pm on November 10, Delhi's AQI stood at 334, with Anand Vihar at 353, Dilshad Garden at 262, and Jahangirpuri at 377. For tomorrow, AQI in adjoining cities of Noida and Gurugram is forecasted to be at 208.92 and 77.51, respectively. Multiple visuals from Delhi's Kartavya Path showed the area surrounding India Gate engulfed by a layer of smog. The AQI in the area was recorded at 357 as of 7 am. High-rise buildings were also covered in smog in the Kalindi Kunj and surrounding locality, as the AQI was recorded as 323 in the area. An AQI is considered "poor" between '200 and 300', "very poor" at '301 and 400', "severe" at '401-450," and 450 and above is "severe plus." As the air pollution levels in the national capital reach "very poor," doctors say that even people with no history of respiratory diseases are suffering from breathing issues. Dr. Nikhil Modi, Senior Consultant for Respiratory Critical Care at Apollo Hospital, told ANI that apart from the regular patients, those who haven't had any respiratory issues in the past are showing up with symptoms such as runny noses, sneezing, coughing, and having increasing difficulties breathing. As it is, respiratory illnesses in the national capital are estimated to have shot up by around 15-20%. The Apollo doctor further suggested that the government close the schools for children as they remain vulnerable. Whenever the pollution levels have gone beyond a certain limit, the government has opted to close the schools, Dr. Modi said. "For the last few years, we have been seeing that the government has taken action. Whenever this pollution level has gone beyond a certain limit, they have opted to close the schools. This is important because children are from a vulnerable group. As adults, we are masked and can protect ourselves better, but children usually are not that effectively taking these measures. Secondly, their lungs are still in developing stages, so they are bound to have more harm due to this pollution," the doctor told ANI. Siddharth Singhal, Head of Health Insurance, Policybazaar.com, notes that while most standard health plans in India cover pollution-related ailments, it is always advised to also go for an OPD plan along with a health insurance plan to cover consultations, medications, and diagnostic tests that may be required frequently due to pollution. "Pollution levels in Delhi-NCR and some other parts of India have shot up post Diwali. Effects of this are very evident in the form of sore throats and breathing problems, among others. This can also result in respiratory ailments and chronic conditions like asthma, bronchitis, Chronic Obstructive Pulmonary Disease (COPD), pneumonia, and severe cases of respiratory or bronchial obstruction. Health insurance becomes critical to cover such expenses. Most policies typically cover emergency hospitalization for respiratory issues like asthma or COPD exacerbations requiring ICU or critical care," he adds.

Layer of smog covers Delhi as air quality remains 'very poor'. Here's why you need an insurance cover for this

Luxury car maker <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="261" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword> India on Monday expanded its <keyword id="20763359" type="General" weightage="20" keywordseo="Battery-Electric-Vehicle" source="keywords">Battery Electric Vehicle</keyword> (BEV) range in the country with the launch of the locally produced <keyword id="23188212" type="General" weightage="20" keywordseo="EQS-580-4MATIC" source="keywords">EQS 580 4MATIC</keyword>. India is the first country outside the US to start the <keyword id="20805504" type="General" weightage="20" keywordseo="local-production" source="keywords">local production</keyword> of the seven-seater electric SUV. EQS SUV 580 4MATIC is the second model, after the EQS sedan, to be locally produced at company's Pune-based manufacturing plant. "This will be our sixth EV in India, and the second car to be locally produced in India. We are also proud that India becomes the first market out of the US to locally manufacture the EQS," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI in an interaction. The move to manufacture the product locally outlines the company's commitment to electrification and increasing product portfolio offering choices to customers, he added. "EQS SUV's localisation underpins our deep commitment to grow the Indian <keyword id="23188213" type="General" weightage="20" keywordseo="luxury-electric-car" source="keywords">luxury electric car</keyword> market and reinforce our commitment for a greener and sustainable future," Iyer said. The move also supports the government's vision of Make-in-India, he said. Iyer said local production has led to a significant advantage in terms of pricing the electric SUV. The introductory price of EQS SUV 580 4MATIC starts at Rs 1.41 crore which should also make a lot of customers shift to EVs much faster in terms of transition, he said. When asked about the demand for green vehicles, Iyer said the sales of EVs were growing in the country with even high-end products finding acceptance. "The EQA sedan which was introduced in India around 18 months back, we have sold more than 500 cars. It's a car costing more than Rs 1.6 crore. Our total penetration of EVs is 5 per cent today, it's growing. For sure, customer acceptance is there," he stated. Iyer noted that the company remains committed to offer top-end luxury EV products offering higher range in the market. He noted that there may be more opportunities in the entry EV segment but the focus of the company firmly remains on bringing luxury products in the market. "To bring products at lower price points, that is not our current strategy," Iyer said. The company aims to offer products with higher driving range, a factor that leads to bigger battery and escalation in price, he added. The EQS SUV 580 4MATIC is India's longest range electric SUV with ARAI certified range of 809 kms. Iyer said the company remains committed to the Indian market and has announced an additional investment of Rs 200 crore earlier towards manufacturing operations, new product start-ups and digitisation of manufacturing processes. The company till date has invested over Rs 3,000 crore in India, he added. In the January-September period this year, Mercedes-Benz India has launched three new BEVs ' EQA, EQS SUV 580 and Mercedes-Maybach EQS 680 SUV. With the EQS SUV 580 4MATIC, the company now offers the EQA, EQB, EQE SUV, EQS SUV, EQS sedan and Maybach EQS SUV 680 in the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/arkade-developers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113384216.cms">Arkade Developers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-neo-with-dimensity-7300-50mp-camera-launched-in-india/articleshow/113386868.cms">Motorola Edge 50 Neo with Dimensity 7300, 50MP camera launched in India</a>

Mercedes expands BEV range; rolls out second locally produced model in India

The former <keyword id="19935584" type="General" weightage="20" keywordseo="RSS-chief" source="keywords">RSS chief</keyword>, <keyword id="23419565" type="General" weightage="20" keywordseo="Subhash-Velingkar" source="keywords">Subhash Velingkar</keyword>, recently stirred significant controversy by demanding a <keyword id="20615498" type="General" weightage="20" keywordseo="DNA-test" source="keywords">DNA test</keyword> on the relics of <keyword id="23459102" type="General" weightage="20" keywordseo="St-Francis-Xavier" source="keywords">St. Francis Xavier</keyword>. Velingkar claims that the test would confirm the authenticity of the remains, but his statement has triggered protests and condemnation from Goa’s <keyword id="19935795" type="General" weightage="20" keywordseo="Catholic-community" source="keywords">Catholic community</keyword>, who view it as a direct affront to their faith. This article will explore the significance of St. Francis Xavier in Goa, examine the implications of a DNA test, and review the political and social reactions to Velingkar's statement. <h2>St. Francis Xavier in Goa</h2>St. Francis Xavier, one of the most venerated Catholic saints in the world, arrived in Goa in 1542 as a Jesuit missionary. He played a crucial role in establishing Christianity in Goa and spreading it across Asia. Known for his compassion and selfless dedication, he is affectionately referred to by Goans as “Goencho Saib” (Protector of Goa). <div type="Article" hostid="261" msid="112672114" title="“Please do not photograph our homes!” plead Goa’s homeowners" mstype="2" mssubtype="0"></div>His relics, preserved at the Basilica of Bom Jesus in Old Goa, draw millions of pilgrims from across the globe. The relics are especially significant because, every ten years, they are publicly displayed during the Exposition, a major religious event that unites the community in faith and reverence. <h2>What is a DNA test, and what could it prove?</h2>A DNA test involves analysing genetic material to establish relationships, origins, or identity. DNA testing on human remains can reveal biological data such as ancestry, possible familial connections, or genetic characteristics. In this case, Velingkar’s call for a DNA test is ostensibly aimed at verifying whether the relics truly belong to St. Francis Xavier. However, such a test would be challenging because it would require preserved genetic material, which might not be feasible — although doable under the right conditions — after nearly 450 years. The main issue is that without direct descendants or known relatives, a DNA test would have limited capacity to “prove” the relics' authenticity definitively. Many Goans argue that such a test is unnecessary, given the historical and religious context of the relics and the deep spiritual significance they hold. <h2>Protests across Goa and political fallout</h2>Velingkar’s remarks have provoked a backlash, with protests erupting across Goa. Demonstrators in Margao and Canacona have voiced their anger, demanding Velingkar be arrested for offending their <keyword id="19978801" type="General" weightage="20" keywordseo="religious-sentiments" source="keywords">religious sentiments</keyword>. At these gatherings, local leaders have condemned his statements, arguing that he is attempting to provoke divisions in Goa’s harmonious society. Some have also called for Velingkar to undergo psychological evaluation, questioning his motives and the wisdom of his demand for a DNA test. While Chief Minister Pramod Sawant has assured the public that legal action will be taken, some community members remain sceptical, perceiving a lack of urgency. The Congress party has criticised the BJP-led state government, accusing it of neglecting the issue to avoid alienating potential voter bases. <div type="Article" hostid="261" msid="111809476" title="Why is a music festival causing controversy in Goa?" mstype="2" mssubtype="0"></div>The controversy has also cast a spotlight on the BJP’s stance toward the Catholic community, particularly considering how the state was mum for an exceedingly long time on their intentions to invite Pope Francis to the upcoming Exposition. This hesitation and the ongoing controversy has compounded frustrations among Goans, leading to questions about the government’s respect for religious diversity in the state. Goa’s history is marked by religious tolerance and a unique blending of cultures. The Catholic Church has played a pivotal role in maintaining peace and fostering unity across different communities in the state. By calling for a DNA test on the relics of a beloved saint, many argue that Velingkar risks jeopardising this delicate balance. Religious leaders have warned against divisive rhetoric, underscoring that Goa’s strength lies in its ability to maintain harmony among its diverse population.

Goa protests: Why is an ex-RSS chief demanding to DNA test the body of a 450-year-old sacred saint?

The UK's population growth story in 2023 has a spicy twist that might bring delight to any Indian students worried about feeling alienated in the country. According to the UK's Office for National Statistics (ONS), the country's population grew by 1% to reach 68.3 million, largely due to net international migration, which hit record levels. Not only does this mark the biggest annual rise since the post-World War II era, the vast majority of these immigrants were Indians! England and Wales alone saw a combined increase of 610,000 people in a single year, the most significant jump in 75 years. Compare that to 2015 when <keyword id="20330607" type="General" weightage="20" keywordseo="net-migration" source="keywords">net migration</keyword> was just 329,000 before the Brexit referendum, and it's clear how dramatically the landscape has shifted. <h2>From <keyword id="28249" type="General" weightage="20" keywordseo="europe" source="Orion">Europe</keyword> to India</h2>What’s really turning heads, though, is the shift in where these migrants are coming from. Post-Brexit, the number of European Union migrants has dropped, but in their place, there’s been a rise in immigration from countries like India, Nigeria, and Pakistan. Indians, in particular, have become the lifeblood of essential sectors in the UK, taking on roles in health and social care that are critical to keeping the nation ticking. <div type="Article" hostid="261" msid="114121642" title="Voting in the UK and French elections taught me a concerning lesson that Americans should heed when heading to the polls" mstype="2" mssubtype="0"></div>In fact, Indians have consistently ranked as one of the largest groups of migrants globally, particularly in countries like the UK and the U.S. According to ONS data, Indian nationals made up the highest number of non-EU immigrants to the UK in the year ending June 2023, with 253,000 individuals migrating. This figure was significantly higher than any other non-EU nationality. <h2><keyword id="23508797" type="General" weightage="20" keywordseo="natural-population-decline" source="keywords">Natural population decline</keyword> and political pushback</h2>Meanwhile, the main point of surprise is that the UK’s natural population growth is actually headed in the opposite direction, with births declining faster than anticipated. The difference between births and deaths saw a drop of 16,300, a trend the ONS had only expected to start in the mid-2030s. This puts even more pressure on migration as the primary way to sustain population growth. <div type="Article" hostid="261" msid="114128296" title="I&amp;#39;m a Yale student who just spent a semester abroad in the UK. I now know I want to eventually move overseas for grad school." mstype="2" mssubtype="0"></div>However, as more Indians and other non-EU migrants make the UK their home, the political landscape is heating up. <keyword id="20960815" type="General" weightage="20" keywordseo="far-right-groups" source="keywords">Far-right groups</keyword> have taken to the streets, arguing that the influx is putting pressure on public services that have already been stretched thin by years of underinvestment. Fortunately for those keen on moving there, the UK Prime Minister Keir Starmer’s Labour government has responded with a softer stance on migration, dropping controversial policies like the deportation of asylum seekers to Rwanda But here’s the twist: despite all the hype around migration crises, irregular migration numbers have remained relatively stable. Between 2016 and 2023, the estimated number of irregular migrants in the UK, including trafficking victims and undocumented migrants, was between 594,000 and 745,000. So while internal headlines may scream about a tidal wave of migrants, the reality is far less dramatic. For Indians looking at this from afar, the UK's changing face might feel like a bit of deja vu. Once the British Empire stretched into India; now it’s as if Indians are slowly and surely stretching back into the UK, adding to the multicultural fabric. With fewer Europeans making their way to the UK, it’s almost like Indians are picking up where they left off, only this time, the spices, stories, and innovations are flowing the other way.

Reverse Colonialism? UK sees massive boom in migrant populations even as local birth rates decline, with Indians leading the pack

<keyword id="23188764" type="General" weightage="100" keywordseo="World-Tourism-Day-2024" source="Orion">World Tourism Day 2024</keyword> is celebrated every year on September 27 to show how important tourism is for the world. It focuses on how tourism helps bring people together, supports the economy, and shares cultures. This year <keyword id="22517201" type="General" weightage="20" keywordseo="World-Tourism-Day" source="keywords">World Tourism Day</keyword> is focusing on the connection between tourism and world peace. The United Nations is highlighting the importance of understanding different cultures and promoting sustainable tourism. <h2>History of World Tourism Day</h2>World Tourism Day has been celebrated on September 27 since 1980. This date marks the anniversary of when the Statutes of the UN's tourism organisation were adopted in 1970, an important step for global tourism. The timing of the day is perfect as it falls at the end of the busy travel season in the northern hemisphere and the start of the season in the southern hemisphere. In October 1997, the <keyword id="19949373" type="General" weightage="20" keywordseo="UNWTO" source="keywords" meta.keywordsubtype="org" meta.entityname="UNWTO" meta.hostid="261" meta.entityid="UNWTO">UNWTO</keyword> decided to have a different host country each year to partner in celebrating World Tourism Day. This day is important for raising awareness of how tourism affects social, cultural, political, and economic values around the world. <h2>Host country for this year</h2>In 2024, Georgia, a country known for its rich history, culture, and beautiful landscapes, will host World Tourism Day. Located between Eastern Europe and Western Asia, Georgia offers a unique mix of cultures. It is famous for its ancient churches, wine regions, and stunning mountains. Tourism in Georgia has been growing quickly, drawing millions of visitors from around the world. With its scenic beauty, Georgia is the ideal place to showcase how tourism promotes peace and cultural exchange. <h2>Theme for this year</h2>The theme for World Tourism Day 2024 is "<keyword id="23301034" type="General" weightage="20" keywordseo="Tourism-and-Peace" source="keywords">Tourism and Peace</keyword>." Tourism plays an important role in promoting peace by bringing people from different cultures together and helping the economies of host countries. As people travel and experience new cultures, it leads to more understanding and tolerance. Tourism can break down barriers and build strong connections between nations. It also helps local communities by creating jobs and encouraging sustainable practices, which supports peace and prosperity in the long run. <h2>Indian Government initiatives to promote tourism</h2>The Indian government is working to improve tourism with several initiatives and schemes. Some key efforts include: E-Visa Facility: Nationals from 167 countries can now apply for e-visas online under seven categories, like e-Tourist and e-Business visas. The fees have been lowered to make travel more affordable. Swadesh Darshan Scheme: Started in 2014-15, this scheme creates theme-based tourist circuits across India. By 2023-24, 73 projects have been completed, with a total investment of ₹5,294.11 crore. Swadesh Darshan 2.0: This updated scheme focuses on developing 57 destinations across 32 states and Union Territories for integrated tourism development. PRASHAD Scheme: Aimed at improving infrastructure at pilgrimage sites, 46 projects have been approved so far, with ₹1,621.13 crore set aside for their development. SEE ALSO: <a href="https://www.businessinsider.in/travel/international/webstories/world-tourism-day-2024-exploring-the-10-most-peaceful-countries-on-earth/slidelist/113590691.cms" data-type="tilCustomLink" target="_blank">World Tourism Day 2024: Exploring the 10 most peaceful countries on Earth</a>

World Tourism Day 2024: All about the theme, host country, and tourism-boosting initiatives

<ul class="summary-list"><li>Elon Musk is calling for deregulation and spending cuts to make the government more efficient.</li><li>The billionaire's mindset echoes previous efforts to run the US government like a business.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> is on a mission to make the US government more efficient, touting deregulation and decreased spending in public appearances as he <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">courts a role</a> in a potential second Trump administration.The billionaire evangelized about efficiency during a live appearance at the All-In podcast Summit in Los Angeles on Monday, suggesting he would draw on his business acumen to slash federal spending if chosen as the <a target="_blank" class="" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">head of Trump's would-be government efficiency commission</a>."We do have an opportunity to do a once-in-a-lifetime deregulation and reduction in the size of government," Musk said at the summit appearance about a potential <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wants-elon-musk-on-his-cabinet-2024-8">Trump win</a>.But two political scientists told Business Insider that Musk's desire to <a target="_blank" class="" href="https://hbr.org/2017/03/the-u-s-cannot-be-run-like-a-business">run the US government like a private business</a> — an approach many private sector professionals have supported for decades — isn't as foolproof as the CEO might think.Musk did not respond to a request for comment.<a target="_blank" href="https://www.businessinsider.com/elon-musk-donald-trump-feud-relationship-timeline-2022-7">Musk has done a 180</a> in his support for Trump. The billionaire endorsed Hillary Clinton in 2016, but after Trump won, accepted a role on two of the then-president's economic advisory councils. He later departed the administration, citing Trump's environmental policies.But since Musk officially endorsed Trump in July, he's repeatedly <a target="_blank" class="" href="https://x.com/elonmusk/status/1834104386303520822">posted</a> on X about the need for government efficiency."The idea that you can run the entire government as a business, it's just not designed that way," said Patricia Crouse, a practitioner in residence of political science and public administration at the University of New Haven. "You have to work around our system of federalism."Trump, a businessman turned politician, based much of his first presidential campaign on the notion that his <a target="_blank" class="" href="https://www.washingtonpost.com/news/politics/wp/2017/03/27/trumps-idea-to-run-the-government-like-a-business-is-an-old-one-in-american-politics/">experience in the private sector</a> would guide his approach to politics.While perhaps misguided, both experts said it's not an entirely unfounded line of thinking. According to the academics, the government is inefficient in many ways, and accusations that federal agencies waste time and money are not always unwarranted.But the push to make the government work more like a business <a target="_blank" class="" href="https://www.businessinsider.com/cost-efficiency-isnt-best-measurement-government-policy-2022-6">misunderstands a fundamental element</a> of US federalism — profit is not the end-all, be-all, political science experts said."Government is almost always more inefficient than the private sector because their motives are just different," said Christian Grose, a professor of political science at the University of Southern California.<div type="image" title="Al Gore and Bill Clinton stand at a podium holding a government report" height="1460" width="2921" msid="113345808" hostid="261" sizebytes="110754"></div><h2 id="7c8addd5-408c-4950-b159-3797e89f7a84">Profit vs. Protection</h2>Efforts to privatize parts of the US government date back decades. The modern-day push for a business-like government has its roots in <a target="_blank" class="" href="https://www.businessinsider.com/theres-a-big-difference-between-reaganomics-and-trumponomics-2017-3">Reaganomics</a>, the economic policy put forth by President Ronald Reagan in 1981, which reduced regulation, slashed government spending, and scaled down the federal workforce.The other side of the aisle took a similar approach in 1993 when then-Vice President <a target="_blank" href="https://www.businessinsider.com/im-a-recovering-politician-and-wont-run-for-office-again-al-gore-2022-7">Al Gore</a> launched the Reinventing Government initiative, which attempted to streamline government processes and minimize bureaucracy.Former President George W. Bush also had a business background, making his pre-presidency fortune in the Texas oil industry. Once in office, Bush cut regulations with his Faith-Based and Community Initiative, which sought to outsource some social services to faith-based groups.Grose said the pro-business mentality is present in local and state government, too, adding that private sector professionals often run gubernatorial races on such platforms.Political experts said it makes sense that business leaders like Musk would see only inefficiency and wastefulness in the government's operations."In the private sector, the motive is profit. The less efficient you are, the less profitable you are," Grose said. "But inefficiency in the private sector isn't the same."The <a target="_blank" class="" href="https://www.businessinsider.com/privitizing-public-goods-healthcare-education-doesnt-work-opinion-2022-1">government's job isn't to make money,</a> but to regulate and keep people safe."Sometimes that's not efficient in an economic sense," Grose added.Consider, too, that the government and businesses serve very different stakeholders, Grose said. CEOs have to answer to stockholders and a board of directors — the president has to answer to every American in the country.<div type="image" title="Elon Musk and donald Trump sit at a table" height="2200" width="3300" msid="113345810" hostid="261" sizebytes="236978"></div><h2 id="77ff06c1-a7ce-42dd-87ed-6be17fc49a6d">The pitfalls of privatized government</h2>Crouse said the consequences could be dire if Trump and Musk are able to make massive cuts to federal agencies."If you decide you want to run the government entirely like a business, you're going to see things like poverty and <a target="_blank" class="" href="https://www.businessinsider.com/us-job-market-unemployment-rising-federal-reserve-interest-rate-cut-2024-7">unemployment</a> increase because it becomes every man for himself," Crouse said.For all of its faults, the federal government has a fail-safe of sorts, thanks, in part, to its massive size, Crouse said. She added that outsourcing critical government services to private companies runs the risk that those services could disappear if the company went bankrupt."A business isn't really self-correcting, at least not as easily as government is," Crouse said.Crouse said that privatizing the federal government could also lead to increased corruption, pointing to the <a target="_blank" class="" href="https://www.businessinsider.com/private-prisons-lobby-for-their-own-existence-2016-8">for-profit prison industry</a> as one example. In 2008, two Pennsylvania judges were convicted of <a target="_blank" class="" href="https://apnews.com/article/crime-trending-news-government-and-politics-6f30f575dc739415af1e5b47b1be50f0">accepting money in return</a> for sending kids to private detention centers to increase occupancy."Businesses are out to make a profit, so they're going to do what they can to increase profits, and if the consumer gets hurt in the process of doing that, well, that's all a part of business," Crouse said.Beyond the logistical issues associated with a business-like government, Grose said he was skeptical of the sentiment at the heart of Musk's comments earlier this week, casting doubt on whether a second Trump presidency would result in "once-in-a-lifetime" deregulation.While Trump did engage in <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-dodd-frank-deregulation-bill-trump-gop-obama-legacy-2018-5">some deregulation</a> during his first term, Grose said he didn't behave like a traditional business Republican, citing his tariffs and tax cuts, the latter of which helped the <a target="_blank" class="" href="https://www.propublica.org/article/national-debt-trump">national debt surge.</a>"It's not obvious to me that he is a massive budget cutter based on past experience," Grose added.Both Crouse and Grose also expressed hesitation about taking business advice from Musk, pointing to the <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-looks-like-he-is-destroying-x-intentionally-2023-11">breakdown of Twitter, now X</a>, after the billionaire bought the site in 2022.Ultimately, however, both said the 235-year-old federalism that governs America simply isn't equipped to handle the pressures faced by private businesses."My fear is that it would collapse," Crouse said.

Elon Musk's ideas about government efficiency are all wrong, political scientists say

The <keyword id="19897865" type="General" weightage="20" keywordseo="telangana-government" source="keywords">Telangana Government</keyword> on Tuesday requested the 16th <keyword id="20015455" type="General" weightage="20" keywordseo="finance-commission" source="keywords">Finance Commission</keyword> to increase the share of states in <keyword id="386992" type="General" weightage="100" keywordseo="central-taxes" source="Orion">Central taxes</keyword> from the existing 41 per cent to 50 per cent as over the years cesses and surcharges that are not shared with states have increased. Deputy Chief Minister in-charge of Finance <keyword id="21396591" type="General" weightage="20" keywordseo="bhatti" source="keywords">Bhatti</keyword> Vikramarka in his speech at the meeting with Finance <keyword id="19933395" type="General" weightage="20" keywordseo="commission" source="keywords">Commission</keyword> Chairman <keyword id="20016026" type="General" weightage="20" keywordseo="arvind-panagariya" source="keywords">Arvind Panagariya</keyword> and members also urged the finance panel to ensure that states are given the necessary autonomy to tailor <keyword id="20109166" type="General" weightage="20" keywordseo="css" source="keywords">CSS</keyword> (centrally-sponsored scheme) programmes to their specific development needs. "In addition, we propose increasing the share of states in Central taxes from 41 per cent to 50 per cent. Over the years, cesses and surcharges that are not shared with states have increased, leaving states with a smaller share of total gross tax revenue," he said. Increasing the vertical devolution will give states the fiscal space they need to strengthen welfare programmes, address infrastructure gaps and prioritise local development, he further said. He, however, said it is not just a demand for <keyword id="19909031" type="General" weightage="20" keywordseo="telangana" source="keywords">Telangana</keyword> but for all states, ensuring a more cooperative federal structure that will benefit the nation as a whole. Bhatti further said the state government urges the Finance Commission to reconsider the use of per capita income distance as the primary indicator in determining horizontal devolution as measuring prosperity and well-being solely by per capita income would deny Telangana the resources needed to address the inequities that exist within the state. The state government is suggesting that the formula for horizontal devolution be modified to add at least a 50 per cent weightage to <keyword id="20149362" type="General" weightage="20" keywordseo="gsdp" source="keywords">GSDP</keyword> (gross state domestic production) contribution. "A greater weight on GSDP would incentivise states to adopt reforms that improve productivity, attract investment and create jobs, ultimately contributing to the national economy. This approach would not only make states more competitive but also help reduce regional disparities, encouraging more balanced growth across the country," he opined. Pointing out that certain expenditures for schemes such as Rythu Bharosa, farm loan waivers and food subsidies are often mislabelled as "freebies," he urged the Commission to recognise these programmes as necessary investments in the welfare of our people. He mentioned that a large part of the state's resources is now being diverted toward debt servicing and hence requested the Finance Commission's support in either restructuring this debt or providing additional assistance to help free up resources for further development. The 16th Finance Commission, led by its chairman Arvind Panagariya, held meetings with several political parties, representatives of local bodies and industry chambers here on Monday as part of its visit to Telangana.

Telangana urges 16th Finance Commission to increase states' share in Central taxes to 50%

<ul class="summary-list"><li>The feud between Elon Musk and the Brazilian government over content on X is escalating.</li><li>On Monday, <a target="_blank" class="" href="https://www.reuters.com/technology/brazils-supreme-court-chamber-forms-majority-uphold-x-suspension-2024-09-02/">Reuters reported</a> the Brazilian telecom regulator Anatel may slap Starlink with sanctions.</li></ul>A months-long battle between the Brazilian government and Elon Musk reached new heights this weekend when the country shut down access to the billionaire's social-media platform, X.But the conflict only grew more heated on Monday as Brazil's telecom regulator set its own sights on another of Musk's companies. Now, the Brazilian government is reportedly weighing slapping Musk's Starlink with sanctions, according to <a target="_blank" class="" href="https://www.reuters.com/technology/brazils-supreme-court-chamber-forms-majority-uphold-x-suspension-2024-09-02/">Reuters</a>.It's the latest escalation in the ongoing feud that caught global attention Saturday when Brazilian Supreme Court justice Alexandre de Moraes ordered access to X blocked nationwide, after the social-networking giant failed to comply with legal mandates about content moderation and to pay fines that currently exceed $3 million.Over the weekend, Musk posted a volley of insults on X that sought to raise questions about de Moraes' credibility and political motives, <a target="_blank" href="https://x.com/elonmusk/status/1829308905177956551">calling him</a> "an evil dictator cosplaying as a judge." In another <a target="_blank" class="" href="https://x.com/elonmusk/status/1830091917654168032?s=42">post</a>, Musk alleged without evidence that the justice had "engaged in serious, repeated &amp; deliberate interference" in Brazil's most recent presidential election, which saw far-right President Jair Bolsonaro defeated.Starlink, a satellite internet system and subsidiary of Musk's SpaceX, has become engulfed in the increasingly acrimonious clash in recent days. First, the Brazilian government froze several of Starlink's bank accounts. Then, Starlink sent a note to Anatel, Brazil's telecom regulator, indicating it would refuse to adhere to the court order to curtail access to X until its local accounts were unfrozen, <a target="_blank" class="" href="https://www.reuters.com/technology/starlink-tells-brazil-regulator-it-will-not-comply-with-x-suspension-2024-09-02/">Reuters</a> reported Monday.Now, <a target="_blank" class="" href="https://www.reuters.com/technology/brazils-supreme-court-chamber-forms-majority-uphold-x-suspension-2024-09-02/">Reuters</a> reports that Anatel is contemplating levying sanctions against Starlink, which could include stripping the company of its license to operate in Brazil. Representatives for X and SpaceX did not immediately respond to requests for comment on Monday afternoon.<h2 id="c9c8ecbc-94ed-4414-beb7-77b578d4f649">Musk escalates his attacks on Brazilian officials</h2>De Moraes triggered the shut-down of access to X after the platform refused to appoint a legal representative to respond to government requests about removing content supporting Bolsonaro, who was barred last year from running for office again until 2030.On Monday, a five-member panel consisting of fellow Brazilian Supreme Court justices upheld de Moraes' decision to cut off access to the website, underscoring the judiciary's support for the move even as Musk's attacks mounted online.<a target="_blank" class="" href="https://www.businessinsider.com/vpn-demand-surges-brazil-x-banned-legal-threats-fines-2024-9">Demand for VPNs</a> in Brazil — one of X's biggest markets — has surged since Saturday when X was blocked, despite threats from de Moraes to fine those using workarounds to circumvent the ruling some 50,000 reais ($8,900)."Bravo Brazilians!" Musk wrote in a <a target="_blank" class="" href="https://x.com/elonmusk/status/1830630202508017701?s=46">post</a> on X in response to reports that people in the country were refusing to comply.The X owner had other sharp words for the Brazilian government, including one post that suggested the company would seek to strip officials of some of their assets."Unless the Brazilian government returns the illegally seized property of X and SpaceX, we will seek reciprocal seizure of government assets too," Musk <a target="_blank" class="" href="https://x.com/elonmusk/status/1830651223722119223?s=46">wrote Monday</a>, including a link to a CNN report about the US seizure of Venezuelan President Nicolás Maduro's airplane."Hope Lula enjoys flying commercial," Musk added, an apparent threat to Brazilian president Luiz Inácio Lula da Silva.<h2 id="7ef95fd2-c233-4de2-abf4-5d8ff0cd1687">What the controversy could mean for Starlink</h2>The government's crackdown on Musk's businesses could mark a significant blow for Starlink, which hhas tripled its operations in the country over the last two years, according to Brazilian outlet <a target="_blank" class="" href="https://www1.folha.uol.com.br/internacional/en/business/2024/04/elon-musks-company-almost-tripled-in-brazil-in-less-than-two-years.shtml">Folha de São Paulo</a>.The company, which launched in 2019, uses a constellation of satellites to provide internet access in some of the world's most remote regions. In Brazil, it provides connectivity for more than a quarter million customers from the Amazon to Rio de Janeiro, according to its website. But Starlink has also drawn scrutiny for its role in international conflicts, including the war between <a target="_blank" class="" href="https://www.businessinsider.com/russia-disrupting-elon-musk-starlink-satellite-service-ukraine-jamming-report-2024-5">Russia and Ukraine</a>.The standoff is the culmination of <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-fight-brazilian-supreme-court-justice-x-2024-4">months of feuding</a> between Musk and de Moraes, mainly over X's refusal to remove far-right accounts and content that the Brazilian government deems extremist.De Moraes has sought the removal of X accounts affiliated with groups he calls "<a target="_blank" href="https://www.businessinsider.com/elon-musk-defies-brazil-order-to-block-x-accounts-2024-4">digital militias,</a>" which, he says, have spread disinformation to support Bolsonaro. The former president's loyalists tried and failed to initiate a <a target="_blank" href="https://www.businessinsider.com/brazil-bolsonaro-backing-capitol-riot-inspired-coup-former-leaders-warn-2021-9">military coup</a> following his 2022 election defeat, and stormed some government buildings in the capital.But Musk has objected to removing the content, calling the orders censorship. He closed <a target="_blank" class="" href="https://www.businessinsider.com/x-closes-brazil-office-elon-musk-alexandre-de-moraes-2024-8">X's Brazilian office</a> in mid-August after de Moraes threatened to issue an arrest decree against Rachel Nova Conceicao, a legal representative for the company.

As Elon Musk's battle with the Brazilian government intensifies, another of his companies is facing trouble

Dhaka [<keyword id="19919639" type="General" weightage="20" keywordseo="bangladesh" source="keywords">Bangladesh</keyword>]: At least 135 people have been estimated killed in violence across Bangladesh, according to local media reports. Police firings, mob beatings, and arson across the country killed at least 135 people before and after Sheikh Hasina resigned as prime minister on August 5, the Dhaka Tribune said Tuesday. In Sherpur District in northern Bangladesh, a mob armed with sticks stormed into the district jail, freeing more than 500 inmates. Crowds of protesters continued to roam streets in Dhaka and other Bangladeshi cities even after Prime Minister Sheikh Hasina resigned and left the country. The Bangladesh Army has temporarily taken power in the country and called on people to stop violence. An <keyword id="21030472" type="General" weightage="20" keywordseo="interim-government" source="keywords">interim government</keyword> is expected to be formed soon. As per the Dhaka Tribune, in Jessore, at least eight people were burned to death and 84 others were injured after unidentified arsonists set fire to a residential hotel. In Khulna, three people, including Koyra Upazila Parishad Chairman and Upazila Awami League President GM Mohsin Reza, were beaten to death by a mob. In Naogaon, a group of miscreants vandalised the residence of Food Minister Sadhan Chandra Majumder and miscreats vandalized and set fire to the house of Mashrafe Bin Mortaza, an MP. Bangladesh's military said it would lift a curfew imposed to quash protests at dawn today. <keyword id="22149156" type="General" weightage="20" keywordseo="anti-government-protests" source="keywords">Anti-government protests</keyword> continued in July led by students who took to the streets of various cities in the country to demand the abolition of <keyword id="22469096" type="General" weightage="20" keywordseo="job-quotas" source="keywords">job quotas</keyword> for relatives of participants in the 1971 war of independence. <div type="Article" hostid="261" msid="112289999" title="Bangladesh coup: A timeline of critical events that led to PM Sheikh Hasina’s resignation and alleged flight" mstype="2" mssubtype="0"></div>Bangladesh's Supreme Court ruled against reintroducing job quotas on July 21 but protestors continued to demand abolishing job reservations for children of "freedom fighters" from Bangladesh's 1971 independence war. Anti government protests escalated on August 4 Protestors were called to march to Dhaka for a "final protest" on August 5, escalating the confrontation with the government. As per local media reports and viral videos on social media, protestors yesterday entered the Parliament building and were seen taking away things. Some were also seen smoking while sitting on the chairs of the parliament hall. Another group entered Ganabhaban and was observed looting and posing with live animals and furniture at the residence of the country's prime minister, the Dhaka Tribune reported. Protesters also trashed the prime minister's residence. They vandalised a statue of the country's founder Sheikh Mujibur Rahman and set fire to his museum. They also stormed the office of the ruling Awami League party. However, a report in Dhaka Tribune said that students Dhaka intercepted and confiscated looted items, including air conditioners, refrigerators, chairs, tables, and computers, were being carried away by people who went to the Ganabhaban after Sheikh Hasina's resignation as the prime minister. Leaders of the Anti-Discrimination <keyword id="21995958" type="General" weightage="20" keywordseo="student-movement" source="keywords">Student Movement</keyword> have proposed an interim government led by Nobel Laureate Dr Muhammad Yunus, in a bid to address Bangladesh's ongoing challenge, Dhaka Tribune reported. President Mohammed Shahabuddin on Monday night gave his nod to form an interim government to run the country.

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