

Scandal in the wind: Adani’s indictment could hurt Modi
28 snips Nov 25, 2024
Jeremy Page, Asia diplomatic editor for The Economist, and Don Wineland, China business and finance editor, dive into high-stakes political and economic issues. They discuss the repercussions of bribery charges against Gautam Adani and how it could shake Narendra Modi's government. The duo also unpacks China's empty housing crisis, highlighting the massive overbuilding and the urgent need for policy reform. Additionally, they touch on the divisive influence of Jordan Peterson and his newfound cultural significance.
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Maharashtra Election Win Overshadowed by Scandal
- Narendra Modi's BJP party won a landslide election in Maharashtra.
- This victory, however, is overshadowed by a scandal involving the Adani Group.
Adani's Influence in India
- Gautam Adani, India's second-richest man, is closely tied to Modi's India.
- His business empire spans from ports and airports to energy and defense.
Bribery Allegations Against Adani Group
- The Adani Group faces US federal accusations of over $250 million in bribes to Indian officials for solar energy contracts.
- This is the second fraud accusation against Adani in two years.