According to the Bank for International Settlements, the U.S. dollar credit to non-bank borrowers in developing countries reached $3.7 trillion at the end of last year.
Mamdani’s politics feels unusual compared to India’s current climate. He unapologetically foregrounds Muslim identity at a time when doing so in India invites scrutiny.
While the move could free up grid capacity struggling to keep up with rapid renewable rollout, it would be a major setback for green ambitions. India aims to double clean power capacity to 500 gigawatts by the end of the decade.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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