THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Monday, December 31, 2001

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Opinion

Advertising & Marketing
All about tag lines
WHILE Indian advertising agencies undertake tag-lining jobs as their part of their duties, in the US experts do these. Some of them even hold workshops for prospective copywriters interested in learning the art. Making a tag-line calls for greater creati ve input than the wording of advertisements. Big US companies do not grudge earmarking sizeable sums towards tag-line making.

Economy
Vision 2020 -- India in 2002: Que sera sera?
WILL I be rich? Will I be pretty? Will I have rainbows day after day? According to the famous song, the answer is "Que sera, sera! What will be, will be!' Not quite, say modern theorists, at least in the case of nations at large. According to them, a nat ion's prosperity depends mainly on its political culture, and not on its material assets, nor on its human resource, not even on its capital assets.

Fear on the food front
THE stockpile of wheat and rice in Food Corporation of India (FCI) godowns seems to be only rising, touching 60.4 million tonnes -- a 40 per cent jump over last year's 42.8 million tonnes.

Argentina: A case of reckless rectitude
OVER the last few months, the"" impending collapse of Argentina has hogged the attention of global financial markets. It is a pity that this has happened in spite of Argentina adopting almost all the advice given to it by financial pundits from the US. A s early as 1991, Argentina's Economy Minister, Mr Domingo Cavallo, established a Currency Board based on the advice of Prof Steve Hanka of Johns Hopkins University, Baltimore. He had set the parity of the Argentina currency, the peso, at equality to the US dollar. The Currency Board did work for a while and calmed down the higher inflation. But its long-term effects were not beneficial.

Editorial
Year of the bear
INVESTORS HAVE HAD two punishing years in a row. Their paper wealth has more than halved during the period. In some cases, it has simply evaporated. The Sensex had topped 6,150 in February 2000 in the tech mania. Basic lessons in valuations took a back s eat till the bubble burst. This year began on a somewhat high note but the bears were not very far off.

Foreign Trade
Uruguay, Doha, what next?
THE World Trade Organisation's preamble stresses on the freedom of trade across the borders to achieve resource allocation under competition and, thus, free trade is supposed to maximise the economic welfare of all countries.

Miscellaneous
Reshaping human nature in Beijing
MAYOR Liu Qi of Beijing has decided to reshape human behaviour on a massive scale. This is no small effort, no modest assignment, by any stretch of imagination, when considering the sheer enormity of the task. It involves the infusion of change in the fa ce of the immense force of tradition and habit across a vast metropolis and then an enormous country. He had many choices. To accomplish it in parts, to do it by halves, and even to not do it at all.

Politics


`Chandrika's regime degenerated into an ordinary corrupt regime' -- Professor Jayadeva Uyangoda, Political Science, University of Colombo
THE ruling classes' ``insensitivity to human suffering', failure to institutionalise the peace process by involving all political parties, and hardened attitudes on both sides have taken Sri Lanka to the brink. Talking to Business Line, Prof Jayadeva Uya ngoda, who teaches political science at the University of Colombo, says that with the change in governance there is hope, but the challenges are great and the solutions very, very difficult.


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