India economy; China’s three child policy; Daimler-Nokia dispute
In today’s episode, we will revisit India’s COVID situation as the country sees a slowdown in industrial activity, discuss why China’s three child policy is inviting criticism, and discuss the Daimler-Nokia row after the former agreed to pay royalties to the Finnish firm.
- India, which continues to see full to partial lockdowns in most parts, saw factory activity fall to 50.8 in May from 55.5 a month earlier according to the Nikkei Manufacturing Purchasing Managers Index, barely escaping contraction. However, on the good side, the country, which was recently averaging over 400,000 cases every day, saw an over 50% dip in numbers last week. Recent developments suggest that as states start easing COVID restrictive measures India may escape a devastating economic ruin.
- In what can be called a major policy shift, Beijing increased its two-child limit to three to boost a rapidly decreasing birth rate. However, experts believe that the move will not be enough to counter the problem of a rapidly ageing population. Most Chinese living in urban areas have over the last few years, expressed that the higher cost of education through private facilities due to increased competitiveness makes them prefer having not more than one child.
- Carmaker Daimler agreed to buy 3G and 4G licences directly from Nokia ending a years-long legal dispute that threatened production and sales of the company’s cars and trucks. Under the new agreement, Nokia would license mobile telecommunications technology to Daimler and receive payment in return. Nokia said in a statement, “The parties have agreed to settle all pending litigation between Daimler and Nokia, including the complaint by Daimler against Nokia to the European Commission. The terms of the agreement remain confidential as agreed between the parties.”
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