US-based South Africa-born billionaire Elon Musk recently made a $43 billion offer to buy Twitter. Musk may have a gazillion reasons to take over Twitter, including the social media giant's oft-criticized crackdowns on “free speech”. But his plans didn't go far, being shot down by Saudi Arabian Prince Alwaleed Bin Talal, a major Twitter shareholder. Yes, there is irony in that.
AN ANGRY PEOPLE
Thousands of Sri Lankans have protested, venting their anger at President Gotabaya Rajapaksa's (inset) government for not doing enough to avert the economic crisis
Given that Twitter and whataboutery go hand in hand, many people on this social media pointed out that Musk's offer almost equalled Sri Lanka's then $45 billion debt, egging the billionaire on to commit the money to “rescue, repair, rebuild” this island-nation instead. Such are the dreams of liberals in the age of social media wisdom. A new-age entrepreneur even suggested Musk lend the money and rename himself "Ceylon Musk”.
Jokes don't cut it nor do they apply a salve to the blistering disaster that has left Sri Lanka on the verge of insolvency, a situation India was close to in 1991 before the famed IMF intervention and devaluation of the rupee.
Given the vitriol that is reserved for the old India, its factories and public sector undertakings kept it from becoming like its much smaller southern neighbour. India had an industrial output to contribute for the GDP, however low it was due to the over-regulating of private industry. The current projects of the Delhi-Mumbai and Delhi-Kolkata industrial corridors are attempts to undo that damage.
EXTENDING SUPPORT
Finance Minister Nirmala Sitharaman has told the IMF to urgently provide financial assistance to Sri Lanka
Esta historia es de la edición May 02, 2022 de India Legal.
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