Billionaire Gautam Adani said China will feel increasingly isolated as rising nationalism, shifts in supply chains and technology curbs threaten the world’s second-biggest economy.
China’s Belt and Road Initiative has run into resistance in many countries, challenging Beijing’s global ambitions, the world’s third-richest man told a conference in Singapore on Tuesday. The property market meltdown there has drawn comparisons with what happened to Japan during the “lost decade” of the 1990s, he added.
“While I expect all these economies will readjust over time — and bounce back — the friction to the bounce-back looks far harder this time,” he said.
Adani’s comments on China and the global economy come at a time when the 60-year-old ports-to-power tycoon is seeking to raise his international profile as he added more than $58 billion to his personal fortune this year. Central banks are doing the “unthinkable” by raising interest rates so much that they can crash an economy into recession, he said.
He also hit back at criticism over India’s plans to increase the amount of power it generates from dirty fossil fuel as the tycoon funds and straddles both sides of the green-energy divide.
“Critics would have us instantly get rid of all fossil fuel sources that India needs to serve large population,” he said. “This would not work for India.”
Adani’s conglomerate is marshaling its resources into renewables and the billionaire reiterated his plans to invest $70 billion for transition. At the same time, Adani has faced pressure from environmental groups who claim his energy ambitions also include the financing of new coal mines and fossil-fuel powered plants.
The tycoon’s comments mirror those of Prime Minister Narendra Modi, who has blamed climate change on historic emissions from the developed world and made it his mission to provide electricity to every Indian home, for which he needs cheap fuel.
Despite being the world’s third-biggest emitter of greenhouse gases, India will add nearly 56 gigawatts of coal power capacity unless there’s a substantial drop in the cost of storing electricity as the government prioritizes economic growth and reliable electricity supply, Power Minister Raj Kumar Singh told Bloomberg News this month.
India is also planning major investments in renewable energy, Singh said. India, which saw power demand surge this summer as temperatures rose to a record, is also delaying shutting older coal plants and increasing mining output.
‘Dark Parle-G’ memes are going viral on social media. (Photo: Adarsh Gupta/X)
‘Dark Parle-G’ memes are going viral on social media. However, there is no information regarding ‘Dark Parle-G’ on the social media accounts of Parle Products and neither has the company reacted to the viral picture of the biscuit packet.
Amid the grand Ambani bash over the weekend, and Instagram and Facebook facing a global outage on March 5, social media users kept themselves busy over a picture of Parle-G biscuits. Make no mistake, because this isn’t the original packet that has sent the internet into overdrive, but a viral picture of ‘Dark Parle-G’ biscuits.
To begin with, this packet of ‘Dark Parle-G’, in all probability, could be AI-generated because Parle has not confirmed the authenticity of the product. There is no information regarding ‘Dark Parle-G’ on the social media accounts of Parle Products and neither has the company reacted to the viral picture.
PM Modi Bihar Visit Live: पीएम मोदी के मंच पर केवल इन नेताओं को जगह, औरंगाबाद में चप्पे-चप्पे पर पुलिस की तैनाती
प्रधानमंत्री नरेंद्र मोदी आज बिहार के बेगूसराय और औरंगाबाद का दौरा करेंगे
पीएम मोदी बिहार के लोगों को 1.64 लाख करोड़ की सौगात देंगे
Pm Narendra Modi Bihar Speech: लोकसभा चुनाव से पहले प्रधानमंत्री नरेंद्र मोदी आज बिहार के औरंगाबाद और बेगूसराय के दौरे पर पहुंचने वाले हैं। पीएम मोदी के आगमन को लेकर दोनों जिलों में बीजेपी कार्यकर्ताओं से लेकर आम जनों में जबरदस्त उत्साह है। पीएम मोदी आज बिहार के लोगों को 1.64 लाख करोड़ से अधिक की सौगात देंगे। पीएम मोदी बरौनी यूरिया प्लांट का भी उद्घाटन करेंगे
PM Modi Begusarai Visit Live: पीएम मोदी बेगूसराय में रेलवे की विभिन्न योजनाओं की सौगात देंगे। इसके अलावा आइओसीएल, भारत पेट्रोलियम व अन्य केंद्रीय मंत्रालयों की योजनाओं की सौगात यहां से बिहारवासियों को देंगे। जानकारी के मुताबिक, बेगूसराय से लॉन्च होने वाली राष्ट्रव्यापी योजनाओं में से 29 हजार करोड़ की परियोजना बिहार के लिए होगी।
Jitan Ram Manjhi has said he repaid a favour to Chief Minister Nitish Kumar by contributing four crucial votes for him in the Bihar Assembly.
Bihar’s former Chief Minister and Hindustani Awam Morcha (HAM) chief Jitan Ram Manjhi on Friday said he repaid a favour to Chief Minister Nitish Kumar by extending him his support to form a government with the NDA in Bihar.
Speaking at an event, Jitan Ram Manjhi recalled the Chief Minister secured a total of 125 votes in the Bihar Assembly. He asserted he contributed to four votes for Kumar.