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International Currency #2: China's Steps

How is China positioning itself to become the new reserve/international currency? China, writes Way Yuhl, has learned from and copied America.   Remember the New Silk Road project (aka Belt and Road), whereby China “financed roads, railways, ports, power plants, and telecommunications networks” across Asia, Africa and Latin America? Well, that’s not entirely about profits from interest on the loans. It is also how China has built financial leverage with much of the developing world. If their infrastructure projects all rely on China, well, they are likely to align/agree with China on economic and financial matters. On a side note, Yuhl mentions the Sri Lanka port that was handed over to China for 99 years when Sri Lanka couldn’t repay. While India’s concern was Chinese presence so close to our borders/waters, the West cited it as an example of Chinese predatory lending ( zamindar style). Guess what? “America used the same mechanism after WWI, converting Britain’s debt depe...
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Weird Debate on Precision Bombing

While reading Malcolm Gladwell’s book, I was amused by the discussion the US and Britain had as the tide of war started to turn in favour of the Allies. The Americans offered their bombers to assist the British air raids on Germany. One section of the US air force aspired for precision bombing – bombing precise targets that would yield the maximum benefits, rather than the prevalent indiscriminate reduce-everything-t0-rubble strategy. That section of the US air force was called the Bomber Mafia , the title of the book.   Illogical #1 : While this may sound great, both operationally and from a moral standpoint, the tech to do precision bombing did not exist! Equally relevant was that the if you intended to even try precision bombing, you needed to be able to see the target. Which meant you had to fly during the day (because radar tech was nothing like what it is today). That meant the enemy could see you and shoot at you that much more easily. All of this is why the British were...
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International Currency #1: How the Dollar Took Over

How does an international currency get displaced? Does the contender need to do pre-work to take over when the transition point arrives? Way Yuhl looks at how the US dollar took over from the British pound as the international currency. As the colonial superpower, Britain ruled. The pound was the international reserve currency, and British banks handled most global commerce. “Deals that had nothing to do with Britain ran through British institutions.”   The popular belief is that the US dollar replaced the pound due to the second World War, the complete destruction of Europe and Britain, and the beginning of the end of the British empire. True, but that was just the tipping point. In the decades leading to that point, America had been preparing…   From the early 1900’s onwards, America progressively overtook Britain as the world’s largest industrial economy. It produced more steel than Britain and Germany combined. But that alone was never going to be enough to beco...
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School Kid Level Blunder

My 14 yo daughter is studying acids and bases in chemistry this year. Which is why I got a refresher that acids release hydrogen ions (H + ) when dissolved in water; and bases either accept those hydrogen ions (H + ) or release hydroxide ions (OH - ) when dissolved in water. Very elementary part of chemistry. ~~   Linus Pauling. In 1952, he hadn’t yet won a Nobel but was universally acknowledged as one of the world’s greatest chemists. At the time, the structure of the to-be-famous DNA molecule was unknown. Many teams were trying to figure it, including Watson and Crick. As also was Pauling – DNA was a molecule, so who better than a chemist to attack the problem? By the end of 1952, Pauling thought he had figured it, and communicated as much to his son, Peter, who was at Cambridge, same as Watson and Crick.   DNA’s structure was a rivalry – the British didn’t want to lose to the Americans. Peter mentions what his British colleagues were saying: “You know how childr...
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Language and Gender

As a kid, I struggled a lot with the assignment of gender to non-living things in Hindi. Neither of the other languages I knew (Tamil and English) have that concept, and it always felt weird why किताब (book) should have any gender. Even worse, there didn’t seem to be any logic to the assignment of gender.   English is an outlier in not assigning genders, says Guy Deutscher in Through the Language Glass . Most European languages (French, German) assign genders. On the other hand, several languages don’t even have words for ‘he’ and ‘she’! Like Turkish, Finnish, Hungarian, Indonesian, Vietnamese. Worst of all (confirming my childhood grouse on Hindi), most languages that assign genders to non-living objects don’t follow any pattern.   If a language loses gender words (he/she/it), well, it depends on which word(s) was lost. Spanish, French and Italian lost the “it” word (for non-living things) and so everything had to be male or female. Losing a gender word added to ...
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Single Party Dominance #2: Dangers

What are the dangers if a single party dominates the political landscape for too long? Like the Congress did or the BJP is doing? Raghu S Jaitley analyzes .   One , he says, such extended dominance can change the “psychology of the electorate itself”! He elaborates: “Consider a voter born in 1992. That person would have been too young (under 18) to vote in the 2009 general election, the last election won by the Congress-led UPA. By 2029, that voter will be 37 years old. For their entire adult political life, for anyone below the age of 37 in 2028, the BJP would have occupied the political mindspace with continued narrative dominance. To such voters, the opposition begins appearing abnormal rather than an alternative.” It reminded me of the question as to how Rome, the Republic was transformed into an emperor-based system. The answer was that Julius Caeser’s successor, Augustus Caeser won the battle for succession fairly young and thus ruled for several decades. By the time ...
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AI in Real World, so Dickens-Like

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Like many companies, Meta (formerly known as Facebook) decided to use AI as its customer support chatbot (instead of humans). It resulted in a ridiculously easy way to hack Instagram accounts (Meta/Facebook owns Instagram).   So easy that even a layman can understand it (and be shocked). Hackers who wanted to hack anyone’s Insta account would initiate a chat with the AI support bot and ask for the email ID associated with the account be updated. The AI would do it, no questions asked! Then the hacker would initiate a password reset request on the target account. An OTP-like verification code would be sent to the associated email ID (But remember, this is now the mail ID that the hacker had changed via the chat bot). He’d enter the verification code, and bingo! Password reset and the Insta account had been hacked. “The attack did not rely on sophisticated malware, zero-day exploits or technical vulnerabilities in Instagram itself. Instead, attackers manipulated the AI system t...
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