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Manufacturing’s Two-Speed Reality: Why Global Factories Are Flat While AI Surges Ahead
The global manufacturing landscape in 2025 is marked by an unusual contradiction: factories across major economies remain subdued, while investment in technology, AI hardware, and critical infrastructure is booming. This divergence is not merely cyclical—it represents a structural realignment of industrial priorities that began after the 2008 financial crisis and…
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The US Economy in 2025: A Surge, a Slowdown, and a Strategic Crossroads
The United States entered late-2025 on a surprising note: GDP growth accelerated to 4.3% (annualized) in Q3, the strongest pace in two years and far above market expectations. This resurgence—impressive on the surface—comes after a volatile period marked by policy reversals, tariff redesigns, and recession anxieties. Historically, such late-cycle surges…
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Productivity Without Jobs: The Paradox of Advanced Manufacturing in Developed Economies
Manufacturing in advanced economies has undergone a profound transformation over the last four decades. Once the backbone of mass employment, it has evolved into a capital-, technology-, and knowledge-intensive sector where output growth is increasingly decoupled from job creation. The experience of developed countries demonstrates a critical paradox: manufacturing productivity…
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The Age of the Two-Speed Industrial Economy
Global industry is entering a structural phase shift rather than a cyclical slowdown. What we are witnessing today is not simply uneven recovery across sectors, but the emergence of a two-speed industrial economy. On one side sits legacy manufacturing—capital-intensive, energy-hungry, and optimized for scale in a world that no longer…
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India’s Microfinance Moment: From Financial Inclusion to Financial Fragility
Microfinance in India was born with moral ambition. It promised to democratise credit, liberate households from moneylenders, and convert the poor into micro-entrepreneurs. In its early decades, the narrative carried the glow of social transformation—small loans, collective responsibility, and women-centric empowerment were presented as antidotes to exclusionary banking. Yet, by…