The Neighbourhood/World
Pakistani media hails Kayani for his stand on Siachen - Sameer Arshad, ToI
The Pakistani media has hailed army chief Ashfaq Parvez Kayani for seeking "peaceful coexistence with India'', defence budget cut, besides withdrawal of troops from Siachen, with one newspaper describing it as "revolutionary'' and "pertinent'' to Pakistan's interests. The Express Tribune said Kayani needs to be saluted for backing peace with India and noted that his call "is no small matter'' as the army has traditionally been regarded as dominated by hawks, unwilling to be friendly with India. 

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Onset of woes casts pall over Obama’s policy aspirations - Peter Baker, NYT
Obama's dangerous new narrative - Alexander Burns & John F Harris, Politico
The quiet new Chinese transition - M Rafeeque Ahmed, Business Line
Do not be friends with India, Hizbul chief warns Nawaz Sharif - Muzamil Jaleel, IE
Trio of troubles threatening Obama's second term - Hindustan Times
Three men in a simmering archipelago - RK Radhakrishnan, Hindu
Wall Street is back - Economist
In the Syrian arena - Rajendra Abhyankar, Indian Express
Pakistan: Pride trumps panic - Khaled Ahmed, Indian Express
A Dhaka dilemma - Seema Guha, Outlook India
Intrusion and the farce of being friends - Ashok K Mehta, Pioneer
Challenges for Nawaz Sharif - Vivek Katju, Times of India
Could offensive IAF use in ’62 have reversed history? - Ashok Parthasarathi & Praful Bakshi, Asian Age
How India dealt with Iran without treading on US toes - Sandeep Dikshit, Hindu
India preparing for a possible two-front war with Pakistan, China: Blue Book - IE
Sharif vs Army, Round 3 - Declan Walsh, New York Times
Nawaz Sharif is back - Ajai Shukla, Business Standard
Easterly winds - Shankar Roychowdhury, Deccan Chronicle
Fast fashion: Reflections on Bangladesh - Chidanand Rajghatta, Times of India
Musharraf’s unwitting gift to Pakistan - Dileep Padgaonkar, Times of India
Political violence in Bangladesh - Economist
Second chance to mend ties - Anita Joshua, Hindu
Soldiers and jihadis in Pakistan - Tufail Ahmad, NewIndianExpress
A Herculean challenge ahead for Nawaz Sharif - Manoj Joshi, India Today
Stop being a pain in the neck to Indian students - Hasan Suroor, Hindu
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Verbatim

There was for years an old "social contract" between politicians and business. This provided for complex rules and regulations that made it impossible to do business honestly in many fields. But it was possible to do business dishonestly, through pay-offs . Some called this "efficient corruption" : politicians took money and delivered clearances. However, the anti-corruption mood of the courts, and new fears of getting caught (like Pawan Bansal) have ended "efficient corruption" . Politicians may still take money but not deliver on clearances , what some call "inefficient corruption" that freezes investment and growth. The old social contract has broken down.
Swaminathan SA Aiyar
 

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