Breakfast Buffet, Monday, May 18

Singh His Praises: India's Congress Party, headed by economist Manmohan Singh, pulled off a major victory over the weekend. Pundits took it as a mandate for economic reforms, and a surprising win for the ruling party in a country that loves to kick its leaders to the curb after one term. Arvind Subramanian of the Peterson Institute interprets the win through an even broader lens, calling it a vindication of india's "Goldilocks globalization" (not too much foreign investment, and not too little; not too much reliance on exports, and not too little). Everyone agrees it's a good sign for investors in India.

It's All Washington's Fault!: The New York Times Magazine this weekend was all about money, and it's a great read. Highly recommended: this piece by Niall Ferguson, who says that deregulation and financial innovation have gotten a bad rap, and it's really bad regulation (not lack of regulation) that got us into this mess--something to keep in mind in coming months. "The usual response is to introduce a raft of new laws and regulations designed to prevent the crisis from repeating itself...history suggests that many of the new measures will do more harm than good."

Offshoring Moves Up the Value Chain: Those on both sides of the outsourcing debate, get your tongues ready for arguing: the credit crunch is pushing high-skill jobs in the biotech sector eastward, principally to Singapore, where Genentech and other major firms have set up labs and production facilities.

President Lula, Debt Collector: "When China's President Hu Jintao visited Brasilia four years ago he left Brazilians expecting $7 billion of Chinese investment. So far, they've seen $141.6 million or about 2 cents on the dollar." Brazil's President Lula da Silva arrives in Beijing this week to try to gently remind the Chinese of their promise.