NEW DELHI / AP Nearly three years ago, Indian Prime Minister Narendra Modi won a sweeping national election victory with promises to develop the economy and root out corruption. But with a series of key state elections beginning on Saturday, Modi’s popularity — and his surprise currency decree that sparked months of financial uproar — is now being tested. …

  “Mexico braces for a trade war with Washington,” headline in the Financial Times, Jan. 31, 2017. Let’s hope not, because a trade war triggered by President Trump would be an act of pure economic aggression, unjustified either by the United States’ economic and political interests or by Mexico’s behaviour. It would be the economic equivalent of Russia’s seizure of …

  Most Indians are getting a tax break, thanks to Prime Minister Narendra Modi’s botched demonetisation program. A halving of the tax bill for the lower middle class and a 5 percentage point rebate for most companies should go some way to help steady consumption and employment, both of which were hurt by the 8 November ban on high-denomination cash. …