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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk.  So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Japan’s Iron Lady

Sanae Takaichi’s rise as Japan’s first female Prime Minister shatters a glass ceiling but cements the conservative foundations beneath it.

In a country where patriarchal tradition has long dictated the boundaries of public life, Sanae Takaichi’s ascent to Japan’s premiership is a moment of striking symbolism. For young Japanese women, the image of a woman leading the nation evokes the tantalising promise of change. Yet for all its historic resonance, her victory also underscores a paradox: Japan’s first female Prime Minister may be among its most conservative leaders in decades.


Born in Nara and known for her no-nonsense demeanour, Takaichi, 64, has long modelled herself after Margaret Thatcher. Like her British idol, she relishes toughness, discipline and ideological clarity. Her campaign speeches bristled with language about “duty” and “hard work,” culminating in her declaration to parliament: “I will work, work, work.” To her admirers, she embodies the resilience Japan needs in an era of sluggish growth and demographic decline. To her critics, she personifies a leader who, whilst breaking the ultimate glass ceiling, has only reinforced the walls beneath it.


Her rise comes at a time when the ruling Liberal Democratic Party (LDP), which has governed Japan almost uninterrupted since 1955, faces internal disarray and public distrust. The party’s old guard, steeped in factionalism and money politics, was battered by the recent slush-fund scandal that forced Shigeru Ishiba to resign. The departure of Komeito, the LDP’s centrist coalition partner, further weakened the government. Takaichi’s election, backed by the right-wing base and bolstered by an alliance with the populist Japan Innovation Party (JIP), was thus both a necessity and a gamble. It was meant to consolidate the conservative bloc and prevent further drift toward Japan’s nationalist fringe.


Fierce Nationalist

The parallels with Thatcherism extend beyond tone. Like Thatcher, Takaichi champions small government, fiscal discipline and a muscular nationalism. She has argued for revising Japan’s pacifist constitution, originally drafted under American occupation, to grant the Self-Defence Forces the explicit right to act militarily abroad. In this, she reflects the LDP’s long-standing ambition to ‘normalise’ Japan’s defence posture amid an increasingly assertive China and an unpredictable North Korea.


Since the Meiji era, the Japanese state has fused nationalism with patriarchal family norms, encapsulated in the ideal of ‘ryōsai kenbo’— the ‘good wife, wise mother.’ Post-war reforms under American occupation formally granted women the right to vote and work, but corporate culture and social expectations kept most women tethered to the domestic sphere. Even today, women make up less than 15 percent of managerial positions and only around 10 percent of parliamentarians. The LDP, dominated by elderly male politicians, has done little to change this. Takaichi’s rise, paradoxically, was enabled not by a feminist wave but by the party’s internal arithmetic and the vacuum of credible conservative leadership.


Her premiership also speaks to broader geopolitical anxieties. Japan faces an increasingly hostile neighbourhood: Chinese naval incursions around the Senkaku Islands have become routine; North Korea continues to fire missiles over the Sea of Japan; and America’s security commitment, though reaffirmed under Joe Biden, remains shadowed by uncertainty. At home, an ageing electorate and stagnant wages fuel discontent. Takaichi’s call to “rebuild Japan through hard work” taps into nostalgia for the post-war decades when Japan’s industriousness powered its rise as an economic superpower. But such rhetoric may fall flat in a society where overwork has already taken a toll.


Internationally, Takaichi’s ascent could mark a rightward shift in Japan’s diplomacy. She is likely to maintain close ties with Washington but take a firmer line on Taiwan, aligning Japan more closely with the United States and Australia in their Indo-Pacific security agenda. Her scepticism toward China’s economic influence may lead to a cooling of relations that are already strained by territorial disputes and trade frictions. Domestically, however, her minority government will have to navigate a fractious Diet, where the LDP-JIP alliance remains two seats short of a majority.


In many ways, Takaichi’s leadership reflects Japan’s uneasy relationship with modernity: a society eager for renewal but wary of altering its foundations. Like Thatcher, she may prove transformative, but whether she transforms her country’s gender order or merely reinforces it remains to be seen. 


In the end, Japan’s first “Iron Lady” offers both inspiration and caution. She shatters a barrier but embodies the conservatism that built it. Her tenure will test not just her stamina but Japan’s ability to reconcile its reverence for tradition with the imperatives of change.


(The author is a researcher and expert in foreign affairs. Views personal.)

 

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