Murray Rothbard on the Indo-Pakistani war of 1971

Of all the recent wars, none has come closer – though not completely so – to satisfying these three criteria for a “just war” than the Indian war of late 1971 for the liberation of Bangla Desh.  The government of Pakistan had been created as a last terrible legacy of Imperial Britain to the Indian subcontinent.  In particular, the nation of Pakistan consisted of imperial rule by the Punjabis of West Pakistan over the more numerous and productive Bengalis of East Pakistan (and also over the Pathans of the North-West Frontier).  The Bengalis had long been yearning for independence from their imperial oppressors; in early 1971, parliament was suspended as a result of Bengali victory in the elections; from then on, Punjabi troops systematically slaughtered the civilian Bengal population.  Indian entry in the conflict aided the popular Bengali resistance forces of the Mukhti Bahini.  While taxes and conscription were, of course, involved, the Indian armies did not use their weapons against Bengali civilians; on the contrary, here was a genuine revolutionary war on the Bengali public against the Punjabi occupying state.  Only Punjabi soldiers were on the receiving end of Indian bullets.

~ Murray Rothbard, For a New Liberty, "War and Foreign Policy," p. 336

Brendan Ahern on how global investors are underweight Chinese equties

Bank of America does a global portfolio manager survey and they say to mutual fund managers, "what are your favorite trades?"  The #1 trade was [long] Mag 7 and the #2 trade was short China.  And so a lot of that short selling was in Hong Kong and ADRs.  So offshore China...  So those investors who were short China just got run over...  But more importantly, why you're seeing this reaction is that investors globally have been very underweight China.  China's economy is $18 trillion GDP, but India at $3.5 trillion actually was a bigger part of global indices...  It makes no sense, but it just shows there's this incredible underweight Chinese equities globally.  Some of that money that came out of China went into U.S. tech or India or Japan and what you're seeing is a re-rating back in...  That supertanker of underweight doesn't turn on a dime.

~ Brendan Ahern, "Don't Believe the China Boogeyman Narrative," Stansberry Investor Hour, October 7, 2024