On August 26, a glacier broke away above the Nepal-Tibet border, leaving Nepal with a $4-5 bn reconstruction bill, close to a 10th of its economy. India doesn't need a glacier to face the same problem.
Until recently, a deficient monsoon thinned the harvest and lifted food prices for a season. Today, a week of unseasonal rain takes out infrastructure. A week of extreme heat removes working hours from every factory floor. What was once a sectoral shock has become a general one, transmitted through prices, through power system planning and, in time, through public finances.
