G-8: RIP?

Adolf Hitler is confronted with the financial crisis

(please cut-and-paste to see the following video clip -- God curse this 'new and improved' HTML page, I can not embed link like in the old version)

http://www.youtube.com:80/watch?v=bNmcf4Y3lGM

...SR

Re: # 146 true the basic fundementals are still strong. Also during the days of great export-led inflow of cash Indian govt was not profiligate and was restrained in expenditure (this has always been the situation with the Indian Govt (both pre and post '47)). India (as a state) has always been a slow and steady spender...The Sensex is a mixed index (from my pov) it has a volatile compoenet with FIIs and a non-volatile component whic is local. If you subtract the volatile component youwill se that the growth in the index is there and almost on track (according to some brokers and analysts in Mumbai).
Wait and see till then lets all suck a few egss (T)

Anil # 139,
The only way India could retain 8% growth, is by spending high on infrastructure. It could be a good time, because cost of raw materials is low. However, the govt is already running a hugh fiscal deficit, so has little room to spend.

anil#139:

Manmohan Singh's prediction is feasible, although the politician in him may have exaggerated a bit because of the impending elections. As nkg has rightly pointed out, the effect of the global crisis on India is significant but not crucial and affects only those sectors that are heavily dependant upon exports, such as diamonds and IT (although Infosys, etc. seem to continue hiring as scheduled, so they must know what they are doing). India's stock market has been brutally savaged (I know it to my personal loss) but that is a reflection mostly of the FIIs pulling their funds out and not a measure of the underlying economy. India's financial institutions are strong, with the exception of ICICI which is now paying for its aggressive growth of previous years. India still needs huge investments in infrastructure and agriculture and the loss of exports should be compensated to some extent by the much lower costs of imports of oil and commodities.

Re: # 139
Kal...
"and Saudi's don't want to put barrel for anything short of COD (Cash On Delivery)...."
If you look from the humanitarian angle, Saudi Arabia, the beacon of light of Ummah, is realy pushing Pakistan to pure submission. If US Govt. stops funding GWOT, arab money will keep on pouring through non Govt. channels and Pakistan will be pure Islamic country...I would not have disliked that, if they would have accomodates indian moslas as well and keep the focus on western countries. Jihad against West, for drawing cartoons; the most henious crime ever committed on the face of the planet....jihad against west for eating pork....and enjoy 72 arab virgins in afterlife...

nkg, may be I am the only one who thinks so but 'softening borders' is no different than handing over Kashmir to Pakistanis.

It may actually be much worse than even that. Not sure how it is all supposed to work, but depending upon how they are managed, 'soft borders' could turn out to be disastrous for India in the next twenty years or so.

anil ji, what I see happening in India is a bit of pull back, not exactly to the old days, but more caution against abandoning all controls, or following the mythical 'Western model' to the letter - which is a good thing.

There will be more focus on making sure Indians do things 'their way.' That will mean some slow down. I am not sure 8% is doable. But Indian economy will not tank.

Re: # 139
Kaal...
"Catch 22 for India is that it cannot remain focused when Pakistan is unstable..."
Pakistan is now international headache...India should not bother much about it. India should try to soften border in kashmir to move goods from India (automobile, electrical equipments) and Pakistani made handcrafts to India....that should be the best CBM....

Re: # 139

"India can transition through this economic crisis..."
Yeh. Crude price slumped to US$55. US$ is INR50....Lot of positive turns...Inflation dropped to 8%
Only the stock exchange is nosediving....let it be...
Citibank etc.. are retrenching people from its paylist...SBI is recruiting 40000 employess (good old days of PUC) and expanding their branches in remote areas....Garment sector is recovering little bit....let us see, whether internal market can boost indian economy...

Pakistan is doing good....
http://www.dawn.com/2008/11/21/top5.htm

Kaal:

In times like these, everyone is interested in securing their musical chair. Chinese comment was the most indicative, which said that if it can keep "its economy stable" then the world economies will benefit. This was in response to the questions that would China step up to stabilize the Global economies.

If G7 must become G20 so be it. G20 as a platform could also signal more lip service to "Things Global", and in reality more consolidation of Individual economies. This is more likely scenario. Zardari's dashes to "Pakistan's Friends", and what they yielded is a very clear indication that China does not want to put a penny in the Pakistani bowl, and Saudi's don't want to put barrel for anything short of COD (Cash On Delivery).

Question I am interested in can you believe Man Mohan Singh's statement that India can transition through this economic crisis, and have 8% growth in GDP. May be Dost Sahib and others can discuss it. India needs this growth rate to bring its citizens out of poverty and in to the middle class faster than its GDP can grow.

Catch 22 for India is that it cannot remain focused when Pakistan is unstable, and Pakistan's questionable ability to get out of all the mess it has inside and outside, and remain stable. Kashmir is not an issue in Pakistani mess, but many old hand Pakistanis may not let Zardari to work faster than Musharaff on Kashmiri issue.

Chalta, NIC has the following report which seems unnecessarily gloomy in its tone. But it's conclusions are pretty straightforward:

"The US will remain the single most important actor but will be less dominant."

http://news.bbc.co.uk/2/hi/americas/7741049.stm

Re: # 133
chalta...
"On a global basis, if you look at large emerging markets like India and china, domestic flows constitute the bulk of the investments in the capital markets...."
not that simple..BSE index dipped from 21000 to 8000 within 1.5 years. The ground situation in India is not (GDP PPP) that bad....who are responsible for such slump? Institutionalised FIIs....

Re: # 116
bull...
"invariably, i almost, always see the north indians float towards pakistanis, more than they float towards south indias.......they find punjabi and sindhi pakistanis, easier to communicate and relate to, then south indians......"
unless until you bring the arabic moon god and his/her preferred caveman....

Re: # 114
bull...
"...yes, true, which is why i stated, "...i have also used the same term for africa, i.e. africans......because african nations, much like south asian nations, are also artificially created nations, by colonists......"
There was no single country as india before Brits captured power....north india was (including pre-islamic IVC) was part of union of 16 countries....during nandas,guptas and mauryas most of places north of vindhyas were under same empire....buddhist and jain texts described each of them and various dynasties in these countries....

so the stone engraving of pashupatinath, dancing girl wearing bangles etc...similar to temple architecture of tamilnadu and karnataka proves nothing!!!!!

Chalta, US' primary is nowhere threatened, not anytime soon. Probably DM was suggesting that G-20 is a recognition of the incresing need, in order to solve global problems, to bring on board, in some fashion, a larger number of countries than just the original 8.