Tuesday, June 1, 2010
Sunday, June 21, 2009
The New World Order
The global financial crisis has left the United States and the European countries in disarray. They no longer command the same attention and influence they once possessed.
These countries have witnessed a meltdown of sorts with regards to their economies, and have faced severe backlashes on the social and political front as a result of the economic and financial crisis.
So where does this financial crisis leave the developing world, and the third world ?
The third world countries...the poorest, are suffering greatly. Not only have they been hit by the crisis indirectly, but they also have been hit very hard directly via losses in remittances and similar incomes from the western developed nations. Also, the crisis has meant that the rich nations are 'cutting costs'(sans the bailouts !) and that means lesser foreign aid for the third world.
What about the big developing economies ? The Indias and Chinas of the world ? Well China is still the fastest growing economy in the world and India the second fastest. However, China is struggling with high levels of unemployment. India on the other hand was the highest employer this year, creating millions of jobs across various sectors.
There is no doubt that India, China, Brazil and Russia together have become the most formidable economic force(via BRIC). But is this a new world order ?
The simple answer is YES. These countries are not just economically strong, but are very powerful militarily and politically. They are becoming more and more vocal at the international level and in some cases are pushing aside USA and EU to hog the limelight.
Be it the WTO or the UN, the World Bank or the IAEA, these countries are being heard like never before. Their importance to the world is growing everyday. No problem in the world can be solved without their participation. These countries are also the largest investors in the developed countries and hence enjoy great leverage on the developed world.
Folks, the world has changed in the last year or so. Move over USA and EU, the BRIC is here !
These countries have witnessed a meltdown of sorts with regards to their economies, and have faced severe backlashes on the social and political front as a result of the economic and financial crisis.
So where does this financial crisis leave the developing world, and the third world ?
The third world countries...the poorest, are suffering greatly. Not only have they been hit by the crisis indirectly, but they also have been hit very hard directly via losses in remittances and similar incomes from the western developed nations. Also, the crisis has meant that the rich nations are 'cutting costs'(sans the bailouts !) and that means lesser foreign aid for the third world.
What about the big developing economies ? The Indias and Chinas of the world ? Well China is still the fastest growing economy in the world and India the second fastest. However, China is struggling with high levels of unemployment. India on the other hand was the highest employer this year, creating millions of jobs across various sectors.
There is no doubt that India, China, Brazil and Russia together have become the most formidable economic force(via BRIC). But is this a new world order ?
The simple answer is YES. These countries are not just economically strong, but are very powerful militarily and politically. They are becoming more and more vocal at the international level and in some cases are pushing aside USA and EU to hog the limelight.
Be it the WTO or the UN, the World Bank or the IAEA, these countries are being heard like never before. Their importance to the world is growing everyday. No problem in the world can be solved without their participation. These countries are also the largest investors in the developed countries and hence enjoy great leverage on the developed world.
Folks, the world has changed in the last year or so. Move over USA and EU, the BRIC is here !
Saturday, June 6, 2009
Tuesday, March 31, 2009
Sunday, August 24, 2008
A problem of plenty.....plenty of people that is....
India has a problem of plenty. And this plenty refers to the massive Indian population. This has put a tremendous strain on the resources and also the infrastructure. It is a well known fact that India's infrastructure is incapable of meeting the population's needs. But what is even more worrying is that not too much has been done to correct this absolute lack of infrastructure and basic facilities. Until something is done about this, the Indian population will remain a problem and not a resource. There has been a lack of political willpower in promoting infrastructural growth. A great percentage of the population is still illiterate. Basic medical facilities are absent in some interior villages in the country. This has lead obviously to a poor standard of health among the rural population. India's problem isn't just about plenty of people, but it is also 'a problem of plenty of problems' ! Most of these problems exist in developing countries. But in the case of India, these problems and concerns are accentuated because of its huge population which is well over a billion. Creating infrastructure is the key. Unless that is done, our buses and trains will be jam-packed, our resources will prove to be insufficient, our streets will be congested and in short everything in this country will come to a grinding halt.
So if there was ever a good time to make amends, it is now. Our governments coffers are overflowing with cash. Its time they spent some of it on things that can turn this 'problem' into a resource.
So if there was ever a good time to make amends, it is now. Our governments coffers are overflowing with cash. Its time they spent some of it on things that can turn this 'problem' into a resource.
Friday, August 22, 2008
India a rich country with poor people..? er...i dont think so..!
Well....for as long as i can remember, i have heard people referring to India as a rich country with poor people. Hmm...i sure hope they came across this year's Forbes list of the world's richest people. Four among the top ten are Indians. The four have a combined net worth of almost 200 billion $ ! They include steel czar L.N.Mittal (Arcellor-Mittal), oligarch Mukesh Ambani (RIL), his younger brother and telecom tycoon Anil Ambani (Reliance ADAG) and real estate baron K.P.Singh (DLF). And for those who didn't know, India has a total of 50 billionaires, the second largest number after the USA.
Although these billionaires constitute just a fraction of the massive Indian population, one cannot deny that Indians from all walks of life have never been richer ! With a booming economy and a bubbling middle class who dares call India a poor country ! Well...poverty is still a problem, but which country doesn't have its share of the poor. And for those who didn't know...India is not a land of beggars and snake charmers ! I don't know where such weird ideas come from !
So next time, refer India in whichever way you want to, but dont even think of calling it a poor country !
Although these billionaires constitute just a fraction of the massive Indian population, one cannot deny that Indians from all walks of life have never been richer ! With a booming economy and a bubbling middle class who dares call India a poor country ! Well...poverty is still a problem, but which country doesn't have its share of the poor. And for those who didn't know...India is not a land of beggars and snake charmers ! I don't know where such weird ideas come from !
So next time, refer India in whichever way you want to, but dont even think of calling it a poor country !
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