Thought for the day
"How did it get so late so soon? Its night before its
afternoon. December is here before its June. My goodness how the time has
flown. How did it get so late so soon?"
-
Dr. Seuss (American,1904-1991)
Word for the day
Rapacious (adj)
Given to plunder;
Seizing by force; Grasping; Greedy.
(Source: Dictionary.com)
Teaser for the day
Should Congress Party make up with Anna by agreeing to his
agenda?
What is there for it to lose?
Top right corner
The recent India trip of US president Barack Obama may or may
not be important from economic standpoint; but it may most likely mark a
watershed in India's foreign policy and could have far reaching implications
for global strategic balance.
The expert may differ, but I clearly saw an eagerness on Indian
side to cross over to US camp or if I may use cold war jargon from Soviet Bloc
to NATO Bloc. In the process, India could have given formal burial to the NAM
movement it co-founded six decades ago.
In words of Geeta Anand (WSJ) "India finally came out this
week after years in the closet, declaring itself a firm friend of America.
The country’s Cold War commitment to non-alignment died long ago
as the guiding foreign-policy principle for the world’s second-most-populous
nation. But its obituary wasn’t written until this week."
The widespread economic cooperation that developed seen post
Lehman collapse is no longer visible. EU and US monetary policies are diverging
far apart.
If we juxtapose this event to the series of events that have
taken place in past few months, e.g., isolation of Russia and Pakistan by western
countries, China coming closer to Russia by extending financial help and
escalating tension with Japan and South Korea, US re-establishing relations
with Cuba, and OPEC virtually disintegrating, the world is heading towards
polarization, not seen since end of cold war.
In my view, it is for Germany to decide whether it will be a
bi-polar or a tri-polar world.
Insofar as India is concerned, I believe that in the emerging
global scenario, her economic and strategic interest are better aligned with US
and its allies. In past 'pseudo neutrality' and tactical alignment with Russia
and has not helped much.
It would be interesting to watch, how much integration of
India's economic and strategic interests the USA accepts and allows. A deeper
cooperation would allow India (a) to overcome its capital & technology
inadequacies; and (b) greater access to developed markets in west.
The downside could be elevated threat perception at borders on
all the side. (Sri Lanka is showing little hesitation in standing next to
China). It would also be challenging to bring around the sizable population
that still harbors anti-USA sentiments.
However, since the government has already decided to move ahead
whole heartedly, it is for USA to reciprocate with some tangibles, before we
build some investment themes on these developments.
Today, there is no hurry and no worry. If I am thinking in right
direction, we will have enough time and space to move on the top right corner
of the Sensex graph.
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