My dilemma this morning is whether I should be concerned about the internal politics of the United States of America, as most of my colleagues and financial market participants appear to be! In past 20yrs, we have seen George Bush Jr. (Republican, 8yrs), Barak Obama (Democrat, 8yrs) and Donald Trump (Republican, 4yrs) as presidents of United States. In these 20years, India witnessed Atal Bihari Vajpayee (NDA, 3.5yrs), Manmohan Singh (UPA, 10yrs) and Narendra Modi (BJP, 6.5yrs) as India’s prime minister.
Evidently, a Socialist India (UPA) has lived well with
Republican US (Bush); and a free economy supporter India (BJP) has lived well
with Democrat (Obama) US. In past two decades, we have achieved progress in our
civil nuclear program and we have been able to materially enhance our
relationship with key US allies like Japan, Australia, UAE, Saudi Arab, and
France; while maintain our strong relationship with Russia and Iran. The
relationship with China has been volatile all through these years; though US
has supported us in the rough patches of Sino-India relationship.
The issue of VISA, especially H1B VISA, has frequently made news
in these past two decades. The volume and profitability from US business of our
IT companies has grown manifold in these two decades, despite all this noise.
The issue of FDA being particularly strict on Indian pharmaceutical exporters
to US has also made to the headlines frequently. The US business of our
pharmaceutical industry has also grown multifold in these two decades. The
number of USFDA approved facilities in India has grown exponentially in past
two decades.
Of course we can debate that the trade could have been much higher; or we did not do as well as we could have due to VISA restrictions, FDA actions etc. But, then we will have to answer some tough questions like lack of ethics and discipline at some of our pharmaceutical manufacturers, protectionist policies of Indian government, misuse of H1B and L1 VISA by some of Indian IT services companies, etc. It is therefore better to go with the empirical evidence rather than dwelling upon some hypothetical outcomes. And the empirical evidence is that Indo-US trade and strategic relations have been widening and deepening consistently. George Bush had famously expressed his “respect” for Atal Bihari Vajpayee, and “Love” for Dr. Manmohan Singh. “Barak” visited India twice (most by any US president) and expressed his reverence to Gandhi, admiration for Prime Minister Modi and commitment to relationship with India. Trump has gone much ahead in showing bromance with Prime Minister Modi and expressing love for “Hindu”. Biden has chosen Kamala Harris as his running mate and has promised favorable H1B regime for Indian IT companies. Regardless of who gets to live in White House for next four years, 2020 election may end up with highest number of Indian American elected as federal and state law makers.
I feel, worrying about the outcome of US elections may be out of habit of
worrying too much. I believe, in broader context, the question “Trump” or
“Biden” may not be any different from “Suicide” or “Murder” (of SSR).
This phony industry can only be sustained if the costs of its services and products are paid for by others - and these health care costs are already a major drag on productivity and competitiveness for all Americans (costing lots of jobs). Obama was told by the health care industry that it would take at least two years to try to rein in the fraud in this system before a national health care system could even have a chance - and that is just the blatant fraud - nobody is looking into how deep the rabbit hole actually goes. Purepharmacenter
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