No Deal Is Better Than A Bad Deal
The Indian government should seize these opportunities. But it should also realize that a place at the high table also imposes certain responsibilities. The type of grandstanding that commerce minister Kamal Nath revels in at the World Trade Organization talks is very damaging when it comes to helping maintain financial stability, where time is of the essence. The Doha Round can stumble along for years; a financial crisis can wreck the economy in a matter of months and thus needs a quick response.
Another Who Is Excited By The Seat At The High Table
Here is another writer who is very excited by the ‘seat at the high table’ – like our Manubhai. My dear Sir, this seat for the Indian Government has been earned by many poor and the amazing entrepreneurial Indians – amongst many others. But not definitely by people, who are afraid of turning down a bad deal – and are happy with any deal.
Kamal Nath’s Grandstanding
The US wanted to continue funding its ‘farmers’ to the tune of US$15 billion (which they graciously) agreed to bring down to US$14 billion. This is up from the current subsidy of US$9 billion.
What is the Indian farmer to do against such subsidy driven regime – fight with his hands tied behind his back?
The Current Financial Crisis
Is entirely due to US Treasury printing presses working over time. India has no role to play in this. Do you think that any other country would come to our rescue in such a situation?