We can challenge India on Copenhagen goals: US – Global Warming – Environment – Home – The Times of India
White House senior advisor David Axelrod told CNN that the Copenhagen Accord would allow US verification. “Now China and India have set goals. We are going to be able to review what they are doing. We are going to be able to challenge them if they do not meet those goals,” Axelrod said.
While this was probably intended to keep the enraged constituencies of US labour unions at bay, who had insisted that Barack Obama come back with a commitment from India and China for carbon cuts and their verification, these statements will only fuel a fire in countries like China and India. (via We can challenge India on Copenhagen goals: US – Global Warming – Environment – Home – The Times of India).
Like last time
This time around, based on similarly dubious research, India is being pressured to accept monitoring of climate change. Climate control and the Copenhagen meet is that fast growing octopus which is spreading out. It tentacles can be found in all kinds of places. One of its tentacles has reached India – which was any way the target. The Aspen Institute, India (AII).
To ’soften’ up India, the AII organized a gab-fest. Who could be a good candidate for a gathering of such worthies? At least, Nobel Prize winners. Rajendra Pachauri? Al Gore? Any better candidates. Yes.
Amartya Sen – who ‘graced’ this gab-fest, hosted by Aspen Institute, India (AII) – an ‘associate’ of Aspen Institute, USA. Amartya Sen is tenderizing up the media, the academia, to accept Copenhagen outcome – which is primarily International ‘monitoring’ of India’s climate control and administration. Does Amartya Sen raise any of these questions? For his efforts to weaken Indian position and interests, Amartya Sen will soon qualify as a unique category of Indian passport holder – Non-Resident, Non-Indian, holding an Indian passport.
The AII-Board of Trustees reads more like Who’s Who of Indian industry – Bajaj, Birla, Godrej, Thapar et al.
The carbon credits ‘opportunity’
The rich fat-cats are already licking the chops. Estimates have been put out that the ‘carbon-credits business s worth Rs.28,000 crores.
Interestingly, note one thing very carefully. No one, but none, is talking up about cleaning up on pollution. No industry is being asked to reduce their pollutants (think of inks, dyes and chemicals), manage by-products (sulphur from petroleum refining), eliminate contamination (paper plants), decrease waste (electronics), recycle (just imagine the number of mobile phone batteries).
Dada Amartya, you got a memory lapse! How come you don’t talk about any of this?
Polluter cleans – not pay
One of the fundamental flaws of the Kyoto Protocol was the principal of ‘polluter pays’. Based on retributive justice logic, it was something that was bound to fail. Instead it should have been based on the Indic justice principle – ameliorative and make good. The operating principle should have been ‘polluter cleans and does not pollute again.’
Camels … in the kingdom of heaven
Copenhagen is for the rich (from poor countries), by the rich (from rich countries) to the rich (from poor and rich countries) – and may the poor and common be damned. And one thing you can be absolutely, completely, definitely, positively, wholly sure of.
The poor will never, ever, at all, in any manner, benefit from climate control.
Public debt imperils world economy
The Organisation for Economic Co-operation and Development (OECD) has warned that the world’s 30 leading industrialized economies will see their indebtedness grow to 100% of output in 2010, a near doubling from the percentage 20 years ago. (via Public debt imperils world economy – International News – livemint.com).
Till the fat lady sings
The debt spiral is not ended yet.
Like the Dubai crash shows, the world economy is not yet out of the woods. Struggling firms, in the face of a weak consumer and industrial markets, may just keel over. A domino effect may set off yet another round of closures, bankruptcies, mergers, and defaults.
More importantly, are Western Governments. With public debt (read that as Government debt) exceeding 100% of GDP for every Western Government – Ireland at more than 1000%, Britain at nearly 200%, US at more than 100%, they are the vulnerable soft-spot of the global economy.
I want more
The shopping bill for Western welfare state is not going away – except up. Welfare bills are getting more ambitious – and the domestic lobbies want more ambitious schemes. High cost economies are being protected by barriers and stockades.
Run … hide … but you can’t turn your back
The political constructs of the West have hit a wall – and there is no way but down! Since the West is busy hiding elephants in the room, the need for a different political ideology remains unaddressed.
An ideology like भारत-तंत्र Bharat-tantra.
Related articles
- Moody’s puts Japan debt ratings on review (theglobeandmail.com)
- Chinese public debt: Coming clean (economist.com)
- Moody’s reviewing Japan rating for downgrade (seattletimes.nwsource.com)
- How to illustrate U.S. public debt? (ask.metafilter.com)
- Japan disaster may hurt world economy (politico.com)
- Debts, Debts, Debts (businessinsider.com)
- Moody’s Threatens To Warn About Cutting US Debt Rating (businessinsider.com)
A dollar devaluation by another name
British Prime Minister Gordon Brown said on Tuesday there was substantial support among the Group of 20 nations for creating a new framework to tackle global economic imbalances … Analysts said the United States’ drive to agree a roadmap for a more balanced global economy could meet resistance from China which is unlikely to agree reforms that would threaten its growth … A document outlining the US position ahead of the September 24-25 summit said big exporters, which include China, Germany and Japan, should consume more, while debtors like the United States ought to boost savings … The euro hit a one-year high against a sliding dollar ahead of a federal reserve meeting and the G20 talks on rebalancing, a process which is likely to require a weaker dollar.
Like Quicktake has pointed out in earlier posts, the US has alternated between an overvalued currency to gain ownership over large sections of world economy – and now with a devalued dollar, it seeks to gain an upper hand in merchandise exports. The three main points that one needs to understand are: –
One – It reduces the real value of US debt. The Chinese, the Rest of BRICS and the Others need to be paid a lot less in the future. (as pointed out earlier in various posts linked here.) Two – It makes US exports artificially competitive. (as pointed out earlier in linked posts). Three – The US competitiveness will be anchored to assets purchased with over-valued dollars.
Factor | US | Germ
any |
Japan | China | ASEAN | India |
Labour | High | High | High | Low | Med. | Low |
Welfare Costs | High | High | High | Low | Med. | Low |
Entrepre
neurship |
Med. | Med. | Low | Low | Low | High |
Domestic market | Large | Med. | Med. | Med. | Small | Large |
Raw materials
(Self-owned) |
High | Low | Low | Med | Med | Med |
What the US is proposing is that the Chinese Yuan must become ‘stronger’ – and the dollar must become weaker. This will mean a real reduction in US debt – and a subsidy for US exports. Of course, a devaluation has never helped any regime in the long run – but in the short run it reduces imports and increases exports. But is a ‘fix’ that the patient begins to row dependant on!
Is that the US is wanting to do to itself?
Related Quicktakes
Mercantilism reconsidered by Dani Rodrik
the mercantilist mindset provides policymakers with some important advantages: better feedback about the constraints and opportunities that private economic activity faces, and the ability to create a sense of national purpose around economic goals. There is much that liberals can learn from it.
Indeed, the inability to see the advantages of close state-business relations is the blind spot of modern economic liberalism. Just look at how the search for the causes of the financial crisis has played out in the US. Current conventional wisdom places the blame squarely on the close ties that developed between policymakers and the financial industry in recent decades. For textbook liberals, the state should have kept its distance, acting purely as Platonic guardians of consumer sovereignty. (via Dani Rodrik: Mercantilism reconsidered).
Public sector or oblivion?
During the Great Depression, more than 19 auto companies (similar to the number of banks today) were folded into the Big 3. The Big 3 lived to fight for another 70 years. In their death throes, the US Big Auto is likely to go the way European auto sector has gone – public sector or oblivion.
What is on the table
2 out of the G-7 countries are bankrupt – US and Britain. Their industrial base was supported by raw materials and captive markets – acquired by genocide, and the loot of centuries.
France, Germany, Canada, Italy and Australia (not in G7) are tethering on the brink – under the weight of their social security system, and most of their business is in the public sector. A geriatric Japan is dependent almost entirely on exports to these declining seven. Japan’s investment in India and China has been negligible.
Real low … real truth (seen an oxymoron like that?)
The real question – who will pay for this financial crisis?
Not the Americans! No siree. Definitely not. Neither the American super-rich or the American welfare-poor! Not the American tax payers or the American tax evaders? Not the American Whites or the American Blacks?
It is the Chinese, the Russians, Indians, Brazilians, and above all, the Africans, who will pay for these bailouts! They (BRICS+Africa) have done, what bankers call non-recourse lending! The Chinese, Russians, Indians, Brazilians and the Africans, have no recourse. Who will the Chinese go to, for redeeming their US$2 trillion? The bankrupt US of A?
Welcome to the real world.
US economic outlook
US auto is down – but not yet out. It will limp along for few more decades. The US is still the prime force in the computing industry – though not on the manufacturing side. US oil industry no longer dominates international markets the way they did in mid-20th century. The US nuclear industry faces increasing competition from a public sector French and Russian industry. The seemingly strong position of the US in agriculture is based on two aspects. Massive direct subsidies – of more than 8 billion dollars. And indirect subsidies of possibly another US$ 8 billion. Most of which goes to the 46000 farmers who account for 50% of the US agricultural production. The communication sector has again seen the erosion of US competitiveness – with the domination of GSM technology seemingly solid for another 10-15 years. The global financial markets were dominated by the US organizations in the past – but with the global financial crisis and the end to dollar dominance may see reduced clout for US firms.
With such an economic outlook over the next 10-25 years, what the US leadership may focus on, is Arctic oil. Oil will remain a strategic asset only with high prices (slower production increase and faster demand growth) and if no other energy source appears. Oil finds in the Atlantic and Pacific republics may spoil the party – for instance, Cuban oil.
Much like the respite of the North Sea oil to Britain, Arctic oil may provide a temporary halt to the slide in US economic dominance. If the US can lay its hands on a significant part of it!
The other option is to nationalize the US economy. Like France, Germany and Italy. The economies of France, Germany and Italy are practically run by public sector monopolies – or subsidized behemoths, who make survival of competitors difficult by their ability to sustain losses – based on Government largesse.
The lure of ‘capitalism’ …
Why is the West so keen on calling these publc sector, subsidy driven regimes as Capitalism? Capitalism depended on looted capital and slave labour to prosper – resulting in the famous ‘laissez faire’ quip. Capitalists wanted and got ‘laissez faire’ capitalism – which was a ‘coda’ for unlimited slavery. The restrictions on laissez faire were actually restrictions on slaves.
Now under socialism, they get unlimited protection from ‘destructive’ competition. Which is being papered over by names like crony capitalism, free market capitalism. etc., etc.
After the multi-trillion dollar bailout, which has just begun, and with more than US$4 trillion with China, Japan, Russia and India, neither is the outcome certain nor is the outlook bright.
Last but not the least, we must remember the power wielded by the Chartered Companies of Europe – another word for public sector. East India Company was a public sector company!
The Rest of the World needs to be careful of these public sector monsters!
Foreign education takes a hit
Out of the around 93,000 students in Australia, over 40 chose to fly back in the wake of the racially motivated attacks. International education is the third largest source of overseas earnings for Australia, generating around US$12 billion in 2008 and supporting more than 125,000 jobs in the country. (via Foreign education takes a hit).
This one hurts …
After all, which self-respecting, WASP (‘White, Anglo Saxon, Protestant’) Nation would like to be dependent on us dirty and crass Indians!
Bad feeling, huh!
Some people do think that that Indians are of no ‘use to Australia in industry or as a market’. Education happens to be the third largest revenue stream for Australia – after raw materials and tourism. And Indians, by the way, are significant consumers for Australian raw minerals and tourism also.
Anyway, such concerned people should let their Government know about these ‘new found facts’. Because the Australian Government is trying its best to attract Indian tourists to Australia – just like they tried to attract Indian students.
Indian Students Facing Attacks in Australia – BusinessWeek
A senior diplomat at the High Commission told ET that in the last six months, there have been 500 cases of assault on Indian students, registered by the police authorities across Australia. There are fears that such incidents of muggings, theft, racial abuse, car jackings and even murder are on the increase because of the economic meltdown and loss of jobs.
In fact, the Australian government’s $3.5-million campaign to attract Indian students-in an effort to combat recession-could remain a non-starter if the issue of racial attacks is not addressed. An estimated 95,000 Indian students joined Australian institutions of higher education in the first 11 months of 2008. (via Indian Students Facing Attacks in Australia – BusinessWeek).
Do we need this?
Indians are the most important part of work force planning for the entire West. To keep the declining Western economy (and aging populations) ticking, they need Indians – especially the English speaking countries of US of A, UK, Australia and Canada.
This is possibly the one thing that Indians need to understand!
Do Indians have to put up with this kind of insecurity and aggression? After all, (nearly all) Indians are legally entitled to stay in these countries – and in fact, being pursued by some of these countries. What action is the Australian Government taking to solve this problem? Nothing, as far as I can see. Some Indians have got together and a helpline was launched to protect Indian students from violence – reports the Hindustan Times.
In the US of A …
For the last few years, there has been a spate of killings of Indians in the US of A. The important part is these incidents is the common factors: –
- Most of thee victims are from Andhra Pradesh (in India) – which sends the largest numbers of techies and students from India.
- All the seven victims were students or young tech workers.
- These have happened with regularity. Every 45-75 days.
- None of these students had any criminal record or involvement in any criminal activity or groups.
Seven murders in 15 months is too many to be a co-incidence.
What’s happening?
Foreign workers being blamed for job losses in USA? Is there some racist group behind this. Is is the Ku Klux Klan? Indian groups had requested FBI to check this out.
Anybody out there?
Importance of Indian immigrants to the US of A
Each year, India loses more than 1,00,000 doctors, engineers, other post graduates to the US alone and another 3,00,000 to other Western countries – commonly, referred to as ‘brain drain.’
To get a real handle on this number, project this number to the 25-65 age group in the USA. At 100,000 students and professionals every year from India, there are nearly 3.5-4.0 million highly qualified Indians between the ages of 25-65 – holding up the US industry. The IRS of the USA processed under 100.5 million individual tax returns – from a US population of 300.5 million. Thus approximately 4% of the total US working population. Put another way, Indians comprise an estimated 10%-15% of the highly qualified and (highly paid) workforce in the US.
Who pays for this
The Indian tax-payer supports India’s higher education (English based) system to the tune of Rs.2,50,000 crores (US$60 billion). The rest of the world picks up these Indian assets at no investment – and the poor Indian tax payer continues to subsidize English language education which benefits the entrenched Westernized Indian elite. These well-trained, qualified young people at the start of their productive lives are lost to the West (and others).
What is the cost for the 300,000 people that India loses to the West each year? Just the direct cost to the Indian tax payer is US$ 2 billion, or Rs.10,000 crores annually.
India needs to end this subsidy to the West
The usefulness and transferability of utility would be highly reduced, if India were to completely use Indian languages in higher education. Indian investment in higher education would then start benefiting India – and the poor Indian tax payers.
A recent report on ‘brain drain’ for India Government circulation did not even mention how the use of English language for higher education in India increases transferability of utility from India to richer English using academic systems – like the USA.
Actions … and reactions
The most ‘practical’ suggestion that the Australian leader could come up with was that Indians should try and look ‘less Indian.’
But … the Islamic Council of Victoria (said) it’s all an ill-conceived idea. The Council’s Nazeem Hussein says he is disappointed more is not being done to stop the attacks and protect the foreign visitors.
“I think it’s one thing to help the victims look less like victims, sorry to look less Indian, but I think it’s another thing to really attack the core issue here which is racism,” he said.
“And we’re seeing not as much from the police that we would have probably expected.
“It’s only a particular type of crime that is on the rise and that’s crimes against people that look Indian. So really that statistic means not very much given that this particular crime is on the increase.” (ellipsis mine; brackets mine).
The other thing that the Australians decided to do was to send an official, “Leading Senior Constable Victor Robb will travel to India to brief prospective students about ways to avoid trouble.”
To India to ‘counsel’ Indians students on avoiding such attacks.
And Amitabh Bachchan decided against a honorary doctoral degree by a Australian University.
Post script
Three days after this post, the dam broke.
Sadly …
Another Indian student was attacked – and battling for life, in a Melbourne hospital, after a vicious attack with a screw driver.
Internet forums – Discussions and comments
Interestingly, in a discussion group, some commented that,“Australia is walking on eggshells with India probably mainly due to tensions over Cricket.” Now this is interesting. This brings me back to sports as a propaganda tool in the Anglo Saxon Bloc!
And money! Indian cricket is the only Western sport in India, where India is a global power – in terms of financial muscle and performance.Is that what is hurting the average, ‘Joe’ Australian!
The other interesting aspects that came out of this discussion group was that similar behaviour in the past was finally controlled by ‘counter aggression’. The commentator shot back with, “Remember the melbourne gangs in the 80’s and 90’s formed basically to fight the skinheads.”
Yes … you can run and hide
But not at the same time.
An editorial in The Age, an Australian newspaper, further aggravated the issue. It pointed out how,
If Australia’s governments are worried that the truth has not been told, however, it is puzzling that Australian coroners have suppressed details of the deaths of more than 50 international students, and that the death toll appears to be higher than the number admitted by the Federal Government. Earlier this year, in response to a question in Parliament, the Government stated that 51 international students had died in the 12 months to November last year. Yet as an Age investigation has established, the correct figure is higher, most likely 54. And, an application by this newspaper for release of data on the students’ deaths under the National Coroners Information System was refused after an initial assurance that it would be made available. The reason for the refusal, according to a spokeswoman for Victorian Coroner Jennifer Coate, was that the data is not exhaustive: “The nationality and occupation of someone who has died is not required to be automatically recorded.” (from The greater the secrecy, the greater the anxiety, editorial in The Age, Australia).
This was picked by the media – and much coverage was given. The Australian Government had to come out with yet another statement and yet another halfhearted attempt to show that all was well in the Australian Copacabana.
- Oz hides how 54 overseas students died last year
- Revealed: student death toll set to rise
- Foreign student death details suppressed
- More foreign students killed in Australia than government admits: Report
- Krishna to visit Australia, attacks on Indians top agenda
- Sikh victim of racial assault in Australia narrates ordeal
- Aus delegation to visit India to give assurances about safety
- Australia apex student body asks varsities for info on deaths
- Sikh victim of racial assault in Australia narrates ordeal
- Murder charges on accused for acid attack on Lankan students in Oz
- 54 overseas students died in Oz in 2008, half Indians: Daily
- Oz hides how 54 overseas students died last year
Getmo’
- Anger growing among Indian students
- Protect our students, India tells Australia
- TV only source of news for this Karnal family
- Worried India summons Australian envoy over attacks on Indian students
- Aus assures to protect Indian students: Krishna
- Surfers concerned over spurt in racial attacks
- Father of attacked Indian student gets Australian visa
- India calls Australian envoy over attacks on Indian students
- Attacks on Indian students not racial: Australian official
- Fresh attack in Australia, petrol bomb hurled at Indian youth
- Four Indian students assaulted in Australia
- Aussie police arrest 2 teenagers in Indian assault case
- Five teenagers held for attacks on Indian students in Australia
- Don’t come to Australia, Indian victim tells fellow students
- SOS: Save our Students
- ’20 racial attacks on Indians in Sydney in a month’
- India calls for swift action against attacks in Australia
- Indian students in Australia to hold rally on Sunday
- Attacks on students in Australia should stop now: India
- ‘Petrol bomb hurled’ at Indian youth in Australia
- Travel agents ready to sponsor Australia trip for injured Shravan’s father
- Five teenagers held for attacks on Indian students in Australia
- Attacks on Indians not racial: Australian official
- Another Indian student attacked in Australia
- Aussie cops arrest 2 teenagers in Indian assault case
- Four Indian students attacked in Australia
- Houses of assaulted Indians burgled in Australia
- India asks Australia to ensure security of its students
- Bachchan Turns Down Australian Doctorate May 30, 2009
- Australia Racial Attack: Student Community Seeks Swift Action May 30, 2009
- Now, A Petrol Bomb Hurled at Indian Youth in Australia May 29, 2009
- India Asks Australia to Ensure Security of its Nationals May 29, 2009
- Racial Attack on Indian Students in Australia May 27, 2009
- Houses of Assaulted Indians Burgled in Australia May 27, 2009
- Indian Student Charged with Raping 14 Year Old in Australia May 26, 2009
- ITF Fines Australia $10,000 for Boycotting India Tie May 22, 2009
- Brit School to Pay Sikh Student 200,000 Pounds Apr 19, 2009
- 3 British Teens Jailed for Killing Indian in Racist Attack Mar 21, 2009
- 81 attacks on Indians in Oz since May 23: Govt to RS
- 54 foreign students died in Oz in 2008, half Indians: Report
- TOP ARTICLE | At Home, Down Under
- Australian cops to visit India on students’ attack issue
- 2.2 lakh illegal immigrants from India in US
- To go abroad, these men will even become nannies
- India shining: US headhunts Hindi teachers
- From rural Indian to global villager
- Indian workers to enjoy highest pay hikes in ’07
- Indian worker sacked for wearing nose stud at Heathrow Airport
- Indian students ‘stranded’ in Canada
- Now, Luxembourg woos Indian pros
- Indians boost church attendance in Britain