Published on rediff at: http://business.rediff.com/column/2009/mar/25/upa-will-cost-india-economic-superstardom.htm The current global crisis is potentially an inflection point that marks the transition from an Anglo-American dominance to an Asian dominance in world economic affairs. Certainly, there is a startling turnaround in the fact that China holds $2 trillion in US Treasury securities and therefore lectures the Americans about running their economy – it feels like only yesterday when the shoe was on the other foot. Another indicator is China’s aggressive fire-sale purchases of commodities, including oil, copper, iron ore etc. from all over the world. “Have money, will buy” is their mantra.
UPA's report card on the economy: D-
UPA's report card on the economy: D-
UPA's report card on the economy: D-
Published on rediff at: http://business.rediff.com/column/2009/mar/25/upa-will-cost-india-economic-superstardom.htm The current global crisis is potentially an inflection point that marks the transition from an Anglo-American dominance to an Asian dominance in world economic affairs. Certainly, there is a startling turnaround in the fact that China holds $2 trillion in US Treasury securities and therefore lectures the Americans about running their economy – it feels like only yesterday when the shoe was on the other foot. Another indicator is China’s aggressive fire-sale purchases of commodities, including oil, copper, iron ore etc. from all over the world. “Have money, will buy” is their mantra.