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Sunday, March 07, 2004

The Sun is setting in the West Via Bworld

The US debt-GDP ratio, at about 300% currently, is the highest ever - higher than the 260% touched during the epochal Depression of 1929. While it is true that the high debt ratio and the depreciating value is a matter of high concern to the US and by extension to the world - it is absolutely unfair to correlate that to be a study in contrast with India - Most of the statistics related to indian growth - increased reserves to stockmarket boom would hold good for most of Asian countries -Pakistan ,Thailand etc. This century would be Asian century -No doubt but whether India would gain as much - It is highly doubtful - with poor infrastructure, bureaucracy, pettifogging politicians, it is likely that India again gets a less than a proportionate share in this growth. Last year the Bangkok stockmarket gained the most in Asia - The Thai currency gained the most due to weakening dollar. Growth shall not be a factor of opportune moments and natural forces - Growth needs to be planned, harnessed and directed - India is very poor in all these. The perceived success in IT & Pharma(Indian companies still have a long way to go - Indian IT companies are far removed from winning hundred million dollar contracts - leave aside billion dollar outsorcing deals, or Pharma new product development - compare the efforts/price in research between Dr.Reddy's lab and EMerck)are to be attributed to private entrepreneurism,these escaped the bureaucratic attention before growing to a decent scale without getting choked/slowed and losing time.
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Sadagopan's Weblog on Emerging Technologies, Trends,Thoughts, Ideas & Cyberworld
"All views expressed are my personal views are not related in any way to my employer"