The Tatas with near hundred companies have created a captive economy which can sustain in lean times by supporting each other. India needs to emulate the same to avoid pinpricks of global recessions...
The US is nowadays the favorite whipping boy of the world. If it does well in it’s economy, it is blamed for its carbon emissions and replacing the cultivation of foodgrain with the production of biofuel. Therefore when the economy of the US starts faltering, ideally the world should be happy as it gives the right kind of opportunity to dethrone the sole remaining superpower of the earth. A slowing American economy is also a harbinger for reduction in the level of carbon emissions as bankrupt Americans coupled with more bankrupt banks would consume less thereby consuming lesser fuel. But alas, even in it’s demise, the world abuses it. When it booms, the Americans are asked, ‘Why are you booming?
Your consumptions and insatiable appetite would someday ruin the world’, while at the first impression of a slowing down in the American economy, it is then abused again, ‘Why the hell are you slowing down? Why can’t you manage your own backyard properly? Don’t you realize that many millions across the world would be unemployed if your economic machine stops rolling?’ One should pity the Americans. It’s like damned if they do and damned if they don’t. But why is it that for all the hype of emerging economies all across the developing nations, the world’s well being is still dependent on the consumption pattern of 300 million Americans? And for a change, is it possible to forgive the poor Americans and think about alternatives so that the world can be relieved of the typical cycle of recession and boom while out rightly relegating the FIIs to oblivion for their ‘fair weather friend behavior’ and the habit of pulling the carpet beneath the feet and catching nations off guard especially when they are about to celebrate their newfound economic well being? Look at India. While everyone was expecting that the sensex, after having a stupendous run for quite sometime and having breached the magic figure of 20,000 would embrace 30,000 soon, things went awry.
The US is nowadays the favorite whipping boy of the world. If it does well in it’s economy, it is blamed for its carbon emissions and replacing the cultivation of foodgrain with the production of biofuel. Therefore when the economy of the US starts faltering, ideally the world should be happy as it gives the right kind of opportunity to dethrone the sole remaining superpower of the earth. A slowing American economy is also a harbinger for reduction in the level of carbon emissions as bankrupt Americans coupled with more bankrupt banks would consume less thereby consuming lesser fuel. But alas, even in it’s demise, the world abuses it. When it booms, the Americans are asked, ‘Why are you booming?
Your consumptions and insatiable appetite would someday ruin the world’, while at the first impression of a slowing down in the American economy, it is then abused again, ‘Why the hell are you slowing down? Why can’t you manage your own backyard properly? Don’t you realize that many millions across the world would be unemployed if your economic machine stops rolling?’ One should pity the Americans. It’s like damned if they do and damned if they don’t. But why is it that for all the hype of emerging economies all across the developing nations, the world’s well being is still dependent on the consumption pattern of 300 million Americans? And for a change, is it possible to forgive the poor Americans and think about alternatives so that the world can be relieved of the typical cycle of recession and boom while out rightly relegating the FIIs to oblivion for their ‘fair weather friend behavior’ and the habit of pulling the carpet beneath the feet and catching nations off guard especially when they are about to celebrate their newfound economic well being? Look at India. While everyone was expecting that the sensex, after having a stupendous run for quite sometime and having breached the magic figure of 20,000 would embrace 30,000 soon, things went awry.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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