I notice that the online versions of the international business newspapers are trying to localize the news and have the equivalent of a India edition. The Wall Street Journal in particular has made a tremendous effort to Indianize their online edition.
They carry local columnists and photographs. This makes it an interesting read from my perspective. Also I have gotten into the habit of reading the comments or peoples reactions to some of the issues raised in this columns. Being the land of Argumentative Indians there is no shortage of opinions expressed. I have to confess, I occasionally jump in to express my two cents worth as well.
It is interesting to see that when there are articles critical of India there is a tirade of comments. There are other issues also which get people excited. However today's edition carried a column by a Mr.S.Gridhar who runs the Azim Premji Foundation and which talked about the great work done by individual teachers in rural communities in spite of the odds being stacked against them. Their dedication is spread over decades and is awe inspiring.(http://blogs.wsj.com/indiarealtime/2010/09/29/india-journal-a-salute-to-the-unheralded-teacher/ ). Yet there were only three comments ( including one of mine).
While we all get excited about Shah Rukh Khan being searched by the US customs and other instances where reader take up cudgels, in this instance no one seems to show much interest. Shows our priorities. Sad state of affairs !!!
Wednesday, September 29, 2010
Sunday, September 26, 2010
Déjà Vu
Over the last few years there has been a lot of concern about China and its trade and investment policies. China keeps it currency artificially low, it puts up trade barriers, it discriminates against foreign investors. In addition, the critics say that China does not respect intellectual property, it copies technology, it puts pressure on companies who want access to the Chinese markets to invest there and to disclose technology and so the list goes on.
Why does it all sound familiar ? Was this not all said about Japan in the seventies and in the eighties ? Japan was asked to appreciate its yen, it was asked to open its markets, it was asked to lower its barriers to import.Buy out funds chafed at their in ability to acquire control of the tightly held companies.
Some of these complaints were valid. I remember one instance where the Japanese were placing restrictions on the import of French ski's. The Japanese insisted that the snow in Japan was different from the rest of the world. The French retaliated by insisted that all Japanese car imports were routed through one small port which caused huge amount of delay. The Japanese backed down shortly.
In the meantime the Japanese companies went on a buying spree for assets in the developed world, including an American icon - The Rockefeller Center. The Japanese banks were among the largest in the world in terms of assets . It was rumored that the grounds of the Imperial Palace were worth more than the entire state of California. There was concern that Japan would dominate the world. Americans insisted their children learn Japanese.American graduates lined up internship with Japanese companies.
Now it is China's turn. The multinational companies are all complaining that China is limiting their access to the markets and to certain sectors. There is talk about barriers being erected against Chinese exports. Pressure is being imposed on China to let the yuan appreciate.
China has learned from Japan. Its investment forays overseas , with some exceptions, have been in the emerging market countries in Africa and Latin America, in search of raw materials and where it can use its financial muscle. Initial attempts by public sector companies to acquire natural resources in the developed world met with resistance and China now treads warily.
At the end of the day how will it play out ? The reality is that now days global trade and the global economies are too inter-linked . We have learned our lessons from the Depression era that barriers do not help. But each country has to shadow dance and show the big stick , partly for its domestic audience and also to ensure that limits are not crossed. While there is always a risk that a particular leader might be foolish enough to proceed with the threats being made, at the end of the day nothing will change. Twenty, thirty years from now there will Act III of the same play but with a new set of actors and a new bogey man Perhaps it will be Brazil or India. ? Keep watching this space.
Why does it all sound familiar ? Was this not all said about Japan in the seventies and in the eighties ? Japan was asked to appreciate its yen, it was asked to open its markets, it was asked to lower its barriers to import.Buy out funds chafed at their in ability to acquire control of the tightly held companies.
Some of these complaints were valid. I remember one instance where the Japanese were placing restrictions on the import of French ski's. The Japanese insisted that the snow in Japan was different from the rest of the world. The French retaliated by insisted that all Japanese car imports were routed through one small port which caused huge amount of delay. The Japanese backed down shortly.
In the meantime the Japanese companies went on a buying spree for assets in the developed world, including an American icon - The Rockefeller Center. The Japanese banks were among the largest in the world in terms of assets . It was rumored that the grounds of the Imperial Palace were worth more than the entire state of California. There was concern that Japan would dominate the world. Americans insisted their children learn Japanese.American graduates lined up internship with Japanese companies.
Now it is China's turn. The multinational companies are all complaining that China is limiting their access to the markets and to certain sectors. There is talk about barriers being erected against Chinese exports. Pressure is being imposed on China to let the yuan appreciate.
China has learned from Japan. Its investment forays overseas , with some exceptions, have been in the emerging market countries in Africa and Latin America, in search of raw materials and where it can use its financial muscle. Initial attempts by public sector companies to acquire natural resources in the developed world met with resistance and China now treads warily.
At the end of the day how will it play out ? The reality is that now days global trade and the global economies are too inter-linked . We have learned our lessons from the Depression era that barriers do not help. But each country has to shadow dance and show the big stick , partly for its domestic audience and also to ensure that limits are not crossed. While there is always a risk that a particular leader might be foolish enough to proceed with the threats being made, at the end of the day nothing will change. Twenty, thirty years from now there will Act III of the same play but with a new set of actors and a new bogey man Perhaps it will be Brazil or India. ? Keep watching this space.
Wednesday, September 22, 2010
Trigger For Change
The newspapers are full of the Commonwealth Games fiasco and enough is being said without adding my two cents worth.
I sincerely hope that this will be the trigger for the public to demand more transparency and accountability from the politicians and the bureaucracy. The government needs to streamline the numerous departments to avoid passing the buck like it is being done now. The Metro is a good example. By giving Mr.Shreedharan the overriding powers the National Capital Region Metro has come in on time and on budget repeatedly since its inception.
Why can we not do this for other major projects ? I am sure there are many other Shreedharan's around that we do not have to rely on the likes of Mister " It will be the best Common Wealth G ames ever. It will be better than the Beijing Olympics " .
The first step towards this is ensuring the strict implementation of the Right To Information and providing legal protection to the information seeker. It will be the first step towards a better , cleaner India which we can all be proud off.
I sincerely hope that this will be the trigger for the public to demand more transparency and accountability from the politicians and the bureaucracy. The government needs to streamline the numerous departments to avoid passing the buck like it is being done now. The Metro is a good example. By giving Mr.Shreedharan the overriding powers the National Capital Region Metro has come in on time and on budget repeatedly since its inception.
Why can we not do this for other major projects ? I am sure there are many other Shreedharan's around that we do not have to rely on the likes of Mister " It will be the best Common Wealth G ames ever. It will be better than the Beijing Olympics " .
The first step towards this is ensuring the strict implementation of the Right To Information and providing legal protection to the information seeker. It will be the first step towards a better , cleaner India which we can all be proud off.
Thursday, September 2, 2010
Why India is different ?
While reading the Times of India this morning I saw a photograph, which made me smile and feel good about about being an Indian.
The photograph was of a woman covered entirely in a black burqa except for her eyes. She was carrying a
boy - probably five or six years of age dressed up as the Hindu God Krishna with his body painted blue and and on his head was a gold colored band with a peacock feather - the popular image associated with Krishna. Obviously they were off to a Janamasthmi celebration . In any other country in South Asia or the Middle East, a fatwa would probably be issued against her.
The New York Times recently had an article about the Golden Temple at Amritsar which talked about non- Sikhs who visit the temple regularly and voluntarily participate in the cooking and serving the communal meals. The Sikh holy book has quotations and hymns from both Hindu and Muslim saints - a fact probably not known to Muslims outside India. Similarly you have people of other religions visiting the Dargha at Ajmer or that of Hazrat Nizamuddin in Delhi.
This ability to accept foreign cultures and religions, assimilate them and live in tolerance with each other is what makes India so different. Yes we do occasionally have some religious fundamentalist - Hindus, Muslims,Sikhs who instigated by politicians try to cause trouble, but overall for the most part we live in harmony, celebrate and participate in each others festivals.
I cannot think of many countries in the world which have senior political, defense personnel or bureaucrats who are of a religion different from that of the dominant population . In India the President is a Hindu, the Vice President is a Muslim, the Prime Minister is a Sikh and the most powerful person behind the throne is a Christian . The President and the Congress Party Supremo are both females.
No country in the world can beat that !!
The photograph was of a woman covered entirely in a black burqa except for her eyes. She was carrying a
boy - probably five or six years of age dressed up as the Hindu God Krishna with his body painted blue and and on his head was a gold colored band with a peacock feather - the popular image associated with Krishna. Obviously they were off to a Janamasthmi celebration . In any other country in South Asia or the Middle East, a fatwa would probably be issued against her.
The New York Times recently had an article about the Golden Temple at Amritsar which talked about non- Sikhs who visit the temple regularly and voluntarily participate in the cooking and serving the communal meals. The Sikh holy book has quotations and hymns from both Hindu and Muslim saints - a fact probably not known to Muslims outside India. Similarly you have people of other religions visiting the Dargha at Ajmer or that of Hazrat Nizamuddin in Delhi.
This ability to accept foreign cultures and religions, assimilate them and live in tolerance with each other is what makes India so different. Yes we do occasionally have some religious fundamentalist - Hindus, Muslims,Sikhs who instigated by politicians try to cause trouble, but overall for the most part we live in harmony, celebrate and participate in each others festivals.
I cannot think of many countries in the world which have senior political, defense personnel or bureaucrats who are of a religion different from that of the dominant population . In India the President is a Hindu, the Vice President is a Muslim, the Prime Minister is a Sikh and the most powerful person behind the throne is a Christian . The President and the Congress Party Supremo are both females.
No country in the world can beat that !!
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