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Featured Obama: Quickest Route to Indian Unity is Expressing Hostility Toward Pakistan

RiazHaq

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#India’s #Economy to Struggle With Effects of #CoronaVirus Through 2025. #IMF predicts #Indian #GDP will shrink 10.3% in the year to March 2021 as #Modi’s sudden #lockdown paralyzed activity. #BJP #Hindutva https://www.bloomberg.com/news/arti...o-struggle-with-effects-of-virus-through-2025


HSBC Holdings Plc said India’s potential growth could drop to 5% in the post-pandemic world from 6% on the eve of the outbreak and more than 7% before the global financial crisis.

“All supply-side factors feel the effect, with only human capital’s contribution unchanged from the pre-virus baseline,” Kishore said. “Capital accumulation takes the biggest hit because we expect balance-sheet stresses to worsen following the crisis, lengthening the investment recovery cycle.”

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India will be worst-affected among the world’s major economies even after the pandemic wanes, with output 12% below pre-virus levels through the middle of the decade, according to Oxford Economics.

Balance sheet stress that had been building before the coronavirus outbreak will probably worsen, Priyanka Kishore, head of economics for South Asia and South-East Asia, wrote in the report. She projects potential growth for India at 4.5% over the next five years, lower than 6.5% before the virus.

“It’s likely that headwinds already hampering growth prior to 2020 -- such as stressed corporate balance sheets, elevated non-performing assets of banks, the fallout in non-bank financial companies, and labor market weakness -– will worsen,” she said. “The resulting long-term scars, probably among the worst globally, would push India’s trend growth substantially lower from pre-Covid levels.”

The contraction hasn’t deterred Prime Minister Narendra Modi from reiterating his target of making India a $5 trillion economy by 2025 from $2.8 trillion. While the government has announced a slew of measures to support growth, they have fallen well short of expectations to boost demand, leaving the central bank to do much of the heavy-lifting. A paper published by the Reserve Bank of India last week predicted Asia’s third-largest economy has entered a historic technical recession. Official data is due Nov. 27.

The International Monetary Fund predicts GDP will shrink 10.3% in the year to March 2021 as Modi’s sudden lockdown paralyzed activity. While a sharp rebound is forecast as economic activity resumes, there are lingering scars.
 

Menthol

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India used to be the wisest country in the world.

The guru of the world, the land of wisdom.


But in the end, it's other countries who become wise and develop their countries spectacularily.

While India falls into chaos.
 

Homo Sapiens

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More recently, US President Donald Trump mocked Indian Prime Minister Narendra Modi about Indian contribution to Afghanistan. Trump said he got along very well with Prime Minister Narendra Modi, but the Indian leader was "constantly telling me he built a library in Afghanistan". "That's like five hours of what we spend... And we are supposed to say, 'oh, thank you for the library'. I don't know who is using it in Afghanistan," Trump said.
Donald Trump even with just a few hours meeting realized Indian banya low class mentality very well. If you take any small help from Indians, they will remind you that for the next 1000 year. If Indian govt. give another country any gift or donation, they may ask return that at any times ! Bharat had given a helicopter to Nepal as a gift some years ago, then few years later asked Nepal to give it back claiming that it was not a gift but a loan ! (watch out Burmese, Indians may ask you to return the Submarine they gifted you at any time). They always brag and exaggerate the help they provide to others and ask praise and admiration for that , if you don't then they will accuse you of being ungrateful and constantly b!tch you on how should remember that help for eternity and shower them everything they want in return.
 
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SQ8

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I agree with Obama, a strong sense of nationalism arose due to animosity with Pakistan.
Democracy and Pakistan has united India like no other force.
Anti-muslim sentiment and Pakistan - self felatio from Indians is better suited for Indian echo chambers..
 

Jugger

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Anti-muslim sentiment and Pakistan - self felatio from Indians is better suited for Indian echo chambers..
You are terming moral superiority as self felatio..?? You are free to think whatever you want, I don’t mind.
But the continued failure of Pakistan for the last 7 decades has strengthened India beyond measure. We can always look to western neighbour and rejoice at our decisions.
 

RiazHaq

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Sharma Ji

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Nothing new here, it's the oldest trick in the book to whip up nationalist sentiment by playing the Pak card (spl in the wake of an attack in Kashmir or elsewhere)

what was more interesting was his reading of the ghandy clan, about how Raul is a clueless idiot and how Sonia madam picked MMS because he posed no risk to little pappu
 

jamahir

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what was more interesting was his reading of the ghandy clan, about how Raul is a clueless idiot and how Sonia madam picked MMS because he posed no risk to little pappu
A certain Indian leader has been internationally called Divider-in-Chief. :)
 

xyxmt

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Lack of self respect and confidence will do that to a nation, when you yourself feel inferior to your neighbor.
 

Patriot786b2

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This fact is repeated several times over in year due to divisive India general population of its own out of control.
 

PradoTLC

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The biggest symbol of Indian obsession is the sheer number of them on Pakistani forums, news sites and even social media content about Pakistan. It is understandable that people might be curious, but those with outright hatred towards us are obsessed by us.

Look at this forum, of the Indian membership how many positively engage and how many are trolls? How many Pakistani's do you find on their forums? Next to none.

Look at the news sites. Dawn's comments section is inundated with Indians, yet how many Pakistani's comment on ToI?

Their national identity is fabricated, which in itself is no bad thing. Most nations are a mix of cultures, ethnicities, religions and political identities. However the HUGE discrimination and inequality in their nation makes it very difficult for people to bind to a national identity. Thus we have the hatred of Pakistan - the glue that binds. The "other" who is behind all the problems.


india not a real nation... just a collection of narrow, hate mongering clowns united by the hate of Pakistan...


which china militarily humiliated Indians keep buying made in china...
 

RiazHaq

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#India’s #Economy Shrinks Sharply as #COVID19 Slams it. #China has come roaring back, #US , #Europe & Japan are finding their feet but

India’s economy shrank 7.5% last quarter on top 24% decline in previous quarter. #Modi #BJP #Hindutva |The New York Times https://www.nytimes.com/2020/11/27/business/economy/india-economy-covid-19.html

“India was expected to really step into China’s shoes and give that additional boost to globalization that was missing,” said Priyanka Kishore, head of South Asia at Oxford Economics. “And that’s where India didn’t really play out the role it was largely expected to play, and that role seems to be diminishing more and more.”

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An estimated 140 million people lost their jobs after India locked down its economy in March to stop the outbreak, while many others saw their salaries drastically reduced, the Mumbai-based Center for Monitoring Indian Economy said. As the lockdown was eased, many went back to work, but more than six million people who lost jobs haven’t found new employment.

In a June survey by the All India Manufacturers Organization, about one-third of small and medium-sized enterprises indicated that their businesses were beyond saving. The industry group said that such a “mass destruction of business” was unprecedented.

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Just a few years ago, India, with a population of 1.3 billion people, was one of the world’s fastest-growing large economies. It regularly clocked growth of 8 percent or more.

Global businesses began to warm to the idea of India as a potential substitute to China, both as a place to make goods and to sell them. China’s costs are rising, and its trade war with the United States has complicated doing business there. The Chinese Communist Party is increasingly intruding into business matters, and local Chinese competitors have upped their game against international brands.

But India’s economy was facing headwinds well before the pandemic. Between April and December 2019, G.D.P. grew only 4.6 percent.

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One of Mr. Modi’s policies, called demonetization, banned large currency notes overnight in an effort to crack down on tax avoidance and money laundering. Under another, India replaced its welter of national and state taxes with a single value-added tax, in part to cut down on corruption among tax collectors.

Mr. Modi also increasingly turned India’s industrial policy inward, which many economists say has hurt overall growth. The country has long nurtured some of the steepest trade barriers of any major economy, to help its domestic industries develop. Mr. Modi added to that in areas like electronics. His government has also tightened rules around e-commerce, to assist Indian businesses that compete with companies like Amazon and Wal-Mart.
“The slowdown,” said Ms. Kishore, “is almost homegrown.”
 

RiazHaq

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#Indians' national dream of emulating #China’s rapid growth is receding — by some #economic yardsticks, #India can’t even keep up with #Bangladesh. #Modi’s #COVID19 #lockdown in March left millions of scared migrant workers without jobs, shelter or food. https://www.bloomberg.com/graphics/2020-opinion-india-and-modi-are-losing-china-battle/
By Andy Mukherjee

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The post-lockdown economy will simply not have enough demand to consume what can be produced. There’s some attempt to reform the supply side — labor and farm markets, in particular. But not much is being done to revive demand, either in the short or the long run. Some of us are wondering if this callousness will cause India’s demographic dividend — two out of three Indians are still in the magic age group of 15 to 64 years — to go unclaimed.

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China’s example beckoned. After the June 1989 Tiananmen Square massacre, Beijing wouldn’t brook political freedoms, but the economic reforms begun by Deng Xiaoping were deemed irreversible and foreign investors were mostly welcomed. The economy took off. China joined the World Trade Organization in 2001 and grew at 10%-plus rates for 20 years.

It was never going to be easy for India to emulate its neighbor, whose single-party state struck a bargain with foreign investors, while discriminating against its own business class. Such stratagems weren’t possible in India’s noisy, federal democracy. Politicians couldn’t ignore local businesses that gave them money to fight elections. So India cleaned up the stock market and opened it to overseas investors. This made sense. Unlike China, which was saving more than half of its national income before the 2008 global financial crisis, India lacked the capital to sustain a liberalizing economy through messy cycles of coalition politics, let alone to build the roads, power plants and other basics of missing infrastructure.

So we put our faith in institutions. Our heritage of English common law, independent courts and regulators held the promise of fairness and protection for all stakeholders, and we thought these would get stronger over time. The state, we hoped, would shrink as an economic player, and become a more robust referee. Governance would improve, endemic corruption would recede. The anonymity fostered by urbanization would smash the regressive caste system. We liked it when scholars such as Yasheng Huang, a professor at MIT Sloan School of Management, said that India could overtake China.

To me and many of my generation, Manmohan Singh was a savior, someone who carried the scars of partition and had known poverty as a child. He was one of us. Our disillusionment with him was 20 years in the future.

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Then, in November 2016, Modi performed a high-voltage stunt: He outlawed 86% of the country’s cash, presumably to unearth illicit wealth. People queued up for days to return their worthless notes. New currency was in short supply. Small businesses in my hometown — a shoe-making hub — couldn’t pay workers. Women-run micro enterprises on the outskirts of Mumbai later told me that their going rate for weaving golden threads into a sari crashed to 4,000 rupees ($54), from 7,000 rupees.

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The rest of the economy is still highly informal, and inefficient: 80% of the output of farms and by small businesses goes to pay for capital, which is scarce. Labor’s share is 20%. Workers are liberally rewarded only in a bloated public sector, much of which ought to have been privatized long ago. Because it wasn’t, taxpayers have to keep alive debt-addled firms such as Air India Ltd.

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The push toward higher wages should have come from higher farm productivity, which would have raised the price of migrant labor coming to cities. India missed this page of the East Asian playbook and failed to create a permanent urban working class.
 

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