China, Russia rebuke India

[oiltrader]

It is better for India to pursue its own path than BRICS bank. Chinese economy is headed for disaster.

On what basis are you of the conclusion that chinese economy is heading for a disaster.

 

[INDIC]

Brazil is not facing a 5 percent CAD, that's where the fund will be useful, India will spend x and get multiple of x leveraged out from mainly the contribution of a country for which you guys leave no opportunity maligning. It's pretty much a freebie.

India, Russia and Brazil each will contribute $18 billion. Make me understand how is it a freebie by a contribution of $18 billion

 

[Bilal.]

India, Russia and Brazil each will contribute $18 billion. Make me understand how is it a freebie by a contribution of $18 billion

Who's suffering 5 pc current account deficit?

 

[INDIC]

Who's suffering 5 pc current account deficit?

The account deficit is there but how India making contribution of $18 billion from her own reserve to BRICS accounts to freebie bailout. Make me understand.

 

[Bilal.]

The account deficit is there but how India making contribution of $18 billion from her own reserve to BRICS accounts to freebie bailout. Make me understand.

You contribute x and leverage out multiples of x. Non other need it as much as India, there is a reason why they are rebuking you and you alone.

 

[INDIC]

You contribute x and leverage out multiples of x. Non other need it as much as India, there is a reason why they are rebuking you and you alone.

Main motive of BRICS is to create a monetary fund without the influence of Western countries. Do you think it will only benefit India, not the other member states of BRICS. But what did you meant by freebie bailout.

 

[Developereo]

When they contribute more, they will throw their weight on the rest. Much like what US does for being the biggest contributor to the World Bank.

That's how the world works.

Money talks and bullsh!t walks.

 

[Bilal.]

Main motive of BRICS is to create a monetary fund without the influence of Western countries. Do you think it will only benefit India, not the other member states of BRICS. But what did you meant by freebie bailout.

You are right, in the end it won't be a freebie I guess, the big contributor(read China) will leverage the fund to dictate India just like Germany does in EU

 

[eastwatch]

there is a typo: should be india



india's fx reserve as at end of august is $275.49 billion. It has lost $16.55 billion in 5 months

dont expect india can contribute to the fund any, any time soon.

However, India will have to pay back about $150 billion of loan to its international creditors by April next year. So, what happens to your current reserve? Do not brag about India's foreign reserves which was built up mostly by the foreign and foreigners' money.

 

[PlanetWarrior]

Cut out the cr@p. The fact of the matter is that India is promoting its own agenda at BRICS. A blind man could have seen that a 100ft away if he was there. For India or any Indian to claim that it remains worried that China is trying to control BRICS is hilarious. China and Russia are the foundations to BRICS. India needs to play within the rules of that forum. At the last BRICS summit, India certainly deviated from the rules

 

[freshmint]

Do you have sources for this? Because many chinese products I use are good quality .Its indian trader who ask for the lowest price and chinese give accordingly so,China offers all kind of quality for same product at different prices. Almost all shoes ,computers,Motherboards are made in China.

It was reported some 15 years ago in the very reputed TIME magazine about the footwear coming off just in two months and the Russians exasperating with Chinese malpractices. this was not some trader buying for a million dollars but this deal was worth more than 1 billion dollars and hence the Chinese government or Army was the cheater. Such things are not heard of in international deals involving nations. have you ever heard of any country accepting counterfeit currency notes worth a billion dollars for a prized technology it does not wish to share with any other country? Hard times forced the Russians to sell Su-27s and the Chinese milked the Russians to the core forgetting how the war devastated completely destitute but yet resilient and self-respecting Russians helped them through the hardships of 1949-1962. Even the Russians provided almost all their latest tech in defence like Mig-21, An-12 in 1950s (which are still cloned) and the greatest gift of nuclear deterrence to China throughout 1950s and 60s and risking US nuclear retaliation during the Korean War and aiding China build a nuclear device. On their own, the Chinese would have built a nuclear weapon much later.

Most Chinese goods are tested in laboratories abroad due to their suspect quality. Hence you will never see a reliable Chinese brand whereas much smaller economies like South Korea has Samsung, Hyundai, LG, Daewoo etc. Chinese economy is 6.5 trillion dollars plus, almost 40-45 percent of US economy but under one trillion dollar economies like South Korea and Sweden make automobiles which are the most expensive and complex piece of engineering bought by common men. They still cannot make a plane that carries 100 men on their own while the Russians, with an economy that was less than 10% of the US economy in 1950s after world war 2, almost were neck to neck with US and also ahead in some while being a little behind in others.

Have you ever read a few lines from the Little Red Book which was given to Chinese to brainwash them by the Maoists and how Maoists glorify their actions???

 

[shuttler]

South Africa has only 46 billion on foriegn exchange. (source:List of countries by foreign-exchange reserves - Wikipedia, the free encyclopedia) its still contributing to the fund.

well you have to table the immediate obligations of each country to look at the degree of urgency

I understand that india's FX reserve only last for 4~5 months of ST payments but SA's problems do not mitigate india's crisis. Each is an independent economy and both could be asking IMF/World bank for help.

 

[shuttler]

However, India will have to pay back about $150 billion of loan to its international creditors by April next year. So, what happens to your current reserve? Do not brag about India's foreign reserves which was built up mostly by the foreign and foreigners' money.

Exactly. some $70 billion remittance from NRIs in 2012

A report has mentioned 1/4 of their companies cant pay loan interests

Plus their much bragged about commitments in their food subsidies, procurement of weapons: state-of-the-art fighter jets, aircraft carriers, submarines, transport airplanes, rocket engines, SLBMs, ICBMs, , space programs to Mars and to land on Moon, BMTs, Supercomputers

OMG!

 

[HongWu]

India gets slapped in the face with its own begging bowl! Humiliation delivered by Russia and China.

 

[oiltrader]

It was reported some 15 years ago in the very reputed TIME magazine about the footwear coming off just in two months and the Russians exasperating with Chinese malpractices. this was not some trader buying for a million dollars but this deal was worth more than 1 billion dollars and hence the Chinese government or Army was the cheater. Such things are not heard of in international deals involving nations. have you ever heard of any country accepting counterfeit currency notes worth a billion dollars for a prized technology it does not wish to share with any other country? Hard times forced the Russians to sell Su-27s and the Chinese milked the Russians to the core forgetting how the war devastated completely destitute but yet resilient and self-respecting Russians helped them through the hardships of 1949-1962. Even the Russians provided almost all their latest tech in defence like Mig-21, An-12 in 1950s (which are still cloned) and the greatest gift of nuclear deterrence to China throughout 1950s and 60s and risking US nuclear retaliation during the Korean War and aiding China build a nuclear device. On their own, the Chinese would have built a nuclear weapon much later.

Most Chinese goods are tested in laboratories abroad due to their suspect quality. Hence you will never see a reliable Chinese brand whereas much smaller economies like South Korea has Samsung, Hyundai, LG, Daewoo etc. Chinese economy is 6.5 trillion dollars plus, almost 40-45 percent of US economy but under one trillion dollar economies like South Korea and Sweden make automobiles which are the most expensive and complex piece of engineering bought by common men. They still cannot make a plane that carries 100 men on their own while the Russians, with an economy that was less than 10% of the US economy in 1950s after world war 2, almost were neck to neck with US and also ahead in some while being a little behind in others.

Have you ever read a few lines from the Little Red Book which was given to Chinese to brainwash them by the Maoists and how Maoists glorify their actions???

What makes u think that russia did not aid india in developing nukes.Also please provide source for footwear allegation as many indians/Pakistanis are prone to making mountains out of molehills.