Rival to World Bank, with India equal role

[HongWu]

LOL at Indian telegraph. Does anybody really think a third world beggar like India can "convince" anybody about economic matters? They are happy just to get a hand-out.

 

[AViet]

Truth is that Chinese can do what ever they want, India will pursue its own goals in ASEAN,South America and Africa.

Do you mean that India will go with begging bowl to Africa, South America or Asean. All three regions are richer than India in per capita income. You are begging Asean for both capital and technology and what India can offer in return: low-educated, poor skilled workers, cotton, iron ore and some other natural resources, ...etc. Stop talking as if India is a rich country looking for venture in poorer regions.

 

[Srinivas]

Troll with as$ burn ....

Do you mean that India will go with begging bowl to Africa, South America or Asean. All three regions are richer than India in per capita income. You are begging Asean for both capital and technology and what India can offer in return: low-educated, poor skilled workers, cotton, iron ore and some other natural resources, ...etc. Stop talking as if India is a rich country looking for venture in poorer regions.

 

[AViet]

I post hereby the data on export-import from Vietnam to India in first 6 months of 2013:

Top 5 items of Vietnam exports to India:
1. Telephone and parts: $ 537.9 millions
2. Computer and electronics: 94.3 millions
3. Machinery and equipment: 84.2 millions
4. Rubber: 56.7 millions
5. Chemicals: 29.9 millions.

Top 5 items of Vietnamese imports from India:

1. Animal feeds: 247.4 millions
2. Corn: 239.5 millions
3. Cotton: 126.5 millions
4. Pharmacetical products: 115.5 millions
5. Steel: 106 millions

Source: www.ttnn.com.vn/NewsAttachment.ashx?id=7843&type=pdf

And Vietnam is the less developed country among Asean.

 

[idune]

First of all, a $50 billion fund will not serve anything for these economies.
Second, india can not afford any fund in the tune of $50 billion, that is why proposal of $10/country.
Third with this amount, fund will just be symbolic one and China will not loose anything.

Chinese influence will be there and increasing in bilateral way.

Mega deal (close to half a trillion oil and gas deal) with Russia
$50 + billion deal with south American countries mostly with Brazil, Argentina and Venezuela
$50 or so billion deal, oil & gas pipeline along with infrastructure with central Asian region.
Over $100 billion worth of currency stabilization fund with ASEAN along with Japan and S Korea.
Deals in Africa

These I can remember now....

India claiming some sort of victory is just comical and perhaps China left that out for indian child play.

 

[illusion8]

@Srinivas, why do you think these Chinese cheerleaders jumping up and down?

 

[Srinivas]

@Srinivas, why do you think these Chinese cheerleaders jumping up and down?

Because their ploy of dominating Indian ventures in Africa, ASEAN and South America in the name of BRICS bank was shot down by India in the initial phase ....

 

[My-Analogous]

a group like BRICS means equality..China may have more wealth than others,but BRICS wasn't created for China's wealth,right??tell me,then what South Africa,whose economy is lesser than all other members,have to contribute???a mere $5 bil will make him a lesser member of this group..

BRICS stands for co-op,not domination..its a good idea to contribute equal amount of money,cause money talks..the member which will provide more money will try to reap benefit more..

and BRICS bank can't be a contender of World Bank..cause only member of this bank will be these 5 countries..it is as simple as that..

Nice words but economist don't think that way

 

[Masters]

Because their ploy of dominating Indian ventures in Africa, ASEAN and South America in the name of BRICS bank was shot down by India in the initial phase ....

We can kick India out of BRICS and everyone will agree to it. Everyone know only we have the capability to make BRICS out to anything.

Without BRICS, no one will even talk about India.

Only way a poverty-stricken disease filled raw material exporting 3rd world backwater like India gets a mention is when you piggyback on our success and fools put a cesspool like India in the same league as China due to the similar population size.
That's the only way India ever gets mentioned. India is never important by itself, always have to piggyback on our success. We put your 3rd world country on the map. Without us, you are nothing.

Examine a little deeper and India is not even in the league below us let alone in the same league.

 

[conworldus]

I am strongly in favor of excluding India if we establish an emerging market fund. Brazil, Russia, and South Africa all have enormouse natural resources to back them up in the worst case scenario, and they don't have a huge, malnutrished and uneducated population burden.

India is no where close to what an "emerging nation" is when it grows sub 5% on 1500 per capita GDP, runs a huge trade deficit, holds a pathetic forex reserve (less than Hong Kong!), and a currency that hold practically zero intrinsic value outside its border.

Including India in this fund will only add to the liability because India is searching for a handout. It is not China's business to bail India out of their own incompetence.

 

[beijingwalker]

China's economy is much bigger that the rest of BRICS combined and hold one third of the world's total foreign reserves,without China the BRICS would lose any meaning to this world.

 

[Wright]

"India and China".

That phrase has come to define the brics. People are banking on indias massive population to pull it ahead economically.

Keep in mind India has no 1 child policy. People may
equate a gigantic population with economic potential.

 

[American_Millenium]

"India and China".

That phrase has come to define the brics. People are banking on indias massive population to pull it ahead economically.

Keep in mind India has no 1 child policy. People may
equate a gigantic population with economic potential.

If that potential is not reached, it may be something far worse.... I don't think that China enacted a one-child policy due to ignorance of the consequences... India has less than 1/3 the land area of China, yet they're popping out children like no tomorrow. This is not a good thing.

 

[Chinese-Dragon]

This is exactly India's way----we won't let others to succeed, even if we are not successful. India wants to dominate this development bank while itself has no such strength to achieve its goal. China has more fund to bring this bank into efficient operation, more fund means more responsibility, we would like to undertake much more responsibility to save emerging markets. Typically India way, drag you down with shady approach.

Exactly right.

And they shot themselves in the foot. Now China will do more lending on a purely bilateral basis.

Whereas if we had contributed more to the BRICS fund, that would have meant more influence for the BRICS overall. Our money would have increased the influence of all the BRICS.

Instead of moving themselves forward, they just want to drag others back down to their level.

 

[Masters]

Exactly right.

And they shot themselves in the foot. Now China will do more lending on a purely bilateral basis.

Whereas if we had contributed more to the BRICS fund, that would have meant more influence for the BRICS overall. Our money would have increased the influence of all the BRICS.

Instead of moving themselves forward, they just want to drag others back down to their level.

Exactly.

The Indians are totally jealous of our success and influence. Everytime they join a group, they try to undermine it by doing underhanded and shady things. It's the typical Indian mentality. They are used to that corrupt culture, it's part of their DNA.

It infuriates the hell out of them seeing China growing in power and influence while their dream of catching upto China has gone down the drain.

Everyone and their dog knows BRICS is absolutely NOTHING without China. There have been many articles saying this. But the Indians that cannot bear to see us leading. They are extremely jealous of us.

They want the success, influence and attention we have, but nobody gives it to them.