Rupee and Taka to replace Dollar as currency of exchange between India, Bangladesh

[SoulSpokesman]

BBIN common market is very much a possibility; and there is no reason why SL and Maldives cannot tag along. In a way it is a failure of the Nehru family that India was so slow off the mark. We could easily have been about 2X our size in economic terms in which case the SACM (barring AfPak) would be a reality by now. Possibly, India would have enough cash to dole out as subsidy to the remaining 5 states to get them to accept some loss of fiscal sovereignty.

Regards

 

[mb444]

yes and usa eu will sit down keep watching right ?

We are talking about regional economic integration.... what can USA do? Why would USA do anything?

BBIN common market is very much a possibility; and there is no reason why SL and Maldives cannot tag along. In a way it is a failure of the Nehru family that India was so slow off the mark. We could easily have been about 2X our size in economic terms in which case the SACM (barring AfPak) would be a reality by now. Possibly, India would have enough cash to dole out as subsidy to the remaining 5 states to get them to accept some loss of fiscal sovereignty.

Regards

I think you mean monetary sovereignty...everyone have to coordinate any monetary expansion to control expansion. But each state free to manage a tax system within a spectrum just like in EU with low tax countries like ireland existing alongside high tax countries like belgium.

 

[Thevilone]

yes and usa eu will sit down keep watching right ?

While there is always competition between countries on economic matters, no country can dictate India on any subject. This has been made very clear by our FM Mr. Jayshankar. If India and BD want to have a common curerncy then we will not let EU, US, Russia or China to interfere in any way.

As long as Modi remains PM and Jayshankar FM, India will not bow-down to any global power. We talk on equal terms or not at all. I think Jayshankar is everything IK tried to be, but IK does not have the decades of experience in diplomacy that Jayshankar does.

 

[Species]

Major powers would not like any new power centres developing, hence would be opposed to it.

South Asia in time will have to come together economically for global relevance. INR can not remain and neither can BDT or any other existing currencies.... a new currency would be needed just like Euro. Its inevitable...

Establishing a common currency is the final stage of regional integration. Are we there yet? We haven't even embarked on the first stage yet.

As I said, there are lots of issues that need to be addressed first. There is a fundamental conflict of interest - while Bangladesh focuses on economic diplomacy, India aims for power projection. They have territorial disputes with Pakistan and China which can develop into a small scale conflict any day. India's military expenditure is above 2.5% of GDP while that of Bangladesh is less than 1.5%. India's gross debt is more than 16 times higher than Bangladesh. All these issues have direct impact on monetary stability. Are we ready to pay for India's debts and power projection where we have nothing to do with?

EU's success with Euro and other regional initiatives is largely a result of US taking care of their security which allowed them to focus on economic development and social welfare. Similarly, India has to give up its Super power aspiration for any regional integration to be feasible here.

Besides, nationalism has to be toned down, or rather be eliminated, to initiate a successful regional integration. With the rise of Hindutva in India, I don't see any possibility of a such an integration with India.

 

[mb444]

Establishing a common currency is the final stage of regional integration. Are we there yet? We haven't even embarked on the first stage yet.

As I said, there are lots of issues that need to be addressed first. There is a fundamental conflict of interest - while Bangladesh focuses on economic diplomacy, India aims for power projection. They have territorial disputes with Pakistan and China which can develop into a small scale conflict any day. India's military expenditure is above 2.5% of GDP while that of Bangladesh is less than 1.5%. India's gross debt is more than 16 times higher than Bangladesh. All these issues have direct impact on monetary stability. Are we ready to pay for India's debts and power projection where we have nothing to do with?

EU's success with Euro and other regional initiatives is largely a result of US taking care of their security which allowed them to focus on economic development and social welfare. Similarly, India has to give up its Super power aspiration for any regional integration to be feasible here.

Besides, nationalism has to be toned down, or rather be eliminated, to initiate a successful regional integration. With the rise of Hindutva in India, I don't see any possibility of a such an integration with India.

No issues with your points but at no point an economic integration would mean BD has to pay for Indian Debt, look at greece.

Anyway in the EU model the largest economy pays the most …germany

In terms of power projection against China india is not even a competitor.

One can counter argue that national inferiority complex built into subconscious of the subcontinent via colonialism can be dealt a death blow via integration.

it is inevitable for the collective survival of the subcontinent and will require each country within it to make a lot of changes to their individual trajectories.

 

[itsanufy]

While there is always competition between countries on economic matters, no country can dictate India on any subject. This has been made very clear by our FM Mr. Jayshankar. If India and BD want to have a common curerncy then we will not let EU, US, Russia or China to interfere in any way.

As long as Modi remains PM and Jayshankar FM, India will not bow-down to any global power. We talk on equal terms or not at all. I think Jayshankar is everything IK tried to be, but IK does not have the decades of experience in diplomacy that Jayshankar does.

India's foreign policy to her immediate neighbor is total failure. We have put Nepal, who wanted to be a part of Indian union as a platter to China. Maldives we haven't succeed to put a favorable govt to power,
China was not so much aggressive to India. Infact XI visited Gujrat with modi, which was a dream start of new era between two powers in Asia.

 

[Thevilone]

India's foreign policy to her immediate neighbor is total failure. We have put Nepal, who wanted to be a part of Indian union as a platter to China. Maldives we haven't succeed to put a favorable govt to power,
China was not so much aggressive to India. Infact XI visited Gujrat with modi, which was a dream start of new era between two powers in Asia.

It is difficult to explain why the British never conquered Nepal or Afghanistan, the returns from conquering were too less compared to the price of conquest. War is not about fighting/killing/dying; real warfare is all about economics. The reward of conquest must far exceed the gold/blood price paid. This is why very few empires dare attack islands like Britain/Japan/Lanka/Lakshadweep etc.


China is NOT an enemy of India. There might be minor border issues but China and India will be long term friends. I believe China will hand over Azad Kashmir and GB to India after taking over from Pakistan. We just have to pay the right price. Pakistan already sold Shaksgam valley to China. Pakistani leadership earned tons of money for the deal. Pakistan will sell Azad Kashmir to China and China to India very soon.

We want China to have a death grip on Pakistan's testicles, from which we can take total advantage. Pakistani govt and people have already fallen below all moral and ethical levels. https://www.wionews.com/south-asia/...yghurs-issues-pushes-kashmir-narrative-449017 IK seems to be the Shawn Michaels of Pak political arena. He is handsome and is a "sexy boy, not a boy-toy " but has no substance at all. IK agreed that it was acceptable to let China convert Uighur women to other religions and turn Xinjiang mosques into toilets as long as Pakistani elite(basically his party) were paid cash for it. He never specified the price per woman or mosque. Pakistan has been a virtual slave for couple of decades, but never has slavery been celebrated the same way as IK's slavery to China being celebrated by Pakistanis across the spectrum.

Sharif, Zardari and IK sold Pakistani soil, women, sovereignty for an unspecified price. We Indians do not want to turn mosques into toilets. We do not sell Muslim women to brothels or young muslim boys to ***-whores. We do not....blah blah blah blah blah!!! How much money will we have to pay to acquire Pak Occupied Kashmir and GB? We can rescure Pak from bankruptcy.