Will Indonesia replace India in the BRICs?

[northeast]

whoa，it becomes 95% in 10 minitues，good job，indian！

 

[Hello_10]

whoa，it becomes 95% in 10 minitues，good job，indian！

I dont have anything written on paper. we generally say 95% professionals of Germany during usual talks but when you made a question here about 90% also, I confirmed that just join any engineering forum and ask someone based in Germany, US, UK. you will find, those who will support the claim will say 95% and those who will be against it, they will also accept that at least 90% engineering high qualified professionals working for German companies are migrants

as, its now clear that you won't have any Polish servent in Germany like India, Pakistan type countries? so, you won't have opportunity to ask someone living in Germany by face to face

 

[northeast]

lol，some indian forums？did you guys also get the story that 90% of NASA employee are indians and many such numbers from forum talks？
I guess so.

 

[Götterdämmerung]

it has two meaning, either you are not an engineering professional or you havent lived in Germany also. to inform you, we used to discuss in our office parties that there is just one country in the world who would be compared with India in terms of quality of its engineering professionals, it is Poland. and, as per what we knew there, at least 95% of high qualified engineering professionals of German companies are migrants, mainly Indian and Polish, and they want at least master level engineering professionals but they prefer PHD level engineers in different particular fields.

yes Polish migrants are in big number there doing low paid jobs also. but Please dont talk like a person of a developing country by saying "my cleaning lady is from Poland..............." a developed country is not like India or Pakistan that you can have a cleaning lady there. you are either at least a millionaire there, or, you never been to Germany..........

please dont take it otherwise. Im myself fully trained in doing cleaning works of the house, including toilet/ kitchen etc, the house I used to share with anyone else. we do full cleaning works of our house on weekends, cook by ourselves and keep food in fridge for whole week. go to gym and also keep in mind that we have to cook few things and sleep also. every weekends we had to clean cloths in washing machine and iron by ourselves, including maintaining garden also as per the rule of renting a house there. and a professional like me work for at least $100k..................

Sorry, I'm born and bred in Germany. So stop your BS or else provide official source!

Oh wow, a Russian lecturing me on Germany. FYI, my Polish cleaning lady gets 10 € per hour, she cleans once a week for three hours. In Berlin it's even cheaper, they get 7 € an hour. That does not sound to cost the earth to an average household in Germany.

Here is an article about Polish cleaning ladies.

Schwarzarbeit: Eine Putzfrau packt aus | Karriere | ZEIT ONLINE

Oops, you don't read German, but explains Germany to me.

BTW, it's embarrasing that you tell me how much you earn. Truly a third-worldler!

 

[laman12345]

India Rupee Big drop Link (LIVE):

55.4 now...

USD INR Chart | Dollar Indian Rupee Real Time Chart

 

[Götterdämmerung]

I dont have anything written on paper. we generally say 95% professionals of Germany during usual talks but when you made a question here about 90% also, I confirmed that just join any engineering forum and ask someone based in Germany, US, UK. you will find, those who will support the claim will say 95% and those who will be against it, they will also accept that at least 90% engineering high qualified professionals working for German companies are migrants

as, its now clear that you won't have any Polish servent in Germany like India, Pakistan type countries? so, you won't have opportunity to ask someone living in Germany by face to face

We don't have servants here in Germany like you in India, we just have a cleaning ladies or household help.

He can always ask me. I'm in Hamburg.

 

[kawaraj]

you will never find how things are that interesting.

at the moment, INR is the worst performer in global currencies (down by 1 per cent),
yet IDR is the best performer (up by 1 per cent)

ridiculously coincidental?

Asia-Pacific Currencies: Foreign Exchange Rates - Bloomberg

 

[Abingdonboy]

^^ you are aware that this "up" and "down" is common among currencies and a currency going up in value isn't nessercarily a good thing and one going down in value isn't a bad thing. There is a reason China has illegally pegged their currency at a artificially low rate.

 

[Chinese Century]

hey guys, the indian rupee just made all time lows again.

this is getting close to a full blown financial and economic collapse in india.

the indian regime cannot stop this collapse of the rupee. market forces are too strong.
how much does the regime have in FX reserves to prop up the rupee?
surely they must have burnt through most of their reserves to stablizise the rupee.

the inflation in india must be unbearable right now. official inflation is not a trustworthy number, the real inflation is probably close to 50%.

watch the rupee folks, report on its 'value' daily on this forum.

india is about to go through one of the world's biggest financial and economic collapses in modern times.

 

[Hello_10]

this is off normal scenario, economic theory doesn't work in crisis.

I advise you to check out 1997 Asia Financial Crisis.

I personally think US rating firms will downgrade everything India in a week. and Wall Street is gonna call hedgefunds to short your currency very soon. Have you sensed this depreciation is accelerating? I would say it's quite alerting. I doubt GOI will expending their reserves to save INR. it ends up average people suffer the loss.

Still my advice, if you have significant position in INR, you need make some precautions Right Now.

sir I studied about the financial crisis of ASEAN region in 1997 and there were many factors behind it. but the main one was, they forgot that an Asian country can't trust the Western investors. I mean, even if Britain might have over a trillion dollar foreign investment, they dont have to worry for foreign reserve much, but, ASEAN didnt have that much foreign reserve as it was invested there.

US had a policy to first invest in a country, give a sudden flow of 'Hot Money' and make them corrupt and take out that money through the sources like Swiss Bank and when these countries become unable to pay back the foreign investments, take out that foreign investment giving a free fall to that market, to that local currency.

India has as much foreign reserve that in case of any type of sudden withdrawal of foreign investments, it would hardly effect its health. and when rupees gets more depreciation, India stop importing Gold with reducing import value by a third, similar to early 2009 of recession period.

foreign reserve of India is $292bn, which is around 85% of its foreign debt, too much. just compare with Pakistan, its foriegn reserve is $16bn and foreign debt is $62bn? even outward FDI of India would be around $60bil?

Business Line : Industry & Economy / Economy : Global uncertainties hit Indian companies as outward FDI declines

 

[Abingdonboy]

^just saying it doesn't make it true!! Funny how not a single news outlet is even remotely interested in "the biggest financial crisi of modern times"!!!!!

 

[laman12345]

2011

Indonesia 4Q GDP = 6.5%
DATA SNAP: Indonesia 4Q GDP +6.5%


India 4Q GDP = 6.1%
India's GDP growth slows to 6.1% in Dec quarter, weakest in almost 3 years - The Times of India

 

[Hello_10]

Sorry, I'm born and bred in Germany. So stop your BS or else provide official source!

Oh wow, a Russian lecturing me on Germany. FYI, my Polish cleaning lady gets 10 € per hour, she cleans once a week for three hours. In Berlin it's even cheaper, they get 7 € an hour. That does not sound to cost the earth to an average household in Germany.

Here is an article about Polish cleaning ladies.

Schwarzarbeit: Eine Putzfrau packt aus | Karriere | ZEIT ONLINE

Oops, you don't read German, but explains Germany to me.

BTW, it's embarrasing that you tell me how much you earn. Truly a third-worldler!

if you born there then I tell you something, those whites who used to work in the Work Shop were hardly on around 50K.

I do say that many Polish are on low job categories as Poland is now EU27 member and anyone can go to Germany whether he is a high qualified professional/ business visa or not. but, I have lived in Sydney for more than 6 years and I havent seen ladies working in different houses like Lucknow..........

hmm it may be possible that in Germany it would be a truth. as they have too many from eastern european countries of EU27 members, who dont get welfare but want work there. im not sure

please back to the topic thanks

 

[Hafizzz]

Zakaria: Is India the broken BRIC?
Zakaria: Is India the broken BRIC? – Global Public Square - CNN.com Blogs

Last week marked exactly 10 years since the term BRIC was coined. The catchy acronym for Brazil, Russia, India and China used to describe the new powerhouse emerging markets. But the man who invented the moniker now says one of the four has been a great disappointment. No, not Russia, with all its recent troubles; not Brazil, whose economy contracted in the last quarter; and certainly not China, which continues to power on.

Goldman Sachs' Jim O'Neill says that the country that has been the biggest letdown has been India. He pointed out last week that India's inability to attract foreign investment could actually lead to a balance of payments crisis. From BRIC to basket case, "What in the World?" is going on?

Well, some numbers tell a troubling story. Growth has dipped below 7% for the first time in two years. The Indian rupee is Asia's worst performing currency this year, falling to a historic low against the dollar.

India's deficits are soaring and funding is drying up. India received less than $20 billion in foreign direct investment in the first six months of 2011. China got three times that amount. Even Russia, with the smaller GDP, took in more.

Why is India struggling? Sadly, the real problem isn't economics. India has a very dynamic private sector - probably the most dynamic in the emerging markets. But it has a government that simply doesn't work.

And it's not for lack of knowledge. India has the know-how. The government is, after all, led by a reform-minded world-class economist, Prime Minister Manmohan Singh. The problem is politics. The world's largest democracy seems to be paralyzed.

Singh's government recently announced a plan to open up India's retail sector to foreign investors, a continuation of the reforms that jump started the economy 20 years ago. The proposal would have made it easier for big Western chains like Walmart to set up shop in India.

Now, Indian agriculture is hugely inefficient. Middlemen take huge cuts, and because supply chains are inefficient, up to a third of farm products, vegetables for example, rot before they reach the market. So the Walmart model would transform India's agriculture and its retail sectors. It would empower farmers, lower prices for consumers and create huge gains in productivity.

But it was not to be. India's opposition turned this into a story of the big guy fighting the little guy, Walmart versus the mom and pop. Parliament was gridlocked for days, and politicians mobilized mass demonstrations. Small stores across the country were kept closed in protest.

So, what does the government do? Instead of standing firm, it backtracked and canceled plans to reform the retail sector altogether.

This is a depressingly familiar pattern. For two years now, India's government has done nothing, hanging on to power, presenting no plans to open up the economy, raise living standards, build infrastructure or attract new investment.

In the West, India's leaders sell the story of a dynamic, "Incredible India." But, at home, they pander to populist protectionist sentiment, dole out subsidies and do basically nothing. That paralysis is hurting the economy.

India's blessing and curse is that it has a messy, chaotic, decentralized democracy. Unlike China, it has no unified sense of direction. But the prevailing view has often been that when the going gets tough, New Delhi gets its act together. That's what it did 20 years ago when it was on the brink of default and a balance of payments crisis. Well, once again, it's time for urgent reform.

New Delhi has for years expressed pride in being part of the BRICs. If it doesn't get its act together, 10 years from now people might still be praising the BRICs, except that the "I" in BRIC might stand for Indonesia, not India.

 

[Infinity]

Congrats to Pakistan and yes India is doomed!! I would put Pakistan in Brics too making it Prics_B..

And Put Indonesia at i....................