India critical of Barack Obama's comments on economy

[alp227]

Source: BBC

India has criticised US President Barack Obama for saying that Delhi restricted foreign investment in "too many sectors".

In an interview with the Press Trust of India Mr Obama talked of concerns about the "deteriorating investment climate".

Corporate Minister Veerappa Moily said Mr Obama was "not properly informed" and blamed "international lobbies" for spreading negative information.

India has been struggling to cope with a slowing economy.

Read more: http://www.bbc.co.uk/news/world-asia-india-18852384

[Skittles]

1. fuck India

[MrSlayer]

2. Seconded!

Fuck them.

[davidwparker]

3. Thirded! n/t

[progressivebydesign]

18. Fourthed. n/t

[Douglas Carpenter]

4. it is not a matter of "fuck India" it is simply in the interest of India's financiers for America to

outsource more production and more jobs to them while limiting American access to Indian markets It makes complete sense that they are concerned about President Obama's protectionist talk. However, outsourcing production and jobs to them is simply not in the interest of the American worker.

[DainBramaged]

6. Fuck India

We can't buy anything there, but they own most of the motels and 50% of the 150,000+ gas stations and convenience stores around the country, and they complain that the President is wrong? (Google is your friend) On top of their vigorous lobbying for outsourcing of help desk and IT jobs?

Fuck India

[Douglas Carpenter]

8. so are you disagreeing with me that this is in the interest of India's financiers? or are you

Last edited Mon Jul 16, 2012, 08:53 AM - Edit history (1)

disagreeing with me about outsourcing to India not being in the interest of American workers?

[DainBramaged]

11. I agree

Fuck India

They will open their protected economic doors one day just like China did. Or be stifled.

[liberalmike27]

10. Simply

Not in the interest of "America."

What is America, if not Americans.

[JonLP24]

16. My understanding of the article

Is exactly opposite of yours'. From what I gather, they don't want to open up their markets, retail, so the Americans can came in and "make a profit". Also I don't see how it is "protectionist" talk when Obama was saying India was too restrictive(which I think is another word for protectionist&quot

[fasttense]

5. This is ALL ABOUT WAL-MART. It's code for let US corporations turn India into Wally World.

The Indian economists are correct. Obama is misinformed by US corporation like Wal-Mart who lobby endlessly to take over retail sales in that country. Wal-Mart has been the destruction of small Mom and Pop retail stores here in the US and Wal-Mart wants to do the exact same thing in India. India's economy is growing because they have NOT turned their retail sector into a "free" market, neoliberal paradise.

Obama said: "The time may be right for another wave of economic reforms (means deregulation)to make India more competitive in the global economy (means let our corporations do whatever they want in your country)."

Yes, India willingly accepts all the outsourced jobs our US corporations can throw at them. Because our corporations love nothing more than cheap, cheap labor. But that does not mean they have to accept the destruction of their retail sector by Wal-Mart.

[DainBramaged]

7. Can I buy a gas station in India?

just asking......

[fasttense]

14. No one forced the US into turning their markets over to every Tom, Dick and Corporation.

What right does any corporation have to access our American markets? We the people provide taxes to maintain transportation, court and enforcement systems, power infrastructure and much, much more. Without we commoners, there would be no markets. No foreign or local corporation has a right to use these systems (for free mostly) without our explicit approval. And yet they do.

Our economic policy acts as if somehow all the infrastructure to provide for smooth functioning markets are free and should be shared by every greedy fool who can invest money. The truth is the US has NO economic policy. It is a free for all and that is why we are still suffering the worst economic slump since the last RepubliCON Great Depression.

[DainBramaged]

17. Can I buy a gas station in India, that was my question

[fasttense]

19. No but you can outsource American manufacturing jobs to them.

And pay them a whole lot less than you would an American worker.

Over 300 American corporations sell their crap in India. Monsanto is making farmers' lives miserable over there by selling their GM seeds and dangerous pesticides to them. You can't own a company without partnering with an Indian citizen but you can still ruin their economy by releasing dangerous chemicals (that the US wouldn't allow you to release here) and cheating farmers.

See globalization is a win-win for everyone.

[DainBramaged]

21. Thanks for the answer, but I already knew it

They want to bring their shitty cars here but we can't bring our cars there.



Fuck India

[obnoxiousdrunk]

12. Please stop making

sense. All your supposed to say is Fuck India.

[FrodosPet]

20. Yeah! Fuck India! Hoooo Hahhhh Semper Fi!

How DARE they do what people are saying the United States should do?

The bastards are supposed to be looking out for America first, and THEN themselves.

They need to shut down all their call centers and programming houses. Support the American economy, and we will send them foreign aid.

[davidpdx]

9. I am a doctorate of business student

and my current mentor is from India. As an undergraduate I had a professor from India as well.

I will say that Obama is correct that India has put restrictions on investment in certain areas. One of those areas is retail which is what my doctoral dissertation will be on. Getting countries to open their markets is not as easy as it sounds. It took South Korea (where I live) until the 1996 to fully liberalize the retail industry.

Wal-Mart has been trying to get into India, but has been unsuccessful. I'm not sure if Tesco is India or not.

It may be another decade before India realizes they have to open their markets.

[fasttense]

13. I see you have been studying "free" market economics.

There is no such thing as free markets. All markets are a creation of governments. Before governments, there was only he who has the most soldiers has the most stuff because he can take it away from others. Since governments are required to create markets why not control those markets like you control traffic on the highway?

Why does India need to turn their retail stores into Wal-Marts? It has not been good for the American people. It has turned once decent jobs into minimum wage ghettos. A race to the bottom to see who can pay the least while selling the most junk made off of impoverished labor pools. Liberalizing has severe consequences one of which is high unemployment and another is very low paying jobs. India does NOT have to open its markets. The world and the country will survive just fine without destroying small retail sales stores. We had prosperity before Wal-Mart and we can have it again if we put up restrictions like India does.

Neoliberal or "free" market economics is a disastrous failure. This country has tried it. It has destroyed decent jobs and put the whole global economy into a huge recession. Too bad they are still teaching such crap as neoliberal economics in business schools.

[davidpdx]

22. I actually read a variety of things

from Naomi Klein to Robert Reich to Paul Krugman. If you want to read a really good book try 23 Things They Don't Tell You About Capitalism:

http://www.amazon.com/Things-They-Dont-about-Capitalism/dp/1846143284

It was a very well written book by a Korean author who uses South Korea as a prime example of what you are talking about.

Look up POSCO Steel on Wikipedia and read that background on that company.

By the way, my response was aimed at the people slamming India.

[magic59]

15. It is true, India has very strict trade policies

Can't blame India for looking out for its own workers. Something the US gov should have done for its own citizens decades ago. For us it started with Nixon opening up trade with China at the behest of Pepsi. We all know how that turned out, decimating the US middle class and manufacturing. Same policy with India and others. Those countries didn't fail us, our own corporate run government did (with the help of idiots like the koch brother T-baggers and swift boaters, rolling thunder, ect...).

[CBGLuthier]

24. Funny thing that, India does EXACTLY what many think we need to do and THEY are the bad guy.

[CBGLuthier]

23. Oooh I love Indian topics as I am a connoiseur of "liberal" racism.

Something about India that really brings it out uhmm uhmm yummy.