Its too much......Why India and China are blamed.

Cddhesh · Last edited by Cddhesh on Thu May 15, 2008 8:05 pm; edited 1 time in total

"Developing countries of Asia like India China and are responsible for todays condition of Inflation" -President of the United States,Mr George W. Bush .
I don't know why he is behind Asian countries,mainly India,
"One should not be so much jealous about others development"
Well I think Bush has forgotten the past.Consider years after 2001, Big event occurred in September 2001, Attack on world trade center.and then what happened, Bush declared war on Iraq,without having any strong proof that Saddam Hussein or laden was there behind this attack,Bush attacked Iraq.US army destroyed many oil resources.Think of these days,see how prices of oil and petroleum products are increasing and as we know everything depends on fuel,Prices of all other things go in proportion with fuel.According to some survey US uses most amount of petroleum then other countries. Its 4 times more then Asian countries per day.
Educated person can easily understand what is the cause of inflation today.I hope Mr Bush has acquired his degree(bachelor’s degree in history and MBA) by good means.

Today X-President of Soviet Union Mikhail Gorbachev commented the same thing.I will not say it is his mistake.Its natures law,"If one dog barks others too start barking",Still many are yet to come in picture.

Well What all about India i can say is that,it is on right path of development.People have worked hard in the past and are living happy life.everyone likes to enjoys if he/she has money.That doesn't means that others should blame them for different causes.India is rich in all natural resources and agricultural production.I don't see any effect of good living of Indian people on inflation that has occurred these days.Well its time for Mr Bush to self examine himself.

akshar

I will fully agree with George Bush. The Backbone less Indian government is too ice feeted to strongly respond to this comment.

Inflation is caused due to increase in liquidity and consequently increase in demand. Let me tell Mr. Bush that per capita consumption of Food items and petroleum products is much much lesser than that of US.
Refer : http://www.swivel.com/graphs/show/20201879?limit_modifier=all&graph%5Blimit%5D=19&commit=%3E

I agree the figures are old but even doubling the India's figure is not going to make any change.

Countries like US, Britain has squeezed the resources of world for a century now. They put in maximum pollution in air as well. Poor Asians lived a poor life for last few centuries. For West India and China meant poor people ready to work for as little as a penny. Not that things have changed today but to put in an English poets words "The Sun has not rised yet , but people have started looking at East (literally and figuratively)"

I dont expect Mr Bush to say it but he should have said that "India and China are still not getting their share of Food and Petroleum resources, Let us work together to give them their share"

mk12327

Personally, I felt that it is not entirely the developing countries to blame... the rise in food prices and inflation is largely to be blamed on speculators and capitalists who invested so heavily in commodities with the falling dollar. It is these very speculators and capitalists whom investments made the commodities (which eventually are the ingredients for making food) rose by the day, and even by the hour.

As ingredient prices rise, it is naturally for the vendors to feel the pinch and rise the food prices in response...

nigam

I agree with you mk12327, it is not entirely to be blame by them. The fact is that the one who ruled the country. If only they do well for the benefit of his people, success of his fellowmen, no corruptions indeed, then none should suffer by this situation that we all are having right now.

showry

Cddhesh is right, I agree with you.

deanhills

Some of it is true and some of it is false, but it is definitely a fact that Chinese products have been flooding the markets EVERYWHERE in the world. Cheap products undercutting better quality products. For example a year ago I replaced light fittings in my lounge and thought I got Italian ones until they were installed. About half of the fittings did not fit, i.e. the holes were not corresponding with the screws, etc. and then was told that I was getting the fittings as cheap as I did as they had been Chinese ones. Think there are plenty stories like that. I used to love a store that had higher quality cleaning equipment and about a year ago they completely replaced all items with items from China. Went from quality to plastic.

Back to economics and common sense. If there are more goods flowing from China to the world than from the world to China, then obviously economies are being shifted in one way. Bush does have a point there. I must say I have not seen as many Made in India products, other than the usual textiles. As far as Bollywood is concerned, that is a top-notch industry. They are providing an excellent service. Some of the movies are much more creative than Hollywood's.

But all and all possibly everyone has been partying too much. Probably time to knuckle down.