Monday, June 11, 2007
Putin Challenges the Economic Order
Russia's Putin is challenging the economic world order, by calling for the formation of an alternative organization to the WTO and the IMF. Pretty gutsy, if you ask me. He criticized the fact that developed countries which claim to want free trade are now the greatest sources of protectionism. He's also calling for more diversification of currency holdings, away from the current dominance of the US Dollar and the Euro. This is certainly something India should take a look at, instead of completely kowtowing to the US.
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Another article on Putin's proposal:
http://www.financialexpress.com/fe_full_story.php?content_id=166791
The man is definitely onto something.
this should prod the yanks into discovering some alternative for hydrocarbons. they are in thrall to the arabs for oil and gas, and now the russians have the europeans nicely cowed down for the same.
solar energy ki jai!
but i'm glad to see the russians throw their weight around a bit. not because they are india's best chums. but this will give the chinese some sleepless nights. they will have to take russia into the reckoning; they had dismissed them as passe.
The Chinese are well on their way to tapping Kazakhstan's vast oil supplies. As a manufacturing superpower, they're way ahead in the energy game, having left India in the dust along with its begging bowl.
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