jun 30th, 2011 CE
http://www.spiegel.de/international/world/0,1518,771338,00.html
jun 30th, 2011 CE
in my opinion, we need to have balanced growth with agriculture not been denigrated, and manufacturing not being elevated as bad and good, respectively. not that atanu is saying that, but i think i am more worried about agriculture based on food security issues as well as agri-business based employment opportunities.
jun 30th, 2011 CE
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Date: Wed, Jun 29, 2011 at 9:37 PM
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http://www.southasiaanalysis.org/papers46/paper4562.html
China-Vietnam Row on Spratlys in South China Sea - Lessons for India
By D. S. Rajan 22/6/2011
One can see that the intensity of the ongoing competition between China and Vietnam in claiming sovereignty over two disputed South China Sea island chains, the Paracels (Xisha in Chinese, Hoangsa in Vietnamese) and Spratlys (Nansha in Chinese, Truongsa in Vietnamese) is growing day by day. Beijing claims a vast sea area stretching from Hainan, its southern most province as belonging to it historically, whereas Hanoi argues that the two chains are Vietnamese territory since 17th century. As per known data, China has presence now in 9 locations in Spratlys, while Vietnam has in 29. Other regional powers are also involved in the dispute - the Philippines says that the two chains are its territories on the basis of their geographical proximity to it; Malaysia and Brunei view that the territories fall under their respective Exclusive Economic Zones (EEZ) as defined by the UN Convention of the Law of the Sea.
For all the claimants, the strategic importance of the South China Sea region has increased as current estimates confirm vast reserves of natural resources there – about 25 million metric tones of crude oil and approximately 25 trillion cubic meters of natural gas. The region is also home to important shipping lanes.
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| A V Rajwade: A vacuum of leadership |
| The PM's record has been lacklustre, particularly in the second term |
| A V Rajwade / New Delhi June 27, 2011, 0:09 IST |
In my last week’s column, I had discussed the possibility of the global economy facing “a perfect storm”. Nearer home every day’s news makes me wonder whether we are not facing something even more dangerous — a vacuum of leadership and governance. While talking about the United Progressive Alliance (UPA-II), Shekhar Gupta remarked in his column National Interest in the Indian Express (June 18) that “this has become our most dysfunctional real government in three decades.” (For obvious reasons, he excluded the governments headed by Chandrasekhar, Deve Gowda and Gujral). One felt sad that the first government since independence headed by a professional, who had acquired eminence in his own field, should have come to this sorry pass.
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In the 1980s, when I started writing about the exchange rate from a more economic, as distinct from market, perspective, I read Dr Singh’s doctoral thesis on “India’s export performance, 1951-1960, export prospects and policy implications,” which later grew into a book. It, inter alia, stressed on the relevance and importance of the exchange rate to export prospects. In an era dominated by export pessimistic economists (and hence the emphasis on import substitution regardless of costs), he was one of the very few voices to argue that, given a proper exchange rate, India’s export potential was significant. In the 1980s, when he was governor of the Reserve Bank, Dr Vijay Joshi of Oxford University, spending a couple of years at the Reserve Bank of India (RBI), developed the first REER model for the rupee’s exchange rate.
My third brush with Dr Singh was in the mid-1990s through my criticism of the monetary policy then followed by the central bank, taking real interest rates, even for AAA bonds, to double-digit levels! Deena Khatkhate (ex RBI and International Monetary Fund), his colleague and friend of many years, liked the arguments and sent the columns to Dr Singh, then finance minister of India. I called on Dr Singh on my next visit to Delhi, was received very warmly, and later he wrote me a very nice letter.
In the meantime, of course, Dr Singh, after spending a few years as the secretary general of the South Commission, was invited by Narasimha Rao to become the finance minister to steer economic policies after the 1991 balance of payment crisis. Later he was credited with having engineered India’s reforms of the exchange rate, trade and industrial policies post-crisis, which laid the foundation of the average 8 per cent annual growth of the last couple of decades and was a major “about-turn” from the earlier licence/quota/permit raj of a socialist economy. (To be sure, Dr Singh had not voiced much criticism of this over the earlier two decades. Perhaps he held such views in private but his loyalty and reticence precluded any public expression.) One has often wondered whether Rao should not be given far bigger credit for his political courage in introducing the reforms which, in any case, were driven by the IMF conditionalities.
In this background, one had great hopes when Dr Singh became prime minister of the UPA-I government, courtesy the Congress president. Since then, however, his record has been lacklustre, particularly in the second term — not that much was done in the first term other than the Indo-US nuclear pact. But this could be blamed on the Communist Party of India (Marxist) on whom the UPA-I was dependent for survival as the ruling coalition. He talked about administrative reforms on many occasions but nothing happened. Perhaps his first major mistake was in the acceptance of the National Advisory Council (NAC) as a super Cabinet. [Kapil Sibal has recently said, with reference to Anna Hazare and his so-called civil society, “we cannot have a parallel government” (The Economic Times, June 22). He overlooks the fact that the UPA has accepted a parallel government since its inception — in the name of the NAC.] Exaggerating only slightly, the result was that he became the prime minister with all responsibilities — but no political power. Perhaps few ministers considered themselves responsible to the prime minister — they held their posts at the pleasure of their respective party chiefs. Many of the scandals that have dogged the UPA-II perhaps originate in this.
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In an attempt to correct the situation, Hindus have already exhausted all other methods that form part of a civilized discourse. They have approached the executive branch, the judiciary, the legislature, and framed their ideas in debates. The other side is unwilling to listen and believes that it is entitled to special privileges under Indian law. In addition, it has also enlisted the media and academia in the West which believes that freedom of expression and a law similar to the “Equal Protection Clause“ in the American Constitution does not apply to Hindus.
When the Indian Government is insincere and the only way of calling attention to the egregious acts of the Government is to do unto others what the Indian Government does to the Hindus, it is the second `wrong' that will catalyse the removal of the first wrong.
Even this debate exists thanks to the very people who face criticism today. They were vigilant enough to discover the double standards of the Government and highlight them. Otherwise, the plight of Hindus would have been even worse.
Arvind Kumar
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jun 20th, 2011 CE
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