G-20 Meeting: India and China roles

Wednesday, November 12, 2008

In a previous post, India & G-20 meeting, I argued  that India and China should not go to the November 15 G-20 meeting 

Since you are going to be robbed, there is no point showing up at the scene as ordered...
The Chinese have brilliantly gone ahead and spent the money with their $586 billion stimulus package ahead of the November 15 meeting.  The Chinese Finance Minister was called away from the G-20 meeting in Sao Paulo for an emergency, spent 30 hours on a plane back to Beijing, was told he is not going to Washinton on November 15 and a day later the stimulus package was announced.  Bravo!

Of course everybody is still telling China what they should be doing with their money..it seems the Chinese have their own ideas and will not be robbed.

Here are two articles on the China decision and economic situation:
All the treasuries in China
China needs a true change of course

Fortunately for India, we don't have a lot of money...but it would be prudent to padlock our natural resources and jail all the ministers with any signing authority before the developed world robber barons descend on us post Nov 15, 2008.

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2 Post Comments:

NK said...

Lee nice blog.After having a look at ur articles i feel u are missing something in predicting a bottom is near.What makes u think that this market is as same as other bear markets? We are in a global downturn and though fundamentaly india is on a secure wicket, the deleverging which is going on will take sensex to below 3000.Lets See.

Lee said...

Lee here:

NK
I agree we are in a deleveraging cycle globally...my point is that India is not leveraged...quite the contrary...so there is a lot of cash looking for opportunities...as the West deleverages, India is looking better and better as a destination. In this environment, anything is possible though.

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