Tom Friedman has interesting discussion about China.

New York times Columnist Tom Friedman has an interesting discussion about China.He is explaining how many of the bubble problems in china may not be problems at all.In china as they move up the production in higher value goods instead of exporting Jobs and factories they move them to hinterlands of china and move and enlarge the engine of growth.Its large pool of capital in the hands of the communist state which is quite apt at using money and ideas for public good unlike America where is always bottle neck of ideas .In the short run it seams that communist China is eating our school lunch and is bullying all our large enterprises with its state enterprises and we do not know what to do other than hand our lunch to them.Most of our manufacturers have surrendered to china the ability to produce the goods and seems like without a fight.They have understood our economic system and are using it to their advantage and we in our arrogance are unable and unwilling to understand and compete with them in a way which will keep our country with a high standard of living and make changes where we remain masters of our destiny.

This crisis of confidence leave many other nations in the world which have not benefited from the technological and socio-political advances wondering and questioning the free enterprise of west which has not always delivered the goods and services to the needy.Now China is exploiting the resources of the poor nations and depriving them even the meagre wages as they are bringing their own manual workers which they have in plenty in the hinterlands.
China has developed to a level where it will do fine.I hope more freedoms will come to its citizens .It has done many things well it believes like the Marx and i am paraphrasing it that capitalist will sell you the gun and bullets to shoot them with it.Is our system so bankrupt.

US India nuclear deal and distractions

All the issues raised and decided in US India nuclear trade deal should be honored and America should avoid becoming victim to the tendency of ill seekers to HIGH LIGHT only the sticking points of the deal.Every opportunity they get in any form they want to create appearance of rift between India and its democratic allies all over the world.

It is well known that most blatant abuser of NPT regime and proliferation has been Pakistan( A.Q .Khan) and China.China has provided most of the Pakistani equipment for the bomb and fuel technology and continues to do so By redirecting American aid .Case in point Pakistan,North Korea,Iran, Libya(now stopped).

These Detractors do not want India to succeed .They find India as competition and challenge in ideas and want it to remain a lower rung state in the assembly of nations.Most people do not realise how lack of electricity has hindered India's growth and kept its people uneducated and poor.Lack of electricity for light has deprived youth of critical study time in the night. Any body who delivers electricity will be hailed as important contributor to India's development, with the nuclear deal if executed Mr bush will become just that.India's nuclear power production has remained anemic in last 20 years because of strict restrictions imposed on it by the world.

BY design India and Pakistan has been put in same category and Pakistan has received lot of aid by manipulating the system and Pak China alliance has been successful in keeping check on India's progress and world has been hurting for that.India is unique in the sense that it has succeeded in developing democratic society in spite of being poor and under educated.It is a wonder in governance.India looks up to US as a role model in individual freedom and human progress. If education is the equaliser of the people.I am sure that education,family planning, health,nutrition are very important pillars of development. Most important to deliver these may be power generation.

Nuclear is carbon neutral and can be easily added to the power grid .There are non centralised ways to generate power like wind and solar they should be exploited but for some silly reason not to allow sixth of worlds humanity to have enough electricity is just crime.

IT IS STRANGE THAT CHINA A (COMMUNIST REGIME WITH STATE CAPITALISM)IS ALLOWED TO BE MEMBER OF SECURITY COUNCIL AND CAN TRADE WITH THE WORLD COMMUNITY AND INDIA HAS TO GO THROUGH THE HOOPS FOR SIMPLE TRADE .It can be easily seen how high moralising can fail us from being moral and fair.

Paul Krugman nobel laureate explains as goldman sacks, suck

One of the Confucius's laws of common sense says when Nobel laureate Paul Krugman speaks listen. Professor Paul Krugman a columnist for NYT and economist last week in his article talked about how Goldman Sacks is making lot of money and has made lot of money in trading in financial instruments it created .The business they are in is described by Paul as Securities, commodity contracts and investments.

They have made a lot of money by mixing risky and non risky assets and then selling them as lesser risky instruments .Then they shorted them as their value was plummeting and we were left holding the bag.Mr Krugman is clear that what Sacks does is bad for America period.

We have not made changes in the system and will pay for larger price in the future.Sad no body is paying attention to it.There were banks which were trading in credit risk insurance as if it was a commodity of its own and in the process multiplied the risk to the system.In realty actual risk was multiplied in this process.
It would be OK if Sack believed in this product they created .No instead they benefited by shorting these securities knowing well they it was sub par and shoddy product. Not only that they are in line to give largest bonus to its select employees when national economy is bleeding. http://www.nytimes.com/2009/07/17/opinion/17krugman.html?emt.
HATS OFF TO MR KRUGMAN FOR SUCH A BLUNT ARTICLE