Barrack Obama and USA rubbed our nose to the ground recently when Obama visited China. In fact, Obama has been pillored by his own countrymen for bending his knee so much to Japan and China. In fact, he has been accused of reducing the global stature of USA during his recent Asian Trip. To please China, Obama signed a joint statement where he sought for China's mediation in Kashmir, a grave insult to an emerging power like India.
One would have expected our Prime Minister to flex his muscles while he is in USA. The time was right. USA economy is in pits, Dollar is sliding alarmingly, and both economically and militarily USA has been weakened considerably.
Everyone's uncle and aunt knows that Dollar is in serious trouble as an international currency. And it was to our national interest to tell Obama and USA where they stand. After all, we have been at the receiving end of a condescending USA for decades and they have lectured us regulary as to how to run our country and economy.
If Dr.Singh had made the right noises about weakeing dollar, this would have sent shockwaves across the world, for the world sees him as a 'qualified' economist. But instead, this wimp had to go and give an interview to CNN endorsing Dollar and the US economy. If he thinks that a grateful USA will view India with a favourable eye after his shocking interview (and think of it! this is the guy who dare not give an interview to indian media about Indian Economy!!!), he is living in a fools paradise. Because USA has time and again shown that they can use India as a doormat and will not hesitate to do so. For them, Pakistan, China are the only two countries that matter in the Region.
Just for the heck of it, I had a look at the resume of Dr.Singh. I reproduce the main jobs he has held with the Government and have given my own comments in the bracket. This will puncture the hot air balloon that he is a top notch economist,
1971-72: Economic advisor, ministry of foreign trade -(Nothing Earth Shaking happened to Foriegn Trade during this period)
1972-76: Chief economic advisor, ministry of finance - ( A period which set India back by 20 years. Massive nationalization, followed by retaining his post during the notorious Emergency in 1975-76, when even private sector companies were harassed and taken over left, right and centre. This was the beginning of the notorious licence raj. So much for his reform credentials)
1976-80: Director, Reserve Bank of India; Director, Industrial Development Bank of India; Alternate governor for India, Board of governors, Asian Development Bank; Alternate governor for India, Board of governors, IBRD - (Changed his economic ideals on its head by opening up the sector for small and medim industries during Janata Party period and reverted back to Indira mode of license raj in 1980 within the blink of an eye. In short, he held important economic posts during the crucial 70s when our economy was taken to the cleaners)
April 1980 – September 15, 1982 : Member-secretary, Planning Commission
1983-84: Member, economic advisory council to the Prime Minister
January 15, 1985 – July 31, 1987 : Deputy chairman, Planning Commission - ( Again he was in crucial positions in 1980's where he could have made a difference to the economy, but hardly made any contribution and by the end of it all, India was in deep deep trouble. )
Now one might argue that he unleashed the reforms. But I beg to differ. He was just being obedient to his Masters, the USA, World Bank and IMF. He carried out what they wanted him to do. It is no secret that IMF virtually dictated to PV Narasimha Rao that it will not accept anyone other than MMS as Finance Minister. Also, two decades after reforms, we still have 60% of the people below the poverty line, which is a crying shame and an indicator of the 'spectacular success' of the MMS led reforms. Inflation is sky high, food shortage is looming, GDP growth has slowed down, fiscal deficit has increased alarmingly, government has taxed everything under the sun that there is nothing left to tax other than sex, and black money is ruling the economy. And we still sing paens about our 'economist' Prime Minister!!!
So, I am least surprised by his statement supporting the dollar. That is precisely what you expect him to do. Be the HMV (his masters voice - remember the logo?).
Isn't it ironic that we shunned USA when they were becoming a Global Super Power and now court them when they are declining at bullet train's speed??
