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To: reaganixonbush

These guys are idiots really! Blamign rich countries! Hah! They wish they were the US or the UK themselves (ourselves - because I am Indian)

But having said that, I don’t think India or Brazil risk bankruptcy or needs US fund outlays to recover in the medium term. I don’t know enough about South Africa. 50+ percent of India’s GDP is based on domestic consumption but then again I am sure this consumption is fuelled by overall economic development that finds its origin in trade with the “rich countries” that these leaders are trying to demonize. Let’s bring it down to about 45% as being fuelled by pure domestic consumption. In terms of exports, farm produce and food is still a very high component Brazillian and Indian exports, I am not sure that people will stop eating because of the recession. A large part of the exports will continue to stagnate if not grow. Have you seen the share prices of McDonalds? It isn’t doing quite as badly as shares in sectors other are.


9 posted on 10/15/2008 10:43:53 PM PDT by MimirsWell
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To: MimirsWell

>In terms of exports, farm produce and food is still a very high component Brazillian and Indian exports, I am not sure that people will stop eating because of the recession. A large part of the exports will continue to stagnate if not grow.

Right you are. Just because Asian stock markets have fluctuated/tilted towards a “recession” doesn’t mean so. Japan’s Yen originally rallied bravely against the US greenbacks in the first week after the absurd bail-out, but average Nikkei index is close to a washout.

South Africa just needs a little hug, and Brazil’s exports to North America are a minimal 8%. India can take care of it self, and blaming rich countries is just an excuse for their inferior lack of action. Long live capitalism!


10 posted on 10/15/2008 10:55:39 PM PDT by reaganixonbush
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