comment posted on an article, "Our cheese has moved, and only we must find it " : http://www.indiatogether.org/2013/sep/eco-cheese.htm
Great analysis, thanks for the cheese analogy, it made a lot of things clear.
While the problem was described well, I think some more digging is needed in the solution phase towards the end. I think the author takes the continued existence, superiority & stability of US dollars for granted and mistakenly assumes them to be the proverbial cheese. They are fiat currency that don't have any long-term real basis. When the illusion ends so will the USD. In the long term, only self-reliance can protect us; not exports-imports. Those were supposed to be the extras! India was never supposed to be reliant on imports-exports for its basic survival!
Great analysis, thanks for the cheese analogy, it made a lot of things clear.
While the problem was described well, I think some more digging is needed in the solution phase towards the end. I think the author takes the continued existence, superiority & stability of US dollars for granted and mistakenly assumes them to be the proverbial cheese. They are fiat currency that don't have any long-term real basis. When the illusion ends so will the USD. In the long term, only self-reliance can protect us; not exports-imports. Those were supposed to be the extras! India was never supposed to be reliant on imports-exports for its basic survival!
No comments:
Post a Comment