Savitri Era of those who adore, Om Sri Aurobindo and The Mother.

Monday, December 22, 2008

They’re all over 80s, we have just had puberty

Create Wealth: Rakesh Jhunjhunwala, Raamdeo Agrawal ideate
Investment Guru Rakesh Jhunjhunwala, Raamdeo Agrawal of Motilal Oswal and Sanjoy Bhattacharya of Fortuna Capital, spoke to BSE, NSE member Ramesh Damani and tried to find the answer to an important question––Who creates wealth...

Jhunjhunwala: People talk about deflation, lower inflation – they compare us with Japan, America, and Europe – they’re all over 80s, we have just had puberty, we are young economy.

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And I say that on that crucial dimension, it is not an American world anymore, it is the post-American world. If the US wants to change the outcome in Afghanistan today, it will find that it cannot do it on its own. If it wants to change the outcome in a lasting way in Iraq, it will need to involve the neighbours, including Iran. If it wants to change the global financial system, it will need China. Take that one country. If the US doesn’t get cooperation from China on the global economy, it is impossible to do anything. Now that’s a very different world from 10 years ago. When the Asian economic crisis happened, Washington issued fiat after fiat, dictating to the world what it should do. That world is gone.

Indian Express > Fullcoverage > Walk The Talk > Monday , 22 December '08
‘Pak military can only be reined in by itself. No civilian govt there ... He is among the most prominent public intellectuals of Indian origin in the US. In conversation with The Indian Express Editor-in-Chief Shekhar Gupta on NDTV 24x7’s Walk the Talk, Fareed Zakaria discusses everything from the economic downturn to the post-American world, the challenges before President-elect Barack Obama and Indo-Pak relations

I think they made us realise — and this is an old lesson that the British learnt by the end of their empire — that you can have these extraordinary superiorities either technologically or numerically but the question is, what are you trying to achieve? If the object is to kill lots of people in a foreign country you can achieve that. If the object is to assert local control for a party, to change an outcome on the ground, that is a political task, and we haven’t yet invented high-tech politics. We may have invented high-tech military.

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