Thursday, June 12, 2014

Modi's first international task?

From The Hindu WTO: Modi banks on BRICS:
"The Modi government’s first major international crisis is brewing at the World Trade Organisation (WTO) talks in Geneva, where even six months after the Bali ministerial conference, the United States has not allowed progress on talks to ensure permanent protection to India’s food subsidies from WTO caps."
C.P. Chandrasekhar in No help from abroad
 " With India’s integration with the global economy through trade and investment flows having increased significantly over the last quarter of a century, the days when domestic economic performance was relatively insulated from global trends are over. " 

Keynes in Globalization and self-sufficiency (1933):

"Ideas, knowledge, science, hospitality, travel – these are the things which should of their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible, and, above all, let finance be primarily national.
For these strong reasons, therefore, I am inclined to the belief that a greater measure of national self-sufficiency and economic isolation among countries may tend to serve the cause of peace, rather than otherwise."

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