US is running a huge trade deficit. They can advise everyone else, but they have a huge problem at hand to control their profligacy. They cannot reign in on oil usage, with wastage all around. One gets the feeling, they believe they have a mandate for world oil reserves.
China cares too hoots for others. Their yuan rate is artificially kept low to boost their exports and run reserves approaching $1.5 trillion. They are already flexing their muscles and US and others will be at their mercy due to this factor.
India is caught in between. As always, RBI has to please many. If you act anyway, you are criticised. I believe they are doing a good job and have been prudent. They do not have much option, as our political situation is always up and down.
