It seems the Author has this perception that a higher Currency value automatically means a mightier power.
Based on this inaccurate perception his points, though well articulated, does not represents India's case well.
1USD = 150 Japanese Yen
But Japan is a 3rd or 2nd largest economy in terms of trade value.
No country can be an self-sufficient and self-reliant economy and it needs to balance well its Imports and Exports (maybe except North Korea)
The amount of FDI India has today is cause of the Service oriented work that the country has been exporting. Foreign countries are not interested in the development of our country and their FDIs are purely from self-need.
They need the massive manpower (and of course at cheap rate) so that their massive gigantic Corporations can compete well in this Free-trade World. (think China).
Ofcourse we need to carter our domestic market, but when the majority of this domestic market is lacking basic needs of life, who in the world would think they would be interested in export oriented products (IT Softwares, Laptops, Designer Textiles & Footwears, Leather garments etc)
Japanise economy is one of the highly inflated economy where having billions means nothing! They have become high-quality human robots delivering products for cheaper rates for western countries FOREVER! They dont have social life for Godsake!
Japanese work for foreigners and foreigners only. Japan as a country has highest suicide rate in the whole world. And Japan has lowest birth rate in the whole world. That tells you all about Japan.
RE:Very misleading article
by Anirban Sarkar on Jun 19, 2007 06:55 PM Permalink
let me also tell you that Japan has the highest number of people in the world who are above 100 years old...japanese are known to have the highest life expectency in the world...check this link, educate yourself and then post comments... http://news.yahoo.com/s/nm/20070618/wl_nm/japan_oldest_dc if exports mean working for foreigners and most Indians are "sickly" prejudiced like you then only God save Indian economy... :)
RE:Very misleading article
by Anirban Sarkar on Jun 19, 2007 07:13 PM Permalink
the number of people dying in india out of starvation should be 1000 times more than the suicide numbers in japan...i would prefer the 2nd largest economy with high suicidal rates rather than 6th largest economy which has most of the population struggling from malnutrition and worst still metros yet to find a permanent soultion to cope up with seasonal recurrence of malayria, dengue and God knows what other germs...
Japan and Germany are so lucky that they got defeated on 2nd world war. They didn't have to spend any money on defense since then. :-)
Japan was economic power even before 2nd world war. India started it late. But has done a pretty decent job.
On an unrelated note, life expectancy calculation is skewed by child mortality rate affecting the calculation. (i.e. Lets say a Man lives to 80 years. But another child dies at birth. Life expectancy would be 40 ((80 0)/2).) So countries where infant mortality is high are have low life expectancy.) On the other hand Life expectancy of 40 year old is practically same whether he is an American or Indian. As a matter of fact life expectancy of 40 year old today is only slightly higher than 40 year old lived in Shakespeare's time. (search on google on "life expectancy calculation skewed by infant mortality rate" for more info on this topic.
RE:Very misleading article
by Anirban Sarkar on Jun 19, 2007 06:45 PM Permalink
social life..... :) i thought we were discussing about currencies...anyways you can't deny japan is the the second largest economy in the world...their post office has a deposit of 3 trillion USD...three times the indian economy size...
Learn back economic principles before u comment. Stonger the currency, mightier the power. You automatically become superpower once your currency is global currency. (See euro - dollar fight)
RE:Very misleading article
by Anirban Sarkar on Jun 19, 2007 06:37 PM Permalink
Not necessarily... 1 POUND=80Rs...assuming linearity UK should be the strongest economy in the world which is definitely not the case...don't make a country's status directly porportional to the currency value...like pointed out above japan is the second largest economy and yen is widely traded although 1USD=150 Yen...
RE:Very misleading article
by Shiv Nagare on Jun 19, 2007 07:35 PM Permalink
Perhaps there is a mis-perception. The strength of a currency is not reflected by the arithmetical equation of its currency unit to the dollar alone. What is more important is the change in this equation. If the yen in 1980 was 700 to the dollar, and is 150 today, that shows that it is the equivalent of about four 1980 dollars today. That is strength.
