The world is sinking into a major global slowdown. This crisis was “Made in America”
America exported its toxic mortgages around the world, in the form asset-backed securities. America exported its deregulatory free market philosophy, which even its high priest. America exported its culture of corporate irresponsibility –nontransparent stock options, which encouraged the bad accounting that has played a role in this debacle, just as it did in the Enron and Worldcom scandals a few years ago.
Do you think, India and China are the two countries, who can save the world due to their
Old civilization, population, internal market, and, having good political stability. Of course,
Provided, USA allow them, to take over from USA.Your views, suggestions, or comments are most welcome.
Sunder Thadani,