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Hillary Clinton Proposes India-China-US Relationship among India, the US and China. “We know this will not always be easy. There are important matters on which we all disagree, one with the other. But we do have significant areas of common interest. “Ultimately, if we want to address, manage or solve some of the most pressing issues of the 21st century, India, China and the US will have to coordinate our efforts,” she said. The Secretary of State answered questions on Indo-US ties, India’s role in world affairs Hillary Clinton is a tad bit late in proposing a trade relationship, as India and and the recent US spat China has already started forging relationships in defence, tourism, sports, and with Pakistan over its cultural interaction arenas in early 2011 approach in dealing with terrorism. WASHINGTON (ET): Secretary only of South and Central Asia, but Appearing to soft-pedal the of State Hillary Clinton today also of the Asia Pacific, she said proposed a “strong, constructive” urging New Delhi not just to “look strain in US-Pak ties, Clinton said Washington was deeply committed relationship between India, China East, but to engage East”. and the US to solve “pressing Outlining a new US thinking, to long-standing relationship with issues” of the 21st century. 63-year-old Clinton said here that Pakistan “despite the complexities India’s leadership will “help to her country was committed to a and challenges that sometimes shape” positively the future not strong, constructive relationship arise”.
India has More Affluent Households Than Europe
NEVADA(NTI): India and China have overtaken many European countries in the number of affluent households, according to a new Global Affluent Investor study by leading market research company TNS. India appears in the top five countries where the affluent have more than 1 million dollars investable assets, study points out. Reg van Steen, TNS Director Business and Finance, comments: “...emerging markets will become new centres of affluence in coming years. India and China have already surpassed major European markets like Germany and France”. But there is big contrast in wealth
distribution as only around one percent are affluent in India. Among 80 percent if affluent households in India, men are the primary decision makers. Indian investors are keen investors in precious metals. Meanwhile, Indo-American statesman Rajan Zed, in a statement in Nevada (USA) on Sunday, said that although India was on track to become a global power, but her new prosperity had remained evasive for many. Despite economic miracle, many Indians still lived in desperate poverty. Inequalities in opportunities blocked poor people from participating in the growth process and they remained trapped
in vicious cycle of poverty. It was blight on a country, which prided herself on having joined the league of hottest growth economies. Zed, who is Chairperson of Indo-American Leadership Confederation, also appealed to India’s billionaires/millionaires, who had enormously benefitted from India’s economic growth, to pledge some of their wealth to charitable causes aimed at poverty eradication. Zed urged India to wake up and deal with her monumental poverty crisis at an emergency level as according to an estimate, about one third of world’s poor lived in India.
Poverty Bane in Economic Boom
test than may be practical in what By Coomi Kapoor CHENNAI (Star): Two decades is the world’s biggest dysfunctional after India abandoned the licence- democracy. Economic prosperity can be quota-permit raj for an openmarket economy, the jury is still measured by the evidence of those out on the efficacy of the new who had a bicycle in the early 90s now ride scooters and motorcycles, economic system. For the second fastest growing while those with scooters and economy in the world, India motorcycles have graduated to has a record number of people cars. Now, invariably it is the car living below the poverty line. Rising living standards and a huge owner who is part of the middle increase in the middle-class numbers have failed to hide the groaning poverty of well over a third of the billion-plus people. Quality education and health services are still a distant Hyundai factory in Chennai, India, sign of affluence dream for a vast majority of people, though class while the one with a scooter everyone in some way has benefited or a cycle is generally clubbed with from what the economists love to the lower middle class. In the past India barely produced, call the trickle-down effect of faster economic growth. Yet, economic annually, 20,000 cars of shoddy disparities have grown in the last quality in the pre-reforms years. Now, it sells more than 20,000 in two decades of liberalisation. Officially, the percentage of less than a week. There was a waiting list of 10 people living below the poverty line, that is on less than a dollar to 15 years for a basic model of a a day, is over 33% of the total Fiat or an Ambassador then. Now, you can buy the Rolls Royce, population. There is no death from starvation Jaguar, Porsche, BMW, Mercedes anymore. Food stocks are plenty off the shelf. India is an attractive and governments have been quite market. Back then, there was a decadesgenerous in providing highly long waiting list for a land-line subsidised rations to the poor. Yet, people sound far more telephone connection from the aggrieved, even angry, now than state-owned monopolies. And, they had when India was growing of course, there were no cellular at a mere 5% to 6% in the pre- phones. Now, India boasts of over reforms years. The 7% to 8% 800 million cell phones and the average growth recorded in the two cheapest tariff possible in the entire decades since the liberalization has world. State-owned telephone raised aspirations, and led to the companies are in huge losses. Foreign travel was a dream growth of some 300 million-strong middle class which, traditionally, those days when airfares were tends to be critical of its leaders prohibitively high and there were and tries to hold them to a sterner Continued on page 30
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