CHTanwar OP t1_j9z6a2q wrote
A little something for people offended that india buys russian oil
Trade is clearly a focus of the trip, but that there's another layer to this did not escape the German ambassador to India, Philipp Ackermann. He explained at a press briefing ahead of the trip: "India buying oil from Russia is none of our business. Basically, that's something that the Indian government decides ... what we would like to see, of course, is an Indian engagement at some stage."
source - DW(german outlet)
Shurqeh t1_ja0e6vn wrote
Dunno. Like China and Russia there is a strong desire within India to weaken the West's control over the world's financial systems. The sort of financial leverage they see us trying to use against Russia is what they fear could be used against them. Thats what lead them to join in the founding of BRICS which was, and maybe is, still making progress despite Russia's attempt to derail the project.
ScaryShadowx t1_ja0t58i wrote
Let's be real. The US will never willingly allow India to overtake them as a superpower and the moment they start making strides in that direction, there will be something bad about them that the US and the Western world cannot stand and will need to engage in a trade war, be it a different type of government, different geopolitical interests, or even plain old racism.
India being reliant on Western goodwill given the history of that same 'goodwill' is just shooting themselves in the foot. India needs to remain more or less independent, and treat the Western world as a business partner, nothing more.
PS: [Here is how the US treats it's 'friends' when they become competition - Japan in the 80s] (https://edition.cnn.com/2019/05/24/business/us-china-trade-war-japan-intl/index.html)
shipscomputer t1_ja0gohk wrote
Their foreign reserves are the same value as their national debt, basically if it's frozen then they can write off the debt and come out even. Then they're setting up bilateral trade agreements with vital partners that cut the USD out. They have a SWIFT alternative too. It's also a local consumption driven economy for the most part. I think they've already set themselves up to be financially independant.
Emperor_Mao t1_ja29zto wrote
Yeah but only because most Indians couldn't actually lose any wealth - because you can't lose what you don't have.
CHTanwar OP t1_ja2olpo wrote
it's not like all indians are poor. but yeah what you're saying is right. 75 percent of india's population is made up of poor farmers who couldn't give two shits about global impact on indian economy. as along as they keep growing food on their farms, make their own clothes and some of them also live without electricity so yeah. what mao and deng did in china was get the basterds out of the villages and into the factories but indian government can't do that. the rest 25 percent have a very good quality of life and they hold about 90 percent of the 3.6 trillion dollar wealth in india
redditu5er t1_ja1n7mv wrote
>Like China and Russia there is a strong desire within India to weaken the West's control over the world's financial systems
This is not true in case of India. Do you have any evidence to support this statement ?
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