shipscomputer t1_ja0gohk wrote
Reply to comment by Shurqeh in German chancellor visits India to boost India's relations with the west and possibly move India away from Russia. by CHTanwar
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
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