Tuesday, February 12, 2008

Evident Desperation in US over non-closure of 123 ...

The past week had many ups and downs, the fortunes of the contenders for the US presidedncy tilted as never before and sooner than later, we could get a clear picture as to who is gfoing to climb the steps of the White House in Jan of next year. The stock exchange of Mumbai and all over the world took severe beating  as US FIIs started booking profits from the develping country stock exchanges and withdrew large amount of stocks from the stock exchanges. The immediate aim was to make good the suprime losses. It is not to say that they would never come back. It was during such a time in the 80s, that we saw the 'tiger' economies of South East Asia crash.

Two important events of the past week in the world economic and political spheres have been the utterances from two top US diplomats, one the US ambasador to India David Mulford and the other the already resigned US Under Secretary of State, Nicholas Burns. Both of them unashamedly have bargained for the private businesses of US, who appear apparently to be their paymasters and not the US public. When it is very clearly known that India could not be bullied or pushed to the corner for signing on the dotted lines as regards the 123 agreement of the US, the fact that both these top functionaries of the now terribly failed and disgraced Bush administration, have been quite frenetically trying to push the nuclear deal through with the US government, even though it meant being unclear and vague regarding the clauses and implementation details of the deal, shows beyond doubt the desperation and urgency for the.present administration to seal the deal and gain the political advantage.

That the deal is a dead log of wood i India and cannot be reclaimed for any sort of discussion and reactivation is a public secret. In those circumstances the unintelligent and threatening tone of the former and the pleading note from the latter, is a curious event being closely watched in Indian political circles. Will the Indian political establishment be ready with an easy snub for these top diplomats of the Bush administration needs to be closely watched and observed over the next few weeks.

Kind regards,

George Easaw 

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