JNU Professor Manoj Pant asks in ET probably GOOG questions yet still in Keynes ilk dynasty. Consider his questions;
“Are we in for four to five years of bad times as in the ‘thirties and how important is the US to the solution?
Second, what role can India and China play in any recovery?”
Any one heard the following joke at least as of now.
“The usual argument is that the US was living beyond its means as reflected in its huge and growing trade deficits. (One has been hearing this at least since 2000!)
The main problem in unilateral trade protectionism is that it is then extremely irrational for any one country to reverse protectionism: only multilateralism works.
The Great Depression shifted focus from the Commonwealth countries to the US. Will the next shift be to Asia? Is India ready? Only time will tell”.
However the last two paragraphs may not be a joke but debatable one.