#US ##印度 #
Text/Feiyun
The Russian-Ukrainian conflict has had a major impact on the world economy, with Sri Lanka in the Indian Ocean becoming the first country to declare bankruptcy this year, and india, economically heavily indebted, as the Federal Reserve embarks on a new round of monetary tightening, is likely to become the second Sri Lanka.
According to the Global Times quoted by Singapore's Lianhe Zaobao, due to a variety of factors, global funds are withdrawing from India, which means that India is about to enter the situation of "foreign investment shortage". It is understood that as early as the beginning of the new crown outbreak, India's total debt has reached 89.61% of GDP, which is very similar to today's Sri Lanka.
The Financial Times has given a set of figures that since october last year, foreign investors have dumped $33 billion worth of Indian stocks, converted to about 2.62 trillion indian rupees, a significant portion of which comes from the United States. For many years, India's economic growth has been highly dependent on the US dollar foreign debt, although the West often sings the praises of India's economic development, and has repeatedly praised India's high potential to become the new "world factory", but India's high foreign debt, low reserves economic structure, making this goal far away.
(Indian Prime Minister Narendra Modi)
In fact, it is not uncommon for Wall Street billionaires to withdraw capital from India, and the "commodity king" Jim Rogers recently criticized India's poor business environment and even understanding the economy, and he himself stopped investing in India as early as eight years ago. Before the outbreak, India's economy was heavily dependent on the dollar's external debt, but India's de facto foreign exchange reserves were so poor that they could not support the amount needed to import goods.
Now, affected by the impact of the epidemic and the conflict between Russia and Ukraine, the US economy has shown signs of serious regression, and landlords have no surplus food. In response to the growing problem of inflation and rising prices at home, the Federal Reserve began to raise interest rates, and under leverage, it was the dollar's sharp harvest of global wealth.
For three consecutive years, the Indian rupee was the worst-performing currency in Asia, while the United States, in its introduction of policies to alleviate the domestic crisis, did not consider the lives of other countries at all. On the one hand, the Fed raised interest rates, and on the other hand, U.S. capital actively withdrew from the Indian market, which made the situation in India, which was already short of foreign exchange, worse.
(Indian Rupees)
According to the British Economist magazine, India's current economy is in its most pressing situation in 25 years, which means that the Indian economy is at risk of going backwards by 25 years. The reason for this situation is the influence of dollar hegemony on the one hand, and India's inability to deal with economic problems on the other hand.
In fact, the governor of the Indian Central Bank has realized several years ago that the Fed's interest rate hike will have a major impact on the Indian economy, and the Indian side has shouted many slogans to revitalize the economy, but it is always counterproductive to do so, and the dependence of the Indian economy on the United States has never changed, which also lays a deep hidden danger for India's weak economic situation.
The United States cannot be relied upon, this is only an external cause, and India's own indisputable anger is an internal cause. Capital has always been profit-seeking, and the unfavorable situation of India's external revenue and expenditure has promoted the continuous withdrawal of foreign capital from India, at this time, the US dollar still has to take the opportunity to harvest a wave of leeks. India can only eat yellow lian dumbly, and there is bitterness that cannot be said. From this point of view, if a country has the ability to resist external risks, it should get rid of external dependence as much as possible and develop itself, rather than pinning its hopes on other countries.