'Rabbit and Tortoise'

[Murtaza Husaini]

These days everyone is talking about the slow down in world economy. I
think that is very much true as we can see the impact world over. US,
Japan and Europe are the worst hit with major financial institutions
shutting down and moreover nations going bankrupt. Indian subcontinent
is also not going to be spared by this crisis and our neighbor country
Pakistan is almost on the verge of an economic bubble burst. Oil rich
Middle East’s upcoming real estate market is almost 30% - 40% down but
they are trying to sustain themselves as they have petrodollars and
have enough liquidity. India is also feeling the heat in terms of
salary cut offs, lay offs, low export, outsourcing tantrum but on a
minute level. If we can just alter the story of 'Rabbit and Tortoise'
and try to relate it to the current scenario, where western countries
can be the rabbit and India can be said as a tortoise. Although, India
is a developing country and we are still much regulated by the
government bodies, but this slow and steady approach helped us to
sustain ourselves from the worst economic crisis of our times.

I would like to make this very first discussion open to all the
members of this interactive forum. My US based friends can also throw
some brief light on the current situation over there.
The stage is all yours.

Thank you.

[Murtaza Husaini]

Very relevant points from Jafar.

i don't think India's been slow and steady. who's had a higher rate of
growth in the past few years - the western countries or the BRIC
countries (Brazil, Russia, India and China). i think your turtle is
really a tortoise.

this article is a good read on the topic (a year old though):
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=69FD8402-17A4-1130-F592B7B7765FEB9F

also take a look at the attached report. this one's old too but gives
good historical context.