Secretary Wilbur Ross Discusses Potential Trade-Deal with India…

In the bigger picture… Within the trade team, Commerce Secretary Wilbur Ross is positioned with primary responsibility toward the EU and India. Ross clear-cuts through the politics, explains Trump’s objectives amid the trade proposals, and paves a path for U.S. Trade Rep Bob Lighthizer to engage his counterparts.

India has always been a key strategic nation within the global trade-realignment taking place by the Trump administration.  Under all of the banter, the “Indo-Pacific” strategy is structurally the decoupling of the U.S. from China. As a part of the strategy President Trump has positioned the ASEAN (Association of Southeast Asian Nations) as benefactors in manufacturing & trade as an outcome of the U.S. decoupling from China.

However, India has genuine concerns about the global dynamic. Specifically, India is worried about allowing the multinationals to have influence over their economy and social structure. In this regard India is not wrong; their concerns are not unfounded.

We can all see, heck we’ve lived through, massive multinational corporations quickly gaining too much influence; including -eventually- corporate influence over the politics of a nation. That inherently leads to corruption.

When Americans see it in other nations we call it “bribery and corruption”, but when it happens in Washington, DC, we call it “lobbying”; the process is exactly the same.

As a consequence of the concern, Indian Prime Minister Modi has been straddling the fence while President Trump tries to influence him to come over to the side of ‘free markets’.

In an effort to dissuade the corrupt multinational concerns of Modi (and Trump has clearly indicated he does see validity within the concerns), President Trump has used Japanese Prime Minister Shinzo Abe as an example of what can be possible with economic nationalism.

President Trump (USA), Prime Minister Abe (Japan) and Prime Minister Modi (India) have held several unusual trilateral discussions as this dynamic has played out over the past two years. The concerns express by India are valid; however, so too is the opportunity… that’s where Secretary Wilbur Ross comes in:

India and the United States have spoken openly about the ups and downs of their current trade negotiations. Their discussion at the Forum’s India Economic Summit revealed new insights into both sides positions – and a key sticking point.

US secretary of commerce Wilbur Ross and Indian Minister for commerce, industry and railways, Piyush Goyal represented the US and India, respectively. WATCH:

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Prime Minister Modi, as represented by Minister Goyal, is concerned about the influences that comes with allowing massive foreign investment. Secretary Wilbur Ross will never diminish the concern because structurally that negative outcome, an outcome of corporate influence, is exactly what President Trump is now trying to untangle in the U.S. economy.

If President Trump is successful the new era of national trade will be based on genuine reciprocity and economic nationalism. The decades of allowing corrupt multinational corporate influence have created massive social inequities.

These inequities, both domestic and global in nature; driven almost exclusively by corporate greed to the benefit of multinational interests; allowed China to strategically step-in, open their doors and take advantage.

Fast forward to the past ten years and China is holding their national interests -and grip over prior investment- like a ‘sword of Damocles’ over the heads of the global corporations.  As President Trump has said: “I don’t blame China … I blame stupid politicians”.

In many ways President Trump is asking Prime Minister Modi to join in a network of nations and help the U.S. correct the current issue that personifies what Modi is worried about happening to India in the future.

Lastly, and here’s the important part; this is the part the global financial media seem to miss….  When you look at all of this ancillary geopolitical activity taking place toward the objective; you see it is all connected to a singular goal….  President Trump is not negotiating a “deal” with China, he is strategically decoupling the U.S. from China. Period.

If Trump wasn’t decoupling from China, then all of these conversations with Mexico, Canada, the U.K., Japan, South Korea, Vietnam, Indonesia, Australia, Brazil and India would not be taking place in the clear manner and sequencing we see.

For some reason the global financial media cannot see the connective tissue between Wilbur Ross’s statements in India and the U.S. policy toward China.

“There are trillions at stake”…

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66 Responses to Secretary Wilbur Ross Discusses Potential Trade-Deal with India…

  1. jengancworld says:

    This is a very sincere question. Let’s say they work a deal with India. Does that deal have to be ratified by the do-nothing Pelosi Congress?

    Liked by 1 person

    • ristvan says:

      Yes unless a short term only bilat under 19USC§2902.

      Like

    • Shyster says:

      My understanding is no! If it is a treaty, like USMCA, then yes; however, if it is just a trade deal like with South Korea or Japan ( or a non treaty deal like the Iran Nuclear Agreement), its more like a contract than a treaty and can be legislated away by Congress passing a conflicting statute or cancelled by the President. Treaties need to be approved by Congress and are accorded the same force and effect as the US Constitution (meaning, no lower law, even a statute by congress can conflict with or override a treaty that has been duly approved.).

      Like

      • ristvan says:

        All Congressionally approved trade deals are Pacts, not Treaties. The difference is a unilateral opt out clause. Simple majority approval of both House and Senate.

        Liked by 4 people

        • Shyster says:

          I stand corrected! The most dangerous misconceptions are at times based on what you don’t know you don’t know. Thanks for clarifying my understanding. Always willing to learn.

          Liked by 1 person

          • ristvan says:

            Glad to be of service.

            There are three levels of international deals under US con law. Treaties per A2§2.2 require approval by 2/3 of Senate. The definition of a treaty was provided by Thomas Jefferson when serving as SoS for George Washington: ‘eternal save by mutual consent’.
            Sort of set in stone constitutionally.

            Congressional Pacts avoid being treaties by having unilateral opt out clauses like NAFTA 22§5.

            There is a third SCOTUS recognized lower international agreement level, executive agreements made by POTUS, but in just three constitutionally described limited circumstances. The Obama approved Paris Climate Accord was such an executive agreement. The three A2 areas are as Commander in Chief, as ‘diplomat in chief’, or under the A2§3 take care clause. Obama Paris Accord was supposedly under the take care clause given the EPA endangerment finding under Mass v EPA.

            Liked by 1 person

          • Shyster,
            It depends if we are going by the Constitution or if we are going by the modern practice of calling treaties “agreements in order to avoid the ratification requirement at Article II, Sec. 2, cl. 2., while at the same time giving the House authority it does not have in the Constitution. The President’s life would be so much easier if his advisors understood the Constitution as the founders intended it to be understood.

            If we assume the statutes must be “pursuant” to the Constitution (as in Art. VI, Cl. 2 – please check it out), then your answer must be NO! You were correct the first time.

            Treaties are only ratified by the Senate. The House has nothing to do with it.

            However, the House may be involved later to pass legislation to give effect to the treaty, but they have nothing to do with the ratification of any treaty, aka “deal”, aka “pact”, aka “agreement”. A Treaty is a treaty no matter what you call it.

            And where did any of our Framers make an “unilaterial opt out clause” THE characteristic which distinguishes a “treaty” from a “pact”?

            Constitutional law, by the way, many times disagrees with the Constitution as the founders intended. So, if you want to use constitutional law, be prepared to disregard the limits the founders put in the Constitution.

            Like

    • Do you want a constitutional answer or a traditional answer?

      Like

      • litlbit2 says:

        How bout trade deals signed and agreed with all by 2020. January 2020 with House, Senate and a very expanded group of Deplorables they become legal treaties!

        In the short term looks like several Representatives, MSM talking heads, GOPe swampers have personal problems about to become their reading material.

        Get out the vote 2020KAG

        Liked by 1 person

    • Mike in a Truck says:

      RICO all lobbyists. Criminalize any politician that consorts with lobbyists. Swamp drains.

      Liked by 1 person

    • felipe says:

      Thank you SD for this clip! Wilbur Ross is pretty amazing to watch and listen to. He definitely views things from a lofty and comprehensive vantage point: “Imagine India 100 years from now with its same antiquated retail distribution system… and what are the costs of that?” (not verbatim)

      Like

  2. jrapdx says:

    So the idea is the multinationals gain a toehold on a country only when their “lobbying” is allowed to overtake the legitimate functioning of the government such that it no longer works for the people but for the benefit of officials. Therefore control of “lobbying” and conduct of officials are essential to avoid the multinational “trap”.

    That’s what is lacking in our own country where “lobbying” is obviously rampantly abused, attracting the worst crooks to seek out “public service careers” at the expense of taxpayers. Once established these situations prove to be extremely difficult to rectify. In the case of the US, Congress is hardly going to legislate changes when 99% of those elected to Congress are getting enormously wealthy from the patterns of bribery of the “establishment”.

    Based on this picture of American practices, India’s concerns are well-founded. Perhaps Ross should advise India to consider how they can inoculate their system from the systemic graft increased presence of multinationals will surely bring. If India succeeds in this endeavor America might well be able to use their experience as a guide to cleaning up our own horrific mess.

    Liked by 7 people

    • nimrodman says:

      “When Americans see it in other nations we call it “bribery and corruption”, but when it happens in Washington, DC, we call it “lobbying”; the process is exactly the same.”

      dead-nuts accurate on that one, Sundance

      Liked by 9 people

    • Dutchman says:

      I THINK, that just as PDJT’s goal is NOT a trade deal with China, his goal is NOT a trade deal with the EU, and for similar reasons. Can’t be trusted, history of renegging, ripped us off for trillions, and system can’t survive if they comply with PDJT’s terms.

      Moreover, I THINK PDJT’s long term goal, or effect is to end multinational corporations, AS THEY EXIST TODAY.

      Mind you, there might still be a Mercedes auto company, as an example.

      But, their factory in America will primarily make cars,sold in America, with some imports. They’ll have a factory in EVERY country where they are,selling significant #’s of their product.

      This, collectively, raises the ‘standatd of living’in each country, and frankly reduces the demand for cheap, shoddy goods, manufactured with cheap labor.

      After all, unless you are buying something for a ONE TIME USE, such as to use for your childs halloween costume, or a drill bit you only need in order to drill ONE hole, WHY would you buy crap?

      The ONLY reason China has been able to peddle their crap, is because thru outsourcing and dumping, the eliminated American manufacturing.

      Like voting Uniparty, we accept crap when there is no alternative, otherwise people generally appreciate quality.

      The exception, in the marketplace, is POOR people, who will buy crap, knowing its crap, vause they can’t AFFORD “the Good stuff”.

      Again, as standards of living in all countries rise, there is less market for cheap crap produced by low,wage workers.

      This also closes off the game Sundance has detailed in his MAGANOMICS articles. The “exfiltration of wealth”, lemons or widgets.

      If most produce grown in a country, is consumed in that country, and ditto for widgets, MultiNationals can NOT engage in their end run around Cartel/antiTrust rules in each country.

      They can NOT buy up all the lemons in the world, and then manipulate supply and demand, to control price and profit.

      Hence, the end of multinationsls, AS THEY EXIST NOW.

      Yet another irony among many; Globalism makes the false promise of spreading our prosperity to less prosperous nations, while in reality bringing us down to their level.

      PDJT’s policies, fully implemented, have the real potential to spread prosperity to the rest of thexWorld, WITHOUT bringing down American prosperity, at all.

      And, spreading truly free market capitalism and Democracy, because totalitarian dictatorships, highly centralised, controlled economies just,will not be able to compete.

      Liked by 11 people

      • Awesome post.

        China, we need to let them know that organ harvesting is really truly off limits.

        But I think we need to crush the CCP for that to happen.

        Liked by 1 person

        • Dutchman says:

          Crush CCP, AND crush/dismantle EU. And while there are so many reprehensible actions taken by the CCP, like fentanyl, that would cause any SANE person or entity to shin them, Organ harvesting is so far beyond the pale, its baby eating territory.

          Liked by 3 people

      • livefreeordieguy says:

        Great post, Dutch… Excellent context… You can take the rest of the day off (but I know you won’t)… As SD says, it is shocking that so few see that PDJT is clearly decoupling from China… He can say “I’d like a deal with China but we’ll see what happens” all he wants… I think we all know what is going to happen.

        Liked by 2 people

      • jrapdx says:

        You made many good points. Of course the mechanism you cite whereby companies have international presence through subsidiaries producing items locally for regional markets.

        For example when I lived in Germany many years ago Coca-cola was everywhere but made by local subsidiaries in several locations throughout Germany.

        I can’t say I remember precisely when “outsourcing” became prominent but it’s a relatively recent practice. At least I can very well remember when distributed manufacturing was the model and Americans still had jobs.

        “Globalism” was sure a convenient excuse for major corporations to short-change American workers for the sake of quick profits and inflated “market valuation”.

        Now the chickens come home to roost thanks to PDJT. The “multinationals” will be unhappy about the prospect of having to behave responsibly though I suspect in the long run the adjustments the companies have to make will create more real value for their shareholders and for the country as a whole.

        Liked by 1 person

        • Dutchman says:

          Read an article, years ago so don’t remember the details. Said at some point they changed the compensation package, for CEO’S. Don’t know WHO changed them, whether regulations or what.
          The package USED to encourage the CEO to think long term, changed to have them focus on next 1/4 profits.

          A lot of changes could be done, to corporate governance, either thru regulation, or thru stockholder lawsuits,….

          The changes PDJT is making, are going to have profound ramifications beyond our lifetimes.
          Funny, his immediate predecessor aspired to be,”transformative”,…and his legacy has been obliterated, in 2 1/2 years.
          The changes ‘the disrupter’ is making, will not be so easily erased.

          Liked by 2 people

          • jrapdx says:

            The increased “spread” between line worker and CEO salaries has been pointed out many times, particularly noticeable when the CEO isn’t actually doing all that much to earn it. Just another scam that favors the “elite” over the deplorables.

            With the worker shortage now happening worker salaries inevitably increase faster than the “executive class”. The priorities shift, CEO compensation could get trimmed back.

            Rectifying unfair trade setups probably reduces attractiveness of “outsourcing” production or services elsewhere, more jobs at home. As long as the new trade deals are maintained in future administrations the effects will be enduring. That’s the key to success down the road.

            Like

            • Dutchman says:

              Yup. Politicians and pundits, particularly libs, LOVED the issue of;
              “The rich get richer, the poor get poorer, and the middle class get squeezed.”
              Thing is, the policies they advocated, did NOTHING to adress the problem, and only exacerbated it.
              PDJT is addressing the underlieing causes, with his trade POLICIES.

              People don’t seem to really get it; POLITICS/POLICY; SEE the same root? Thats because POLITICS is NOT about personalities, its about POLICY.

              WHAT POLicies is a POLitician advocating, what are the effects of said policy, what chance do they have of actually enacting the policies, and do they even MEAN it, when they say its what they are going to do?

              But, thats boring, and can’t be soundbited. And, in many cases, such as with getting us in stupid, endless wars, or exfiltrating Americas prosperity, if they actually said what they intended to do, no one would vote for them.

              So, we focus on personalities, and ‘wedge’ issues, which evoke strong emotional responces, shutting down critical thinking, AND which DIVIDE us (why they are called WEDGE issues), so they can divide and conquer.

              We voters need to take our solemn duty to vote, a LOT more seriously.
              We need to understand the various ways the political class has developed, to “game” the system.

              Understand HOW they do what they do, so it won’t work, anymore.

              PDJT has done much in this area, just by providing such a stark contrast, but there is a lot more that needs to be done.

              Liked by 1 person

              • jrapdx says:

                Good thinking—I long noted the meaning of “politician” as one who creates and manages “policy” at a governmental level. However attempting to talk about policy when discussing political subjects more than not elicits blank stares. Few people are willing to examine policy and judge performance of politicians accordingly.

                This is strongly exacerbated by TDS and the cult of leftist ideology. The craziness, the “orange man bad” mentality, prevents rational discussions over policies. And Lord knows, it’s a conversation we badly need to have.

                Anyway what you’re talking about reminds me of observations I long ago made. On close look there’s a small segment of the population that is genetically incapable of not taking responsibility.

                These are the members of the community who feel compelled to go out of their way to try to solve knotty problems, like homelessness, pothole-ridden streets, etc. Also on a personal level they take on more than their share and get things done but at a cost.

                These individuals very seldom seek “credit” for their efforts, more than likely feel quite burdened. I’ve likened their experience to the mythological Atlas carrying the world on his shoulders.

                Yes, these are the people who are the pillars of our communities, yet mostly unrecognized and invisible. This 3% of the population keeps everything going despite the sloppiness and hubris that would otherwise destroy communities very quickly.

                It’s evident to me many members of the CTH community belong to the “3 percenters” of the world. I say thank God for the “overly responsible” among us. If any of us is a “3 percenter”, important to realize it and be able to say “good for me” at having done something genuinely constructive.

                Like

                • Dutchman says:

                  TDS is just the inevitable result of the path the dems/conmunists have been traveling, for many years.

                  They can NOT sell their policies, ir representated honestly, conmunism is, after all a con.
                  And so, like all cons, they evoke strong emotional reactions “the CHILDREN!” for example, to shut down critical thinking, so the mark doesn’t question the lies, interwoven with truths, that set up the con.

                  So, they have to KEEP the mark emotional involved, in order to keep them from seeing the con, when critical thinking reemerges.

                  Eventually, you have people in a permanent state of agitation, because of “the children”, and “saving the planet”, etc.

                  Zombies who are totally divorced from reality. Sad, really.

                  Liked by 1 person

                • jrapdx says:

                  TDS remains a puzzle to me, at least the “common” kind.

                  I mean it’s not hard to understand the “pseudo-TDS” of Swamp Creatures. After all they have a stake in the established order and that goddam Trump is doing everything possible to disrupt it. The nerve of him trying to be fair to deplorable Americans. Who ever heard of that? No mystery as to the origins of their hatred of the President.

                  OTOH why “non-elites” would manifest such antipathy is anything but clear. Having NO stake in seeing the President deposed yet still “hating his guts” is at a minimum illogical if not outright nuts.

                  So I know a number of people who are otherwise intelligent and accomplished. It’s quite startling to hear them go off on “orange man” (literally!), as a nurse practitioner friend has done. Her husband is a pediatrician—he says less but feels the same way.

                  Trying to get to the “core” of this phenomenon is elusive. Many of these TDS individuals have opinions that in fact contradict the TDS stance. For example, having nothing good to say about the educational system, high taxes, homelessness, etc. If not for TDS their views could be those of a Trump supporter.

                  They don’t see the contradiction, and will deny they have “conservative” views when their comments are pointed out to them. These people can have intelligent conversations about other (nonpolitical) subjects. It’s like the TDS is compartmentalized, walled off from the rest of their brains.

                  I have no idea what will dislodge the TDS craziness from it’s toehold on their belief systems. TDS is impervious to logic, that’s for sure. We could dream that medical science will come up with a cure, except I’m sure many medical scientists are equally TDS-afflicted and would fail to see there’s a problem to solve.

                  Like

                • Dutchman says:

                  I know. I began a discussion with my TDS infected sister.

                  Firstly, I had her READ the transcripts of several of his speeches; the Oct. 2016 speech, and his Inaugeration speech, and thecone he gave in Poland.

                  I asked her to point out anything hecsaid, that she disagreed with. She couldn’t.

                  Several days later, shecsaid “don’t tell my hubby, but I’m voting for Trump.”

                  Then, the access Hollywood tape came out, and I lost her.

                  After thecelection, I said “Lets not talk personalities, lets talk policy.
                  I took one policy at a time, and discussed it at length. At thevend of each one, we were in agreement, and I hadn’t compromised my position, at all.

                  Then, I think she realised what I was doing, cause she said she didn’t want to ‘talk politics’ with me anymore, cause it made her ANGRY.

                  Right now, I’m afraid the only effective cure is high velocity lead injections, unfortunately while the procedure IS successful in curing TDS,…
                  the patient dies.

                  I really don’t understand it, either and obviously no amount of facts, or reality has any positive effect, it just makes them angrier.
                  Actually, there are a # of conditions, that the medical and psychiatric professions have no effective treatment or cure for, despite labeling them as “mental conditions”.

                  I think its cause they are maladies of the soul, not ‘mind’ or body.
                  Psychopath/Sociopath, now renamed, collectively ‘asocial personality disorder’, pedophilia, etc.

                  I suspect TDS falls into this category, and PRAYING is perhaps the only hope.

                  Unless they try to remove PDJT from the Oval, by any means other than the ballot box, which even they concede isn’t possible.

                  In which case, the lead injections will have to be utilised, to innoculate probably 30% of the population?

                  So KEEP PRAYING…..

                  Liked by 1 person

                • jrapdx says:

                  The Pb treatment for TDS is, well, impractical, though applying it to those instigating TDS, like the media and Congressional Democrats definitely has a strong appeal.

                  Sad about your sister, I have one of those too. Since it’s not possible to have rational discussions over policy with a number of relatives and friends, I just don’t go there.

                  If one of the TDS-afflicted happens to utter something incoherent about PT, I reply with something factual/logical which generally throws them off. They’ll quickly change the topic or just stop talking to me altogether. And that’s just fine.

                  True enough, medical science knows little about the nature and origins of many (even most) conditions. Treatments may exist anyway and can be more or less effective. Imagine if there was a huge grant to research TDS, but alas, like many other things pertaining to the President, bureaucracies wouldn’t even consider it real and worthy of study.

                  Like

                • Dutchman says:

                  Again, I think, in particular psychology is attempting to treat diseases of the SOUL, not the mind. Hence, their inability to develop treatments.

                  Read the descriptions in the bible, of those possesed by demons, and then really LOOK at someone afflicted with TDS, or a,sociopath, pedophile or addict.
                  Demon possesion is a lot more accurate, and ‘logical’ explanation, and there IS a cure.

                  Liked by 1 person

                • jrapdx says:

                  Yes of course some “disturbed” people are truly evil though most aren’t. While we all have responsibility for our own thoughts and feelings, the epidemic of TDS involves greater forces.

                  In reference to TDS the contingent who knowingly and deliberately propagate falsehoods about President Trump to amp up TDS is the greatest manifestation of virulent evil and must be vanquished.

                  That’s the basis of distinguishing TDS among “common” folk vs. “elites” including the media. The latter are the source of the phenomenon, if not for the constant propaganda people like my sister, and perhaps yours, wouldn’t be so fixated on anti-Trump beliefs.

                  Demonic possession is one way to describe TDS but the infesting demon comes out of the propaganda machine that has worked overtime since 2016 (if not earlier) to the terrible detriment of countless individuals, families, communities and our entire nation.

                  Like

                • Dutchman says:

                  Thats the way it is with demonic possesion. Once it takes control, the demon motivates its host, to create ‘openings’ for more demons to occupy.

                  Like an imfection. Once possessed, the demon is not going to allow the host to sit at home and knit.
                  Its gonna want to get busy, spreading misery.

                  Like

      • amjean says:

        You state it so well; thank you for the insightful posting.

        Like

    • Ron Jaeger says:

      Very well stated !!!!!

      Liked by 1 person

  3. John55 says:

    Nobody tell the Democrats, they”ll say Trump is colluding with a foreign power to try to help himself in the 2020 election. Quick, leak all his private discussions with Indian leaders!

    Like

  4. If President Trump is successful the new era of national trade will be based on genuine reciprocity and economic nationalism. The decades of allowing corrupt multinational corporate influence have created massive social inequities.

    Genuine reciprocity and economic nationalism, President Trump’s formula for bringing peace, freedom, and prosperity to the world!!

    If he succeeds, they will not be able to suppress his role in world history!!

    Liked by 4 people

  5. sir4576 says:

    The pieces continue to fall in place.

    Liked by 2 people

  6. PVCDroid says:

    Just sold my India ETF last week. Looks like that was premature.

    Liked by 1 person

  7. ristvan says:

    Speaking as a former very senior corporate exec at a formerly very famous Fortune 50 multinational, I have dealt extensively with both China and India. IMO Ross has his work cut out on India.

    China was simple. Their way or the highway. We ended up having over 10000 employees in Tianjin, but only making lower tech lower cost ‘simple’ tech stuff like power semiconductor based auto voltage regulator modules, mostly for domestic Chinese consumption because of the forced tech transfer and IPR risks. So ‘easy’ for PDJT’s trade team to confront and disrupt.

    India was VERY complicated. We ended up with a 5000 person software engineering center for global SW development. But could not figure out how to crack the domestic markets for most of our main product lines (even with domestic manufacture) despite multiyear concerted efforts. Massive bureaucracy, opaque regulation at both national and ‘state’ levels, all kinds of non tariff trade barriers protecting local manufacturers, convoluted small retail, convoluted finance (microlenders).

    We finally turned our attention from India to the Americas south of the US border despite deep corruption concerns. I was on the CEO led team that spent two years wrestling with that decision before the BoD finally approved our Americas plan—that I got to present as global head of strategy at a Buenos Aires (symbolic of the decision) Board meeting.

    India will be a tough trade nut to crack.

    Liked by 13 people

    • I Hear You Now says:

      ristvan:

      Every post of yours that I read, I learn so much while being fascinated by the breadth of your knowledge and experience.

      I thank you for taking the time to teach all of us what you’ve gleaned over your Lifetime.

      Blessings to you and your wife.

      Liked by 3 people

      • zorrorides says:

        Ristvan, there’s a lot in favor of economy-making with central and south America. We have a better chance for a “free hemisphere” here, than in the old one.

        The odds are slim, si`, but better than zero.

        Like

    • rah says:

      Still India must evolve or be left behind. They won’t find a better partner to help them surmount the hurdles than Team Trump.

      Liked by 5 people

      • ristvan says:

        Rah, so true. Same as PDJT has offered NoKo.

        Liked by 3 people

        • rah says:

          Reality at Kashmir where India and Pakistan often clash,: India Pakistan Wagah Attari Border Closing Ceremony https://www.youtube.com/watch?v=LZ0ue-XGl9c
          But ongoing hostilities with Pakistan are small time compared to the threat from the PRC and the Doklam standoff. Neither the free world nor India can afford for India to be left behind.
          Over the door of my study is a little horse shoe. While attending the Austrian Army Hoch Alpinist school (High Alpine mountaineering school) we visited an Army stable where they bred a particular small breed of horse that were a branch off the Haflinger breed that the Austrians use for their high Alpine operations. Pure bred Halfingers could not stand the hot climate in India so they were attempting to create a new breed suitable for India. The Austrian officer in charge of the stable gave each of us one of those little horse shoes.

          Like

    • OlderAndWiser says:

      Ristvan, agreed. India has had corrupt governments for a long time – the socialists that dominated Indian politics made it so. Modi has been trying to root out the corruption that corruption.
      Further, the infrastructure does not lead to efficient distribution systems if you do not understand that the distribution systems in India are inherently distributed – not centralized.
      However, you CAN crack the Indian market if you bypass the bureaucracy and the infrastructure. AWS and Google do very well in India.
      Over time, the corruption will be minimized, and infrastructure will improve allowing for penetration of hard goods.

      Liked by 2 people

    • jengancworld says:

      Ristvan. Thank you for your comments. They are always very interesting and informative.

      Liked by 1 person

  8. DV Meca says:

    The risk of multinational corporations gaining too much power and corrupting India is a legitimate factor for Modi to consider, but the improved quality of life possible for Indians via increased trade with the US is also an ethical issue. I think that Modi understands this dynamic and is likely to work out a mutually beneficial deal with us eventually. However, we should be aware that his concerns are not a negotiating posture or a P.R. act. He genuinely places more emphasis on safeguarding the values and traditions of his country than most heads of state. He’s also a very deliberate man who doesn’t mind taking a while to make sure he gets this (or other big decisions) right.

    As far as I know, he’s unique among world leaders, in the sense that he’s not a worldly person. As a young man, he rejected an arranged marriage and took a vow to be a sannyasin (spiritual seeker), which involves committing to a humble, chaste life focused on religious devotion and service. He’s essentially a monk running a country, for all practical purposes.

    Liked by 7 people

    • Dutchman says:

      DV Meca,
      Great insights on Modi, and sounds like perhaps he is JUST the right person, at this key moment in History, to lead his,country.

      Notice how,WW2 Was such a time?
      At the very same time, so many countries developed strong leaders.
      Roosevelt, Churchill, Hitler, Il Duce, Stalin.

      Come the time, comes the leader?

      While we focus on DJT, and rightly so, we see other strong leaders ‘stepping up’, and similarly taking a stand against Globalism. And actually, no Hitlers come to mind. Merkel, Macron, May? Don’t make me laugh. Xi,….I just don’t get that impression.

      When I see picture of Trump and Putin, I see two alpha dogs, recognising each other AS alphas, surrounded by a room full of betas (other world leaders).

      When I see Xi with Trump, I just don’t see him as alpha,…

      Like

      • bruzedorange says:

        I understand the optics of Xi with Trump, but I think what Xi accomplished by consolidating power in the CCP–when everything within the Party/gov’t was designed to prevent that–proves that Xi is indeed an alpha.

        What limits him now is that he has no “medium strong” responses available to him. If Trump wins re-election, Xi has no non-nuclear cards to play except possibly to militarily hold Taiwan hostage.

        China is good at playing the long game… but the only available long game that maintains China’s “dignity” on the world stage currently looks like a forty-year long march back to square one.

        Liked by 1 person

        • Dutchman says:

          Problem with taking such pride in taking the long view, and 1000 year plan, you develop myopia, its like “farsightedness”, stuff 12″ in front of your face is all fuzzy.

          They truly didn’t think it was possible PDJT could do anything to seriously hurt them, in such a short amount of time.

          Hubris, like the 1000 year,reich.
          Holding Taiwan hostage is as pointless as holding Norks hostage.
          No military answer, no diplomatic answer,…and no saving face. Its a faceplant for Xi and CCP, and yeah,….march right back to being a 3rd world country making cheap crap nobody wants,…..
          Questiin is, since CCP isn’t particularly popular, and has only been able to maintain power because of massive prosperity, WHAT do people do, when that prosperity goes away?

          And, brutal dictatorship don’t survive, if they don’t brutally suspress dissent. But in HK, they CAN’T.
          Hell of a dilemma,…

          Like

  9. Ross really is the greatest. If he were 10 years younger, I would not worry about 2024.

    Like

  10. OlderAndWiser says:

    As I’ve posted before: the underlying issue is military – the trade deals follow the military strategy.. China IS a real threat to the world. How do you think nuclear weapons have spread? There is now a global re-alignment occurring on military alliances. The new Freedom alliance is the US/UK/Japan/Australia/India/Brazil/Poland and others. On the other side is China/Iran/NK/Venezuela/Cuba. Trump would love to see Russia on our side – the stupid ridiculous Dems would like to push them towards China – that would create a great imbalance.
    Trump is wisely decoupling with China.

    Liked by 2 people

  11. MicD says:

    Insider Trading !
    Favorite Deep State Entrapment for “Farm Boys and Girls” going to D.C.
    The scheme has evolved to, or is oscillating about perfection.

    Then we have the Golden Geese (insert names) who just happen to somehow “know” things,
    that can make or break anyone.

    Like

  12. Q&A says:

    As much as I’m happy to move from China to India for our imports, I’m apprehensive because so much of the apparel that comes out of India is really awful. Rough and wrinkly cotton, poor and bleeding dyes, and primitive textiles. Had to return some basic pocket tees I bought over the internet (from an American company) that were unwearable after washing. They were made in India.

    Liked by 1 person

  13. Ron Jaeger says:

    Just WOW !!! I cannot begin to absorb what was offered up here in this article and by the commenters tonight. Just a fantastic bunch of folks. It is a great time to be observing the history being made. Thank you one and all.

    Liked by 1 person

  14. val66 says:

    Important tweets that touch on this subject:

    Modi wants more of a Japanese economy that fosters small businesses rather than importing the corrupt corporatism the US has. The US, thanks to NAFTA & DC, chose cheaper prices for consumerism instead of jobs and employment for the working class / blue collar jobs. It’s clear now that it was a losing trade off. The US is on track to repeating this mistake with white collar jobs and knowledge economy.

    Like

    • yucki says:

      It won’t be easy. China’s wiped out entire sectors of small-scale businesses in India.

      250,000 and counting: Handsets sector sheds jobs to remain afloat
      NEW DELHI | MUMBAI: India’s handset sector has slashed over 250,000 jobs over the past two years as the rapid growth of e-commerce hurt brick-and-mortar stores and Chinese companies virtually wiped out their local rivals, industry associations said.

      The cut of about 15% of the workforce comprised mainly of in-store brand promoters who were put out of work after thousands of small phone-retailing shops shut down, according to industry executives and retailers. India had about 400,000 handset retailing outlets, including mom-and-pop and large-format stores, each of which used to employ three to five in-shop brand representatives, they said.…

      The auto industry has been one of the most high-profile casualties of the slowdown, with volume contraction in the June quarter the steepest since FY01.

      Over 1 million people may be laid off if the auto industry continues to slide, according to Ram Venkataramani, president of the Automotive Component Manufacturers Association of India.
      https://economictimes.indiatimes.com/jobs/250000-and-counting-handsets-sector-sheds-jobs-to-remain-afloat/articleshow/70442305.cms

      Liked by 1 person

  15. Rynn69 says:

    Another fantastic economic article from Sundance. Especially the information of India’s concerns with multinationals. Good stuff.

    Like

  16. Gary Lacey says:

    “”For some reason the global financial media cannot see the connective tissue between Wilbur Ross’s statements in India and the U.S. policy toward China.””

    Might I interject one word…..Providence

    Like

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