[quote name='ankit-s' date='05 March 2010 - 04:19 PM' timestamp='1267785713' post='104851']
ame='manish' date='05 March 2010 - 05:53 AM' timestamp='1267748113' post='104842']
Same thing happened to Iceland, its 3 biggest banks defaulted, their combined debt exceeded approximately six times the nation's gross domestic product of 19 billion USD. Iceland stated that the state did not intend to take over any of the banks' foreign debts or assets. Instead, new banks were established around the domestic operations of the banks, and the old banks ran into bankruptcy. Iceland was not involved in a sovereign debt fiasco.
BTW China is a cash cow sitting on 2.3 trillion FOREX which makes it roughly 230 billions annually as Interest and other income earned from such smart investment by Chinese, while China has just 360 billions n external debt versus Indiaôs 240 billions.
As of Kerala, V S Achuthanandan wants to borrow n borrow as if there is no tomorrow: The restrictions on borrowing from within the country must be removed - says he. www.keralacm.gov.in/
[/quote]
Ankit Ji sorry for taking so long to post, was busy in some other personnel affairs. Three things I want to concede
1. Pound for pound china is way ahead absolutely no question.
2. Though I have personally never been to china but my best friend has and he always says that shanghai and Beijing are better developed than even new york also.
3. Most of my arguments are projecting the future, though I consider them valid, today any comparison is a joke so I guess u win this debate for now and anyhow future projection is not a very healthy sign of current affairs of any country so its best for time to reveal things. Hope for having more healthy discussions with u.
ame='manish' date='05 March 2010 - 05:53 AM' timestamp='1267748113' post='104842']
Same thing happened to Iceland, its 3 biggest banks defaulted, their combined debt exceeded approximately six times the nation's gross domestic product of 19 billion USD. Iceland stated that the state did not intend to take over any of the banks' foreign debts or assets. Instead, new banks were established around the domestic operations of the banks, and the old banks ran into bankruptcy. Iceland was not involved in a sovereign debt fiasco.
BTW China is a cash cow sitting on 2.3 trillion FOREX which makes it roughly 230 billions annually as Interest and other income earned from such smart investment by Chinese, while China has just 360 billions n external debt versus Indiaôs 240 billions.
As of Kerala, V S Achuthanandan wants to borrow n borrow as if there is no tomorrow: The restrictions on borrowing from within the country must be removed - says he. www.keralacm.gov.in/
[/quote]
Ankit Ji sorry for taking so long to post, was busy in some other personnel affairs. Three things I want to concede
1. Pound for pound china is way ahead absolutely no question.
2. Though I have personally never been to china but my best friend has and he always says that shanghai and Beijing are better developed than even new york also.
3. Most of my arguments are projecting the future, though I consider them valid, today any comparison is a joke so I guess u win this debate for now and anyhow future projection is not a very healthy sign of current affairs of any country so its best for time to reveal things. Hope for having more healthy discussions with u.