America makes the right moves to "DOLLARIZED THE INDIAN ECONOMY".
January 2, 2007 1:33pm CST
America makes the right moves to "DOLLARIZED THE INDIAN ECONOMY". Dhaka, New Delhi, Hong Kong 20th June 2005 Jedi Agencies. In an attempt to put Indonesia, Phillipines, the South Asian economy into the American Dollar sphere; much effort has been undertaken by the American buying houses to develop the Bangladeshi textile and garment industry. The Indian textile strengths lies in their large cotton ginning and spinning industry. According to Prof. Fook Loke Sau of Hong Kong University, the Indian textile industry used to export huge quantities of cotton yarn to Bangladesh to be processed into knitted fabrics needed in America especially T-shirts. Leveraging on Bangladesh labour which are at least 30% cheaper than those in India, Bangladesh has built up a large cotton based knitted garment export industry. Dr. Rahman of the Bangla University said that the Bangladesh had use administrative policies and soft loans to build up a 3 million spindle mills capacity, knitting and dyeing facilities to complement the huge knitted garment industry built up by Hong Kong and Singaporean garment producers. According to Dr. Devan of the Indian University, this will forced India to rely more on Information technology, back office and other low cost business that belongs to the mostly American Banking, telecoms sector. This will push India further in the tyranny of American Dollar economy...putting the Indian nation at a pecking order of office peons. end of story.