------------------------------------------------------------------------ TRI Continental Film Festival - Dona Paula, Goa, Sep 28 - Oct 2, 2007
http://www.moviesgoa.org/tricontinental/tricon.htm For public viewing. Registration at The International Centre Goa. (Ph: +91-832-2452805 to 10) Online Media Partner: http://www.GOANET.org ------------------------------------------------------------------------
Fred, I am not an economist by trade, but being a business software developer for big names on Wall Street, I have learnt quite a bit, about what is known as 'Capital Flows' and how it affects markets that have been previously under financial repression. To make a short story long :) contrary to your belief, Goa and Goans have actually benefited from an undervalued Rupee, along with the rest of India. In plain English, if one has been struggling to find enough money to buy simple bread, he can't dream of investing whatever little resources he has, to build a bakery to make the bread cheaper! You need external guys to bring in the capital, so that they can invest and build efficient bakeries and generate enough competition, so that eventually, the price of bread comes down, to the level of affordability. (Damn, do I sound like Alan Greenspan ?). Because of several factors, including the artificially low value of the Rupee and in response to offers of higher yield, foreign investors came to India with big money, which is in part helping the country to propel to new heights. Now go a step further: Take the case of Goans who left Goa to work in the Arabian Gulf and other parts of the world (that includes me ofcourse). Why would they leave Goa to work elsewhere? Not because there are no jobs in Goa. There are plenty of jobs, but those jobs in Goa aren't paying enough to suit the lifestyles of these Goans!!! These Goans decided to emigrate, because their foreign earned currency could stretch a lot further back in Goa. Much of the foreign earned money, stashed in the banks in Goa, is re-cycled back into the economy by issuing loans to entrepreneurs in Goa/India. Furthermore, if one Indian Rupee was worth one US Dollar, nobody would buy anything from India - because it would be just too expensive to buy Indian goods and services, compared to the competition. Starved of exports and foreign capital, India would have been in perennial recession. Jim F. New York. -------------- Original message ---------------------- From: "Frederick [FN] Noronha * फà¥à¤°à¥à¤¡à¤°à¤¿à¤ नà¥à¤°à¥à¤à¤¯à¤¾" <[EMAIL PROTECTED]> > ------------------------------------------------------------------------ > What does it mean to Goans who have been *badly hit* all these years > by a dollar which has grown from seven rupees to a dollar, to nearly > Rs 49 per dollar in three to four decades? And I'm not referring to > mineowners. FN > > On 21/09/2007, Jim Fernandes <[EMAIL PROTECTED]> wrote: > > > This is bad news for Goans who have substantial exposure to the USD. Various > > business news outlets have been warning about the impending collapse of the > > US dollar. Here's my summary of what is being reported in biznews in plain > English. > > --
