Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
23 September 2010
06:5672075#1
Many of you will have been following the stories on the various news programmes about the Commonwealth Games. This major event is about to start in India yet nothing is ready for the thousands of participating athletes. A bridge collapsed the other day at the venue injuring many and part of a roof collapsed yesterday. Athletes are already arriving into this chaos, although some major athletes have pulled out completely.
But isnt this symbolic of the Commonwealth as a whole, operational chaos, yet some among us offer it up as an alternative and viable trading partner as they push for us to quit the European Union.
Nobody in their right economic mind would see the Commonwealth as a realistic or stable trading partner, yet it is often spouted, as some people grapple in desperation for reasons to exit the EU. An occasional trading partner yes, but a full time reliable trading partner as we try to secure future economic growth to protect jobs, most definitely not.
Most of the countries of the commonwealth seem to rely on the theory of chaos. These Indian Games are an indication of how these countries work and although there may be rich pickings for traders in some areas, they are neither sustainable nor reliable.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
23 September 2010
07:0272076#2
PaulB - we are a trading nation and must trade with the whole world.
India is an emerging economic powerhouse.
For some years now the best investment returns have been obtained from countries like India, Chine, Russia, Brazil and other emerging economies.
Yes they seem to have really screwed up in India over The Games but it is a daft idea to somehow turn that into an argument in favour of the corrupt, overtaxed and interfering EU.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
23 September 2010
07:1072077#3
Yes indeed there are emerging economies around the world..Brazil, China and indeed India as you mention, but the commonwealth games gives an insight into how Indian society works overall. it is chaotic...it shuffles from one piece of chaos to the next peice of chaos. And so many countries of the commwealth are the same, nay worse. And yes trade with them by all means but these countries to not offer reliabilty in anything like the same way as old world Europe. The most important factor in trade and prosperity is reliability/stability. Look at the stock markets...look what they continually tell us they need most of all, stability.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
23 September 2010
07:1472078#4
The conditions at the sports village are" sheer luxury lad". The Indian foreign minister claimed that the wests expectations are far too high! Like Paul I agree that a fair of the money granted to India has gone to line pockets of the officials. Having lived over there I witnessed first hand firms vying for contracts and having a couple of million slush fund in order to grease a few palms.
Marek
I think therefore I am (not a Tory supporter)
23 September 2010
07:3072079#5
It is outrageous that India have blamed The West for having their expectations too high!!! From what is reported, the Indian officials have also been offhand with the games reps. Surely, again, it isn't for us to bend and adapt all the time, but for other nations and cultures to reciprocate? The West is forever having to accommodate, adapt, accept, embrace, all the other cultures in the world - isn't it time we had a little reciprocation?
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
23 September 2010
08:0472081#6
PaulB - Indeed look at the stockmarket the best investment returns have been obtained from the less stable parts of the world. These are indeed high risk areas for investing but risk and reward are linked.
To put some facts to this.
Angus Tulloch's First State Indian Subcontinent Fund achieved 76.6% growth over 3 years to 22.09.10
The best performing Europe ex UK Fund, Blackrock European Dynamic achieved 25.7% over the same period.
Source: Trustnet
These results are despite there being a large Europe ex UK sector and only 3 funds are purely investing in India. India is a high risk area to invest and that is the point I am making.
Regulatory warnings:
Past performance does not indicate future performance
Investments can fall as well as rise in value.
No-one should make any investment based on what I have said in this post. This does not constitute advice to invest and it is strongly recommended that anyone thinking of investing should obtain independent fee based advice.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
23 September 2010
09:2272090#7
we have a few countries in the e.u. that are totally shambolic too.
even more ready to join that are even worse.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
23 September 2010
09:2472093#8
too true Howard.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
23 September 2010
15:5272122#9
BarryW yes indeed re investment risk. I remember the days myself when I had some wild speculative funds and they very often brought the best returns. Emerging Markets and whathaveyou. But here's the thing. You set aside some funds for speculation, you wouldnt put your life savings, your childrens inheritance as the guy from Dragons Den calls it, into one of these. These were purely speculative. The bulk of your 'estate' went into stability.
You might remember the term that used to be used, not sure if they use it anymore..."not for widows and orphans!"
So if you can extrapulate this thinking into the wider realms of international trade, I think you can see where Im coming from.
23 September 2010
17:0672125#10
Paul, you state that eurosceptics see the Commonwealth as an "alternative and viable trading partner as they push for us to quit the European Union."
This is incorrect. The Commonwealth is seen as an ADDITION to our trade not an "alternative".
As we import more from the EU than we export, they`re hardly going to banish us
from their little trading club are they?
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
23 September 2010
17:1172126#11
Not at all PaulB. There is no such thing as no risk investment, wherever you put money. Look at the near collapse of once strong institutions, look at the way deposit based savings are being devalued by inflation right now, look at the collapse in Corporate Bonds in October 2008 (and subsequent recovery...). The Lehmans collapse meant people in so called 'guaranteed' investments lost their money.
In fact over the recession/credit crunch period lower risk investments have proved to be the worse hit while higher risk investments have fared much better.
What people need is a proper investment strategy with investments being carefully selected. One thing I have realised over the years is that one person's 'wild speculative' investment is someone elses medium risk investment.... Horses for courses, picking the right mix of horses and the right mix of courses gets the best results long term.
A 'high risk, so to speak, investment made with good advice, backed by the right ongoing advice and reviews, can be a lot 'safer' than a less carefully selected 'medium risk' investment lacking the right ongoing advice.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
29 September 2010
19:3173025#12
As my computer has been derelict for some time and under repair - or awaiting replacement - I couldn't follow a number of threads, but came across this one.
Although it's no news that I am for us leaving the e.u., however, I would never advocate some special links with the 'Commonwealth', other than Australia, New Zealand and Canada.
The name is in itself ridiculous to put it mildly, as their is no common wealth between the member states of said organisation.
As for India in particular, it would be actually illegal to practise unrestrained trade with that country, any trade would have to be filtered and supervised, in the sense that there are in India certain laws that allow people to be treated almost as slaves, such as the untouchables, who may work for ten or so hours a day for a couple of pounds or even less, and have no chance of ever making a career or improving their standard on account of their class (untouchables).
British and European law are in no way open to such conduct!