Pakistan Leads South Asia in Innovation Efficiency

[RiazHaq]

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Sir.. Read the news again.. Its does not talk of the reserves being made up of hot money but the ratio of volatile inflows to the forex reserves. There is a ton of difference there..

On the other hand, when you talk of Pakistan's forex reserves (after all Pakistan is doing better than India on Current Account balance ), this is what some of the financial gurus from Pakistan and other countries have to say...









Pakistan’s forex reserves sustainability a cause of concern | Pakistan | News | Newspaper | Daily | English | Online

Obviously a difference only you can understand!

As to Pakistan's forex reserves, it's not news.

[foxbat]

Where it came from is the issue, not where it's invested. It's hot money via portfolio investments that can flee quickly if the stock market bubble bursts in Bombay.

A lot of Ifs Riaz.. Didnt you predict a dooms day on the BSE some time last year when the market hit 20K. Last I checked, we are still hovering around 19K at this time. And please understand, the flight of money will not reduce the reserves. Its just that the Indian currency will take a beating by a couple hundred basis points in case of a stock exchange crash as the the Indian shares would be sold for INR and INR would be put in the market for conversion. The govt's cache of FOREX will not get impacted by it

---------- Post added at 11:36 PM ---------- Previous post was at 11:35 PM ----------

Obviously a difference only you can understand!

As to Pakistan's forex reserves, it's not news.

Please explain the bold part again..

[RiazHaq]

A lot of Ifs Riaz.. Didnt you predict a dooms day on the BSE some time last year when the market hit 20K. Last I checked, we are still hovering around 19K at this time. And please understand, the flight of money will not reduce the reserves. Its just that the Indian currency will take a beating by a couple hundred basis points in case of a stock exchange crash as the the Indian shares would be sold for INR and INR would be put in the market for conversion. The govt's cache of FOREX will not get impacted by it

---------- Post added at 11:36 PM ---------- Previous post was at 11:35 PM ----------



Please explain the bold part again..

I'm afraid you don't understand the basic concepts of foreign exchange reserves and the right of foreign portfolio investors to pull their money out in dollars and euros as they wish. It happened in the Asian financial crisis, and it can happen again....a good reason to limit hot money inflows.

Joseph Stiglitz, a Nobel Laureate Columbia University economist, has argued that India is more vulnerable to an asset bubble than China, saying that “strong economies that don’t yet have capital control become the focal point” for the liquidity injected by the US Federal Reserve. Stiglitz thinks that India, more than China or Brazil, should watch out for the tidal wave of money made available from the Fed’s quantitative easing. Mike Shedlock, an American investment advisor, believes that "India and China are going to overheat and crash, or their economic growth is going to slow dramatically, quite possibly both".

Haq's Musings: Indian Economy: Hard or Soft Landing in 2011?

[HellzHere]

cote'd'ivore..1st
Nigeria..2nd
China..3rd
Pakistan 4th..
WTF!?!
except China..what have the other 3 countries innovated?!!..
No US,Germany,France,Japan in top 10!?WTF!! and Bangladesh 10.
I would seriously like to know what Cote'd'ivore/nigeria/pakistan have innovated! Come on shed some light and improve the world's lifestyle with your innovations!
BTW,Global Innovation Index says China-29th,Inda-44th,Pakistan-84th..GII is much more reliable.

[Agni5000]

Where it came from is the issue, not where it's invested. It's hot money via portfolio investments that can flee quickly if the stock market bubble bursts in Bombay.

Where is the bubble ?

[HellzHere]

I'm afraid you don't understand the basic concepts of foreign exchange reserves and the right of foreign portfolio investors to pull their money out in dollars and euros as they wish. It happened in the Asian financial crisis, and it can happen again....a good reason to limit hot money inflows.

Joseph Stiglitz, a Nobel Laureate Columbia University economist, has argued that India is more vulnerable to an asset bubble than China, saying that “strong economies that don’t yet have capital control become the focal point” for the liquidity injected by the US Federal Reserve. Stiglitz thinks that India, more than China or Brazil, should watch out for the tidal wave of money made available from the Fed’s quantitative easing. Mike Shedlock, an American investment advisor, believes that "India and China are going to overheat and crash, or their economic growth is going to slow dramatically, quite possibly both".

Haq's Musings: Indian Economy: Hard or Soft Landing in 2011?

Why you publicizing,popularizing your worthless/sensless blog here?As if we give a sh!t?
btw,to satisfy your overwhelming jealousy regarding India:
At $4.66 billion, FDI in May second highest in 11 years - The Economic Times
2nd Highest FDI in 11 years! Guess how the future looks?!
An assessment by someone more respected/well known than Mr.Haq..
India to grow at 13.5% annually in 10 years: Merill Lynch - CNBC-TV18 -
Stop being that amusing!!

[RiazHaq]

Here's an opinion by Taran Marwah of Afund India for July 2011:

All the “reform processes” are on hold in India for the past six months due to scams in various sectors in the Indian economy. Reforms in FDI in Retail, Insurance and Defense etc are in the “cold storage” since January 2011. FDI into India for the period - January to June 2011 is one-ninth than that of China in the same six month period. Plus Indian fiscal deficit is ballooning due to high crude oil prices and Indian Government’s inability to dismantle APM for petroleum products as mentioned above. Such low level of FDI is not a good sign for the Indian Economy. JFI - Indian trade account deficit for last financial year was US $ 105.00 billion. We predict that RBI will further raise interest rates, when its Board meets for monetary policy discussion in the last week of July 2011. We expect a 50 bpts hike in Repo rates by RBI in the last week of July 2011. Analysts feel that the hike will only be to the tune of 25 bpts. Let us wait and see. RBI is willing to sacrifice GDP growth in India at the cost of reining in inflation.

The BSE SENSEX will be bullish if it closes convincingly above 18190. There have been net FII flows into the Indian Equities and Asian Equity Markets in June 2011. If the trend continues in July 2011, then the levels for BSE SENSEX to watch for July 2011 are as follows :
R1 18800 R2 19340 R3 19500
S1 18500 S2 18190 S3 15960 (subject to closing below 18190 for fifteen consecutive days)
We predict that Indian equities will be range bound for the month of July 2011, with a bearish undertone. The levels are as per above figures. But we are bearish for the Indian equity markets for August and September 2011. We will see BSE SENSEX levels lower than 15960 in Q3 2011. By the way Credit Suisse said in its report of June 2011 to its investors that it predicts BSE SENSEX to be around 16000 in Q3 2011 ? We said this or near about (15960) in Q1 2011 ? AOTC – my problem !

INDIA 2011

[Agni5000]

^^^^^
Highlights: Warren Buffett's India visit
Highlights: Warren Buffett's India visit - Moneycontrol.com -

Look people like Buffett who is value investor, want to invest in India. and clueless blog writer talking about bubble.
BTW Buffett will not look at KSE from his charted plane, forget about investment!

[RiazHaq]

^^^^^
Highlights: Warren Buffett's India visit
Highlights: Warren Buffett's India visit - Moneycontrol.com -

Look people like Buffett who is value investor, want to invest in India. and clueless blog writer talking about bubble.
BTW Buffett will not look at KSE from his charted plane, forget about investment!

Buffett came along with Gates with a primarily philanthropic mission: To shame the sting Indian billionaires into giving to the poor.

Buffett, Gates encourage Indian billionaires towards charity drive - Economic Times

Pakistanis don't have this rich banya problem to the same extent, as obvious from much higher levels of giving in Pakistan for philanthropic causes.

South Asia Investor Review: Pakistan Leads South Asia in Charitable Giving

[username]

If the USA was ahead on this list, there would be no cost arbitrage, no outsourcing to India or any other third world nation, and there would be no Indian code coolies.

India's IT sector business is essentially driven by low-cost call centers, first-line tech support, simple repetitive code writing, and execution of pre-defined test suites. A typical Indian IT worker is increasingly being called a "cyber coolie" or sometimes a "code coolie", the former term having been coined by an astute Indian columnist Praful Bidwai back in 2003.

Haq's Musings: Indian IT Sweatshops Exploiting Cyber Coolies?

dude you have no freaking idea about IT field and you certainly haven't seen the depth and breadth of work being offshored to Indian software companies.... Just to give a sample Microsoft's whole windows XP is here in India. And it surely takes a lot of hardwork, and it takes a lot of trust on Indian Software Engineers to give whole kernel sustenance.

[WAQAS119]

Oh God ..............Oh God.....! Can't you guys digest any good news for Pakistan???? Lay off guys.
What is so useful in such an intense obsession?

[Agni5000]

Buffett came along with Gates with a primarily philanthropic mission: To shame the sting Indian billionaires into giving to the poor.

Buffett, Gates encourage Indian billionaires towards charity drive - Economic Times

Pakistanis don't have this rich banya problem to the same extent, as obvious from much higher levels of giving in Pakistan for philanthropic causes.

South Asia Investor Review: Pakistan Leads South Asia in Charitable Giving

Now you moved topic from BSE bubble to charity. Thats cool.
Pakistan itself needs charity, I wonder how it leads in south asia? Any statistics to back the claim?

[RiazHaq]

Now you moved topic from BSE bubble to charity. Thats cool.
Pakistan itself needs charity, I wonder how it leads in south asia? Any statistics to back the claim?

Follow the link I gave you to see stats.

Or better yet, read Prof Anatol Lieven's recent book on Pakistan.

Here are some interesting excerpts from Anatol Lieven's "Pakistan-A Hard Country" on the role of religion and a description of Edhi Foundation as the essence of Pakistan's real civil society:

"Charities with a religious character tend to more favored and more trusted. It is also true of Pakistan's most famous charitable institution by far, Edhi Foundation, which is nonreligious; however, Abdus Sattar Edhi is himself a deeply religious man, known by the public at large as Maulana (a Muslim distinguished by his piety and learning)even though he is not a Muslim scholar and in fact greatly dislikes being called this.

There is no sight in Pakistan more moving than to visit some dusty, impoverished small town in arid wasteland, apparently abandoned by God and all sensible men and certainly abandoned by the Pakistani state and its own elected representatives- to see the flag of the Edhi Foundation flying over a concrete shack with a telephone, and the only ambulance in town standing in front. Here, if anywhere in Pakistan, lies the truth of human religion and human morality".

Another excerpt from Lieven's book:

"Levels of trust in Pakistani state institutions are extremely low, and for good reason. Partly in consequence, Pakistan has one of the lowest levels of tax collection outside Africa. On the other hand, charitable donations, at almost 5% of GDP, is one of the highest rates in the world".

Lieven quotes the following commandment (2:172) from the Quran:

"Righteousness is not that ye turn your faces towards the east or the west, but righteousness is, one who believes in God, and the last day, and the angels, and the Book, and the prophets, and who gives wealth for His love to kindred, and orphans, and the poor, and the son of the road, beggars, and those in captivity; and who is steadfast in prayers, and gives alms."

[indianrabbit]

It's your home work to find out the number of jobs in each category rather than just the revenue.

BPO is the home of the ultra cheap cyber coolies while India's IT shops are just body shops supplying cheap code coolies for outsourced IT services rather than any real original sw products.

Why should we search, you claimed it you prove it.
I have worked in most multinational here, I know the fact. I am not a internet warrior whose sole truth oh info are some blows and has zero hands on experience.

Unlike you I can pin point IT and BPO companies in India.

To help you when BPO started big time in 2005
IT already completed 25 years.

The term coolie is offensive and you Pakistani brother are dying for the coolie job.

You are so jealous of India that it shows.

[Agni5000]

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Follow the link I gave you to see stats.

Or better yet, read Prof Anatol Lieven's recent book on Pakistan.

Here are some interesting excerpts from Anatol Lieven's "Pakistan-A Hard Country" on the role of religion and a description of Edhi Foundation as the essence of Pakistan's real civil society:

"Charities with a religious character tend to more favored and more trusted. It is also true of Pakistan's most famous charitable institution by far, Edhi Foundation, which is nonreligious; however, Abdus Sattar Edhi is himself a deeply religious man, known by the public at large as Maulana (a Muslim distinguished by his piety and learning)even though he is not a Muslim scholar and in fact greatly dislikes being called this.

There is no sight in Pakistan more moving than to visit some dusty, impoverished small town in arid wasteland, apparently abandoned by God and all sensible men and certainly abandoned by the Pakistani state and its own elected representatives- to see the flag of the Edhi Foundation flying over a concrete shack with a telephone, and the only ambulance in town standing in front. Here, if anywhere in Pakistan, lies the truth of human religion and human morality".

Another excerpt from Lieven's book:

"Levels of trust in Pakistani state institutions are extremely low, and for good reason. Partly in consequence, Pakistan has one of the lowest levels of tax collection outside Africa. On the other hand, charitable donations, at almost 5% of GDP, is one of the highest rates in the world".

Lieven quotes the following commandment (2:172) from the Quran:

"Righteousness is not that ye turn your faces towards the east or the west, but righteousness is, one who believes in God, and the last day, and the angels, and the Book, and the prophets, and who gives wealth for His love to kindred, and orphans, and the poor, and the son of the road, beggars, and those in captivity; and who is steadfast in prayers, and gives alms."

Thats ok... How do you think that no one India giving charity.

Every religion speaks for charity, there nothing you can boast abt it in your religion.