Shifting Equations, Rigid Mindsets

The shift in economic power is clearly changing and, after centuries of extending the begging bowl, India and other supposedly Third World nations are finally in a position to demand from the West.

Look at this report. The world is suffering from an economic slowdown due to the excesses committed by the suited bandits on Wall Street and the hope lies with India and China. Manufacturing in both the countries continued to rise in October, though it slowed a little from the year-ago period.

Many are the signs that show the the post-recession world belongs not to the West but to the East. In that context, this report should evoke some surprise among readers.

It is about American companies' demands that India water down the compensation provisions in its nuclear bill to protect conglomerates such as General Electric. This at a time when French and Russian companies are going ahead with the signing of contracts with the Indian government! Some chutzpah!

These U.S. companies still think they call the shots? The sand is washing off from under their feet and they don't seem to be in any mood to drop their arrogance.

But this is the way to go, India.