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Indians made poor by shrinking dollar

Malaysia News.Net
Tuesday 26th August, 2008

According to a World Bank report, the shrinking power of the dollar has made more Indians poor.

The survey says the actual number of poor in India has gone up over the years if the new poverty line benchmark, a daily income of US$1.25, is taken into consideration.

However, if one were to consider the decades-old poverty line of daily income less than US$1, the number of Indians living below the poverty line has gone down in the past three decades.

The report said the new estimates, which reflect improvements in internationally comparable price data, offer a much more accurate picture of the cost of living in developing countries and set a new poverty line of $1.25 a day.

The new poverty line is based on the results of the 2005 International Comparison Program, which was released earlier this year.

According to revised estimates for India, the percentage of people living below $1.25 a day decreased from 60 percent in 1981 to 42 percent in 2005.

In sheer numbers, the estimated poverty rates correspond to 267 million people living below a dollar a day in 2005, down from 296 million in 1981.

However, the number of poor living under $1.25 a day has increased from 421 million in 1981 to 456 million in 2005.

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Comments on this story

Anonymous
08-27-08, 07:57 AM

Chinese Example is more about working as a team

Chinese example is more about people working together as a team.. Synergy is that magic that occurs when people work together and help each other! My impression of Indian society is that if you belong to my family or cast you are ok. Otherwise, it is often a fight to get the most i can get. A study i saw recently shows India as the country, by far, that workers are like to argue and disagree with management.. It is a reflection of their societies mind set?

Sammy
08-27-08, 12:32 AM

Indians made poor by shriking dollar

The shrinking US Dollar has made all the poor people of the world much, much poorer, while the rich has become richer and richer, with the speculation upon the US Dollar.

Most of the world’s economies are based upon the US Dollar, and due to the fallen US Dollar their economies have felt the after shock.

Sammy, says; do not sell the US Dollar short, because it will cost much more to re-buy it later.

Sammy

Anonymous
08-27-08, 02:43 AM

Indians made poor by their own systems

India has a cast based society which says that people who are poor need to stay poor. People do not marry outside their cast and lower cast people have very little rights.. recent arrests have tried to stop this type of behaviour.. BUT India itself needs to save itself. Just like China is doing

Anonymous
08-27-08, 03:41 AM

what?

give a man a fish you feed him for a day, teach him how to fish you feed hi for life, give a man fanatical religion and he prays for food all day and starves..

Anonymous
08-27-08, 07:22 AM

Can you stand up to these to succeed?

If one is jobless and hungry, one has to do what must be done, roll up sleeves and go down to the ditch if necessary to earn that meal. It does not look good and it is a big decision. Foreign competitors will sneak in to discourage you by getting their foot soldiers the this right and that right groups, the international union of this and that, reporters whithout border and shame, free this and free that groups, and demagogue turn politicians from afar and their agents. This is the greatest hurdle to overcome indeed.

Anonymous
08-27-08, 09:45 AM

THIS MAKES NO SENSE

TWO STATEMENTS IN THE ABOVE STORY CONTRADICT EACH OTHER........
According to revised estimates for India, the percentage of people living BELOW $1.25 a day DECREASED from 60 percent in 1981 to 42 percent in 2005.

However, the number of poor living UNDER $1.25 a day has INCREASED from 421 million in 1981 to 456 million in 2005

Unregistered user
08-27-08, 03:20 AM

caste the problem?

Unregistered;99018:
India has a cast based society which says that people who are poor need to stay poor. People do not marry outside their cast and lower cast people have very little rights.. recent arrests have tried to stop this type of behaviour.. BUT India itself needs to save itself. Just like China is doing



Yes all they need to do is build export of value to the rich world economies .

Its easy .

All they need is tom accept the dollar hegenomy and then all they have to do is reduce the value of their labour so they can compete better with the high waged Chinese.This would bring economic prosperity to all exept the peasants.
Its a behavorial thing.
If they were good christians their problems would all be solved by free trade and by selling the sacred cow to the rich as beef.

TIKTIK
08-27-08, 03:36 AM

sAMMY DOES NOT KNOW WHAT HE TALKING ABOUT.

Anonymous
08-27-08, 05:00 AM

Unregistered user;99024:
Yes all they need to do is build export of value to the rich world economies .

Its easy .

All they need is tom accept the dollar hegenomy and then all they have to do is reduce the value of their labour so they can compete better with the high waged Chinese.This would bring economic prosperity to all exept the peasants.
Its a behavorial thing.
If they were good christians their problems would all be solved by free trade and by selling the sacred cow to the rich as beef.



How could reducing their wages cheaper than the chinese bring prosperity ?
thats just a race to the bottom of the poverty rung.


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