The high techindustry in Indian is suffering its own slowdown. Indian outsourcing firms have stopped hiring, freeze salaries,and laying off thousands of software programmers and call center operators.
India high tech companies suffer
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My comments relate to the Mumbai attacks. My guess is that such an attack would not have gotten anywhere as far in the USA as it did in India. That is because the 2nd Amendment to the USA constitution allows USA citizens to bear
arms. The India government disarms its citizens similarly to pre-WWII Nazi policies. So, people in Mumbai could only wait for police to arrive. Quite a contrast to the many news items regularly in America’s 1st Freedom magazine.
Your answer surprised me. Oil isn’t just about gas and diesel. Oil is in practically everything—all the plastics for example. ..in carpet fibers, plastic bags and trash cans, man made materials we wear, cooking gagets, toys,
computers (I am typing on plastic keys), water& sewer& drainage pipes, all over the insides of cars/trucks, everywhere I look– in nearly every aspect of life. In short, oil is an integral and necessary part of manufacturing, so I don’t get how
higher oil prices won’t hit China also—except that their inflation is miniscule compared to ours.