30
Indian government when you actually have to pay for the international trade you order. 
Russia got duped by India where India promised to build large ship tankers for Russia. I just don't understand how Russia agreed on it. It's a total scam from India's side. India will not pay Yuan because of it's racism and nationalism but it doesn't have a credible currency to back their transfers.
INR in itself shouldn't be terrible at least as part of a currency mix, my understanding was the rupees used to pay Russia were blocked currency and only usable for Indian exports, which Russia has only limited use for.
Correct, INR is a dead currency for Russia. Because Russia needs good amount of automobiles, high grade finished products which India has none.
After liberalization destroyed the little industry India had developed during state capitalism we basically had nothing to offer the world except for cheap software engineers.
When was this liberalization?
1991
Liberalization was around August I believe so the crisis you linked wasn't a direct result of the liberalization. Its evils took a while to accumulate, but I know family members whose former prosperous factory cities have become ghost towns due to deindustrialization after the License Raj ended.
this post was submitted on 03 Jan 2024
30 points (96.9% liked)
GenZedong
4287 readers
66 users here now
This is a Dengist community in favor of Bashar al-Assad with no information that can lead to the arrest of Hillary Clinton, our fellow liberal and queen. This community is not ironic. We are Marxists-Leninists.
This community is for posts about Marxism and geopolitics (including shitposts to some extent). Serious posts can be posted here or in /c/GenZhou. Reactionary or ultra-leftist cringe posts belong in /c/shitreactionariessay or /c/shitultrassay respectively.
We have a Matrix homeserver and a Matrix space. See this thread for more information. If you believe the server may be down, check the status on status.elara.ws.
Rules:
- No bigotry, anti-communism, pro-imperialism or ultra-leftism (anti-AES)
- We support indigenous liberation as the primary contradiction in settler colonies like the US, Canada, Australia, New Zealand and Israel
- If you post an archived link (excluding archive.org), include the URL of the original article as well
- Unless it's an obvious shitpost, include relevant sources
- For articles behind paywalls, try to include the text in the post
- Mark all posts containing NSFW images as NSFW (including things like Nazi imagery)
founded 4 years ago
MODERATORS