AMERICAN POWER ON THE WANE?

Is America, the sole super power of the world, on the way to be a has been?   Is America losing its sting?   Is America on the decline?   Is American power on the wane?

Commentators around the world are debating this hot topic in the light of the continued crisis gripping the American economy, and its fabled markets.   Some are convinced that America, the super power, is truly and well on its way to demise.   And going by the increasingly negative news emanating from the United States, one cannot be blamed for imagining the worst.

Whether America can continue to hold its position as the sole super power of the world may depend on a very simple and mundane asset, namely, CASH!   How deep are America’s pockets?   In order to retain its present position in the comity of nations, America may have to go on spending cash, and more cash,  till it reaches a point when its economy finds its feet once again, and America can go back to strutting around on the world stage as the only super power!

What does America need to spend money on?   Here are some of the areas where the U.S. has to spend billions upon billions of dollars without really counting them (saves time!), in order to keep its number one position.

Take Care Of Own:  The American Government has to naturally take care of its own citizens first, like any good Government, and that requires a hell of a lot of money.   Its not an easy task for the American Government to keep its citizens happy, given their proclivity to wasteful spending, and lack of the savings habit.  

The American Government has not only to take care of the basic needs of its citizens, but also to pamper them with innumerable goodies.   Cheap gas, for one.   Americans are hooked to the automobile, and keeping them happy on the road costs the American state quite a packet!

America has to ensure unemployment within its population to the bare minimum, or pay unemployment doles to the unemployed.   On the other hand,it has also to provide job opportunities to a large number of aliens, in order to retain its competitive edge by attracting the best talent from all over the world.   Also a large number of aliens throughout the world, looking up to America for a better future, does its image a whale of good.   And the Social Security system that American citizens are entitled to, takes up a large chunk of the American State spending.

Military Power:  America has to maintain a vast, and first rate defence force, that has the capability of intervening in any part of the world, at short notice.  This entails maintaining and sustaining a steady supply of arms and ammunitions of every variety and description, in huge quanities, and of the best quality of course.   Land, Sea and Air based, and in future, space based weapons systems of the highest quality and accuracy are needed to project America’s muscle power before the rest of the world-to friends and foes alike.

Projecting Power Abroad:   Propping up friendly, even if brutal regimes with little or no concern for human rights, like Israel, and Egypt in the pursuit of its strategic interests, takes up a huge chunk of America’s resources.   Israel is the top beneficiary of American aid, so much so that every morsel of food that the Israelis consume, and every drop of water they drink is either partly or fully financed by America!  The second largest receipient of American aid is Egypt.

And then there are states like Pakistan and South Korea, that are supposed to act as a bulwark against perceived threats to not only American interests, but to world peace and prosperity.   Pakistan is supposed to counter the threat of the Taliban and Al Qaeda, and South Korea is supposed to halt the spread of red (communism) from North Korea!   Both these friendly states, especially Pakistan, swallow up a considerable amount of American money year after year.

As if this were not enough, America has a bounden duty to punish unfriendly regimes like Iraq and Afghanistan by occupying these states physically;  and subverting their systems to make them America-friendly requires a virtual pipeline of cash to be put in place between America and these countries.   In spite of all this, the end result may not be satisfactory for America, which means all the money spent going down the drain.

Intelligence gathering:  This is another area where America spends countless billions of dollars to maintain its ‘edge’ over the rest of the world, in the hierarchy of nations.   The American intelligence set up is said to be as expansive as it is expensive.  The cost of  maintaining and running such a vast network of intelligence gathering mechanism, both human and non-human can only be imagined, as a lot of the expenditure is of a secret nature, and not accounted for.

By no means, is the above, a complete list of the expenditure incurred by the American Government to maintain its power and prestige, and more importantly, its ’sole super power’ status.

The current economic crisis that has America in a vice like grip, refuses to ease up soon, thereby putting enormous pressure on the American system, and pushing America into more and more debt, thereby mortgaging the future of the coming generations of Americans.   If this situation continues, America may soon be left with the hard choice of saving its flesh and bones, by letting off its enviable, or hated, as you please, status, of the sole super power of the world.

LET THE TAMASHA BEGIN!

Its election time in India folks!   Who are you going to vote for this time?   Does it really make a difference?   Does it even matter if you vote or dont?    That depends on how you look at the issue, and where your own interests lie.

Major Issues:  What are the major election issues in India, this time around?   Well, the comfort zone of “terrorism” is no longer inviting and safe.   It may, infact, give negative returns.   Economics has overtaken all other considerations, and come on to  the forefront of political battles, that lie ahead.   And jobs, the least glamorous, but the most relevant issue affecting dozens of millions of Indians is now uppermost in the minds of the electorate.   Of course, how much of a “mind” the electorate has, is a different matter altogether, given the voting patterns in the past elections!

The Challenges:  The change of guard in America has also changed the old equations for the Indian ruling classes.   The Indian political elite will definitely miss the indulgence of the Bush administration, towards the various sins of omission and commission merrily committed by the Indian elite.   Having enjoyed a jolly ride for eight long years thus, adjusting to the new realities of the changed situation, is not going to be easy for the Indian rulers.

Compounding  their problems is the current economic crisis in the United States, and elsewhere.   Job opportunities in the U.S. for the Indian middle classes are fast drying up.   And a reverse flow of expatriates back to India, after losing their jobs abroad, has begun.   The new American administration has, inevitably perhaps, come out with legislation to protect the American workers, and industry.   Outsourcing of jobs to other countries at the cost of the local labor, and employing aliens ignoring equally qualified locals would be penalized now.   As it so happens, the majority of the jobs outsourced by American companies go to India;  and naturally, now India has to suffer the most on account of these new laws.   Having enjoyed  free lunches for a long time practically, the Indian establishment is now forced to address the long standing issues that remain unresolved even fifty seven years after Independence-Poverty, Unemployment, Illiteracy,  Diseases, Corruption etc., etc., etc.!

Immature Electorate:  On its part, the Indian electorate has rarely displayed the kind of maturity and common sense expected of it in its approach to voting in national elections, in the past.   Political Parties have almost always succeeded in diverting people’s attention with frivolous and even stupid issues, and away from the real issues.   But this time around, the politicians may not have it so easy.   Primarily, on account of the increasingly precarious job situation.   With industry and businesses laying off employees by the hundreds, practically every week, on account of the economic situation(what else), the increasing number of jobless makes it more complicated for the political classes to come up with a neat and  winning combination of promises and slogans, that have invariably paid dividends in the past.

At this point of time, it is difficult to predict the result of the election.   But the election itself should offer an insight into the minds of the Indian electorate, and the public at large.   Has the Indian electorate grown up?   Has it matured?   Has it developed the capacity of seperating the chaff from the grain?   Has it developed the ability to see through the politician’s empty promises?   Has it, at last, learned to recognize the real issues that affect its interests like poverty, unemployment, health, education etc.?   Or has it not learnt anything from its past experience and continues to labor under illusions and delusions?   Does fatalism still play a prominent role in decision making of the Indian electorate?   These, and many more questions will be answered soon.  

Conclusion:  To be fair,  the Indian voter, does not have much of a choice.   All the major political parties have been tried, tested, and found to be wanting.   And the new and smaller parties do not have the necessary fire power or the horse power to reach the goal post!  

Whatever the outcome of these elections, the winning party or combine may end up cursing their luck in winning the elections, given the developing economic crisis that is likely to hit India squarely in the coming months, if not weeks.  

LET THE TAMASHA BEGIN!

View expressed above are author’s personal.

OH AMERICA!

The current economic crisis in the West, has exposed some of the home truths about the supposed superiority of their system, a combination of ‘free elections’ and ‘free markets’.   America is  a case in point.

The first Presidential Election in the United States was held in the year 1789, more than 220 years ago!   And since then , there have been about 56 elections.   A record!   Even though the American electorate has not had much choice, with only two parties, the Democrats and the Republicans, to choose from.   And the Spoils System and crony Capitalism, being abiding features of the American landscape, the electorate’s freedom to choose, may not have much meaning.   Because they end up getting the same soup, with a different garnish!

Where America has done creditably well, perhaps, is, in tackling and overcoming, by and large, the problems of poverty, illiteracy, health, etc.   Even here, dissenting voices would tell us that there is a lot of hidden poverty in the United States, that a good percentage(some say 20%) of Americans cannot read, and that the American Health Care system is in the grip of the Pharmaceutical Companies, or the mafia, if you please.   But rightly or wrongly, America continues to attract all and sundry.   The steady stream of success stories thrown up by the system, successfully masks the unpalatable aspects of American life and times.

The unbroken chain of 56 elections in America in the past 220+ years, has cemented the image, in the minds of the people at large, of a system and a state that gives its citizens the right to choose and change their leadership every four years.    But the trained eye cannot fail to discern, that, behind the choice of the citizens, is the guiding hand of the mass media that practically hustles(?) the citizens into predetermined positions, that serve the interests of the powers that be.   It may, perhaps, be unfair, to compare the western mass media to a sheep dog that herds the flock(electorate) at the command of its Master(establishment).   But the influence of the mass media over the people’s choice in politics or fashion cannot be overestimated.

Coming back to the economic crisis, one would imagine that the true strength of a system lay in its ability to give its best in times of crisis.   At a time when it is needed most.   Does this hold good for the system of capitalism and free markets in America?   Right now the American Government is busy pumping in dozens of billions of dollars to prop up the crumbling edifices of the Big Business, that were once the pride of America, without realising, or rather, bothering about the fact, that its actions practically amount to nationalizing these Corporations.

The American establishment would have us believe that these measures are necessary under the circumstances, and that they are temporary, and that even if such actions result in majority Government ownership of these companies, it does not amount to nationalization!

The position of the American Government is unenviable, and its response to the situation, pathetic.   Is this the best the American system can come up with after nearly 225 years of Democracy, Freedom, Liberty, Education, and what not?   Where have all the whiz kids gone?   The products of the great American educational Institutions- Harvard, Stanford, Wharton?   And what about the so called Think Tanks?   At other times, read better times, these captains of free speech and intelligent thinking occupy the centerstage of political and economic discourse, dishing out their invaluable wisdom, by the ladlefuls.   (Do ‘invaluable’ and ‘ladleful’ go together?)  

It is, perhaps, time for the American establishment and the people, to clinically examine the inherent shortcomings of their system, and rejig the same, to allow for genuine dissent, and not the in-house variety, and to have the courage to introspect.

Come to think of it, one of the major reasons why America is in trouble, could be, that they have been too busy teaching others how to run their systems, and in the process, neglected their own!  May be its time for the Americans to look inward, and re-learn how to run their own system!

View expressed are author’s personal.

GOOD TALIBAN, BAD TALIBAN!

Good Taliban, Bad Taliban!   That is the new Mantra of the new American administration, trying to come to terms with the mess in Afghanistan, and more importantly, trying to negotiate, undeniably treacherous territory.   And the beaten path beckons, especially, when you are not sure.

Historical Perspective:  And just who are the Good and the Bad Taliban?   You guessed it right!   The Good Taliban are those, that support America and the West, and the Bad Taliban are those that oppose the West, especially, America!

In the 1980’s through the 90’s though, there was no such distinction within the Taliban.   There was only one Taliban, and that was the Good Taliban.   Because, they were fighting the Soviets who had occupied Afghanistan, with American assistance.   Of course, the Americans supported the Taliban for their own strategic interests, and not because they sympathised with them for the wrongful occupation of their country, by the Soviet Union.   Another point to be noted here is, that, the Taliban and the Al Qaeda were jointly fighting the Soviets and receiving military and other aid from the Americans.

The Americans did not mind hobnobbing with the Taliban and indeed the Al Qaeda, oh yes, in their determination to give a bloody nose to the red communists!   Ridding the world of Communism was well worth the price of  sleeping with the Taliban and the Al Qaeda.   And what was the rationale and purpose of eliminating the communists from the world political landscape?   Of course, not democracy, freedom and the like.   The Soviet Union stood in the way of America becoming the only Super Power of the world.   Then came the 911 (some say rigged up) and all that followed.

Emerging Scenario:  Now the Americans are up to their old game again.   Old habits…….!   There is talk of identifying, read dividing, the Taliban, read Afghans, into two distinct groups.   The Good and the Bad.   The good being pro-west, and the bad being anti-west.   A divided Taliban would fit in perfectly well with the Western strategy for the region.   The recent compromise of the Pakistan Government with the Taliban in the Swat Valley would appear to be part of this strategy.

Will the Taliban fall for this bait?   Does the Taliban have an inkling about what the United States and its allies, may have in store for them?   Will the United States succeed in dividing the Taliban?   Looking to the continued violence in the Swat Valley, one would be inclined to believe that America and its ally, Pakistan, are still some way away from befooling the Taliban.   The West seems to favor the same strategy against the Taliban, that they had successfully employed against the Palestine Liberation Organisation.   Remember how the PLO was broken up?   Now there are two groups of Palestinians, one good, that are aligned to the pro-west Mahmoud Abbas, and the other, anti-west aligned to the Hamas of Khaled Meshaal.   Once you divide a community into good and bad parts, it becomes that much easier to go after the ‘bad’ ones, the ‘terrorists’, with the added bonus of not being accountable for your actions.   After all, ‘terrorists’ that kill innocent women and children do not deserve our sympathy, do they?   But the fact remains, that, dividing the Palestinians has not brought peace to the the Middle East, and the expected dividends to Israel.

And so the great game goes on.   Only this time, with the West, especially the sole Super Power, beset, as it is, with crippling economic problems, may not be able to play the great game for much longer.

What could be the game plan of America and Pakistan?   To lull the Taliban into a false sense of security and then to make a ‘final assault’ to wipe them out?   In much the same way as the Israelis went after the Hamas in the Gaza, reportedly preparing for the ‘final assault’ during the six month long ceasefire?

View expressed are author’s personal.

THE GREAT INTEREST RATE SLIDE

Falling!   Falling!   Falling!   Interest Rates!   They are a falling.   And how?!   From the United States to India and in Britain, in between, interest rates have been sliding as never before in history.

The rationale for the frequent cuts in the interest rates is, among other things, to make credit more affordable to individuals and corporations, with the expectation of increase in the offtake of credit, and also to create a set of new borrowers!

Central Bankers around the world seem to think that reducing interest rates would do the trick of increasing public lending.   Rather simplistic, one might argue.   Because, public lending operations are carried out by Commercial Banks that are obliged to adhere to certain norms in their lending operations.   Non adherence to these norms can not only jeopardise the loan asset, but also get them into trouble with the Regulators, the Central Banks themselves.   That apart, they (commercial banks) would be doing a disservice to their depositor customers by violating sound lending norms.   In fact, the current banking crisis in the West is, in large measure, a result of non-compliance of sound banking principles and the lending norms.

What does a Commercial Banker look for in a potential borrower?   Among other things, the borrower’s eligibility for the loan requested by him, and his capacity to repay the loan, alongwith interest in the stipulated time.  

Reducing interest rates might increase the demand for loans, but a lending decision hinges on the borrower’s financial health.   To the extent that reduction in interest rates contributes to the increase in the number of eligible borrowers (those that qualify for a loan, and have the capacity to repay the same), interest rate reduction would have served its purpose.   But is that really the case?   A simple increase in the number of people lining up before the Banks for a loan is not sufficient indication of the success of the interest rate reduction formula.

The key to increasing lending, not only to corporate borrowers but also to the retail segment, is the increase in the demand for loans from quality borrowers, and not just an increase in the supply of money available for lending.   That is the crux of the matter.   Whereas Central Banks may have control over the levers that enable them to increase the money supply, and thereby the demand for loans, they do not have control over the supply of quality borrowers.   That depends on the overall economic situation, especially the job situation.

The current job scene as it is now, with layoffs, freeze on new hiring, business failures across sectors, etc., becoming a daily occurance, the number of quality borrowers, would, in fact, tend to come down.   How then would you expect the commercial  banks to lend more?   And to who?   Must the banks lend to second and third rate borrowers and risk the health of the institution, apart from earning the wrath of the regulators?   That is the million dollar question.   It also underlines the limitations of the Central Banks in living up to the expectations of the political establishment, as well as the general public.

The coming months may see a war of sorts between the Central Banks and the Commercial Banks, each blaming the other for not doing enough to alleviate the pains of the current economic crisis.   The truth of the matter is that this crisis is a result of faulty policies  pursued over a long period of time, and can neither be wished away, nor easily resolved.

It may be some time before the crisis plays out its course, and normalcy is restored.   How long a time would that be?   Does anyone know?

Views expressed above are personal.

H-1B AND INDIAN MIDDLE CLASSES

The H-1B visa is a non immigrant visa of the United States, that allows a certain number of aliens in specialty occupations like engineering, architecture, mathematics, accounting, law, etc, to take up temporary employment in the United States, if similarly qualified American nationals are not available, to fill up the vacancies.

Allegations about the misuse of this visa by American employers have been mounting over the years.   It would appear that there is, indeed, some truth in the allegations,  that, often, American Corporations, especially those in the Information Technology areas, employ aliens for lower wages than they would pay Americans for the same work,  by making false declarations to the American Immigration authorities about the non availability of qualified local candidates for these jobs.   And India keeps cornering the lion’s, or shall we say the rat’s share, of these visas.   Among Indian entities, it is the IT companies that grab the major share of these visas.   And among the Indian I.T. Companies, the Top Four are said to get the major share of the H-1B visas.

President Obama’s initiatives in the economic and trade areas have impacted on American immigration matters, as expected, and have adversely affected the fortunes of Indian professionals, especially of the I.T. variety, who until recently seemed to have a free run of the American Immigration System.   Obama is certainly bad news for the Indian Middle Classes that are hooked to the American Green Card, and see their future tied to the U.S. than to their own homeland.

The Indian Middle Class gentry is an altogether special category of piranha fish that is never satisfied with any amount of  worldly possessions.   Tomes could be written on the legendary, even shameful craze of the Indian Middle Classes for the American Green Card and American citizenship.   And it is not only the lower middle classes that are enamoured with the green card.   In fact, the higher you go up the Indian middle class hierarchy, the more craze for American citizenship.   Whether it is top officials in Government, including the ultra sensitive Departments, or top flying executives in the Banking sector or private companies, any one that is someone in the middles classes in India has a son or daughter settled in the U.S. or on the way to it.

The rapacity of the Indian middle classes in exploiting the system for personal gain has few parallels.  They corner the resources within the country to ensure a comfortable life for themselves, and thereafter work the system to get out of the country(!) and land up in the U.S.of A on any kind of visa they can grab.   With one leg in India and the other in the U.S. they enjoy the best of both the worlds.

Now with the American economy in serious trouble, and the American leadership constrained to protect local interests, the dream run of the Indian middle class parasites is running out of steam, it would appear.   With more and more American companies laying off their workers and unemployment at an 8.1% it is only at their personal peril,  that the American leadership, either corporate or political, can continue to support the employment of aliens in large numbers, at the cost of the locals.

With the real possibility of the American dream souring, and the green card going farther and farther away from their grip, the position of the Indian middle classes is like a drug addict going without his daily fix.   They are in a real tizzy now that going to America is no longer easy as it used to be.

It remains to be seen how far the Indian middle classes would subvert India’s national interests in the pursuit of their American dreams.

Views expressed above are personal ones of the author.

My Word!

Hypocrisy is a common trait among human beings.   It is neither region, religion, nor color specific.  Though the degree and proportion of it may vary from place to place, and time to time.

The scheduled auction of Mahatma Gandhi’s personal effects by the auction house, Antiquorum in New York on Friday, the 6th of March, has exposed Indian hypocrisy to a worldwide audience.

Gandhi’s philosophy of non violence and religious harmony is yet to be accepted by the majority of Indians in letter and spirit.   Especially in his home state of Gujarat, that has seen recurring incidents of violence over time, reaching genocidal proportions in 2002 in Godhra.   Religious strife in India is taking newer and more dangerous forms, imperilling the very stability of the state.

The Indian Government wants the personal effects of the Mahatma, that include his spectacles, a pair of leather sandals, etc., repatriated to India.   It is examining various ways in which to accomplish this, including the legal option.

The key question to answer for the Government of India is, whether it has a list of all such artefacts of national and historical value, in the possession of foreign individuals and institutions;  and if so, what efforts it has made so far to get them back to India.   It does not do any credit to India’s image if the Government were to be seen making noises whenever such an incident occurs, only to lapse into amnesia once the issue is resolved, either to its satisfaction, or otherwise.  

Meanwhile Mr.Otis, the ‘owner’ of the artefacts under contention, has made an offer to the Indian Government to return the items to India, gratis, provided the Government does something practical to reaffirm its committment to the ideals of the Mahatma, like making higher allocation for education, and generally to do something for the poorest of India.  

While one would not venture into the issue of Mr.Otis’ sincerity in this matter, it is a fact that the Indian Government has put itself in a unenviable position on account of its less than enthusiastic approach to issues of national heritage, that is evident in so many other aspects of its functioning.

Views expressed here are personal ones of the author.

THE GULF DOOM!

Is it the end of the Gulf Boom?   Is it time to write the obit of the Gulf Boom?   By all available indications, yes!   A regular stream of expatriates is returning to India and other countries of the Third World, with broken dreams in their suitcases.

The lucky ones are those that have already made their pot of gold, and have to look for a job in their country, more for an occupation than for subsistence.   The unlucky ones are those that had borrowed money to chase their dreams, and have now to go back to their places and face the moneylenders.   It is a tragedy being played out across the Indian subcontinent, and some other countries in the less developed world.

So how do we rationalise this tragedy?   Who do we hold responsible for this unfolding tragedy?   The Government, the Citizens, fate, circumstances?   On balance, it would appear that the Governments and their citizens are responsible in almost equal measure, with the scale tilting slightly towards the Government.

One of the simple and abiding truths of life is, when you depend on others for anything, you are risking your own interests, and putting yourselves at the sweet mercies of the others.   The overdependence of countries like India on overseas jobs to take care of their unemployed millions has now boomeranged on them, and it may be only a matter of months before the deluge of returning for good expatriates delivers a body blow to their already wobbling economies.

It is an undeniable fact that Governments in many of the less developed countries like India, Pakistan, Philippines, etc., have taken the easy way out to deal with the unemployment problem by encouraging their citizens to migarate to the Gulf and other prosperous destinations, instead of making concerted efforts to fulfil their basic responsibilities towards their citizens.   What’s more they get cheap foreign exchange by way of remittances from the expatriates.   On their part, the citizens of these countries have also not bothered to fight for their rights in their own land.   Rather, they have taken the easy way out by taking up jobs abroad, than traverse the rough road of activism to bring about responsible governance in their own countries.  

So long as the going was good, neither the Governments, nor their citizens bothered about the implications of their respective actions or inaction.   But all good things have to come to an end.   And so it is with the Gulf Boom.

What now?   Increase in unemployment, social tensions, religious strife, political instability, economic chaos, crimes etc., etc.   We are in for some pretty tough times ahead.   It is a scary scenario alright!

On the brighter side, this situation offers both the Governments and the citizens of the affected countries, to ponder over their past mindless conduct, and their penchant to skirt chronic problems, and to finally put their collective heads together and find solutions for the exploding problem of the Gulf Doom.   And if that happens, there may yet be a chance to escape the worst consequences of this developing tragedy.

Views expressed above are the personal ones of the author.

My Word!

The recent spat between the British Prime Minister, Mr.Gordon Brown, and Sir. Fred Goodwin, the disgraced, Ex Chief Executive of the Royal Bank of Scotland, is quite interesting to study, as a case of the Politician Vs the Banker.

Mr.Brown clearly thinks, that Sir Fred Goodwin, does not in the least deserve the ₤ 703,000.00 pension that RBS has so generously granted to one of their fallen angels.   So incensed is the British Prime Minister with this affront to all principles of  corporate governance, that he has even threatened to have the pension revoked etc.

Sir. Goodwin, on his part though, has stood his ground against all attacks against his retierment benefits.   Who does not want to lead a peaceful retired life!   That apart the gentleman is, perhaps, also upholding his honor as a Knight of the British Empire!

The real interesting part of this episode is that, politicians have, perhaps, for the first time, an opportunity to show someone other than themselves in poorer light!   The recent Bank failures have, in general, cast a shadow on the respectablility and integrity of Bankers.   Public perceptions of Bankers and the Banking industry as a solid pillar of society have taken a beating, and it might take a long, long time to restore their faith in this institution, and those who run it.

The politician sees a great opportunity in this Banking mess to present himself as ‘cleaner than them’.   No wonder Mr.Brown, the good politician that he is, doesn’t want to let go this opportunity.   The future course of this controversy would be worth watching and learning from!

Views expressed above are personal ones of the author.

My Word!

The British Prime Minister is visiting the United States of America to meet with the new occupant of the White House, Mr.Barack Obama.   And both the countries have reaffirmed their ’special relationship’ after the first meeting of the two leaders.  

However, an undercurrent of tension could be discerned between the two traditional allies (especially  in rogue ventures)!   Also the kind of brotherhood evident between their predecessors, Mr. Tony Blair and Mr. George Bush was clearly missing here.

The British are  concerned by the seemingly protectionist tone and tenor of recent American Trade Policies, in the wake of the economic meltdown, for example the Be American, Buy American type of exhortations and stipulations, aimed at American Companies, especially those receiving Government fiscal and monetary support.

It would be interesting to see what sort of changes may come about in  this ’special relationship’ in the coming weeks.

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