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Dr. Narayan,
I have heard tow comments from separate people about Russia and India.
That what has happened in Asia is going to happen to Russia and India.
One of these persons works for American Express fairly high up. He has
always been honest and fair with my wife. What is going to be the
catalyst for disaster he didn't say. But he was just waiting for the
problems to happen. Just a matter of time.
If you have some due diligence try to check India's balance of payments
and current account if you can. Then compare it with some of the other
countries like Brazil, Hong Kong, Japan. Make comparisons prior to the
Asian crisis and after. This can give you some feed back on the
soundness of the Indian economy.
Next time I see Fred (American Express), I'll ask him a few more
questions.
I have a very good friend who live in Mambay, India. So I am a little
concerned about he and his families wealth if something does happen.
Best of luck,
Harley
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