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Tsunami, India, Economic effects

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posted on Dec, 28 2004 @ 01:43 PM
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I was just currious if anyone had any ideas on what effect this is going to have on the economy and all of the outsourcing that is going to India? Will the US feel the effects economically from the devestation that has occured there?

I would also just like to say how deeply sorry I am for all of those people that have lost loved ones, houses, pets, etc... I sincerely hope everything gets back to normal for them soon and wish them well.


Kata




posted on Dec, 28 2004 @ 05:47 PM
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None IMO - Bangalore and other tech areas were not affected, not were any major ports. Will hurt any gov spending though as the eastern area is quite economically depressed and that may limit spending in tech areas. Whole area is going to be hit hard.

It will cycle though - prices for tourism and real estate will drop as people will freak in the short term, then speculators will come back in to rebuild - probably with healthy gov support for outside investment. Good time to start snapping up bargains in Phuket as it will bounce back as will the Maldives. Sri Lanka and eastern Sumatra and India will probably be looked over - too much poverty, terrorism and the like....



posted on Dec, 28 2004 @ 07:21 PM
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Hey Kata you might find this story interesting: Quake's economic costs emerging



The World Bank, which provides about $20bn a year in development aid to the world's poorest countries, said it was in talks with a number of countries including Sri Lanka and Indonesia about redirecting existing loans to the rebuilding process.

The damage to life and property has been on a massive scale

"With the enormous displacement of people...there will be a serious relaxation of fiscal policy," Glenn Maguire, chief economist for the region at Societe Generale, told Agence France Presse.

"The economic impact of it will certainly be large, but it should not be enough to derail the momentum of the region in 2005," he said.

"First and foremost this is a human tragedy."


I wish all economists and banks owners will remember that last statement in this quote ...

[edit on 28-12-2004 by jazzgul]



posted on Dec, 29 2004 @ 02:14 AM
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Well India didn't get affected that much. All the tech cities were spared except Madras, even that had damage only to its outskirts.

Only economic damage I see is too the fishing business. Many fishing villages have lost all their occupants.

But other country's economies will be devastated, for example Sri Lanka and Indonesia, especially Indonesia's tourist profits.

Surf



posted on Dec, 29 2004 @ 04:51 AM
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political consequences: west-Atjeh lost many of its rebel movement against the indonesian government.



posted on Dec, 30 2004 @ 07:19 AM
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The Mumbai stock exchange actually closed with significant gains these last couple days



posted on Dec, 30 2004 @ 11:54 PM
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I would just like to thank all of you who answered. The links and comments were very informational. Kudos and thanks to all of you.

Kata



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