MEDIA REACTION: WORLD ECONOMIC CRISIS, U.S.-

UNCLAS SECTION 01 OF 02 NEW DELHI 002930 SIPDIS STATE FOR NP, AC, PM STATE FOR INR/MR STATE FOR SCA/INS, PM/CBM, PM/PRO STATE FOR SCA/PPD, PA/RRU STATE FOR AID/APRE-A USDOC FOR 4530/IEP/ANESA/OSA FOR BILL MURPHY E.O. 12958:N/A TAGS: KMDR KPAO PGOV PREL IN SUBJECT: MEDIA REACTION: WORLD ECONOMIC CRISIS, U.S.- INDIA RELATIONS: OBAMA PRESIDENCY; NEW DELHI-NOVEMBER 15- 17, 2008. This cable reports on relevant media reaction from India's large non-English press. Embassy New Delhi reports on English-language media via email in the daily "Early Edition". USG customers please write to Geeta Krishali (KrishaliG@state.gov) to subscribe to the "Early Edition." -------------- WORLD ECONOMIC CRISIS -------------- ¶1. "FIGHT AGAINST RECESSION," editorial in the November 16 DAINIK JAGRAN Hindi daily: "The situation calls for such a global regulatory system, which warns the world in advance of a crisis. The two renowned U.S.-led financial institutions-- IMF and the World Bank --should realize that their negligence has created the crisis of credibility before them. Since, the global economy is still lead by the Gruop-20 rich countries, they should follow India's advice that the U.S. and Europe should first take care of their domestic front.... Now, only the developing countries can help the developed nations to overcome the present economic crisis because it is much easier to create demand in countries like India and Brazil. It is noteworthy that now the developing countries will have to advice the developed nations to avoid protectionism because so far the developing countries were getting such advice." ¶2. "PERMANENT SOLUTION TO THE FINANCIAL CRISIS," opinion article in the November 15 RASHTRIYA SAHARA Hindi daily by Bharat Dogra: "The G-20 summit is organized in Washington to solve the current financial crisis. But, will it, actually, find a balanced and permanent solution to this crisis? A few rich nations, which decide the international financial system, just defend their personal interests.... The U.S. has recently announced the 700-billion-dollar economic rescue package to save its economy. The same U.S. government opposes it when it comes to the developing countries. The U.S. government should ensure that the use of this money is transparent under legal bindings. The basic lesson for the developing countries like India is that they should not make their economy, especially their financial sector, dependent on the developed nations, particularly the U.S. to protect ourselves from the instability occurred in these countries. India should emphasize on the fundamental reforms in the international financial institutions like the IMF, World Bank and the WTO to change the anti- developing-countries policies." -------------- US-INDIA RELATIONS: OBAMA PRESIDENCY -------------- ¶3. "USELESS CONCERN ON CTBT," op-ed article in the November 16 DAINIK JAGRAN Hindi daily by strategic affairs analyst K. Subrahamanyam: "The Indian strategic community's concern that U.S. president-elect Barack Obama could pressure India to sign the CTBT is NEW DELHI 00002930 002 OF 002 meaningless because he needs at least 10 Republican votes to get it approved by the U.S. Senate. But, they are unwilling to do.... Thus, it is not Obama's priority. He first has to face more important challenges, most importantly the economic crisis, and one year would easily pass in this process. Till then the picture of the U.S.-Russia nuclear relations, the missile defense and international security will be clear. Meanwhile, India will be free from the nuclear restrictions and would establish civilian-nuclear relations with Russia, France and the U.S. The world will also realize the importance of cooperation in the process of dealing with the financial crisis. In this way, a lot of changes will take place in the world in the next one year." ¶4. "HILLARY AS THE SECRETARY OF STATE!" editorial in the November 16, 2008, Mumbai edition of centrist Marathi daily LOKMAT. "President-elect Barack Obama's thinking on the lines of offering the Secretary of State post to his vanquished Democratic rival Hillary Clinton is good news for India. It speaks of Obama's style of functioning and his consensual politics. It also shows his daring to vest confidence in an ambitious political rival who way vying for the top job in White House. Obama seems to be really following the Abraham Lincoln model of filling his cabinet with a team of rivals. Besides Clinton has a reasonable understanding of U.S. foreign policy. Even during her days as the 'First Lady' she has taken on crucial responsibilities. Her autobiography says she can connect with heads-of-state of 75 countries. She is also known to have taken a strong position against terrorism. Since global war on terror tops Obama's plans, and especially since he has even shown the readiness to take military action against Pakistan-sponsored terrorism, there is no better person than Hillary Clinton to execute all this..." WHITE