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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO
SYNT 40.990.0%Oct 10 5:00 PM EST
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To: JDN who wrote (1641)5/14/1998 2:07:00 AM
From: P. Ramamoorthy  Read Replies (3) of 2761
 
Dear JDN - Re.: most of the World if not all will side with China
Remember Tienenman square massacre! Chinese tanks and student protesters! US imposed sanctions on China. What happened? The US business lobby got it lifted. Every time the human rights issue comes up, China gets the MFN (most favored nation) status.
Now some figure about US sanctions on India. (Russia and France did not go along. Canada, UK, etc. were not ready to comment. Japan acted by stopping the $1Billion aid. Compared to Japan, US aid of 100-143 million is not much.)
US aid of $100Million is much small compared to India's GDP of $400 Billion. Trade impact - India exports to US about $7.3 Billion, imports from US about $7.7 Billion. $7Billion trade with US represents only 10% of all export. India exports mostly to third world and OEC countries. About 60% of the US aid of $100Million is left unused since the aid is for projects and requires dollar matching from local sources. Local sources do not raise funds. Nearly 750Million of this aid remains unused. India is paying 1% interest on the aid money that is not used. US sanctions will affect mostly the US companies. Clinton did the right thing by imposing the sanctions. That is the US law. India did their tests to assure their security (against China). We can expect the business lobby would get it lifted in 6 months. Another static I found - US nuclear tests 1200, Russia 700, China 45, India 6. About 20 years ago, India was not self-reliant and sanctions would have an effect. (Source: Rediff.) Ram
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