Bush blames India...?
Now I know that President George Bush is not most popular of people, but is that reason enough for ET to title their story, 'Bush now blames Indian middle class for rising food prices'?
What the President stated was an economic fact. There was no 'blame', in fact his statement was a compliment to a country that is demanding better products and services for consumption. Judge for yourselves.
'Worldwide there is increasing demand. There turns out to be prosperity in developing world, which is good. It's going to be good for you because you'll be selling products into countries -- big countries perhaps -- and it's hard to sell products into countries that aren't prosperous. In other words, the more prosperous the world is, the more opportunity there is.
It also, however, increases demand. So, for example, just as an interesting thought for you, there are 350 million people in India who are classified as middle class. That's bigger than America. Their middle class is larger than our entire population. And when you start getting wealth, you start demanding better nutrition and better food. And so demand is high, and that causes the price to go up.'
What the President stated was an economic fact. There was no 'blame', in fact his statement was a compliment to a country that is demanding better products and services for consumption. Judge for yourselves.
'Worldwide there is increasing demand. There turns out to be prosperity in developing world, which is good. It's going to be good for you because you'll be selling products into countries -- big countries perhaps -- and it's hard to sell products into countries that aren't prosperous. In other words, the more prosperous the world is, the more opportunity there is.
It also, however, increases demand. So, for example, just as an interesting thought for you, there are 350 million people in India who are classified as middle class. That's bigger than America. Their middle class is larger than our entire population. And when you start getting wealth, you start demanding better nutrition and better food. And so demand is high, and that causes the price to go up.'
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