Tuesday, May 30, 2006

Economic Patriotism

Earlier it was Arcelor with Mittal Steel, and now it happened to UB /Mallya (by Taittinger).
Read the detailed story here by Hindustan Times
This is clearly European protectionism against globalization. In 90's West / Europe was bullish behind third world countries for globalization policies, investments and take-overs and reached almost every corner of the world. No body in the third world has a chance to escape but implemented/followed the globalization policies. Mc Donald’s, KFC, Colas, Insurance, Banking and tens of retailers started chains or took over major local brands (Parle' and others), and their strong network. No body protested against it, but realized the transformation.
When Mallya (highest bidder as per media) tried to acquire Taittinger, local groups resisted his bid, saying they did not want a non-French owner, what? helloooo.. Where were those folks when US-based Starwood Capital acquired them last year? Actually it’s more than patriotism, its business racism.
They look for billions deal with Airbus against US based Boeing, but they don't want Asian roots on their soil! Enough of colonialism, west domination dude! India is now not just a service colony for west, we are emerging, we are ready to give the world our innovations, entrepreneurship, products and service! I always have respects to the west for their innovations, entrepreneurship but dude… it’s high time. We also there now!
My respects to all great entrepreneurs and their efforts to taking India, a global player!

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