Pak leader moots common currency for India and Pakistan

[Jango]

First of all, Jehangir Badar is not a leader in the true sense. He is just another do taka politician.

Secondly, this whole Aman Ki asha thing is going too far too quickly to be frank. Why not just open the borders completely while we are at it eh?

This is just political talk, let's not take this too much seriously.

 

[Jade]

No thank you, we've seen how the Euro is faring up in the face of economic sanctions. If there's another recession, foreign investment will go down and Indian economy will take a dip along with the rest of the world. Whereas Pakistan's economy with an agrarian staple will remain afloat. Screw Badar, he's an idiot anyway.

I agree with your first part. Stronger currency indicate a stronger economy; Currency is an asset. By forming a economic union you would dilute you stake in your own currency, and may even loose having your own monetary policy. however, I could not get your second point. Recessions are anomalies than norms. And recessions effect all economics, because you produce less than your potential in recession times

 

[cyphercide]

Sure. Pakistan is free to scrap it's currency and instate the Indian Rupee via direct purchases from the RBI.


Anything else can take the long hike.

 

[Emmie]

I doubt sane here would even feel like to moot on this moot.

No surprise, Badr is known for his silly mentality and hilarious accent.

 

[Icarus]

I agree with your first part. Stronger currency indicate a stronger economy; Currency is an asset. By forming a economic union you would dilute you stake in your own currency, and may even loose having your own monetary policy. however, I could not get your second point. Recessions are anomalies than norms. And recessions effect all economics, because you produce less than your potential in recession times

There's a certain group among economists that believe in having a certain degree your economy based on Agriculture because it is the only true recession-proof industry. The returns are lower but it saves from a complete economic meltdown.

 

[1ndy]

End of fake Indian currency from Pak. Its good for us.

 

[Jade]

There's a certain group among economists that believe in having a certain degree your economy based on Agriculture because it is the only true recession-proof industry. The returns are lower but it saves from a complete economic meltdown.

I hope this point would not stop Pakistan from aiming to have an advanced economy in future

 

[Abingdonboy]

I can understand the benefits for India, its much larger economy would ensure a huge comparative advantage over Pakistan with India's huge economies of scale and India would be able to dominate the Pakistani market for almost all goods. Also Pakistan would be able to "piggyback" on India's economic success and be able to do business with the outside world at a more desirable ER rate and with the weight of one of the biggest economies in the world behind them and as India becomes the 5th then the 3rd then the 2nd biggest economy in the world Pakistan will have pulled of quite a coup. However given India and Pakistan can't even agree on the most basic of issues as it stands and the level of distrust between the two nations is significant it is frankly absurd to suggest such a measure today. This sort of economic union is for the closest of friends not the worst of allies. India and Pakistan haven't even got the most basic of frameworks in place that could eventually lead to such a thing so how can one suggest such a measure??

What nonsense.

 

[arp2041]

No thank you, we've seen how the Euro is faring up in the face of economic sanctions. If there's another recession, foreign investment will go down and Indian economy will take a dip along with the rest of the world. Whereas Pakistan's economy with an agrarian staple will remain afloat. Screw Badar, he's an idiot anyway.

Though i m not an expert in economics, but I m sorry to say Icarus that this post of urs is somewhat based on Patriotism rather than pure economics, in fact the idea the leader gave could be a boon for the Pakistani economy & very bad for Indian economy. Indian economy is booming & is currently the second fastest growing economy. Currently Indian rupee is at 53 vis-a-vis a dollar while Pakistani rupee is at 95 to a dollar. Having a common currency will give Pakistan a much stronger currency in the International market, which can compete much better to a dollar, while India will have to bear the consequences of common currency since it's own rupee will get depreciated owing to weak Pakistani economy. Thus imports become cheaper for Pakistan, on which the Pakistani economy (& military ) is dependent.

As far as ur argument of ,Indian economy taking a dip & Pakistan economy remaining stable, goes than no one can believe that, Indian economy remained stable even when one of the severest recession hit the world in 2008 when India still clocked a 7% growth rate while Pakistan was finding hard even to register 2% mark.

+ On a lighter note, not to forget that Pakistan wouldn't have to set up a separate facility to flood Indian economy with fake Indian currency

 

[rubyjackass]

If existing currencies are left to be, then having a second currency common across all countries is a good idea. It will lead to a lot of savings in dollar conversions. If the proposal is to have a Euro like currency which invalidated all German DMs, then it is stupid. India will spend time bailing out failing economies. I believe the PPP guys proposal is of the first kind.

 

[arp2041]

If existing currencies are left to be, then having a second currency common across all countries is a good idea. It will lead to a lot of savings in dollar conversions. If the proposal is to have a Euro like currency which invalidated all German DMs, then it is stupid. India will spend time bailing out failing economies. I believe the PPP guys proposal is of the first kind.

Not a good idea mate, always the more stronger of the two currencies will prevail, so the idea which u initiated by having two currencies, will finally result in only one - SURVIVAL OF THE FITTEST

 

[third eye]

The whole of South Asia(geographical proximity) & our history/culture for one !

Economy does not run based on history & Culture.

 

[Awesome]

Thanks .

But no thanks.

Besides other reasons...The ISI shall then have to make no effort to make counterfeits , there will be no ways to check its influx either.

Actually we have similar counterfeiting problems suspected upon India. Make note a common currency would at least eliminate Pak as a suspect as it would hurt us both.

 

[Hyde]

Common currency is eminent for every regional block in future.

There will be a time when the entire Middle East will have one common currency like Euro, South Asia for another common currency, Central Asian Republic for one common currency and possibly Afghanistan being part of it, Dollar already is being used for several countries so no problem in that. One or two common currencies in Africa as well as other parts of the world

Welcome to the future

 

[somebozo]

After destroying Pakistan industry we are left with no choice but to import them from India..Pakistan Kappay..Geo Zardari..he is doing a good service to his master..good dog!

End of fake Indian currency from Pak. Its good for us.

And rise of more fake currency printed genuinely!