The Indian stock market reopened for trading today, after having closed on Thursday following the terrorist attacks in Mumbai, India’s commercial capital. After an initial fall, the markets were behaving normally once trading started, said a strategist working for a research firm. However concerns do exist that the attacks may have a longer-term economic impact.
This is not the first time that Mumbai has faced terror attacks. Each time the city has been attacked that city has only bounced back, that is the spirit of the people of Mumbai. The people of the city as well as the businesses in the city and the foreign investors rest assured that the city will not let them down. A standard Chartered Bank employee is quoted as saying “this time will be no exception.”
In my opinion it is clear that the attacks were just to destabilize the country as the attackers seem to have no other motive in particular other than just making their presence felt. Being from the city however, I feel like this time it is different. Mumbai is known to bounce back each time but this time the city seems shattered. It is or rather was the safest city in the country and now news clips show not a soul on the streets once its dark. I mean the city will definitely bounce back but I don’t think it will be like all other time when come Monday and people just carry on with their life and pretend nothing ever happened. This time I feel the impact is deeper hence I am not surprised when they say that the concern of a long-term economic impact exist.
5 comments:
I read an article on India bounce back. And it said that Mumbai has the most beneficial time zones in the world. It's main hours of operation coincide with the main hours of operation in Tokyo, and London and New York. That's crazy. It also said that this was India's version of 9/11. I think its waaaay too early to determine that. 9/11 changed the US's foreign policy in a major way forever.
The only captured attacker is from Pakistan so far, this will do one of two things for Pakistan-Indian relations....
Vance...India and Pakistan have had many 9/11s. The sad thing is that its becoming a way of life. I agree that 9/11 was a very sad day in the history if America and all that but the US needs to realize that things like 9/11 are happening everyday all over the world. And a joint action is required to stop this.
Don't misunderstand my point Anisha. I in no way want to downplay the attacks and the strain they have left on India, it's financial sector, their relation to Pakistan, terrorism the list goes on...I know no other american who follows the kashmir situation as intently as i do.
That being said people need to stop comparing attacks and tragedies that may seem similar on the surface but but in the context of history are very different. This is not your 9/11 this is your Mumbai Nov 26. Both dates will remain infamous in the history of the respective countries.
This is not your 9/11 precisely for the reason that you have had others. It has taken 8 years for for us to understand the effects of 9/11 and people are still finding out. Take the Bush Doctrine for instance. It states that first for the first time in history the US can pre-emptively attack another country! Another lesser known part is that a country housing terrorists that do not cooperate with the US are just as bad as the terrorists. These are just two major changes in american foreign policy. Indian foreign policy might change forever it might not. But we don't know yet. and all i said was it was waaaaay too early to tell.
Hey Vance...I was not indicating that you are downplaying the attack on mumbai just that its becoming a way of life in the indian subcontinent and thats not the way it should be. All i am saying, is oretty much what you are saying, its not the time to compare attacks and which one is better or worse and such. Just that the world as one needs to take a united stand and preventing these day to day occurences. Yes, these attacks may result in a change in foreign policy etc. or not, all i am saying is that we should not let the matter die instead do something to prevent attacks other countries in the future.
What makes me happy though is that America realizes the seriousness of the attack which i hope will only result in it taking some serious action, being the powerful nation that it is.
I hope so too Anisha...I hope so too. I also worry about our resources (military, financial and otherwise).
I agree 100 percent this will take a concerted effort from the world.
On a separate note.
While I am not a fan of Bush's foriegn policy that has been a major part of leading us to this point, I think the US has burned an unfair responsibility in fighting the "war on terror". This effort needs to become a more multilateral one, the world can't do it without the US and the US can't do it without the world.
good discussion =)
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