Singh of India endorses 'Quantitative Easing'

During President Obama's trip to India, he unsurprisingly offered support to the FED's recent decision to engage in quantitative easing to help the still ailing US economy. But, to many people and many countries' surprise, Manmohan Singh - the Prime Minister of India - also offered support for the move. Singh said that it is in the best interest of the world to have an American economy that is robust and growing, and that quantitative easing is a move towards that goal. This comes at a time when other countries, like China and Brazil, have criticized the move as a way of 'artificially' devaluing the dollar in an unfair trade practice. Both the President's and the Prime Minister's comments came at an economic meeting in which the Obama Administration aims to open up more trade opportunities between the two countries.