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FDI boon for haves and doom for have nots
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Dear Editor,

World Trade Organization (WTO), an international body propped up by the super power and its allies coined the word ‘globalization’ and ‘economic reforms’ with a view to serve their own vested interests by exploiting natural resources and the manpower of the developing and the underdeveloped countries. The rulers of the developed countries launched these slogans, claiming that the steps will improve the national economy for which the people had to bear with the changeover for some time.

Even after two decades, the rulers still harp on this kind of claim that this will reduce poverty; create more job opportunities and so on. FDI has been allowed in every field of activity opening up the floodgates of opportunities for the big businessmen, MNC’s and the foreign investors while on the other hand, the working class suffered retrenchment under hire and fire, golden handshake, use and throw methods adopted by the exploiting ruler classes of all hues and colors. Prices of all essential commodities sky rocketed and the economies of developing and the developed countries suffered upheavals.

The Government allowed FDI in the retail sector, banking, pension and the insurance sectors as well, throwing hard earned money of the working classes and the toiling masses to speculations, ups and downs in the market. The rulers laughably argue that the price rise is an international phenomenon and not a local problem and rise in the prices indicates that the country was progressing.

Common man thus feels insulted and cheated by the exploiting ruling classes.

—Krishan Singh,

Talab Tillo, Jammu.
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News Updated at : Tuesday, November 27, 2012
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