ISSN 2330-717X

Steve Hanke: ‘Modi Is Pushing India Into A Backwater’ – OpEd


On January 16, 2020, P. Rajendran, published an interview in with Prof. Steve H. Hanke of the Johns Hopkins University, one of the world’s greatest economists.  According to Professor Hanke; “Narendra Damodardas Modi is making all the wrong moves by stoking sectarian feuds and polarizing the Indian population. My main concern is that once you get into ethnicity and religion, and drag those two topics into a political agenda, you are asking for trouble.”    

Furthermore, the Johns Hopkins Professor underlines: “Modi wants to play more and more ethnicity and religious cards. It is a miscalculation in the immediate run.  It creates a lot of investment problems.  Outsiders looking at India may not know about contemporary history.  They see problems with the police and in civil society, and raids on university campuses. Furthermore, civil strife distracts politicians from doing what they should be doing.”

For Professor Hanke: “the primary thing is the economy. While India has a potential growth rate of eight percent, this year it will have trouble getting even to five percent.”

Considering the current ethnic turmoil in India’s border territories with Pakistan; Professor Hanke is against all actions that will disrupt a country’s business environment, and as a result, diminish its potential in the global economy and towards championing a thriving capitalist system.

As a former senior economist to President Ronald W. Reagan (1981-1982), with a focus in privatization and as chief economic adviser to President Suharto of Indonesia (1998), Professor Hanke emphasizes that “there is nothing without stability, for the Indian prime minister there is a negative confidence beyond his base. In local elections, he and his party are not doing well. Unfortunately, Modi is pushing India into a backwater.”

To read the full interview please click here.

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Peter Tase

Peter Tase

Peter Tase is a contributor, freelance journalist and a research scholar of Paraguayan Studies and Latin American Affairs in the United States; he is the founder of Paraguay Economic Forum in Milwaukee, United States. Educated at the University of Wisconsin - Milwaukee and Marquette University, Tase is the author of "Simultaneous Dictionary in Five Languages: Guarani, English, Italian, Albanian and Spanish" and "El Dr. FEDERICO FRANCO y Su Mandato Presidencial en la Historia del Paraguay." Tase has written many articles on Paraguay's current Foreign Policy, Latin American Affairs and MERCOSUR regional trade issues for Eurasia Review and the Council on Hemispheric Affairs in Washington, D.C.. Peter has appeared on SNT Cerro Cora, Asuncion and appeared in “Tribuna Pública” in TV Publica Paraguay, as well as given interviews for Diario 5 Dias in Paraguay, ABC Color, Ultima Hora, IP Paraguay, Revista PLUS+, Radio Ñandutí, Radio Nacional del Paraguay, and Spero News. Tase completed a Congressional Internship in the Office of Congressman Richard Pombo (CA-11), U.S. House of Representatives, and studied U.S. Government and International Affairs at the Les Aspin Center for Government in Washington, D.C.. In 2012 he was an adviser of Foreign Affairs and International trade Issues to the Chairman of the Committee on Trade, Tourism and Industry in the National Congress of Paraguay. Peter Tase is fluent in Guarani, Italian, Spanish, Albanian and mainly writes in English and Spanish.

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