ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Calcutta Diary

The Republic of Argentina has proved the point. It is not necessarily TINA. There can be an alternative, there is an alternative. Suppose, way back in 1991, the Indian ruling class, instead of capitulating, had defaulted on the country's external debt commitments, India need not have gone down either.

A new year and much uncertainty in the air. It should really not be though. For things are as they were: no mindset changes in a world riven by disequilibria.

Does it matter if the image flashed on the Al-Jazeera television screen in the last week of December was of Osama bin Laden alive or the apparition of a dead Laden? What is far more relevant is the tidings conveyed: the demon the Americans wanted to crush is still very much kicking; the threat to strike terror against the superpower has only been adjourned, and not annihilated. The telecast carried a further message, in fact, a crucial one: in the holy war against the US, the strategic target to aim at is the American economy; hurt the economy good and proper; Pax-America is bound to be on its last legs then.

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