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The unique position of Manmohan Singh

I’ve often been asked about my political views, and I say that all politicians suck. I might agree with one of them on one issue some day, and might call him or her a total nincompoop on some other issue.

One of the very few people in politics that I truly respect and trust (not surprisingly) is Dr. Manmohan Singh. I think that he is the only person with personal credibility and total integrity. I might not agree with everything that his government has done over the past 5 years, but one can’t have everything that one wants.

Look at the recent G-20 summit. The way that Gordon Brown and others treated him, is indicative not only of the significance of India, but also his personal standing. I’m not sure if someone else could have made the same Impact. Imagine someone like Lalu prasad Yadav or Mayawati, or even Rahul Gandhi. I shudder to think what would have happened.

He gave an interview to the Financial Times, which is definitely worth your time.
http://www.ft.com/cms/s/0/7f6fea0e-1bcc-11de-978e-00144feabdc0.html

Look at the some of the questions that he was asked, and his answers.

FT: What is the future of capitalism, especially in India?

MS: Capitalism with a human face. We are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role. The private sector in our country has very ample scope and I am confident that India’s entrepreneurs have the capacity, and the will to rise to the occasion.

FT: In your opinion is India a “great power” that can stand up to scrutiny of its internal affairs by the international community? Is India willing to make sacrifices for the good of the world beyond its borders?

MS: I think we have made strides in the past decade or two and the world is taking notice of what India is doing. I cannot claim that we have solutions to all our problems. But we have shown that it is possible for a pluralistic and diverse society to grow and flourish in an open democratic framework. The Indian experience is important for the world. I have great faith in the creativity and imagination of our people to address the challenges that confront us and this can be seen in our growing soft power that is making an impact on the world.

India is deeply conscious of its role in the international arena and we have been seeking a restructuring and reform of the global polity that will allow us to play a commensurate role. I can say with pride that Indians have made sacrifices beyond their borders for the good of the world…

Another interesting question was the last one:

FT: India has been criticised for not doing enough on climate change. Is there really a serious lack of commitment to curb emissions?

MS: India currently has one of the lowest per capita emissions among large major economies including major emerging economies at 1.8 tonnes of CO2 per annum. The US figure is over 20 tonnes. Even in total volume terms, India’s emissions constitute only 4 percent of the global figure whereas the US and China are responsible for over 20 percent each. This is the result of India consciously pursuing a path of sustainable development and reducing the energy intensity and therefore the carbon intensity of its growth. Over the past decade our economy has grown by 9 percent per annum while energy use has increased by 4 percent per annum.

But most of all, I loved that he could answer the first question the way that he did:

FT: Do you agree with China on the failures of the global monetary regime and the case for a new reserve asset in place of the dollar?

Manmohan Singh: Well these are not new issues. I was associated with the first committee of 20 with Paul Volcker in the 1970s. ... There are virtuous technical solutions but I don’t see these are the issues that can be resolved through technical analysis.