G-20 leaders gathering in Seoul this week face a full plate of issues, most prominently the effort to stave off beggar-thy-neighbors currency devaluations. This week on the Global Prosperity Wonkcast, we've distilled highlights from a private briefing I organized where five CGD experts shared their views on key issues facing the G-20, and their implications for poor people not represented at the table.
CGD Policy Blogs
This post originally appeared on PIIE.com.
President Obama is heading to India today on a state visit that is fraught with expectations and hopes on both sides. His two predecessors, each in his own way, made a lasting impression on India. President Clinton’s reaching out to the Indian people nearly ten years ago erupted in a spontaneous dance with a group of illiterate rural women in Rajasthan, and the president etched himself in the Indian psyche as the modern day Lord Krishna—the legendary lover-god of Indian mythology. President Bush endeared himself to Indians by pushing through the civil nuclear deal, whose real import was the signal that: “You, India, are one of us.” Lacking the natural press-fleshing charms of Clinton, and the goodies that Bush had to offer, President Obama will have to find his own, cerebral, route to winning the hearts and minds of Indians. Here’s a book and movie list for President Obama that might help understand four dimensions of India: society and culture, history, religion, and cricket.
Daniel Rozas warns that investors in Indian microfinance could lose a lot of money. Building on his earlier work on bankruptcies among microcreditors, he discusses how to prepare for failure: