1. Demonetisation: PM Narendra Modi’s ‘masterstroke’ could end up as ‘joke’, says Chinese media

Demonetisation: PM Narendra Modi’s ‘masterstroke’ could end up as ‘joke’, says Chinese media

"While it takes political courage to launch such a trailblazing and massive campaign; it actually takes far more wisdom to give it a happy ending," an article in the state-run Global Times said.

By: | New Delhi | Updated: November 18, 2016 2:29 PM
"While it takes political courage to launch such a trailblazing and massive campaign; it actually takes far more wisdom to give it a happy ending," an article in the state-run Global Times said.(Reuters) “While it takes political courage to launch such a trailblazing and massive campaign; it actually takes far more wisdom to give it a happy ending,” an article in the state-run Global Times said.(Reuters)

Prime Minister Narendra Modi’s “masterstroke” to demonetise Rs 500 and Rs 1,000 notes could be reduced to a “nasty partisan conspiracy” or a “costly political joke” if it fails to deliver on its high-sounding promises, Chinese official media commented on Thursday.

“While it takes political courage to launch such a trailblazing and massive campaign; it actually takes far more wisdom to give it a happy ending,” an article in the state-run Global Times said.

“Given the fact that people have to pay an absurdly high price for the expected reform, if BJP fails to deliver its high-sounding rhetoric and promises, then Modi’s much-lauded ‘masterstroke’ or ‘big bang reform’ will likely be reduced to ‘nasty partisan conspiracy’ and even a ‘costly political joke’,” it said.

The article noted that demonetisation is by no means new to India. However, rooting out India’s perennial and enormous black economy has never been an easy mission, it said.

“If Modi fails to supplement the blitzkrieg reform with more enduring and fundamental measures, any beneficial effects the reform has created may evaporate quickly, even if Indian people have paid an absurdly high social and economic price so far,” the article said.

The demonetisation may also benefit BJP, it said.

“Modi’s move also carries an implicit albeit thick partisan agenda: Sudden demonetisation may hurt other political parties’ funding more than his own Bharatiya Janata Party (BJP), rendering the BJP a significant upper hand in the upcoming elections in Uttar Pradesh and Punjab,” it alleged.

“In the electorally pivotal states of UP and Punjab, BJP’s primary rivalries are often local and smaller parties which have less diversified funding and depend heavily on small cash donations,” it noted.

“So, even if BJP suffers blowback from the clampdown, it is likely to end up less affected, thanks to its national network as well as the numerous ‘family member’ organisations affiliated to it,” the article asserted.

The article stated that Modi’s “heroic image” embodied in the anti-black money campaign is also something BJP can bank on, especially as the party seemingly “lacks a strong chief ministerial face” in UP now.

“While Modi may find pacifying chaos in the short-term and correcting structural distortion in the long-term (they) are both hard policy goals, the partisan politics appears to be the only low-hanging fruit he can readily pluck,” it said.

In the last decade, undocumented sources like cash donations accounted for around 75 per cent of the funding for India’s political parties, it added.

“Given this, the sudden clampdown on black money may also be seen as Modi’s clever electioneering for the upcoming elections in Uttar Pradesh and Punjab,” it claimed.

  1. M
    Manish
    Nov 18, 2016 at 9:36 am
    Wat more can b expected from the Chinese media.
    Reply
  2. S
    Saravanan sarangspani
    Nov 22, 2016 at 2:41 pm
    Bull chit ...this comment is like made in China product...will not lost longer...
    Reply
  3. V
    Vasoo
    Nov 18, 2016 at 9:34 am
    What we can expect from China, they never like any positive reforms in India . Modi's several steps irritating China. Wiseman can understand the truth.
    Reply
  4. A
    ASHISH GUPTA
    Nov 19, 2016 at 8:14 am
    well china has always said that tough decisions cannot be taken in a democracy like India. Now when such a decision has actually been taken, China finds it hard to accept the fact. The demand for democracy in china is bound to increase
    Reply
  5. J
    Jayesh
    Nov 18, 2016 at 9:49 am
    Looks like, China is waiting for the project to fail, but this will be success by the end this month,November, 2016...
    Reply
  6. R
    Rangarajan
    Nov 18, 2016 at 10:02 am
    It thinks & be!ieves it is the super or superior power in the world. As some of the Pak MPs thought OBOR is not going to help the Pak. Pak is thinking China will do good to its country. But time will tell the truth. China's products are cheap so are their thought. One can't expect anything different from it.
    Reply
  7. A
    Agnes Hr
    Nov 18, 2016 at 10:03 am
    Indeed funny to see a country run by Autocracy where Citizens are crushed, uprooted n oppressed for the CCP's pansy fansies n believing in Democracy as an evil commenting on Democratic Processes such as Elections.Look into ur own homes you Ctrl C - Ctrl-v Copy Paste Chinese. Your home is falling apart. Everything in ur country is Fake n Knock Offs. Right from ur GDP Figures(no way its 10 trillion; its only around 6-7 trillion rightly), to ur False-GDP to Debt Ratio which is around 300% to ur false GDP. If actual GDP is taken into account, it may cross even 400%. The next global recession like everything in the world today too will be MADE IN CHINA.Check out CHINA UNCENSORED channel on Youtube if you believe what I said. You get the real image of China.So thanks fr ur concerns, high time you start looking into ur own cracks n brewing volcanoes.
    Reply
  8. S
    Sanjay
    Nov 18, 2016 at 9:05 am
    The way we are getting containment response from China. It looks like we are on right track.
    Reply
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