A US market expert and investment adviser has come under fire for his lack of understanding of the India-China dynamic, which many on social media think is a fine example of an average American’s ignorance of India and Indians. Adviser Jim Cramer, trying to chime in with US personalities and politicians on a diatribe against India, inaccurately said that Chinese investments in India will lead to New Delhi becoming a “PRC colony”.
“How long will it take India to realize the real cost of Chinese money? Any longer than the other nation’s that got suckered into projects that only involve Chinese workers and end with your being a PRC colony (sic)…” said Cramer, exposing his little knowledge of restrictions against Chinese investments in India.
Investments by China are subjected to a long process of approvals and security clearances from the government. Compared to China, other countries have it easier in India. In fact, major deals such as BYD’s plan to invest $1 billion in an electric car joint venture in 2023, was shelved due to the rules.
Cramer was called out by netizens for his lack of knowledge on the India-China dynamic, and yet seeking to comment on the same.
Asia expert Evan A Feigenbaum said that the scale of American ignorance can be pretty staggering sometimes. “Facts and knowledge are helpful but I also can’t figure out what’s with the serial dumping of nasty-grams on India even from people outside the administration who should know better,” he said.
While some called it the “silliest take ever seen”, some said those looking for oil in Pakistan should not talk about getting suckered.