Thomas Friedman quotes Shekhar Gupta in his New York Times column on a way to stimulate the US economy:
“All you need to do is grant visas to two million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will immediately improve your savings rate — no Indian bank today has more than 2 percent nonperforming loans because not paying your mortgage is considered shameful here. And we will start new companies to create our own jobs and jobs for more Americans.”
The article is generating a heated debate (287 comments thus far). Wonder how the millions of unemployed Americans will react to this idea? And will the same logic apply for India?