Thursday, April 2, 2009

Economics: The G-20 Summit and A “Cho-Chweet” Moment

The CNBC television channel today indignantly reported the extremely high compensation figures for Chief Executive Officers of several U.S. companies, at a time when their organizations are getting hammered by the stock markets and their revenues and profits are falling. This newscast was featured against the backdrop of violent protests outside the venue for the G-20 summit in London, where leaders of twenty of the world’s most powerful nations are meeting to try and figure out how to nurse the world’s economy back to health. People are beginning to get really angry. Of course, there was the usual assortment of Luddites and anarchists among the protestors. But for the first time, there also were sober older people who have lost their jobs and savings in the current recession.

It was obvious that Barack Obama’s charm and charisma stood out at the G-20 summit. Obama and his wife are still getting rock-star treatment in the U.S and around the world. The charisma, promises and potential that the Obama administration represent are all very good; but very soon, people all over the world are going to start wanting results. It is a little bit like the Beatles re-uniting (if they were all still alive). Everybody would be excited, but at some point people would start expecting a hit new song or album.

The breathlessness and excitement that the Obama family causes was evident during a press conference at the end of the G-20 summit. The U.S. President held a press conference. As usual, he was a mesmerizing speaker, and had the world press eating out of his palm. The speech was long on promising rhetoric but short on real progress made by the leaders of the world’s top twenty nations (which now includes India).

The Obama-mania came to a head when a pretty young Indian journalist with the Times of India who identified herself only as Simran, asked him what the U.S. planned to do regarding terrorist activities emanating from Pakistan and directed at India. You could tell that young Simran was trembling with excitement and anticipation. Obama started answering her question by saying that he thought that Indian Prime Minister was a very decent and good man, to which Simran said “Thank you”. I am not sure if Obama’s assessment of Manmohan Singh is accurate, but that is not what this blog is about.

Simran’s response to Obama’s praise of Singh raised a few laughs among the audience of journalists. Obama then teased her by asking her whether she had anything to do with the (perceived) fact that Manmohan Singh was a nice and decent man. You could tell that young Simran was completely and totally overwhelmed by Obama’s charisma. It was one of those “cho-chweet” moments that the U.S. media telecast over and over again; one that will make a 15 minute celebrity of Simran. You can bet that talk shows back in India will start interviewing her about her momentary brush with fame. She is going to be talking about this moment to her grandkids.

It looks like Obama’s charisma is still working its magic. While that is good for him, his administration needs to head to the studio and start making that new hit song or album. The whole world waits with bated breath. Hundreds of millions of jobs and the world’s return to economic health are in the balance.

4 comments:

rummuser said...

I wish that I had been in Simran's place. For all that charisma, nothing concrete is coming out of the new presidency despite a mad man in Pakistan saying that the next target after the Lahore Police Accadmey is Washington and one can expect something spectacular there!

I have lost all faith in all politicians and bureaucrats.

Anonymous said...

Barack Obama learned his trade as a 'social worker' specializing in community development in Chicago, one of the toughest locations, and an incubator for the art and science of community development in the 60s and 70s. He is a Master.

The harsh reality may be that there is no remedy. Transitory stock market lifts are meaningless, just more of the same, with people eager to start gambling again and get back the world that is quite possibly lost forever.

Barack Obama may have to dig into the community development tool kit and find the package called grief counseling, the package called self sufficiency, the package called survival skills and the package called community gardens.

Ed said...

I interpreted the whole incident a lot differently. I thoroughly respect your point of view. However, here's mine. I am sure you will disagree; however I think you will find it as interesting as much I found yours. Now, I thought Simran responded by not saying, “Thank you"; but by "I Know!". And that’s what caused the entire room to erupt in laughter. I was watching it live, and in complete contrast to your description of it as a 'Sho Schweet moment'; I was left bemused by it. Surely TOI could have sent a more mature journalist to put up a run of the mill question, I thought.

When I read your post, I have to admit, I did see the lighter side of the whole thing, but at the moment I was watching it live, it wasn’t 'funny' funny. It was more of 'damn, this stupid girl!' funny. I wonder what you think of my point of view.

Anonymous said...

Agree with Ed: that's the way I see it too.