Saturday, November 29, 2008

India Juggles Terrorism With Financial Meltdown: William Pesek

Headline-grabbing bombings in India’s business capital are sadly commonplace. Yet this week’s attack was something different: It was aimed at key tourist hotels and restaurants. It greatly raised the stakes for Asia’s third-biggest economy.

While China, Japan and the rest of Asia are grappling with the fallout from a global credit meltdown, India now has a second crisis on its hands: domestic terrorism.

Having your people blown up randomly is tragic enough. Dealing with attacks aimed at thwarting the very prosperity a government is trying to create to soothe social tensions is quite another. Just as the Bali bombers in 2002 did huge damage to Indonesia’s economy -- costs that continue to be counted -- India’s militants are aiming higher, so to speak.
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