In news just coming in, Vijay Mallya's United Breweries has pulled out of its bid for the French champagne maker Taittinger following objections from the French labour unions and a bigger bid by a competitor. And, Lakshmi Mittal's bid for Arcelor continues to face trouble.
Questions: Are we really in the era of globalistion if only developing/underdeveloped countries are expected to throw open the doors of their markets? If we cringe at our labour unions setting obstacles to foreign investment, why do we meekly accept the protests of their labour unions? When their governments unbashedly function as an arm of business in pushing deals, should our government be lagging?