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> Yet you wont find any of those subunits complaining about their central bank setting monetary policy. This is ludicrously wrong of India, and I understand en

> Yet you wont find any of those subunits complaining about their central bank setting monetary policy. This is ludicrously wrong of India, and I understand enough of human nature and economics that I’d be surprised if it were true of China, though it may be more suppressed. Monetary policy is government policy. The ruling party is seldom uniformly popular across their entire domain. Perhaps you’re more familiar with US politics: broadly, rural is Republican, urban is Democrat. In India, the ruling party BJP has a lot of the north, but not so much of the south or east. Accordingly, you should expect dissent from regions with a different state government. And as for socioeconomic disparity between states, rich may complain if they seem to be subsidising poor, poor may complain if they don’t seem to be getting enough attention.

joules77 1y ago
But is anyone asking for their own local currency or central bank? If not why not?
- chrismorgan 1y ago
  In some places I gather that pretty much happened during https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetis.... (I happened to be in India at the time, but where I was it was more just extreme discontent with resignation, rather than threatening fracture.)
  - ekunazanu 1y ago
    The discontentment arose because it was extremely poorly planned, and failed to address the very problems it was 'trying' to solve. It is very unlikely for a state government to implement a local currency and introduce more friction to an already painfully bureaucratic system; it is a politically disastrous move. > Monetary policy is government policy. The ruling party is seldom uniformly popular across their entire domain. If by monetary policy you are referring to fiscal policy, you're pretty much spot on. There's always in-fighting between states and lots of complaining about the central/federal government favoring certain states over others.
    - deleted 1y ago
      [deleted]
- bluecalm 1y ago
  In many places people wouldn't ask because it's completely unrealistic to get it. Regions struggle to get a bit more independence from the central government. An own currency is completely unrealistic. Your argument doesn't work.

joules77 1y ago

But is anyone asking for their own local currency or central bank? If not why not?

chrismorgan 1y ago
In some places I gather that pretty much happened during https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetis.... (I happened to be in India at the time, but where I was it was more just extreme discontent with resignation, rather than threatening fracture.)
- ekunazanu 1y ago
  The discontentment arose because it was extremely poorly planned, and failed to address the very problems it was 'trying' to solve. It is very unlikely for a state government to implement a local currency and introduce more friction to an already painfully bureaucratic system; it is a politically disastrous move. > Monetary policy is government policy. The ruling party is seldom uniformly popular across their entire domain. If by monetary policy you are referring to fiscal policy, you're pretty much spot on. There's always in-fighting between states and lots of complaining about the central/federal government favoring certain states over others.
  - deleted 1y ago
    [deleted]
bluecalm 1y ago
In many places people wouldn't ask because it's completely unrealistic to get it. Regions struggle to get a bit more independence from the central government. An own currency is completely unrealistic. Your argument doesn't work.