OK....bit of fact checking...the text initially looks potentially ironic. Then some fact checking:
http://www.pibfactcheck.in/facts-ch...m-bank-ltd-cycling-bad-for-economy-15825.html
Now sometimes the factchecking sites themselves need fact checking...(how weird is the world getting?)....but in this case the elusive Sanjay T seems never to have been on the board of Exim Bank (which does exist).
But....
The sentiment is right in discussing what the apparently fake quote covers. Banks have in interest in economic activity independently of the ethical and environmental issues. As the oil lobby in the ‘States has said ... ‘...wilderness? That’s for drilling....’. The way we have arranged global economic activity pushes irrelevant, unhealthy, damaging products as much as it gives us important and valuable things. It takes deliberate action to steer away from the former and towards the latter. Who really needs stripes in toothpaste? Or a Porsche Panamera? Adam Smith and Ricardo were only partially right about market dynamics. Consumers will not necessarily choose the best, the most ecological, the most socially responsible. Witness the housing market in UK - we need far more housing, and we need ecological housing of the highest standards. Yet there are 250,000 approved sites undeveloped (owners waiting to maximise profits) and the housing that goes up simply meets minimum standards in most cases (to maximise return). Financial opportunity is an unethical magnet for many.
I worry that much of the stuff I need (need?) for my bikes (notice the plural...and that’s not good for the planet) comes from Taiwan, China, Indonesia, and requires mineral extraction - sometimes in countries with dubious human rights records and certainly no minimum wage. Not as much as my car, but not strictly ecologically responsible. Iron ore, bauxite, oil, and high energy requirement for transformation. And problems with disposal - old fork and brake oil, tyres...
I am not an eco-warrior, but I do try to have my eyes open....
Sure there are many worries about the drop in economic activity associated with less car ownership and use in future, especially inner cities. Its true, retro bikes just go on and on - just built to last. Personally I like what there are doing in Scandinavia now. They are building amazing two way indoor cycle lanes. I also think cyclists and leccy scooter riders would spend more if they had the run of traffic facilities and towns and inner cities banned cars for safety reasons.
