See this piece by Joe Nocera in the NYTimes about how India avoided getting sucked into the financial crisis. Sounds great. Not sure how much I believe it.
My impression is that many of India's strengths in the current economic environment came from a failure to liberalize the economy. But perhaps there was more forethought in that then I was aware of. I just hope we don't hear that the government has avoided investing in physical infrastructure and reforming labor laws because that might have led to an unhealthy dependence on manufacturing exports.
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