The coming global crisis - is India ready?

Recent developments in the US, the euro zone and even China hold out the depressing prospect that the global economy may be heading towards another financial and economic crisis, perhaps even more serious than that of 2008. In the United States, massive stimulus packages totalling over $1.5 trillion in the past three years, coupled with a negative real rate of interest, have failed to kick-start growth in the economy and unemployment remains at a disappointing nine per cent level.

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