By P. Mahtaney
The momentum of monetary development in India and China will result in the following significant shift in geopolitics. This e-book analyzes the industrial event of either nations within the context of improvement and globalization, and provides insights which may be the most important for improvement considering.
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Extra resources for India, China and Globalization: The Emerging Superpowers and the Future of Economic Development
It is precisely the glaring absence of a safety net that has been a ‘trump’ card of sorts for a certain faction of politics. Sadly, the culmination of this has been that the exit policy has been veritably held to ransom by the indiscriminate politicization of the interests of the country’s labour force. It is rather perilous to politicize socio-economic objectives but this has been a recurrent feature of politics in India, as it is in many countries. Moreover, this would not have been adverse if it enabled the attainment of developmental targets.
There have been more than a few instances in the past where this is not the case. Thus, the prioritization of economic criteria should have been the core principle that reservation policy embodied if the singular most important purpose of reservation was to reduce the socio-economic disparities that result from a pronouncedly unequal distribution of education. Instead, so far the inclusion of backward-caste individuals who belong to the higher income groups and the exclusion of those upper-caste individuals who are poor, however small a proportion this may comprise, evidences that the reduction of socio-economic disparity is not an unencumbered objective of reservation policy.
Notably, in a departure from the norm, structural adjustment wasn’t one of the conditionalities that accompanied the extension of this loan. In consonance with this fact, the IMF did not insist on a cutback in public expenditure as it usually did in the instance of other developing countries. It was not exactly a bolt from the blue when the 1983–4 budget reimposed import restrictions and India terminated its agreement with the IMF even before it could avail itself of the entire amount of the loan sanctioned.