Most aspiring world powers are reaching into the policy drawer for a checklist to navigate the global politics of a downturn. None more so than India.
The global financial crisis has hit the country at an inconvenient time, as it reaches out politically and economically to the western world. The sliding markets and liquidity squeeze have shown India and China far from “decoupled” from US and European economies. “The Indian century”, as some like to imagine it, has hit an early global obstacle.
