Friday, July 3, 1998
Is Japan's mystique wearing thin?
Japan has been on the growth trajectory for greater part of the post-war era. The US doled out largesse to reconstruct Japanese war torn economy through Marshall plan to stave off the influence of communism. The return, Japan provided strategic location to base American aircraft carriers.
Surviving the impact of sanctions
It is in India's karma to live through crisis. Just when one thought, that having survived the forex crisis of 1991, the Indian economy was coming back on it's rails, we are hopelessly caught in a quagmire of a recessionary economy. The latest missile to hit us is the US sanctions.
End of the road
The stage is being prepared for the demise of the development financial institutions. The era of giant state-run financial institutions that granted long-term loans at subsidised rates of interest in order to build up the country's industrial base appears to be over.
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