Thursday, October 30, 2008

India facing potential layoffs related to U.S. economic downturn

According to the Wall Street Journal via Rawstory. Well, this is what happens if you peg your development on a neo-colonial relationship with a superpower; once they start doing badly you start doing badly. Import-Substitution, on the other hand, where countries develop products for both their internal markets and for export where the money and the control stays within the country itself are immune to downturns like this.

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