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...country’s rapid economic growth in the past decade has been fueled by a transition to the open market, and for the country to continue at this pace, it needs more open market reforms. The economy is still hampered by strict government regulation and distorted by enormous government spending, and though regulation and spending are understandable reactions to the global economic crisis of the last year, Indians were rightly expecting the continuation of the reform agenda in this year’s budget...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

...Party’s budget announcement has come to be one of the defining moments of the fiscal year (which ends in March). In a still heavily regulated economy, government action on major economic issues can have a profound impact on the nation, attracting foreign investment and fueling rapid growth. Thus, every newspaper and television station provided special coverage on the budget for the month preceding the announcement. Publications issued countless surveys, and every business leader offered their recommendations and predictions...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

...government's explanation of last week's violence is that it was inspired by overseas agitators; Uighur discontent over issues like job discrimination isn't included in the official version of events. The dilemma for Chinese policymakers is that the country's rapid economic growth has helped legitimize the government to the majority of citizens. But for Uighurs who feel left out, the growing prosperity of the Han leaves them more alienated. As China continues to get rich, it is pushing them further toward the fringe...

Author: /time Magazine | Title: Why the Uighurs Feel Left Out of China's Boom | 7/14/2009 | See Source »

...beginning to appear in the media. Nandan Nilekani, who is about to leave the chairmanship of Indian tech company Infosys for a government post, speaks of "tactical coupling" and "strategic decoupling." That is, nobody could escape the short-term effects of a global crisis, but the basic BIC growth story still holds. (See pictures of China doing business in Africa...

Author: /time Magazine | Title: Let Someone Else Buy | 7/13/2009 | See Source »

...Having clamped down on civil and political rights, the Iranian government will more than ever have to produce jobs for this new generation - much in the way the Chinese Communist Party maintained power after the Tiananmen Square crackdown in 1992 by providing a steady stream of economic growth. (See pictures of Tiananmen...

Author: /time Magazine | Title: Could the Crackdown Give the U.S. New Leverage in Iran? | 7/13/2009 | See Source »

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