Globalisation

IMF dictated India's economy and FM- MMS was just a puppet in the hands of IMF. Interestingly, a lot many conditionalities related to IMF loan was not disclosed to the public.

China is a brilliant case study to illustrate how globalization can change the fortune of a nation and how overwhelming economic dependence on a nation can increase the vulnerability of the rest. Today, any disruption in China can disrupt the global economy.