When borders don't matter: development and global culture - Neoliberal economics - Markets triumphant?
3 important questions on When borders don't matter: development and global culture - Neoliberal economics - Markets triumphant?
What affirmed the market-based reforms?
The victory of the market-based reforms undertaken by the Thatcher and Reagan governments was affirmed, ironically, by the resounding victory of the Democrats under Bill Clinton in 1992 and by the triumph of "New" Labour under Tony Blair in Britain's 1997 general election.
What did India change about their economic policy?
During the 1990s India's tariff and trade barriers were reduced, government subsidies for domestic manufactures were eliminated, and the noisome licensing system was scaled back.
What changed India's view on their economic policy?
The Soviets had been India's leading trade partner and ideological mentor in the economic front for close to four decades. The sudden failure of the Soviet command economy undermined faith in the long-term viability of its Indian stepchild.
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