Impact of recent changes in India, Japan, and other Asian countries on your own life
India, Japan, China and other Asian countries have emerged to be economic power houses over the past few decades. Economists attribute this paradigm shift to accelerated integration to the international economy that happened in 1979- 2002. Foreign direct investment (FDI) increased during this period to over US$50 billion in china alone.
India’s independence led to a steady growth in economy and per capita income due to a modern economy. However, this growth was not optimal due to adoption of “License Raj”. This meant that you needed the license in order to do virtually anything. For instance you could ...