Monday, May 18, 2009

India election - and reward

Maybe the current US Administration can learn a thing or two from India about avoiding socialist/protectionist policies. Singh's victory gave India's equity markets a 17% pop in a day- almost 50% year to date (which by the way looks a bit frothy given global uncertainty). India under Singh as the finance minister and later the Prime Minister abandoned Soviet-style state planning and pushed for free-market reform quadripling the economy since 1991.

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