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I think excessive liberalization has its repercussions as well. The excessive power struggle for the political leaders fighting like rats for piece of cheese (Minorities) to the point that they are eliminating there own history from history books through "reverse discriminations" is typical case...

I think it's just not moodi, but our RBI chief at that time, Dr. Raghuram Rajan whom I still follow, he was a former chief advisor on council of IMF, a professor at some Ivy league institution at US. He has good expertise in predicting economies that may collapse or are in the verge of collapse...