Globalisation

The core of globalisation lies in freeing a country's economic frontiers, to allow unrestricted international trade in goods and services, entry and exit of foreign capital and technology and giving the foreign investors a treatment similar to that provided to domestic investors. In its essence, the term globalisation refers to the integration of economies of the world through uninhibited trade and financial flows, as also through mutual exchange of technology and knowledge. Ideally, it contains …

…implemented in China. In India, the small scale industries had not developed to a larger scale and it was in its infancy. The government should have allowed it to grow a bit and then went on with reforms of this kind. China has not yet opened its markets fully. At the same time, they have captured the markets worldwide with mass production combined with cheap labour. The Indians should have followed the Chinese angle JAG