Inspirational quotes with liberalization.
Even in recent times, the empirical evidence does not support the claim that trade liberalization or incentive neutrality leads to faster growth. It is true that higher manufacturing growth rates have been typically associated with higher export growth rates (mostly in countries where export and import shares to GDP grew), but there is no statistical relation between either of these growth rates or degree of trade restrictions. Rather, almost all of successful export-oriented growth has come with selective trade and industrialization policies. In this regard, stable exchange rates and national price levels seem to be considerably more important than import policy in producing successful export-oriented growth
Chinese commentaries stress the opportunity that the investments and aid they offer presents to developing countries to avoid the hazards of reliance on Western dominated financial institutions: austerity programs that call for severe cuts in state-subsidized social welfare, deregulation of state-owned facilities, trade liberalization, and an open door for multinational corporation investment.
Much else than liberalization has happened in the nineties (in India)
13 million Indians will join the workforce every year from now till 2030. They know their prospects aren’t good. Here’s why: in the years from 1972 to 1983—not celebrated as a time of overwhelming prosperity—the total number of jobs in the economy nevertheless grew 2.3 per cent a year. In the years between liberalization in 1991 and today, jobs have grown at an average of only 1.6 per cent a year. But, if these young people have to be absorbed, then jobs must grow at least 3 per cent a year—almost twice the rate at which they have since liberalization. This is simply not happening. In other words, one out of every two youngsters who starts looking for a job next year won’t find one.
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