Do we ignore all that, and fall back on the old understanding of what a central bank should or should not do to change the RBI’s remit and scope of influence? That could turn out to be sub-optimal, even risky. 52.
Once again even a large country like China decided to concentrate economic activity in specified coastal regions. What were the common characteristics of all these regions? First, there was heavy investment in transportation links with rest of the world, such as, airports, ports and communication infrastructure. Second, export oriented outward oriented labor using manufacturing gained prominence while consistently ascending the technology ladder over time.