BSE MD and CEO Ashish Chauhan says in 1991, the first and the most important activity that was done was devaluation. It ended up kicking off the liberalization framework. But today policymakers have room to take tough decisions and without crisis democracies don't take tough decisions.
In meetings with visiting IMF officials, Chinese leaders emphasized their desire to nurture "more balanced, inclusive" growth, said David Lipton, a deputy IMF managing director.