Marco Rubio’s India visit left a lingering sense of disappointment over the Quad. The grouping is no longer the centrepiece of the US administration’s Indo-Pacific strategy.
Having failed to emulate East Asia’s success with manufacturing exports, India pays for its chronic trade shortfall by writing IOUs to global investors.
An oil shock, monsoon fears, rampant unemployment, and the seeming inevitability of inflation are common to both eras. Indira Gandhi’s self-destructive responses are instructive today.
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