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Essay Details:
Essay text:
“Our financial markets have come under pressure mainly because of what we have begun to call ‘the substitution effect’.
The industrial slowdown is now accepted as fact by most policymakers and observers of the Indian economy. Yet officials and commentators seem to blame it on external factors: most obviously, the global financial crisis originating in the US economy, the consequent economic slowdown and now recession in the US, the European Union and other developed country markets, and the associated impact upon exports.
Causes for concern
There is evidence of economic activity slowing down...
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Common topics in this essay:
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