The American Spectator

At Large

Sliding Into Recession

By Swaminathan S. Anklesaria Aiyar on 4.30.08 @ 12:07AM

(Page 2 of 2)

Even if the worst were to happen, it wouldn't mean that all recent progress was illusory. India has raised its savings rate to 34%, and built up strong skills that are here to stay. But our sustainable long-term growth rate, in less-than-booming global conditions, may be only 7-8%

The last four years have been great, but let's not get too carried away.

Swaminathan S. Anklesaria Aiyar is a research fellow at the Cato Institute and a columnist for the Times of India.

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