Can a national crisis cause a shift int eh balance of powers between two major parties? Give an example with you answer.
2007-06-12 07:43:05 · 2 answers · asked by Anonymous in Arts & Humanities ➔ History
It certainly can and India is a prime example.
In 1991, India faced a major national crisis. The country was on the verge of bankruptcy, with only two weeks' worth of foreign exchange reserves and a current account deficit of 3% of GDP.
The crisis was resolved with financial assistance from the IMF, which lent approximately $2.3bn between 1991 and 1993. The conditions of the loans included fiscal correction and trade liberalization.
India took that ball and ran with it to become one of the two leading destinations for outsourced manufacturing and services. Where services are concerned, China is not even close.
Ironically, I think it is the Chinese who have a saying that a crisis is nothing but an opportunity in disguise.
Today large numbers of citizens in the USA are protesting the outsourcing of their jobs to India.
If that's not evidence of a shift in balance of power I don't know what is. And it all happened because of a national crisis.
2007-06-12 08:13:54 · answer #1 · answered by rhapword 6 · 0⤊ 0⤋
Sure, look at the Democratic Party in the US getting majority because the bulk of Americans beleive that the war in Iraq is a bad idea.
2007-06-12 17:26:19 · answer #2 · answered by redunicorn 7 · 0⤊ 0⤋