The writer is visiting professor of international economic policy at Princeton University and author of ‘India is Broken: A People Betrayed, Independence to Today’While other Asian policymakers, such as those in South Korea and China, have strategically used sizeable depreciations of their currencies to bolster export competitiveness, Indian elites bemoan every infinitesimal decline in the rupee’s value as a national humiliation. A unique economic and political confluence first entrenched this bogus pride in the country’s psyche in the mid-1960s. And since the 1990s, the country’s corporate leaders and new rich have wanted to maintain a strong rupee. As a result, the country’s export-based growth has suffered, as have jobs for low-skilled workers.
本文作者是普林斯顿大学(Princeton University)国际manbetx20客户端下载 政策客座教授，著有《印度破碎了：一个被背叛的民族，从独立到今天》(India is Broken: A People Betrayed, Independence to Today)。