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Our concerns about what we saw in Australia: an economy clearly tied to China has hitched its wagon to the tail of the tiger. In terms of the general complacency, what we heard over and over from investors and clients and potential clients is, 'yes, yes, there are some excesses, but the government will figure out a way.' ↗
So much of what happened to India late last year and early into 2011 is the same story we've seen with other big emerging markets, and that is that investors started to realize that the growth trajectory in India would have to get moderated by tightening policy. ↗
The financial capital is being concentrated by corporations, institutional investors, and even our pension funds, and being reinvested in companies that repeat this process because it provides the highest return on that financial capital. ↗
