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Mr Peña's reforms allow foreign firms into the industry.
India moves closer to allowing foreign firms into retail.
Who was there to caution against the mad stampede of telecoms firms into fibre-optic cable?
It needs to let private and foreign firms into its moribund state-run defence industry.
Jefferies resisted the forces that brought bigger firms into the government's clammy embrace during the crisis.
A former senior saleswoman at Honda, BMW and Nissan, she brought private firms into the sector.
The recession has tipped both firms into the abyss together they lost $48 billion last year.
But the stampede of Western firms into those markets will not be repeated.
As an economy develops, the state should coax firms into more sophisticated industries.
So has the push by Western firms into emerging markets (see Schumpeter).
Because of India's weak legal system, banks dislike forcing firms into bankruptcy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com