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But India today is more dependent on the grace of outside capital flows than ever.
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The only outside capital flowing into the country has come from bargain hunters making purchases at fire-sale prices: Canadian and South African interests buying up gold mines, and Brazilian conglomerates acquiring the country's largest oil company and brewery.
Free trade and free international capital flows go together.
International capital flows dried up.
Friedman opposed restrictions on international capital flows.
International capital flows are especially vulnerable; they dry up very.
Without the flow of outside capital and credibility, Dubai's fledgling tech community would be set back 30 years.
Governments cannot use the exchange rate to help the economy adjust to outside shocks, such as a fall in export prices or sharp shifts in capital flows.
For many countries, the immediate challenges come mainly from outside, in the form of lower exports to advanced countries, volatility of commodity prices, and high volatility of capital flows.
And capital flows have reversed.
Should capital flows be curbed?
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