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Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important. ↗
The chemotherapy was very peculiar, something that makes you feel much worse than the cancer itself, a very nasty thing. I used to go to treatment on my own, and nearly everybody else was with somebody. I wouldn't have liked that. Why would you want to make anybody sit in those places? ↗
And our big theme has been, you have made so much progress, we urge you on with the openings and market openings that have occurred. They clearly work and continuing on that path will produce further growth and further opportunities for the Indian people. ↗
But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation. ↗
