Scenarios about 'balance of payments crisis'
A severe economic condition where a nation struggles to finance its international payment obligations due to insufficient foreign exchange reserves. Balance of payments crises typically trigger currency devaluations, austerity measures, and often necessitate intervention from international financial institutions like the IMF. In alternate history scenarios, these crises can serve as critical junctures where different policy responses might dramatically alter a country's economic trajectory and geopolitical alignment.
What If India's Economic Liberalization Never Happened?
Exploring the alternate timeline where India did not implement its landmark 1991 economic reforms, potentially remaining an isolated, state-controlled economy well into the 21st century.