>>If you are betting on an Indian styled recovery, then your odds are exceedingly low. And very painful. Nobody talks of the pain in the immediate after math

>>If you are betting on an Indian styled recovery, then your odds are exceedingly low. And very painful. Nobody talks of the pain in the immediate after math of the 1992 reforms. A huge section of people >40 years of age were crushed under computer based automation in factories and industries that followed. Several companies were shut down. Scores and scores of people lost jobs, and dumped into a labor market that had way high demands of productivity and skill they had to offer. This was with a huge number of both public sector and private sector companies. Heck even Bank employees suffered. All of a sudden a whole spectrum of jobs were just not needed(Accountants, Typists, Postmen etc etc) Several families suffered quite bad. I was lucky that my dad was a driver, and those skills were reusable outside. But there were plenty of 'Supervisors' and other 'Desk job' people, who just got ruthlessly eliminated out of the economic scene. Basically its not easy, for the existing population masses to face huge economic changes rapidly unfolding in months/decades.