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If we think of the situation of developing countries during the global financial meltdown, we find that some developing countries like India & China were not very badly affected by the storm of global financial crisis. Hige degree of regunalions & norms, tighten monetery policy laid by the governments put the picture of these countries in altogether different flying colors on the global map. Reserve Bank of India is actually considered to be the best central bank of the world.
There is a very strong system and norms led by the governments of india and it is coming as an emerging market and the whole world is eyeing on this country and on China as well.There is a lot to learn from these countries which even after being developing nations were standing like strong rock. The US economy is not fundamentally healthy even it is a command driven economy. The case is altogether differnet with country like India which is the only domestic demand driven economy in Asia at a time when the whole world is worried about western growth.
If we focus on some recent meetings like G-20 when many countries were eclipsed, Brazil & Russia were also considered among the least affected nations.
These countries basically send a message all across the globe that the governments policies should always be fundamentaly strong so that these type of erratic events can never be repeated in future leading in the imbalance of the whole world.

Vishal Kumar(PGDM) Indira School of Business Studies,Pune(India)