The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
The bankruptcy filing of Lehman Brothers on September 15, 2008 brings back the most vivid memories of the crisis.
The short-term recommendations include improvements to regulatory coordination and oversight that regulators can make quickly. The blueprint recommends creating a new federal commission for mortgage origination to protect consumers better. The report also recommends modernizing the President's Working Group on Financial Markets and clarifying the Federal Reserve's liquidity provisioning.
"If the Doha Round does not materialise that would not be on account of the US agricultural subsidies ... major emerging economies (India and Brazil) are not coming up with enough market access, especially in non-agricultural areas such as services including financial services," US Treasury Secretary Henry Paulson, who will be visiting India shortly said.
Paulson has also taken a dig at China "for not being bold" despite the fact that Beijing is integrated into the global economy.
Making a case for a robust rupee, the US on Tuesday said currency value should reflect the economic fundamentals - which has been good in the case of India - although a stronger dollar was in Washington's interest.
India must continue with its economic reform agenda or risk lose the credibility it has acquired in the world over the years, a top US administration official has said.
Xi will later head for New York to attend the UN General Assembly session.
The 15-member Board of BFA included former Japanese prime minister Yasuo Fukuda, former Malaysian prime minister Abdullah Ahmad Badwai, former Singapore prime minister Goh Chok Tong and former prime minister of France Jean-Pierre Raffarin besides former US Treasury Secretary Henry Paulson.
Many factors leading to the 2008 financial crisis still exist.
PM Modi's China visit may strengthen ties between both the countries.
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