Minister blames globalisation for recession

State Finance Minister Asim Dasgupta said the root cause of the present economic crisis lies in globalisation, which is a one-sided process. He was speaking at the 90th annual general meeting of the Calcutta Paper Traders8217; Association. 8220;Organisations like the IMF, WTO and the World Bank are run by the citizens of developed nations and take all the decisions,8221; said Dasgupta.

8220;India has a huge pool of natural resources and technical manpower. If we depend on external markets we will continue to be affected by outside forces,8221; said the minister.