When candidates flip-flop, their poll numbers suffer, but when countries flip-flop, entire economies suffer. This scenario is playing out in India after the government flip-flopped on its decision to allow retail giants such as Wal-Mart to own a majority 51% stake in joint operations with a local partner. Just last week the government gave the go-ahead for this reform. Unfortunately, the victory was short-lived as leftist politicians and even right-winged opposition parties seeking to disrupt regular functioning of the government forced reform-minded Prime Minister Manmohan Singh and the ruling UPA coalition to roll back their decision on Wednesday.
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