It is the energy in flow from Sun that sustains all life on Earth, Surrounded by turbulence storms exchanging matters, thermodynamically speaking called an open system. Only open systems supports self organization that is what life is all about.

The economy of a country also grows by trade in and out to other countries. Of course an over open system risks being unstable due to external factors. For growth trade is a must but more globally connected market your country has more open and more difficult to control using various internal economic policies.

Falling rupee and rising fuel prices are sure science of an economy in distress. But what is the best way to get out of it is not clear.

An article by Jahangir Aziz “Rupee in a global world“.

The writer is chief emerging markets economist, J P Morgan.