From the 1929-32 crash, Professor Milton Friedmann did an anatomy of that period and concluded that the remedy to that period was economic expansion. As America has applied that lesson, so their economy is starting to improve.
From the 2008 financial collapse, highlighted by the Lehmann Brothers collapse, when the financial world within 2 weeks was said to have "spun on its axis" (Gordon Brown), the lesson learnt was that the interest rates could have been cut quicker, as the world was carrying a load of high interest rates in an environment where the economies were cooling. The Economic Cycles Research Institute concluded as much.
Now the news that India has slowed down somewhat, from a 6.1 percent Industrial Production a month previously to 4.1 percent recently, I hope no one will take it otherwise if I suggest that the remedy for India fortunately is from the above lessons,
and hopefully will be applied on Tuesday the 17th.
The price of Oil globally has to be lower also, to avoid a scenario similar to the aftermath of the price touching $147 per barrel. Brent Ice has to head down from $122 or so, and WTI has to head down from $102 or so, there is no other way. As it is, the prices have been down for four of the last five weeks. The functioning of the globalised world is such that all economies mish-mash in such a way, with communication of all sorts of information.