India is the most egregious example of moral hazard, it has nuclear weapons and has repeatedly gone into arrears. The western world cannot let it go belly up so it will always be bailed out.

India is the most egregious example of moral hazard, it has nuclear weapons and has repeatedly gone into arrears. Because the western world cannot let it go belly up, it will always be bailed out. Most of its infrastructure has been funded using zero-to-negative interest loans from the Japanese and the US. Its military has been funded using zero-to-negative interest loans from the Russians but the Russians don't have that much money so it is now shifting predominantly to the Americans.<br><br>Because of this, it is extremely unlikely that India will ever reform its economy because it does not need to.