DETAILS AND FALLOUTS OF THE PRESENT GLOBAL ECONOMIC CRISIS
Against the wishes the newly elected Prez.
Barack Obama, all the figures are negative.
Acc. to figures released by USA stated in
October - November, 2009, the US economy
grew by 3.5 percent per annum.
But , if we have a deeper
look into the reality of the economy of the US,
this fact is miles away from the real ground
situation. The number of unemployed people
is still increasing and this trend has the
tendency to grow unabated in the coming
years.
Acc. to an estimate, the US
won't be able to provide jobs to anyone
atleast till November, 2010, and the jobs lost
cannot be fiilled before 2014. The question of
development and generation of new jobs is
almost impossible.
In a nutshell, there will no
new jobs in the US between 2010 and 2014.
Most families of Us and UK are under debt.
There living standards will decrease and the
demands of everything will increase.
The economy of US and
other developed countries can't face the
negative fallouts for a long time. Un-
employment will be prevalent for longer.
In the coming decade (2010-
2011), the economies of developed nations
will continue to deteriorate as compared to
developing countries like India. Accordingly,
in the coming decade, UK, US, Germany,
France's economies will continue in their
downward trend and while that of developing
countries like India, China, Russia, Brazil will
become more stronger.
The scenario that will hopefully
appear will be downfall in the economies og
US, UK, Japan, Germany, etc., will deteroiate
and that of China, India , Russia, Brazil and
other Asian countries will become stronger;
which may give stimulus to a new world order
never seen before.
-dr. navraj singh sandhu (pahs-1)
Tags: ECONOMIC FALLOUT , REASONS , MANIFESTATIONS....ETC.
