Stealthy entering into the busy body of global economy about four months ago, the Covid-19 wrought havoc in it proving invisible virus can inflict most visible damages of gigantic proportion almost completely locking down trade and commerce.
The pandemic’s toxic kiss was felt in and every aspect of human life. As far as economy is concerned, it made everything go haywire reminding us the Sub-Prime Crisis hitting in 2008-09 and the traumatic Great Depression of 1929.
This is for the first time in the history of mankind that the globe saw complete lockdown of all trade routes across the world: road, air and water. The result was almost total collapse of exports and imports.
Washout of monetary savings and massive unemployment that followed the attack of Corona Virus came as bonus, of course. If we look at Sub-Prime Crisis and Great Depression, we would further get depressed as their effects continued for well over four to five years.
Vacant look in the eyes of the iconic Great Depression-era photograph styled justifiably as Migrant Mother taken by Dorothea Lange may shudder us but millions of Mothers across the world including India have already started offering similar looks.
Causes of Sub-Prime Crisis and Great Depression were not for viruses but they proved the fragility of global economy. What is our main cause of alarm is that during these two economic disasters, the uncertainties reflected in each and every sphere of business activities.
Denne historien er fra May 2020-utgaven av Eastern Panorama.
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Denne historien er fra May 2020-utgaven av Eastern Panorama.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Overseas Racket In Wild Life Trafficking
Barak Valley for its strategic location bordering Manipur, Mizoram, Tripura, Meghalaya and the district of Dima Hasao has been infamous for it being a corridor of extremists, smugglers, illegal transportation of Burmese betel nuts, black diamond and now trafficking in wild life with overseas connections.
Kamala To Contest U.S. Poll
First black & Indian American Woman to contest on Democratic Ticket
Tribute To the Dada of Indian Politics
Former President Pranab Mukherjee, aged 84, passed away on 31 August evening after prolonged illness. He was admitted to the Army’s Research and Referral Hospital in Delhi Cantonment on August 10 and was operated the same day for removal of a clot in his brain. He later had gone into septic shock due to his lung infection.
Salute to the Silent Warriors!
The Army Dog Unit, fondly called “The Silent Warriors”, has time and again proven to be an asset for the security forces.
THE WATER BOMB TICKING
Tick-Tocking Anti-India Games, China Now Aims to Deluge the Northeast Amlan Home Chowdhury
Submergence Tolerant: Assam
It took 10 years time for Assam government to make the state’s rice farmers shift to new generation crop – Submergence tolerant…. and finally the concept is now popular at least among 60 percent of farmers of the flood-hit districts.
RECALLING - THE MAN OF GREAT VIRTUES P.A.SANGMA
As September approaches there begins a change in Delhi, morning becomes cooler, midday sun a bit friendly, humidity too pretends to be packing off and a sense of an all-pervasive thermal comfortability becomes visible outdoors. I still remember P A Sangma was born on 1st September 1947and the remembrance takes me to look back and a montages of memories come crowding in: some events are still clear while some got blurred, perhaps the inner flash is partly diffused.
NAGAON PAPER MILL
The Lost Glory of Assam
AYURVEDA
An Age-old Indian Intellectual Property in Management of COVID-19
Ayodhya
Splendid Spiritual Destination Development Takes Off
