IMF predicted the world economy will strengthen in 2020 but at a slower pace than anticipated amid threats related to trade & tensions in the Middle East.
The US Fed last month cut interest rates for a third time this year, citing a combination of trade-policy uncertainty, slowing global growth & below-target inflation.
The IMF estimates that the US-China trade war has shaved 0.8 percentage points off global growth, while the response from central banks has only added back half a percentage point.
IMF chief economist Gita Gopinath warned that the global economy is in a 'synchronised slowdown' and called for policymakers to cooperatively deescalate trade and geopolitical tensions.
Research paper, however, finds lowest indebtedness level among Muslims at 12.3% & highest among Hindus at 14.9%. Overall national financial inclusion level at 87.2%, indebtedness at 14.7%.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
On 21 Oct, a buzz went up that the govt had released full list of gallantry award recipients along with Op Sindoor citations. I put an AI caddy on the job. It took me into a never-ending rabbit hole.
It is funny how willing India was to go with predictions of it’s greatness and of it’s status as a superpower of the future when the BRICS were all the rage, but how Indian economists and political pundits grasp at straws now that the country is accused of having a deleterious effect through mismanagement upon the global economy because of how important India is to the world! If you’re happy to accept the bouquets when things are going right, it makes it equally appropriate to accept the brickbats when you slip up. The hard fact is that India is an important member of the global economy, and what happens there WILL affect the rest of the world. There’s no room of “the dog ate my homework” type of excuses that some are quick to resort to now that the Indian economy has hit bumps and potholes of it’s own making.
For the last thirty years, China has made a solid contribution to raising global growth, sucking in vast quantities of raw materials, energy, agricultural commodities, exporting manufactured goods, now also capital and execution capacities for infrastructure projects. There is the famous statistic – cannot vouch for its veracity – of how it has poured more concrete in the last couple of decades than America has since the Declaration of Independence. India was never in the same league. However, the reasonable expectation was that it could essay a comparable odyssey of three decades of somewhat lower but still impressive growth. Welcome at a time when the First World is struggling to get past 2%. So if India starts crawling at 4.8% ( 2.3% according to some mischievous economists ) that becomes a disappointment for the IMF and the rest of the world. If we like showers of rose petals, especially from foreigners, we should earn them.
The IT cell / troll army should be instructed to Cease and desist.
Gita Gopinath is India-born; not an Indian-born
It is funny how willing India was to go with predictions of it’s greatness and of it’s status as a superpower of the future when the BRICS were all the rage, but how Indian economists and political pundits grasp at straws now that the country is accused of having a deleterious effect through mismanagement upon the global economy because of how important India is to the world! If you’re happy to accept the bouquets when things are going right, it makes it equally appropriate to accept the brickbats when you slip up. The hard fact is that India is an important member of the global economy, and what happens there WILL affect the rest of the world. There’s no room of “the dog ate my homework” type of excuses that some are quick to resort to now that the Indian economy has hit bumps and potholes of it’s own making.
Hitting the nail right in the middle of the head
For the last thirty years, China has made a solid contribution to raising global growth, sucking in vast quantities of raw materials, energy, agricultural commodities, exporting manufactured goods, now also capital and execution capacities for infrastructure projects. There is the famous statistic – cannot vouch for its veracity – of how it has poured more concrete in the last couple of decades than America has since the Declaration of Independence. India was never in the same league. However, the reasonable expectation was that it could essay a comparable odyssey of three decades of somewhat lower but still impressive growth. Welcome at a time when the First World is struggling to get past 2%. So if India starts crawling at 4.8% ( 2.3% according to some mischievous economists ) that becomes a disappointment for the IMF and the rest of the world. If we like showers of rose petals, especially from foreigners, we should earn them.