- November 30, 2022
- Posted by: Stratford Team
- Category: Economy
In a highly integrated global economy, the aggressive step of one nation ought to have consequences on many other countries, especially in developing nations such as India and crisis-hit regions like Pakistan and Sri Lanka.
The global economy, which was already plunged into darkness due to the Covid-19 pandemic, faced another blow when Russian President Vladimir Putin invaded Ukraine early this year. Now, as per the early estimates, the world is heading towards a possible recession amid the economic slowdown.
As rich nations like America and Britain are struggling to tame inflation, the Federal Reserve of the United States (US) and the Bank of England earlier in November hiked their key short-term interest rates by 75 basis points (0.75 per cent).
Currently, many western nations are putting their best foot forward to fix their economies. However, the sharp majors in rich countries are already having a negative impact on the Indian economy….
