What is your assessment of the world economy at present?
We had a situation that existed before the coronavirus and the current situation where there is coronavirus. The world was expecting something like 3.5 per cent growth, a little slower than in past years. The economic cycle around the world was getting a little old, but there wasn’t much concern about a recession except for, maybe, in one or two regions, typically Europe. That has now changed, not particularly because of the virus itself and its medical consequences but because of people’s response to that. It’s not so much in India, as of today, but in China, where there’s been almost a complete mobilisation of society, probably after decades. The first quarter has gone down for China’s economy. It is the second-biggest economy in the world and a major part of the supply chain for many companies, from many countries. If they can’t continue to supply those countries with goods, then some will start running out of goods. A lot of companies also sell a lot of things in China. For the last month or more, stores and clients in China have been closed in many areas, so earnings of certain types of companies are going down quite rapidly.
There’s a general fear of travelling as well as assembling. So aeroplanes and airports are empty. People are staying home so aren’t generally shopping vigorously, though they are buying some things online. Sports events are getting cancelled. So, there’s a ripple effect taking place across the world, and people’s reaction to the virus will have much more impact than this particular disease.
What about the economic impact of this ripple effect?
هذه القصة مأخوذة من طبعة May 03, 2020 من Business Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 03, 2020 من Business Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
The Dark Side Of Gold Loans
There Has Been A Sharp Rise In Gold Loans In Recent Years. But There Is A Seedier Side To This, As Is Evident From The Red Flag The RBI Raised Recently. Will The Regulator's Move Protect Customers?
All That Glitters
The price of gold has been rising unabated. It has soared to more than 73,000 per 10 gm in 2024 from *31,000 in early 2018. Is the rally sustainable or is this a bubble?
"Hire for attitude, not ability"
Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions
Road Warrior
For Khalid Wani, Senior Director of Sales at Western Digital India, life is much more than just the corner office. Biking across the world is one way he derives meaning for his life
WIDENING THE POOL
THERE HAS BEEN A JUMP IN INDIVIDUALS INVESTING DIRECTLY IN THE STOCK MARKETS, BUT MUMBAI AND AHMEDABAD STILL ACCOUNT FOR THE LION'S SHARE. THERE DEFINITELY IS SCOPE FOR IMPROVEMENT IN TERMS OF PENETRATION LEVELS ACROSS THE COUNTRY
CRISIS IN THE CLOUDS
INDIAN AVIATION IS IN CRISIS. AIRLINES ARE GRAPPLING WITH FLIGHT CANCELLATIONS, CREW SHORTAGES, AND COMPLAINTS ABOUT POOR SERVICE, ARE BLEEDING DUE TO RISING COSTS WILL THE FASTEST-GROWING AVIATION MARKET RECOVER?
"India should start privatising public sector banks"
Arvind Panagariya, Chairman of the 16th Finance Commission, on growth, inequality, jobs, the banking sector, and more
"I LET MY WORK DO THE TALKING"
Megha Engineering & Infrastructures MD P.V. Krishna Reddy on being low profile, the infra opportunity and much more
"Core of insurance lies in long-term security"
Vibha Padalkar, MD & CEO of HDFC Life, on the insurance provider's performance, surrender charges, and future innovations
Distress in the Books
Bandhan Bank, the brainchild of Chandra Shekhar Ghosh, has made the journey from an MFI to a bank, but with many hurdles. Now with his resignation as MD & CEO, is the lender staring at more uncertainty?