The world economy is far from where it was in 2019. The economic growth of most of the countries is negative though better than the last quarter. The negative impact of COVID-19 on the financial well being of the countries and masses is yet to be eradicated. The story of the year 2020, without any doubt, is the story of a disease that caused immense pain to humanity. The COVID-19 pandemic and its effect is the main story of 2020, but some other important events too made the headlines. Some important political events and horrific environmental disasters also took place in 2020. Let's take a look at some of the significant events of the year 2020, along with COVID-19.
Since ancient times farmers are respected due to their role of bread provider to the society. The presence of Farmers and ploughs in the paintings of early Egyptian civilization describes the importance of agriculture. Decrees and schemes to help farmers by the King were very common in the medieval period. In the modern era, the writing of great philosophers and Economists such as Karl Marx and Adam Smith emphasized the upliftment of Farm laborer for the progress of society. Issues related to farmers and agriculture always remain at the forefront for all the political parties across the globe. There is no doubt that small farmers in the modern era suffered greatly due to the incorrect and untimely decisions taken by the government. The new agriculture laws are positive steps, but without addressing the concern for a fair price from private players to the farmers, it is not likely to help much. The government should guarantee MSP (for at least Five years) from corporates/private persons until the farmers gain sufficient experience in negotiating with corporates/private players. A technological platform for transparent negotiation seller and buyer is a must.
The Aegean Sea lies between Greece and Turkey have a large number of Islets. Some of these areas around the islets are claimed both by Greece and Turkey. The primary reason for controlling an island by a country is to extend reach beyond its mainland and attain legitimacy to explore rich natural resources in and around the island. Although historically both the nations do not share a friendly relation vis-a-vis islets (claimed by both) in the Mediterranean sea.
Risk is real while risk management is a vague term. The uncertainty of the future events generally eats the return on investment. Understanding the risk and uncertainty is the only solution.
Two economic power houses and habitat of 40% world's population, India and China are on the brink of war due to border dispute. The war between these two countries can cause enormous pain on world economy and its growth prospects. Read the story behind the scuffle at Ladakh border.
The flaws in our social system are more visible than ever. In the last post, the prominent flaws in the current economic and other systems (Social, healthcare, and Environmental protection) appeared during the COVID-19 crisis have discussed. The critics of the system point out the widespread poverty and the gap between the rich and the poor. The other argument against the system is that it is biased the discrimination based on color, race, and religion hampers the development of human resources and its productivity.
he world has engulfed into an unprecedented economic crisis due to the COVID-19 pandemic. Initially, COVID-19 was started as a global health crisis with limited implications on the economy, but soon it became an economic crisis. The COVID-19 crisis highlighted the flaws in current prevalent systems. The Economic system, Healthcare System, Environmental protection, and Social System need immediate revamping for the continuous and healthy growth of the world.
The speculation of the Indo-China military conflict is on the rise since the standoff (May 05) between the Indian and Chinese Army at Pangong Tso Lake, Ladakh, due to the border dispute. Both countries had deployed relatively small units of Army opposite each other in the disputed region. The escalation of this situation into an Indo-China war cannot be ruled out, due to the history of India-China conflicts. The US President Donald Trump has recently tweeted that the US is ready to mediate between India-China to resolve the situation, arose due to border disputes. The border between China and India is not properly marked due to the Himalayan region. Both countries claims and counterclaims on territories occupied by each other, as their own, which causes border disputes.
The world is going through a climate emergency and facing a devastating situation due to environmental degradation. Pollution across the world is at a dangerous level, which is threatening the lives of humans and animals. Unsustainable development is negatively impacting the environment by generating excessive waste. The world needs sustainable technologies for production to continue growth and development without impacting nature. Innovators in every industry are developing technologies that could produce products less harmful to the environment.
COVID-19 crisis has brought many flaws in our system and society at the center stage. The current economic and administrative system proved incapable of handling the economic and health crisis simultaneously. It also reminded us that even after the struggle of centuries for social development, we are far from achieving the objective. The COVID-19 has... Continue Reading →