Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
Introduction The very essence of any business is to cater needs of customer by providing services and goods, and in process create value for customers and solve their problems. Production and operations management talks about applying business organization and management concepts in creation of goods and services. Production Production is a scientific process which involves […]
The Never Ending Problems of Jet Airways Not a day goes by without some news or the other about the beleaguered airline, Jet Airways and its never ending saga of seeking bailouts and restructuring its massive debt. What was once a pioneer and a premium airline in the Indian Skies is now facing humiliation on […]
The world is facing a scarcity of water. Each year about 3.4 million people die due to the scarcity of water! Several million more fall sick due to the poor sanitary conditions of the water supplied. The current situation is proof of the fact that the global water supply is not being managed properly. Many […]
Introduction This article deals with the Automation project for a maintenance project in a software company. The project involves automating the processes that are discrete and disparate into a centralized monitoring mechanism via a tool developed for this purpose. This article lists the scope and the different aspects like resource and schedule planning along with […]
Well Defined Scope of the Project: A well-defined scope of the project is perhaps the most important deliverable of the Define phase. Scope document goes a long way in finding the solution. A lot of organizations resources have been wasted and no substantial results have been obtained because of the failure to correctly scope a […]
According to many respected commentators like Nouriel Roubini and Joseph Stiglitz, the Global Economy is facing severe headwinds which can culminate in a “Global Perfect Storm” in beginning 2013. The term perfect storm refers to the coming together of extreme weather conditions that culminate to produce a storm of such a magnitude as never seen before.
When applied to the global economy, the term denotes the simultaneous impact of the United States facing a “fiscal cliff”, the Eurozone breaking up and China deleveraging which spells trouble for the economies of the world. Though this has been predicted before, what makes the situation different this time is that the conditions for these events have been set in motion and are accelerating towards a finale.
The combination of falling tax revenues, increased debt and cuts to wages and benefits including layoffs of workers in the government sector means that conditions are ripe for a prolonged recession. And when these portend gloomy days for the US, the world economy is bound to be effected since the global economy is heavily dependent on the US for support and sustenance.
The point here is that till now Germany and France have been resisting the breakup of the Eurozone which many say is inevitable. Hence, it remains to be seen how long this situation can persist given the rather humungous debt that the countries of the Eurozone hold.
Further, the US economy is no longer importing that much from the Chinese and hence, the time for China to consume more domestically and export less is coming into play. This means that stimulus packages aimed at the export sector must now be oriented towards domestic consumption and the excess inventory of goods that have piled up have to be sold off.
In conclusion, these trends are slowly rubbing against each other and the global economy is moving towards a situation where they all impact at the same time leading to conditions that have been described as a perfect storm. Hence, policymakers in all countries including India have to assess the impact of the coming storm and plan accordingly. After all, being forewarned is being forearmed.
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