Due to sharp decline in consumer confidence and dramatic fall in economic activity the global financial system is at halt,and India isn't immune to that.But there is some thing to cheer about for India,International Monetary Funds(IMF) classified India to have medium level vulnerability,where as for developed countries the economies suffered a first full year contraction since World War 2.World output in 2009 is for casted to grow by 2.2% and developing economies for cast 5.1%.
Major recession times which the World faced from 1900 to 2008 are World War 1,Great Depression 1930,World War 2,Korean War,Credit Squeeze,Vietnam War,OPEC crises stagflation,1978 Crash,Bond Crash,Sept 11 Recession,Sub prime Crisis.
Thursday, March 5, 2009
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