Hello Everyone
I am @shikhurana
From #Bangladesh
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Assalamu Alaikum, all members of Steemit, I hope everyone is okay. By God's grace, I am fine too. Therefore, I have appeared among you today to participate in a new trend of beauty creation competition in the Bangladesh community of Steemit. And also kudos to reverence @ripon0630 and his far-reaching thinking for making this a part of the contest. Because the main topic of this competition is "global recession".
Although there are different explanations for the global recession, there have been several global recessions since World War II. Recession is a buzzword with the current state of caution. Recent economic surveys predict the year 2023 as the year of the global recession. When global per capita output falls below 3%, it is called a global recession. Considering the current economic situation, the global recession can be felt.
🧾 Now see the answers to your questions
 Do you think we will face a global recession in the coming years? Based on what factors have you confirmed that there may be a global recession? |
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Global recession is the name of a panic. And based on this panic, the buzz has started. The GDP growth rate of developing or underdeveloped countries is much higher than that of developed countries. The GDP growth rate is lower due to the larger economic size. So there are different aspects under consideration in the global recession. Although the causes of each recession are different, there are some similarities. But if you understand the current situation, you can understand that the coming days are going towards recession.
Unexpected global recession" Economic disaster is one of the leading causes of the global recession. For example, Covid-19 was the name of the global panic or epidemic in which various countries have an economic disaster. And before getting rid of it, the war between Ukraine and Russia started. And due to these epidemics and wars, the price level Loss of control. Central banks raise interest rates and create a crisis. As a result, industrial production and consumer goods sectors gain negative influence. Import costs increase, and countries with an economic crisis are more dangerous in such a situation.
Due to these wars, oil prices have increased. Prices disrupted economic activity. Lockdowns started due to covid-19 disrupted normal activities. And this global recession affects production, investment, income, employment, and poverty.
| How do you think the global recession will affect the job market, and what skills and qualities will be most in demand in the future? |
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"Shrinking Labor Market" Already, the global economic crisis during the Covid pandemic and the Russia-Ukraine war continue to affect the job market. Nearly four crore people have lost their jobs, and the recession will likely become more pronounced in the coming days. Unemployment is expected to rise further in 2023. Both the rate of job creation and development has declined worldwide.
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The world today bears the risk of an impending Great Recession. Government and private departments should work together to increase agricultural extension. Employment of the rural agricultural population should be ensured. Agricultural credit should be increased. Adequate budgeting and marketing support should be increased. Employees should adopt programs to increase productivity. Emphasis should be given to merit-based professions. The use of technology should be increased. Education should be given importance, and the education rate should be increased.
| What lessons can be learned from past global recessions, and how can these be applied to better prepare for future economic downturns? |
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There is a threat of a great crisis in the world. Various countries have already taken various steps in an attempt to capitalize on the experience of past global recessions.
Food insecurity, price inflation, and an increase in fuel oil prices should be considered to eliminate the disasters created during the recession. If there is a shortage of food, people's livelihood is difficult.
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Therefore, to guide all to produce and expand agricultural products through a pre-planned, technology-based, and skilled workforce. Implementation of a separate budget for the agriculture sector. Increasing reserves in the central bank. How to keep inflation under control, keep agricultural land vacant continuously, and reduce interest rates.
Because the main obstacle to this country's protection is agriculture, tolerable and manageable conditions should be implemented in every sector for the prosperity of the agricultural sector.
| Do you have any prior preparation? What are they? |
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By 2023, a major global crisis is feared, and food insecurity may become more pronounced. As a result, we need to be prepared for this recession in advance. And as that preparation, priority has been given to the agriculture sector. The government has implemented policies to ensure the use of technology to increase agricultural production and provide low-interest agricultural loans, training programs, and timely agricultural rehabilitation programs. Central bank reserves have been increased, Bangladesh has already reduced imports of luxury goods, banned officials from travelling abroad except for emergencies, and reduced import costs to deal with the eventuality. The current government has taken many other steps to deal with the global recession. To deal with the situation, the current government has encouraged and advised to bring all arable land under production, create employment and save farmers. And the government has advised everyone to follow the rules and work together.
I would like to invite my friends @maslam001, @selina1 & @paholags to participate in this contest. Click here to go to the contest link.