The International Monetary Fund (IMF) has announced that the global economy has started to go out of the track. However, it needs many things to do, as it already left a deep scar on both supply and demand. It’s going to take more than ten years for the economy fully recover, if the next biggest worldwide economy turbulence hit on us!
Olivier Blanchard, the chief economist of IMF said although the economy is beginning to gain its momentum back, but the global output may remain in a lower stage for the new couples of years.
In this case, each of the country must re-balance their economies to make it more sustainable. As the world’s largest economy force, The United States should be concentrated more on exports, while the Asia regions have to be turned more to imports.
By the way, Mr. Blanchard has given warning that unemployment rate won’t peak until next year. He also mentioned that higher taxation is unavoidable, as it’s the cost of the economy crisis.
However, there’s also a big probability that the recession is returning after a few years of economic recovery. Hence, all the countries in the world should be cooperating and working with each other to avoid this catastrophe from happening again!
Many wealthy people love to keep their money in banks, as they thought it’s more secure and guarantee. In this case, the famous Swiss Bank, UBS have been a favorite bank for the people from all around the world, as the money that being kept inside the Swiss Bank, UBS cannot be investigated by anyone else! This means, it’s highly confidential and voided.
However, there are more than 150 US customers of the Swiss bank UBS are suspect to be involved in the tax avoidance. The suspects are accused of hiding income and assets. The main purpose of this act is to avoid paying US taxes!
Hence, the US government and UBS have agreed to resolve their dispute over tax evasion, by enabling the US government to check the 150 suspected USB’s account holders!
As a country’s resident, it’s our duty to pay the tax. So, don’t think you can run away from the tax, as the government will track you down. Once they found you’re guilty, due to the tax avoidance, then you have to prepare for the punishment!
In the business world, it’s a crucial factor to build up a great relationship with as many people as possible. You’re doomed to fail, if you trying to self-centered yourself, just like the North Korea did!
No doubt, that China has become one of the important forces in nowadays economy world. Many countries seem the opportunity and trying to engage a long relationship with China!
As the biggest force, the United States of America don’t want to fall behind, as they’ve agreed to shape a good relationship with China for the upcoming years.
Mr. Barrack Obama, the recently President of U.S., have mentioned that the relationship between the U.S. and China is going to shape the 21st century.
The US-China Strategic and Economic Dialogue had carried out, which is mainly focusing on the economic recovery for both of the countries and worldwide!
China Vice Premier, Mr. Wang Qishan described the opening up of China’s economy is a great opportunity for the U.S. to boost up their seriously affected economy back on the right track!
However, this cooperation is more on the economy niche, so don’t expect too much on it, unless U.S. and China has agreed to take the cooperation further in the near future…
Many of the factories have been seriously affected by the recession, as the factories’ owners decided to freeze the workers’ salaries.
Well, in U.K., many workers work the works, but they’re not getting pay with the monthly salaries, as two-third of employers have been suspended salaries, from April to June!
Based on the EEF’s survey, the economic turmoil is giving a heavy bash on the U.K. manufacturing sector.
Many factories workers have been protesting about the unfair policy from their factory, and some of them even deciding to strike and show off their frustration!
The EEF described that it’s not the end yet, as they expect that average settlement levels in manufacturing will continue to fall until the end of this year!
Hang it there, guys. I’m sure you’ll be able to go through the toughest moment.
In the last few days, I’ve observed and figured out the main causes of the recession. Today, I would like to sum it up, why some companies/people are seriously hit by economic turmoil, while others seem to be fined or even profit from it!
Did you know that over 80 percent of the companies/people don’t want to face up with any financial issues in the early stage, as they thought it’s only a small matter and won’t cause any further problem. They’re starting to panic and helpless, when the things are getting out of control!
Like the old adage saying, “Never put all your eggs in the same bucket”. Hence, you cannot invest all your money into the business, as you must keep a portion of capital fund besides you, in case, there’s an emergency!
Plus, it’s a wise choice to put some of the money into the bank saving account, as your money is well-protected under the coverage of bank.
By the way, if you’ve any question with your online business, don’t hesitate to ask for help/suggestions from other experts. If you don’t mind, I would be glad to help you off from the misery. So, feel free to drop me an email, if you’re facing any difficulties in your business! I’ll try my best to assist you.
India, the second most populated countries (Only after China), is currently struggling with the insufficient electricity supplies. If you’ve watched the Slumdog Millionaire, you noticed that up to 90 percent of the people who living in the Mumbai’s slums is terrible and horrific!
Honestly, most of the slums’ residents have no choice, but to choose between using their hard earn money to pay for foods or electricity!
Due to the extreme poverty, the residents would consider to steal power in the slums, since they cannot afford the high electricity bills payment. They knew it’s an illegal act and may cause them in trouble, but they’re taking the risk, as they don’t want their youngsters doing homework in dark!
Therefore, we’re a whole lot luckier than these people. In this case, we should learn to conserve the usage of electricity more efficiently.
Wilson Pon
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