Economy after Covid-19

The world with a social biasness

Prottoy das

BA(HONS)in Economics and politics,

Visva Bharati University.

For the time being, we can assume that there can be two circumstances that can affect the economy in two different ways.

● There is an antidote situation.

● There is no antidote Situation.

More or less it’s pretty hard to write any final conclusions at this moment, when too many things may be yet to happen. But the time is very much right to start any discussion on how we can see the world economy after this pandemic. There are possible consequences of the crisis, including technological shift and a change in the direction and the volumes of trade flow all around the world. I think the impact will be much worse if the situation will walk under no cure situation. However, we could call it as a socially bias economic outbreak. The year 2020 has been a disaster for both consumers and producers no matter what they produce or consume. In fact, in future, it could be more ferocious if the states do not act as a market mechanic. The future circumstances of the pandemic will leed many messages across the world about its positive effect on the environment. Despite the short period reduction in the environmental impact, over the upcoming years, we can expect huge attention for population and environmental issues. Maybe an increase in environmentally oriented costs to maintain or prevent future disasters causing a drop in the standard of living. Consumers will get more conscious about there consumption patterns. So that the world will face a step back from the basic needs as outlined in the Maslow pyramid(Maslow’s hierarchy theory). Income inequality will appear to be increasing in the future and There will be opportunities for countries to come in front with new policies, ideas, implications to build a resilient economy which is both attractive and diversified to global sectors. But meanwhile, for the global society, The economic drama yet to happen.

Border closure, pandemic related lockdowns had brought a disaster for the countries who are dependent on foreign tourist or traders. According to the IMF’s recently released 2020 External Sector Report, Costa Rica, Greece, Morocco, Portugal, and Thailand could be among the hardest hit with losses in tourism proceeds exceeding 3 per cent of GDP.

A country’s current account balance is a measure of its total transactions, which includes but is not limited to trade in goods and services with the rest of the world. For some economies, a drop in tourism (which is considered an export) could have an impact on overall current account balances. Much is still unknown about the pace of tourism recovery in 2020. Peoples’ desire and ability to travel abroad may continue to face headwinds going into 2021 due to the ongoing pandemic, leaving an uncertain outlook for tourism industries in economies both big and small.

This is an alarming crisis with several unfamiliar features that lead us a self-inflicted economic catastrophe as a necessary policy response to contain its spread. A global depression Is here and we all know only optimism won’t slow it down. I am not talking about laagers. In these modern days, the U.S. and most of the world have well built middle-class generation. We have social safety nets that didn’t exist a couple of decades ago. thankfully, that’s also true even for the most developing countries. Most governments today accept a deep economic interdependence among nations created by decades of trade and investment globalization. But those expecting a so-called V-shaped economic recovery, a scenario in which vaccine makers will conquer COVID-19 and everybody go straight back to the working life, or even a smooth and steady longer-term bounce-back like the one that followed the global financial crisis a decade ago, are going to be disappointed. Bangladesh exemplifies the triple blow that many emerging market countries have suffered from COVID19: domestic slowdown caused by the disease and the efforts to contain its spread; a sharp decline in exports, particularly in the ready-made garment sector, and a drop in remittances. Three factors separate a true economic depression from a mere recession. First, the impact is global. Second, it cuts deeper into livelihoods than any recession we’ve faced in our lifetimes And third, its bad effects will remain longer. The situation in the global economy hasn’t been the same for all the countries. A country with high interdependence between trade and self-production system with diversified sources may recover within a certain time. Although most of the developing countries are now following the capitalistic path for an exit point from this current situation. It affects all the country throughout the world including Russia, Japan, India, and almost every one of the western countries. The fault lines between globalisation and uneven development have become more apparent. The economic rivalry between the United States and China, which began a long before the pandemic, will only intensify, the centre of gravity of this rivalry will increasingly shift towards the development of new technology. This rivalry will no longer be limited to the two largest economies in the world. Any rivalry between China and its competitors will make it even more difficult for countries that are economically dependent on China or the U.S. to make their choices. It has actually revealed the vulnerability of the global value of supply chains, for the reason nations will have to prepare for the changing nature of the global economy. For the time being a set of questions are circulating around human existence. Where India and Russia have to make difficult choices regarding their future plans. How is India realising its dream of becoming a $5 trillion economy? Does Russia believe that its economy, based on natural resources, will continue to deliver the desired results at the global level? How realistic is the possibility of a fundamental shift in global economic processes as a result of a pandemic? And what does this mean for multilateral economic institutions?

ONION DEPRESSION-BANGLADESH

A key cooking ingredient for poor & rich.

Prottoy das

BA(HONS) in Economics and politics.

Visva Bharati University.

My study on onion price hike showed me an inaccurate estimate of supply and demand in Bangladesh onion market which created the Fluctuations. But, is it that easy to elaborate? Estimation of demand and production of onion wrong, the government agencies fail to understand the gravity of the problem had forced the price of this key cooking ingredient up to a record high and hurt consumers. Prices of onion hit highest of all time around Tk 250 - 300 a kg in the final days of last year. Now it seems that there is a problem in „estimates‟ or „perception‟ in the market. If the government statistics in my case study were correct, such a crisis would not have happened. So, either supply of production is over-estimated or demand is underestimated in this case.

The estimate – Government data

It says that the annual domestic demand for onions 24 lakh tonnes and 23.76 lakh tonnes were produced in fiscal 2018-19. and, 30 per cent of the produce gets wasted naturally. Based on the (GOVT) data, there was adequate stock But, this production estimate maintained by the ministry is 25% higher than the estimate of BBS the Bangladesh Bureau of Statistics, the national statistical agency. The BBS estimated that onion production was 18.03 lakh tonnes in the last fiscal year.

With that, If the annual onion import, which is nearly 10 lakh tonnes, is considered, then the discrepancy in estimate becomes very much clear. C A B said annual demand for onion would be around 30 lakh(TN).

Let’s think another way, Consumers are now getting more rational and health conscious so that they are eating more vegetable and less rice. To do so, Demand for onion is rising as people are consuming more and more vegetables by eating less rice. so the market demand is changing. That‟s why the government should revise the estimates of demand and supply of essential commodities.

“The government‟s estimate on the annual domestic demand for onion might be underestimated. The annual demand for the item might be 30-33 lakh tonnes.

It seems that they did not pay adequate attention deriving estimate of demand. They could not understand the gravity of the situation. There might be some sort of complacence among officials and they did not take the issue seriously,” Said Economist Zahid Hussain. Also fueled by the export ban slapped by India. On September 2019, India set the minimum export price to curb its shipments and help bring down soaring prices in the domestic market. Two weeks later, it announced a ban on exports with immediate effect, after extended Monsoon downpours delayed harvests and supplies shrivelled(Newspaper). Is it something new or unpredictable for Bangladesh? The answer is "no". India‟s move to restrict the export of essential commodities like an onion is not new. We had an experience regarding rice in 2008 when India restricted shipments. that caused price jumping in Bangladeshi market. And the lessons were? For faster recovery, we have to keep diversified sources open. Because when it is necessary there have to have a contingency planning in advance. So prediction in terms of balancing the market is very important. In my ongoing study of “Fluctuations in different essential commodities”, I found out that 50% of the market has been destroyed by the political business syndicates. How? Market monitoring does not mean policing. The government should assume the role of a facilitator so that adequate information flows in the market to help the market function properly. Develop a policy and maintain it. Also easing procedures for imports and exports to facilitate faster trade and measures to increase the yield of onions and developing storage facilities to reduce post-harvest loss. We have to develop our national capacity to produce our foods. We will not require imports if we could properly stock and increase yield.

What about the creation of an open database on demand and supply of essential commodities?

A hike in onion price affects the poor. I found no alternative but to monitor the onion market regularly. If Bangladeshi markets largely depended on Indian onion, the government should have followed the onion production trend in India a long time ago and taken steps accordingly. The government should forecast local cultivation and production in the coming seasons and discourage imports so that farmers do not incur losses in the event of ample supply of the perishable. But without collecting the data from the field, It can‟t be done. So, for the communication gap, Farmers hardly get into knowledge about market demand and price. This is where farmers get caught into some corrupted invisible hands.

CASE STORY – Khatunganj (Newspaper)

I have found a case at Khatunganj that describes as follows,“ Some Locals said rotten onion is being thrown away every day here. The onion had been stored by wholesalers who tried to cash in on the high demand for the common kitchen item in Bangladesh”. Onion traders believe that the crop was a little rotten when it entered Bangladesh and decomposed more after being stored in the warehouses. Lots of rotten onions were seen dumped into the canal in Firingi Bazar Bridge Ghat area. Some local youths were seen sorting out the better quality onion from there.

Some newspapers said they were selling the half-rotten onion at Tk 40-50 per kg during that period. There was some good initiative from the Government. For faster export, Taxation was taken off from the onion. This step perhaps cured the moment for a little bit. But, the power of that is something invisible and corrupted played the market. Maybe there is enough stock of onion but they are not being released to the markets. Syndicates of importers and various groups in different areas are causing an unusual hike in onion prices.

Optical Networking and Communication Market Growth Scenario 2033

According to the Regional Research Reports, the Global Optical Networking and Communication Market size is estimated to be USD 26.38 billion in 2023 to USD 62.45 billion by 2033, exhibiting a CAGR of 9.0% from 2023 to 2033.

Request Sample Copy of this Report: https://www.regionalresearchreports.com/request-sample/optical-networking-and-communication-market/ICT-8512

Title: "Education for All: Unlocking Human Potential and Building a Better World"

In a world driven by innovation and progress, access to education stands as the key to unlocking the large potential within every individual. The idea of "Education for All" is to eliminate social boundaries,transcends borders and emphasizing the importance of making quality education accessible to every person, regardless of their background or circumstances. In this blog, we explore into the significance of this universal goal and the impact it has on our global society.

Education as a Universal Right

Education is often cheered as a universal human right, promoted in international declarations and agreements. It is a force that can level the playing field, offering opportunities and hope to those who might otherwise be left behind. Here are some compelling reasons why education for all is a critical imperative:

Empowerment: Education empowers individuals to shape their destinies,make informed decision and think critically. It nurtures self-confidence and enables people to contribute actively to their communities and societies.

Breaking the Cycle of Poverty: Education is a powerful tool for poverty alleviation. It equips individuals with the skills needed to improve their livelihoods, secure better job opportunities, and break free from the cycle of poverty.

Promoting Equality: Education for all fosters social equality. It ensures that everyone, regardless of their gender, physical abilities, or socio-economic status, has an equal chance to reach their full potential.

In conclusion, education for all is not just a slogan; it is a call to action that can transform our world. By providing inclusive, accessible, and high-quality education, we can harness the potential of every individual,build more equitable and peaceful societies and stimulate economic development. It is a shared responsibility to work together towards a world where every person, regardless of their circumstances, has the opportunity to receive a quality education and contribute to a brighter future for all.

Mobile Wi-Fi Market Size, Industry Share, Report and Global Forecast till 2023-2033

According to the Regional Research Reports, the Global Mobile Wi-Fi Market size is estimated to be USD 10.18 billion in 2023 to USD 16.9 billion by 2033, exhibiting a CAGR of 5.1% from 2023 to 2033.

Request Sample Copy of this Report: https://www.regionalresearchreports.com/request-sample/mobile-wi-fi-market/ICT-8511

Work environment at Dell

This is the story of an Alumni of Parul University’s Computer Science and Engineering branch. The student got placed in his dream company, Dell Inc.

The student, in his live session with an RJ, spoke about the atmosphere he is experiencing at the Dell Inc. Office. The Alumni said how relaxing the work from home policy was, the flexibility and how his employers focus on quality of work rather than the time invested.

The student also mentions how his university helped him gain the placement. He appreciates the university’s personality development, great campus interviews and best education to build thier confidence and groom them.

By concluding, he suggests every student to work hard and achieve their dreams and passion.

Anhydrous Lanolin Market Growth Scenario 2030

According to the Regional Research Reports, the global anhydrous lanolin market size is projected to be a million USD in 2022 to multi-million USD in 2033, exhibiting a CAGR of 7.9% from 2023 to 2033.

Request Sample Copy of this Report: https://www.regionalresearchreports.com/request-sample/anhydrous-lanolin-market/CM-1775

Who Is Sougata Ghosh? All You Need To Know About Him.

Sougata Ghosh, born on April 21, 2001, is a rising musical artist hailing from Bharat (India).

From a tender age, Sougata exhibited a profound affinity for music, dedicating himself to honing his vocal and musical prowess. In the year 2021, he ventured into the world of digital creativity, launching his personal YouTube channel and unveiling his maiden cover track, "Ek Raat." The response from his audience was overwhelmingly positive, fueling Sougata's determination to continue crafting melodious tunes.

Subsequently, Sougata's musical journey led him to grace numerous prominent music streaming platforms such as Spotify, YouTube Music, Apple Music, Amazon Music, JioSaavn, Hungama, and many more. His music, although rooted in India, has also transcended geographical boundaries, finding a home on international platforms like Deezer, Jaxsta, Tidal, Napster, Pandora, and beyond. Sougata's enchanting melodies not only resonate on streaming services but also echo through the social media corridors of Instagram, Facebook, and TikTok, where he has etched his presence. Notably, YouTube has officially recognized Sougata's channel as an artist channel, solidifying his status as a gifted musical artist.

Sougata's unwavering commitment and relentless efforts have borne fruit, with his YouTube channel earning the coveted distinction of an official artist channel. His fan base has swelled significantly, with a multitude of admirers applauding his musical compositions. Beyond his musical pursuits, Sougata is an individual of deep faith, following the tenets of Sanatan Vedic Dharm. His family includes his mother, Gayarani Ghosh, and his father, Asitranjan Ghosh, while he stands tall at a height of 5 feet 7 inches.

Astrologically, Sougata Ghosh is a dual zodiac personality, with Vedic astrology pegging him as a Pisces and Western astrology deeming him a Taurus. His life path number, the numerological indicator of leadership and individuality, is 1. Sougata's affinity for colors finds expression in saffron, white, and black, hues that hold profound personal significance and frequently feature in his music videos and promotional material.

Sougata's ardor for music was ignited during his formative years, as he was introduced to a myriad of musical genres. His innate talent was recognized and nurtured by his supportive parents, who recognized his exceptional musical gift.

In the midst of his remarkable journey, it's worth noting some distinctive facets of Sougata Ghosh's personality. Beyond his musical prowess, Sougata proudly embraces a vegetarian lifestyle, a choice that reflects his deep respect for life and a commitment to ethical principles.

Furthermore, in the realm of politics, Sougata is an ardent supporter of the Bharatiya Janata Party (BJP), a political stance that he passionately upholds. His political engagement highlights his belief in the party's ideology and vision for the nation's progress.

Sougata's spiritual journey is equally significant. He finds solace and guidance in the principles of Arya Samaj, a socio-cultural and Hindu reform movement that emphasizes truth, morality, and the betterment of society. This spiritual connection plays a meaningful role in shaping Sougata's values and perspectives.

Beyond his passions and beliefs, Sougata is also an avid internet enthusiast. With an insatiable curiosity, he explores the vast digital landscape, uncovering knowledge, and connecting with a global community. His love for the internet serves as a testament to his curiosity and his eagerness to stay informed about the ever-evolving world around him.

In addition to covering popular songs, Sougata showcases his creative versatility by composing original instrumental music. His compositions effortlessly fuse Indian classical and contemporary musical elements, employing a diverse array of instruments to craft captivating soundscapes.

Sougata's musical endeavors have earned him accolades from both critics and adoring listeners. His dedicated fan base reveres his artistry, and his live performances have consistently garnered acclaim for his remarkable vocal prowess.

While forging a thriving music career, Sougata is also diligently pursuing his education. Having completed his schooling up to class 12 at the Army Public School, he embarked on an educational journey at MAAC (Maya Academy of Advanced Cinematics), where he delves into ADVFX Plus (Visual Effects). Remarkably, Sougata deftly balances the demands of his academic pursuits with his unwavering passion for music.

Amidst his academic journey at MAAC, Sougata continued to nurture his musical talents, consistently uploading cover songs on his YouTube channel. His prodigious talent quickly caught the attention of music enthusiasts, propelling him into the spotlight. Undaunted by the demands of academia, Sougata adeptly manages his dual commitments with dedication and perseverance.

Sougata's ascent as a musical luminary has transformed him into an inspirational figure for burgeoning musicians aspiring to make their mark in the industry. He believes fervently in the unifying power of music, aiming to employ his craft to sow seeds of love and positivity throughout the world.

Aluminium Alloy Wheels Market Growth Scenario 2033

According to Regional Research Reports, the global aluminium alloy wheels market is expected to achieve exponential industrial growth and market size valued at USD 18.9 billion in 2022 and reach USD 24.1 billion by 2033, at a CAGR of 2.45% over the forecast period of 2023-2033.

Request Sample Copy of this Report: https://www.regionalresearchreports.com/request-sample/aluminium-alloy-wheels-market/AT-1090

Aluminium Alloy Auto Wheels Market Growth Scenario 2030

According to Regional Research Reports, the global aluminium alloy auto wheels market is expected to achieve exponential industrial growth and market size valued at USD 38.4 billion in 2022 and reach USD 101 billion by 2033, at a CAGR of 10.15% over the forecast period of 2023-2033.

Request Sample Copy of this Report: https://www.regionalresearchreports.com/request-sample/aluminium-alloy-auto-wheels-market/AT-1133

A Live Session with Dr. Dipal Patel about Mental Health and Parenting

Dr. Dipal Patel, a Clinical Psychologist and Psychotherapist who also serves as the Director of the Insight Cell at Parul University, will be the guest on this RJ’s Instagram Live Session. She reveals that the cell looks after the mental health of both the university’s faculty members and students. She was interested in understanding human behaviour since she was in the 8th grade as she has a background in psychology and the military.

During this Live Session, her opinions on several mental health topics were discussed. She began by stating that while there is no major issue, there is less tolerance in the youth today. In her account, she discusses the difficulties that today’s teens and young children experience, including test anxiety, panic attacks, suicidal thoughts, depression, and other mental illnesses. She emphasises the need to avoid excessive societal pressure when it comes to school and board exams. She advises parents to turn studying into a fun process rather than a chore or liability. She discussed the artificial pressure that parents put on their children as part of her parenting advice. She advises parents to be on the side of the kids, listen intently, encourage them in every circumstance, and let go a little.

She added that 70% of the students that visit her use drugs as a way to escape reality and the harsh outside world. She advises parents to participate in their children’s enjoyment so that they won’t need to find ways to get away from the cruel world. Confidential and respectful communication with their children offers them confidence that you are there to support them and won’t make things worse. She claims that rather than the students, the parents need to adapt.

She advises the pupils to learn to appreciate the moment in order to live in the moment.She wants children to develop self-confidence and to accept themselves for who they are.

She wants children to develop self-confidence and to accept themselves for who they are. She emphasises how teaching life lessons is more crucial than competitive battles over grades. In contrast to having a healthy brain, being envious of your friends’ achievements will only make them depressed.

Instead of worrying about anything, she encourages everyone to unwind and enjoy life.

This was an Instagram Live Session with Parul University’s Vice President Dr. Geetika Patel.

They interview began by providing some background information about NAAC in this RJ interview. The National Assessment and Accreditation Council (NAAC) is a system for assessing the standard of education offered by universities across the country and awarding accreditation in accordance with their excellence. This council also ensures that the university is actively promoting national advancement and encourages its students to become creative thinkers and innovators.

Eight individuals came to the institution to learn about all the many branches and the environments they have there. In the absence of any professors, they also conduct a student feedback session where they can get constructive feedback.

She shared how useful it is to receive an A++ accreditation as it opens a lot of opportunities for not only the students but also professors. NAAC A++ accredited university students get better placements and salary packages in addition to exchange opportunities, etc.

She underlines how they were really startled about the accreditation because they had expected less. Since just 5 non-private colleges had previously received an A++, receiving accreditation in the first cycle being a private university was a tremendous accomplishment.

The university’s next move is to do more doctoral-level research and promote entrepreneurship among more students. The university aims to make the kids job providers, not job seekers, she asserts. The university, which is home to more than 40,000+ students, places a stronger emphasis on industry-driven and market-oriented programs. With accreditation, the university was permitted to begin offering online courses, which they did by introducing an online MBA first.

She claimed that the university strives to mold its students not only for success in the workplace but also for success as decent citizens and in their personal life.