America Sub Prime Crisis left 26 lacs jobless in America
America's subprime crisis not only affected America but also affected all economies of the world. The superpower of yesterday is now facing such an acute financial crisis that last year it snatched away the bread and butter of 26 lac Americans. This is one of the biggest unemployment data after the Second World War. The national daily of India has quoted that in last December month alone the recession left more than 5 lac 24 thousand people jobless. It also says that in South Korea scientists have applied for the post of Cleaner, and the situation in the world is so bad.
In all parts of the world, companies are sacking their employees to reduce costs. Now perhaps America has learnt a lesson and will help it to restructure its financial backbone of the country. India has also been affected by the global recession but has proved to the world that its financial structure and banking system are much stronger than any other economy of the world. This will help India to get more Institutional investors from various parts of the world in future, as things will be settling down. I predict that India's position will be of becoming a superpower in the next 10-15 years and I am much sure about it. What I am writing today will be a witness later.
In all parts of the world, companies are sacking their employees to reduce costs. Now perhaps America has learnt a lesson and will help it to restructure its financial backbone of the country. India has also been affected by the global recession but has proved to the world that its financial structure and banking system are much stronger than any other economy of the world. This will help India to get more Institutional investors from various parts of the world in future, as things will be settling down. I predict that India's position will be of becoming a superpower in the next 10-15 years and I am much sure about it. What I am writing today will be a witness later.
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