Inflation over global economy
By balu20
@balu20 (6)
Australia
July 31, 2008 3:10am CST
Inflation is the hot topic everywhere in the current world leading to spike in day-2-day products. Various countries follow different methodologies to reduce the inflation. In India, banks started raising interest rates impacting the real estate market; same is the case identified in various developed nations (US, Australia, etc.,). Inflation is impacting the middle-class more than the high-class families as price of common goods started increasing with the income being the same.
1 person likes this
2 responses
@raquib (65)
• Bangladesh
31 Jul 08
Hello balu, welcome to mylot. You can add me as friend if you want. Sure, high inflation is a real problem for a developing country like India. It's a big country with huge people. Today India is regarded as one the fastest growing countries of economical development. So, inflation should be reduced to make it a really developed country. Happy myLotting!
1 person likes this
@balu20 (6)
• Australia
31 Jul 08
Inflation is not only impacting India but it's in turn impacting all over world. Major food products like Rice exported from India to various parts of the world. Recently George W Bush commented saying high Inflation and increase in price for food products is due to the growth in India as Indian middleclass started looking for better products and in turn impacting the overall Inflation.
Last Monday, WTO summit failed due to deadlock between India, China and US not accepting on the terms. US need to liberalise their terms in interest to the developing nations such as India. Guess US is afraid of feeding China in this case.
Any comments???
@lixiaos77 (1030)
• Shijiazhuang, China
31 Jul 08
Actually low inflation can help the development of economy. But high inflation will do harm to the economy. What is worse, globelization of the world make it is possibe that inflation transfer from on country to the other, which works as the wing of butterfly.
