The global economy has suffered tremendously since the start of the 2008 economic downturn. With the aggravating effects of the 2009 recession in Asia, everything seems gloomy for all businesses and international transactions.
Worldwide forecast for 2010 brings optimism that it will be a time for climbing a notch higher from the grave downfall of the past year.
As for press time, the downside effect of recession has still been sipping in to all corners of the globe. Although European countries may not be severely hit, the slowdown staggers in Asian economies at maximum levels.
The US, as a powerful nation, has been in two year’s in a row experiencing the numerous setbacks brought by the economic turmoil and seeking effective austerity measures and financial boosters to survive the attacks of the meltdown.
Even the growing economies of developed Asian nations are affected as equity markets and export figures strive to reach the minimum altitudes. The hopefuls among the marginalised sectors begin to linger about what the future will bring to thousands who have lost their jobs and have been heavily burdened by debts and financial responsibilities.
Looking at the trade flows, the financial crisis has leapt a higher plane of burden losing the trust of the citizens to what the economic sector can do. Expectations and prospects for new business ventures thin out, but still continue to struggle and survive the lashes of losses.
As the mantra of Asian optimistic-minded people becomes helpful, one can only hope and pray for a better life in 2010 with humble beginnings of stepping up and opening new doors of opportunities.