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Showing posts from September, 2020

2.3 % Grew in China’s Economy

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  China’s economy recovered to pre-pandemic growth rates in the fourth quarter, propelling it to a stronger than expected full-year expansion of 2.3% and making it the only major one to avoid contraction.  Gross domestic product climbed 6.5% in the final quarter from a year earlier, fueled by stronger-than-expected industrial output, the statistics bureau said Monday.   Covid-19, which has ravaged the world economy, first emerged in central China in late 2019. But the world's second-largest economy also became the first to bounce back after imposing strict lockdowns and virus control measures. It is expected to be the only major world economy clocking positive 2020 growth. In the last three months of 2020, China's economic rebound continued with a better-than-expected 6.5 percent growth on-year, a sustained improvement since the second quarter. This brings it back to a pre-pandemic trajectory, although full-year 2020 growth is still its worst performance since 1976, when the ec

Sports under Tyranny

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Navid Afkari, 27 was sentenced to death in 2018 for the murder of a security guard during the nationwide anti government protests going on. He was convicted of “voluntary homicide” after stabbing to death Hossein Torkman. Afkari had said in a leaked recording that he had been tortured to make a confession. Amnesty International has called this incident as a “travesty of justice”. The world player’s association has seen this incident as unjust and said that Iran could face expulsion from world sport for such a horrendous act. Afkari was reportedly extracted under torture and convicted on the basis of confessions aired on television. The international Olympic committee has also mourned the death of Afkari and was “deeply upset” that pleas from several athletes and other international institutions around the world was gone unheard. Afkari was executed in a prison in Shiraz and according to his lawyer was forbidden to meet his family which is a prerequisite in Iranian Law bef

The Fall of the Indian Farming Industry

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Three Bills on agriculture reforms were introduced in Parliament on Tuesday to replace the ordinances issued during lockdown. Opposition parties and farmer groups are opposing the move to enact amendments to the Essentials Commodities Act, new Laws to bypass the start APMA Act and to facilitate contract farming. Introducing The Farmers Produce Trade and Commerce (Promotions and Facilities) Bill, and The Farmers Empowerment and Protection Agreement on Price Assurance and Farm Services Bill, Agriculture Minister Narendra Singh Tomar said “The New Law would benefit farmer by empowering them to decide the price of their produce, which was earlier determined by the traders. It would encourage private investment and technology introduction in the Sector". Congress MPs Adhir Ranjan Chowdhury and Gaurav Gogoi opposed the Bills, accusing the Centre of grabbing the rights of farmers and handing it over to corporates, adding that the States were not consulted. “It is beyond the legislati

The downfall of Indian Economy

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The Indian economy is in a turmoil right now with the GDP declining at behemoth rates, unemployment rates surging and no hope for a turnaround in near future. The people in power blame it on the ongoing pandemic and how due to the lockdown every industry is shut and they have no fault in the occurrence of this. However, this trend of declining growth rates and increase of unemployment rates has been prevailing since last year and experts had already predicted such an outcome before the pandemic as there was a lack of concrete provisions which would really help the secondary and tertiary sector in the last few budgets. It has been seen that quarter after quarter, the GDP growth had been decreasing from 8% in 2016 to 4% in 2020, which is blatantly low for a developing country like India with such a humongous youth population and prospects for growth. This blog will further explicate on this issue. Rightnow economy is in a downward spiral. The Economist Intelligence Unit (London) just low

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