The focus is on Asia and the two giants, China and India. India’s neighbor
and the other Asian giant, China, the world’s second-largest economy grew at
its slowest pace in a quarter of a century. During the same period India grew 6
times from $326 billion to $2 trillion in 2014.
China’s GDP growth in 2015 was
6.9%. It is the slowest since 3.8% in 1990 a year after the Tiananmen Square
crackdown rocked China and isolated it internationally for many years. For the
first time in 25 years, China’s economy grew at its slowest pace at 6.9% in
2015, sparking global concerns over the health of the world’s second largest
economy and its impact on investors as the communist giant embarked on painful
economic reforms.
Experts give various reasons for
the slowdown. Analysts point to a multitude of reasons – a weaker external
environment that caused Chinese exports to drop last year and a limping
property market, a key source of revenue for the government.
More alarming in recent months is
the stock market collapse that caused the financial sector to contribute less
to the economy, and a weakening currency that has seen capital storm out of
China. After decades of rapid Chinese growth, which helped the world navigate
the 2008 global financial crisis, the slowdown is a worrisome sign.
Why is China crucial? China is
the world’s second-largest economy and it’s a largest trader in goods. Its
influence on other economies is pronounced whether through the prices of
commodities such as iron ore, oil and copper, or through rising demand for
luxury and consumer goods from foreign companies. Worries over the economy have
also fuelled sell-offer in overseas stock markets in recent weeks.
With the country hitting a new
low, Beijing may further loosen monetary policy this year to fight deflation,
with the weak growth figures spurring expectations. The other challenges are
how to handle a massive oversupply of property and rein in continued
overproduction in heavy industries – many of them state-owned that dominate the
economy.
IMF positive about India
The International Monetary Fund
(IMF) kept India’s growth projection unchanged at 7.3% in the current fiscal
and 7.5% in the next, even as it cuts world economic outlook to 3.4% for 2016
and 3.6% for 2017. In its update on World Economic Outlook, IMF said China’s
growth would slow to 6.3%, but India would continue to grow at a robust pace.
MyPost
Four Places Perfect to Retire in Western India.
These places were
chosen on the basis of the local environment, population, connectivity to other
cities by road, railway & air, local cuisine and medical facilities, etc
keeping senior citizens and their families visiting them in mind.
Pune:
The cultural capital
of Maharastra. Also know for its old educational institutions. Is often said to
be the best place to grow old in apart from Belgaum, especially when it’s the
retired enjoying a decent income during retirement. When it comes to health
care, the city is the place to be in with good medical facilities available
closeby. Spoken languages – Marathi, Hindi, English & other languages.
Goa:
It’s not only
picturesque, but it seems to provide just the right atmosphere and environment
needed for an elderly to live an independent and peaceful life. Here you can
live a life with fun and liesure. Old temples and churches add value. It’s known
for it’s seafood vegetarian fare. Spoken languages – Konkani, Marathi, Hindi
& other languages.
Mangalore:
Not only does it
boast of the old and new, but lush greenery. It’s fertile for the retired
folks. They can lead a peaceful life. There are old temples, churches and
mosques for the devoted. When it comes to health of senior citizens, the city
has many medical facilites. The place is also known for academics with many
reputed ones located in and around the city. Good seafood and vegetarian
cuisine is on offer. Spoken languages – Kannada, Tulu, Konkani, Hindi, English
& other languages.
Kerala:
God’s own country.
Know for its palm trees, greenery, backwaters and abdunant nature, is a place
to be in. And since most young men are out in Gulf and elsewhere, you get to
see a lot of elderly folks. Some of the towns and cities like Calicut, Cannore,
Ernakulam and Cochin are ideal places to retire. Spoken languages – Malyalam,
English, Hindi & other languages
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Picture Post:
 |
| Mangalore airport, Karnataka, India |
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