Economic downturn Archives

As the socio-economic deluge hits Beijing due to the property crisis while gearing up to face Taiwan, the Chinese citizens struggle to survive. Their contractors and the contraction companies unable to build homes on time with themselves being lucratively bogged, the Chinese people have no option but to live under an incomplete roof. The dragon seems to be meandering towards an economic freewill with the largest debt crisis at Beijing's hands. China's real estate is central to the nation's economy as it contributes 30% of its GDP. There is a hull in the smooth sailing ship with a 72% drop in property sales. China's home sales have decreased by 60% year over year. With the citizens to the mainland trying to withdraw high amounts with no place to invest, banks have failed in many p...

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Lebanon Feels After-Tremors Of Beirut Explosion: Economic Crisis And Anarchy Flourish

Agamapar ChadhaAugust 5, 20220

Yesterday was the anniversary of the enormous non-nuclear explosions recorded: The Beirut blast. As a nation already declining before the blast, Lebanon has been reeling under political anarchy and facing a Sri-Lankaesque economic crisis. Residents of the area made a guillotine and paraded outside the port, which had exploded on August 4th 2022, protesting to catch the unknown perpetrator whose actions cost 200 people their lives and left 7000 injured. The police and armoured forces had to be mobilised to quell the rebellion. Authorities have reported a fire had broken out in the warehouses which stored highly combustible ammonium nitrate, which was placed by the arson to use as a bomb in the middle of the dense populous. Due to the public outrage after the event, Prime Minis...

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Poverty In Philippines: Filipino Infants Get Exchanged For Money

Agamapar ChadhaJuly 20, 20220

The pandemic’s aftermath has wreaked havoc or at least left an indelible on every nation in the world. From Sri Lanka’s economic collapse due to the demise of its tourism industry to a little chink in the Kiwi’s economy. It will take quite a while before nations reach the same stature and go back to the same status quo as they were before Covid-19 and rebuild themselves to their full strength. The Philippines is no exception, but the rampant poverty inflicted by the aftermath of the contagious virus and corruption in the nation ever-present has forced its natives to open up a market for buying and selling their infants on Facebook. The Philippines has one of the highest rates in Asia, and by 2020 around 1.53 million infants will be brought into the world. Still, it also could be beca...

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‘The Show Must Go On’ Says China As Sri Lanka Engulfs In Political Anarchy

Agamapar ChadhaJuly 16, 20220

As many have quoted, the Chinese' debt trap' may have led to China axing their leg as Sri Lanka collapses and gets quagmired in political and economic free fall. The Rajapaksa brotherhood that ran the country Gotabaya and Mahindra Rajapaksa, subsequent former president and later prime minister, have backed multiple projects by China for the last two decades like the Lotus tower, for example. China has also commanded some Hambantota ports for almost a century. China's main interest is to undermine and control strategic locations in Asia to undermine India and any Western allies in the region. Using an island nation on the coast of their belligerent gives China more autonomy over the area. However, the effect and tensions of these moves seem to unfurl with the Rajapaksa brotherhood ma...