Rajan sees signs of Great Depression

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Anup Tiwari

Anup Tiwari

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MUMBAI: RBI governor Raghuram Rajan on Thursday warned of a Great Depression-like situation while reiterating his often-stated position that beggar-thy-neighbour policy adopted by governments could be disastrous. Although Rajan has repeatedly said that crisis-battling economies should not take policy measures without considering collateral damage to other countries,him comparing the current situation with the Great Depression of 1930s created ripples in the financial world.In 2005, in his Jackson Hole speech,Rajan had compared the developments in the US to a pre- crisis situation and had warned of a cascading effect. The speech turned out to be prescient and brought him fame for forecasting the global meltdown that followed the 2008 Lehman Brothers' collapse. The beggar-thy-neighbour policy that Rajan is now warning against is the attempt by countries to devalue their currency and build trade barriers to grow even if it means worsening the condition of other economies.



http://m.timesofindia.com/business/...-of-Great-Depression/articleshow/47836757.cms
 
shawl_who said:
:huh:huh
Click to expand...

I'm Manchester United fan ; :ohya:ohya
If a European player from Spain or Italy to be signed to England,
normally their fee is in Euros...:lol:lol
so 30 mil euro will become 20 mil pounds instead of 22 mil pounds :tup:tup
 
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