The last decade saw a different pattern of buisness.
It was termed as Globalisation.
There was a huge frenzy .
There was a massive upturn.
Back offices,. Business process outsourcing centres were opened in India and other south eastern countries.
The economy of these nations shot up.
A new badge of employees status was ascribed.
The outsourcing was done to minimise cost.
The companies did cut their expenses.
The workers were made to work in the nights.enabling the portfolio of response to their western boss.
A dismal process of cutting expenditure.
The pay packets were hefty.
It is very much unknown in this part of the world.
The financial institutions also had an undue exposure
There was a joint venture agreement between majors.
There was a barrage of take overs.
All happened in regularar rhythmic movements.
Cheer and radiance spread everywhere.
All good things should come to an end.
The sub prime crisis in U.S was the first jolt.
The housing crunch, failure of banks, insurance companies added a vehement blow to the rosy economy.
The financial storm battered U.S.
Asian markets, European financials were engulfed by this whirl wind.
Can we call this financial tsuanmi?
Nay ,Tsuanmi is restricted to one particular geographical location.
Tsuanami is less ferocious in this aspect ,than the. economic down troddence.
The most powerful natural detractors are -Fire, water and wind.
This financial diaster is most pronounced
The affliction is fathomless.
The misery is unmeasureable.
The physical perception of tsuanami and the financial downturn may be altered.
The Fury of the ocean is ghastly.- loss of life at once
The anger of the monteary failure is starvation.-loss of life in interruptions.
Invisible errors like job displacement leads to financial crunch ‘ultimately treading towards penury.
. If not ,for this unmindful globalisation, most states would have fared well.
Countries which secured political independence,a half century back,are financially conquered by this unseemly predictions.
once again they have to struggle for liberty- economical freedom.
Let us be what we are. Let us not ape others..
contentment is tranquillity.
Peace of mind brings eternal sublimity.
Meenas Poems 