The entire world economy has fallen down so pathetically. The financial turmoil has been wriggled almost all country's monetary portraits. This hazardous aberration towards world's economical growth is firstly generated in United States ofAmerica, and then spread over European powers. The USA was really ruling the world till now from last few decades. They controlled all the key roles, in molding as well as destructing the world. They decided that "how the world should be"? They acted like a "worldpolice". But, unexpectedly the super power of the world appeared to tremble down from the 'stage of saturation'. This global crisis gripped on most of the business establishments, those who already have shortlisted in the world's leading firm's address profile. This caused to push the firms into a murky recessive dig.
By doing a critical postmortem on the reasons associated with this particular sick, we can reveal so many secrets. So, after exploring them, it is a must that, there is a golden requirement of developing an apt solution to get rid off it. Actually, this kind of crisis was a necessity. It is so fortunate to play down this unwanted rusting in financial growth, so soon. Or else, the situation could have been rather worst and critical, in case if it was delayed!
The down fall of the US economy seem to be, same as like the termination caused to Soviet Union almost before 20 years. But, we can sketch out some major differences, interms of type of economies they follow. The devastation of Soviet Union was not a rapid one. It started from Khrushchev's era and kissed its zeniths at Gorbachev'sera. Both Glasnost and Perestroika had played the role of fineshepherd.
Likewise the US market or capital economy was also tending to retard and to get frozen up further, step by step. The domestic as well as international policies of President Bush, acted like a catalyst to melt down things. So this unexpected disaster really perplexed the entire group of nations after the US, as they were successfully leading and lifting up the world financial dais pretty vigorously. It began to affect them with an imbalance.
As it is a continuous decay process, it takes plenty of time to make up an ultimate hypothesis. If, we neatly want to find out the root of this problem, we should also want to move little bit beyond from the fiscal factors. This cannot be solved by roving through the path drawn only on the financial aspects, but also we should consider various elements which images on the monitory functions. We should be able to detect and analyze those complicated subsidiary symptoms smoothly.
One thing is quiet sure that; the destruction of Soviet Union was not only that of its own, but also of the whole globe. So,intellectually we should be much broader enough to assimilate America's problem as ours. The thing happened to Soviet Union was something which actually caused to the principles and practicality of Communism. When Soviet Union came to set down, most of the Capitalistic powers started opening and spray off champagne bottles each other with extreme piece of proud! They announced that "here history ends...", and they composed the crowning of their esteemed emperor America!
But now that baseless belief and determination thrown into a waste bin called 'financial turmoil'. So, this can betreated as a starting knock to the rusting of world capitalism. It is dead impossible to elongate the pleasant length of a patient like the US, with a cure by a specialist gang of financial doctors!
Not only America, but almost all the countries also should find out a new possibility to survive. There would not be any more existence for ageneral monitory prospective or economical system, which is capable of meeting the wide range of economical requirements of the entire mankind. Thus, it is a must to develop separate techniques for each nation, according to their conditions, to exist in the competitive world. Ethnical identity, historical experience, life style and value visions of various countries are distinguished each other, according to the culture of the people. So, these diversified groups of population meet their fulfillment through satisfying and fusing their preliminary needs, like these.
So what ever the economy system it may be, it should be capable of laying the mat according to the requirements of the popular strength of that country. There should be a placid linkage between the desire of the people and the financial requirements of the nation. So, off course all the nations definitely will find out a new separate entrance to get through. The ultimate slaughter of both Capitalization and Communismis already been dreamed and even predicted by some of the majorintellectual thinkers like Mahatma Gandhi and Mahayogi Aravindan. According to Mahayogi Aravindan, "both the Capitalization and Communism have its own role and mission to perform, but after meeting the same, will vanish from the world economy soon…" He showed an inexplicable courage to unveil his prediction on the worthlessness of both of these, during these two economy systems were ruling the world at its paramount! Capitalization and Communism are the two western views, which announce or argue materialism and consumerism respectively.
Once, the ever green Indian philosopher Swami Vivekanandan proclaimed that "both Capitalization and Communism are only the different sides of a common coin, though it lack behindbecause of the absence of the internal spiritual force, it is not going to attain stability at all…"
Is human only a political or only a financial creature? No,is it? Some other factors add value to their life, despite of being crazy after money! Financial stability surely will assist and help manto run his life effectively and conveniently. But, for hitting the ultimate goal of his life, he required to build up his ownlife-perception and thereby he should be able to integrate various resources available into a specific module.
So, the complete distraction happened towards these two contradictory specimens, clearly points out to this basic required mechanism of a man. Some of "new left intellectuals" had tried to substantiate and keep alive, the Communism. But, unfortunately or fortunately they failed from renovating their dream project. Likewise, some of the "Neo liberal intellectuals" are also trying to hold a thread head of survive. But, possibly there would not be any chance for them to have a welcome breath! On behalf of today's global turmoil, Asian continental countries can contribute much effectively than that of most of the European countries and American countries.
Especially, consider former Communist super power China, they slowly made a clever escape from the"red devil's claws", and returned towards their proudfull inheritance, which is emerged from a master brain called Confucius! So, to a fine extend, Chinese can provide a vast hold surely. But, as far as the present foreign political policies of Chinese government are concerned, it is also rather tough to assess. They are in a hurry of forming a special financial system, which merely prefers to give prior importantce to their own identity. But, it is impossible to prove or
determine that China has left the desire of developing the Imperialism.
So by putting these factors forward, according to most of the famous financial analysts, it is India's chance to get in to the game, and can play a significant role in this important climax of the game.
On this occasion, it would be interesting to recall the words,which have been flown from the world famous historian Arnold Toynbee.According to him "to resolve the problem of self destruction, India only should come forward and attempt to find windows to get out of this rigorous problem, it's historical chapters had been began fromthe west…"
The goal of India should not be to find out just analternative to the present economy systems. But, the ultimate destination should be to project an innovative and mostly accepted mode of financing. But one thing, that should be relevant and adequate to meet the fundamental necessities of the entire humanity. It should not be meant for either elite class people or vise versa; but should touch the common objective. In this case no one else can do better than India, as Indian heritage and culture emphasized much on understanding and welcoming others values in the past.
So it is a real opportunity for Indians to show their leadership abilities towards the global civilization. But, it is so unfortunate that our government shows bit of reluctance to get into the supposed ground. They still keep the unwanted habit of seeking thehelp for a "final opinion from the US". So it is the occasion to assess and monitor our self and thereby to jump down from the orthodox constraint. Most of our ambassadors, financial advisers, scientistsand educationalists are found relaying and respecting on "westernmodels". They always keep their ears open in front of the worthless comments which is been arising from the "westerns".
By following their words, we fail our self to detect the 'highness' of Indian impact. Actually, whatever happening in India at present is also the same. We can exemplify those, through the group suicide course of poor farmers. Still that dangerous trend goes on without any proper remedy! Gandhiji once suggested that "the soul of India lies in villages and the farmers are the real asset of our country". But, the independent India's plutocracy behaves and acts like ignoring Gandhiji's words completely. They organize to develop the standard of our villages through deforestation and thereafter by cultivating "concrete farms"! The value of human life is been erased so drastically, the intangible assets of our life are given least importance.
Here, basic manners or etiquettes of business too depreciated. We hardly find any companies following ethics rather than Tactics. The profit orientation rules everything. Because of all these mischievous sceneries, the global business society faces difficulties to get rid of this severe global darkening. The actual phase of freedom itself diminished here.
Our tendency to swim globally to import maximum benefit from the global financial status, have inculcated the habit of dependency on others, in India. So we have to rescue from that taut knot. On this crucial occasion we have to change our psychology completely according to the vogue. Unless, again over a period of time we may pitifully assign to witness Barrak Obama and his crews dancing upon us. Who is the first ever Afro-American to become the American President. The entire world focus at him now, because it is clearer to all, that Obama's decission would impart solution to the world financial turmoil to a great extend.
At present, only a few countries like India and China shownsome immunity against the global epidemic disaster. Thus, India can be more conscious as well as more preserved. India's foundation of economy is so rigid with respect to most of the other countries. So the financial degradation may not go to quake Indian economy much. At the same time, it appears like a nasty Tsunami in front of most of the other economies of the world. So, if we really capitalize this situation, India can also become the omni potent of world economy once. The great dream that we had for longer and longer! That is why; we can whisper our self that "the global financial crisis was a necessity for India to get into the ground"!