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What is recession

Today the world is going in a very dark phase as we know the GDP global world is declining and declining and it is continuing so, So, first of all, we should know what is the recession,

RECESSION

when the GDP of any country decline or reduce like in the first quarter the GDP is 7.2 % and in another quarter it fell to 6.6 % and in another 5.6 %
this is called a country recession but if the GDP of the whole world that means the combine GDP of all country fall then it is a GLOBAL RECESSION like in today scenario the global GDP falls from 0.4  in first then 0.6 %.

HISTORY

The word RECESSION is not new for us in my views it is very common to us first global recession has come in this world at the time of world war 2. AT that all countries are involved in the war due to which  the global economic decline due to which the recession come and this recession one of the worst recession because we don't have any appropriate data as all countries involved in a fight.

And then the global recession come in 2008 when the stock market has fallen due to which a recession come in this world. In this recession the AMERICAN, the economy most badly effects it increases  the unemployment level all over the world and also increases the prices in wholesale and retail prices but one country benefited from it that is china.

TODAY SCENARIO

The expert economist believes that the next recession comes in 2020 but it came in the early year that is 2019 due to many reasons, some of the big reason is all us know that is global the trade war between the AMERICA AND CHINA. And also noble coronavirus is also a cause of this global recession, the difference between this recession and 2008 recession is that that time only stock market collapsed but this time the manufacturing sector gets affected.

EFFECT OF THIS RECESSION

The effect of this recession is very bad and worse than the 2008 recession because as mention above in the year 2008 recession only affected the stock market but this time the recession affected the manufacturing sector a lot due to which all sector effected for example as manufacturing stopped due to which price of consumer goods get effected and it increases the prices due to which its consumption reduces and it affected all the sectors whether it is stock at the market or the service sector the combined GDP of all countries fell then it is a GLOBAL RECESSION like in today's scenario the global GDP falls from 0.4  in first then 0.6 %.



The one thing remember too that recession is not bad for everyone  as we know, 2008 recession help the china to beat America in the economy (not include the economy that generated from weapon ) and it is also a good chance to  beat or reach the same level of economy



  

                     

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