Assalamualaikum my friends.How are you all my sweet friends?.Hope everyone is well and hale. Today I am here to take part in a nice contest that was presented to us by @ripon0630 brother. I really liked the theme of his contest and that is "Your Thoughts On The Global Recession." This is a wonderful contest and I am very excited to take part in the contest. Before start the main topic of the contest, I want to give him a big thanks for organized such a beautiful contest.

Do you think we will face a global recession in the coming years? Based on what factors have you confirmed that there may be a global recession?

Yes, I definitely think we could go into a global recession in the near future. It is not unusual but a very scary time and disaster can happen to us. And if that happens, it will have a devastating effect on our middle-income countries. As we can easily get this disease and it takes a long time to recover. Similarly, our global recession is not difficult. But getting rid of it is very difficult. Below are some of the global recessionary factors that play a particular role in recession:

Trade tensions:

Trade tension is one of the reasons for the global recession. Disputes between the world's countries over trade policies can reduce international trade and investment, leading to a global recession.

Economic imbalances

Investors of all countries have a substantial role to play in maintaining the economic balance of the world.But large trade deficits, high levels of debt and other economic imbalances can also lead to recessions.

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Natural disasters:

And natural disasters often play a role in global recession. Major natural disasters, such as earthquakes or hurricanes, can damage infrastructure, which can cause economic disruption. The recent earthquake in Turkey has killed more than 40,000 people and destroyed almost all the country's resources.

Pandemics:

A few days ago we were introduced to a terrible epidemic, the effects of which we have not yet overcome and whose effects are still present. This pandemic has caused our global recession. A future pandemic like this or a bigger one could certainly have global recessionary effects.

How do you think the global recession will affect the job market, and what skills and qualities will be most in demand in the future?

I think the global recession could have a significant impact on the job market, causing companies and various organizations to reduce their hiring. It can also lay off employees, or make them work with reduced or no pay to cut costs. And all the benefits that were given earlier may be stopped.

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In the future, skills involving technology, problem solving, communication and adaptability will be in high demand. People who can work with computers or understand data related work and can use technology to solve different types of problems will be valuable in future. Ability to communicate well and work effectively in a team as well as being able to learn and adapt quickly to new situations. Being creative and having an entrepreneurial mindset will play a very important role. Because more businesses and industries will become automated and more modern in the future. And this time will depend on innovation to stay competitive so we need to be modern and have a detailed understanding of technology.

What lessons can be learned from past global recessions, and how can these be applied to better prepare for future economic downturns?

The world has repeatedly experienced the effects of global recession and people have gradually overcome it. However, the current situation in the world may put us into recession again. So we can learn a lot from past recessions to survive this recession.Because the recession we went through in the past due to covid was a very scary experience for us. From the past we can learn that it is important to have policies and plans to help businesses and individuals affected by the recession. This can include things like providing financial support to businesses and workers, creating job training to help workers learn new skills. As a result, they will be able to use the training and skills they acquired during the recession to deal with and survive the recession.

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Besides, we can prevent global recession in another way and that is by monitoring economic indicators and responding quickly to signs of recession. At this time it is important to look at things like adjusting interest rates or fiscal policy to stimulate our economy and prevent a deep recession. Besides, during recession, the price of vegetable raw material increases excessively due to which all the people are in trouble. So countries that are involved in agriculture can counter this recession by improving the agricultural sector.

Do you have any prior preparation? What are they?

If you want to hear from me whether I have prepared for this recession or not, I would say yes. There are some preparations which will definitely help you during this recession. The senior officials of our country i.e. the government have already taken various measures to protect the country from the effects of recession. And besides, if you or I want to fight this recession, we must first be frugal. Do not supply or waste more than necessary. Helping in government work and do not tolerate corruption. And if you want to buy some assets such as jewelry or land that will help you personally in this danger.Also giving priority to all of us modern agriculture work and encouraging everyone in this work that will help everyone personally to survive this recession.

That was my today’s presentation for the contest. Hope everyone enjoyed my today's article. For this excellent competition, I would like to invite @arshani , @m-fdo and @nishadi89.

Best Regards
@enamul17

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