The American recession
The global slowdown in economical progression is understood to have been caused by American recession. Well, most of developing countries on this planet depend much on American economy. After all America is the biggest importer of goods and service. What caused American recession is a matter of great debate these days. Recently I found some interesting reports hitting the headlines of some leading dailies. While surfing the net I stumbled across a site worldpress.com where renowned economist Prieu Du Pleissis blamed four factors for this development. They sound the same what most of the experts diagnosed. First of all , the slowdown in US economy though drawing attention in recent months but it started in no less than six years ago. The wages in US is traditionally high. There a taxi driver earns about $250 per day. Where as in India they earn in terms of USD about $5-6 only! Here is the key for the reason why US heavily has to depend on outsourcing. To remain competitive, most of the...