Page 8 - Intl. Review (Draft 1.3)

SHIVAJI INTERNATIONAL REVIEW

A man on a rooftop looks at approaching flames as
the Springs fire continues to grow on May 3, 2013
near Camarillo, California. The wildfire has spread to
more than 18,000 acres on day two and is 20 percent
contained. (Photo by David McNew/Getty Images)

IF THE CLOCKS 105.27% pre-pandemic, to the

WITH TALKS OF A high of 125.46% post-pandem-
ic touching close to WW2 levels.
COULD RUN “GREAT RESET”, IS THE BEST With Raghuram Rajan tolling the
WAY FOR ECONOMIC
warning bells in so far as Mod-
RECOVERY REALLY JUST AS
BACKWARDS SIMPLE AS TURNING IT ern Monetary Theory’s limitless
OFF & ON AGAIN?
borrowing is concerned. One
thing that remains unanswered,
Short-form Article, what’s the best can we get for
Raghu R. Rathore our stimuli? Or is getting a bang
for our buck out of syllabus in
indsight is 2020. nomic downturn bearing down these times of staggering strife?
H Once upon a time the portcullis, it presses forth the Christening a new era

a cherished eu- onus, what will our great rehabil-
And to raise that very
Hphemism for retro- itative response be? And so far,
spection, now quickly evolving there’s no single right answer. question, along came the World
into psychic words of a see-all With Germany leading the Economic Forum, with a march-
soothsayer. It’s been a year- way ferrying a fiscal stimulus ing band spearheaded by Klaus
long reign of mortal terror, tu- purse weighing a whopping 33% Schwab and trumpeted along-
multuously triggering turmoil of its GDP, followed by Japan side by none other than his maj-
across the globe. But even with at 21.1%, the numbers are far esty, Prince of Wales Charles
the pestilence on one hand, the from petty (for comparison, the himself. Their shiny new ideation
other hand’s no closer to balmy highest 2008 global financial being the “Great Reset”. A fan-
than blight-some. Nation states crisis recovery stimulus topped tasticalization not far off from
across the globe have tempered off roughly around 3% on aver- Churchill’s ominous “Never let a
into eclectically motley marshes age). Running into the trillions good crisis go to waste”, a senti-
of disarray. Exacerbations to the and the billions, the financial ment that would signal the onset
tune of magnanimity, be it the leverage is steep, far too steep of the honorary United Nations.
wild wrath of climate change, or for comfort. On a global scale, Is the Great Reset of 2020 any-
the acrimonious awry of a pro- national debt as a percentage where near something of that
testing populace. 2020 has seen of GDP has risen by an astonish- ilk?
at all, and with looming eco- ing 20 percentage points from Let’s begin with the basics.

7 SPRING 2021