Any new year comes of with new hopes and the exuberant people becomes jubilant with the new resolution dominated by new aspirations and new spirit. The year 2009 signals the end of a very traditional era and starts with bountiful problems.
The recent economic meltdown has already cast its disastrous spell in various facets of life and its far reaching tentacles will surely horrify people in 2009.
The GDP of most of the countries have become down faced, a downturn in other economic parameters have been noticed all over the world. Banks, Credit Cards and all financial institutions have started tightening their funds from free flow like earlier and companies have started opting for mass scale termination. The individuals and even small enterprises have become highly cautious about their expenses.
Reserve Banks have started controlling the interest rates, liberalization in other fronts have already been started to save the people from biting the dust. US government and government of various countries have come up with huge amount of investment to rescue the leaders in the industry to create a balance.
Everybody has started pursuing policies that enable them to be better integrated with the global situation.
Its the time when the authorities have to earn trust of the investors to keep the show running as nobody can deny the advantages of globalization and everybody has to be in the race to leapfrog in development process.