The International Monetary Fund expects the global economy to shrink by 4.4% in 2020, compared to less than 1% during the global financial crisis of 2008-09. India, till recently the world’s fastest growing major economy, has had the steepest fall among large economies. Unlike the US, India’s democratic institutions have also so far shown little resilience in the face of rising populism. While different groups may harbour a sense of historical wrong, raking up the past to poison the present is not the way forward. May this festive season bring joy and the New Year renewed hope for a better world.

Source: Mint December 24, 2020 15:56 UTC