Impact of Recession

PREFACE

The recession which has hit to some degree almost every sector of manufacturing industries in the Western World has not left the chemical industry unscathed, but it has understandably led to a resurgence of interest in the phenomenon of catalysis. It is appreciated that new and better catalysts can reduce the energy input into chemical processes, improve product yields, minimize by-products, and hence lead to decreased process costs. The associated energy crises, and the geopolitical vulnerability of much of our crude oil supply, have focused attention on alternative raw materials for the petrochemicals industry, and for liquid fuels. The scope for innovative catalysis in this area is without limit, and the contents of the present volume reflect these potentialities.
The global financial and economic crisis keeps getting worse. The giant Citibank had to be bailed out with several hundred billion dollars in cash and guarantees from the US authorities. America reported job losses of more than 530,000, the biggest single month figure since 1974, taking the US unemployment rate to 6.7 percent, the highest in 15 years.
The US, Eurozone, UK and Japan are now officially in recession, in the sense of having experienced two successive quarters of negative growth. Several analysts predict that the rate of contraction of the US economy in this final quarter of 2008 may be at an astonishing annual rate of 4 to 5 percent.
Similar pessimism pervades the other two largest economies in the world: Europe and Japan. There is enormous uncertainty about the depth and duration of the current global recession. But the majority of expert opinion now concedes a substantial likelihood that this will be the worst recession since the Great Depression of the 1930s.
I have tried to bring a light on Recession and its impact on India and world as a whole, and Detailed explanation about the Causes and effects of recession. In the end of this project I have tried to suggest with... [continues]

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