In an interview given to Financial Times, Zoellick said that it was indeed difficult to see US consumers trying to assume similar role as “demand drivers” that they had in earlier recoveries as they have to pay of their debts as well as improve their finances.

Said Zoellick in the interview which was given before his present visit to India, “The US consumer has to deleverage and has to rebuild savings,” he said. “This is one of the opportunities for Asia’s larger role in the recovery” in supplying more sources of demand, said Zoellick.

The World Bank president looked at China, India as well as other economies of Asia as the new engines of the present global progress against the existing backdrop of several developed nations that are still emerging from the recession.

Zoellick also says that in case employment remains in the US above 10% next year “you are going to see feedback effects,” “It’s going to increase delinquency for credit card debt, for consumer loans, in the US some commercial real estate is quite soft and that’s going to flow back into the banking system.” he warned.

” You will see some financial institutions doing very well but if they are dealing with the consumer retail market they will continue to be hit by those losses”, he said. He added that the world was awash with liquidity and that this posed a challenge to central bankers to some East Asian countries.”

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There has been considerable criticism about the approach of Google from several media publishers in particular the chairman of News Corp as well chief executive Rupert Murdoch who argue the company was making profits from its online news based pages.

The senior business product manager of Google in a blog write up said that the company had been updating its “First Click Free” program so that publishers could limit the users from viewing no more than five articles in a day without registering or even subscribing. Earlier every click of the user of the search of Google would be treated free.

Says Cohen, “If you’re a Google user, this means that you may start to see a registration page after you’ve clicked through to more than five articles on the website of publisher using “First Click Free” in a day, while allowing publishers to focus on potential subscribers who are accessing a lot of their content on a regular basis.”

At news conference Murdoch said that the media companies should be charging for the content and must stop news aggregators like the Google from “feeding off the hard-earned efforts and investments of others”

Many viewers so far have been using the Google search engine to get their information. In fact world over it is a very useful source of information.

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Recession has been tough time for many countries both developed as well as developing. The US has had its fair share of setbacks and India and China are fast recovering from this difficult economic situation. All these countries had to brave it up. Unemployment was rampant, and prices soared, and purchasing power of the people came down. Those who lost their jobs were virtually on the streets. It is a precarious situation to be in.

How has recession affected US, China and India?
Recession did impact countries in the same manner. Industrial production got a setback, less investments, unemployment, unstable market conditions. Yet the impact did vary from country to country as the recovery variations made them stand out from each other.
The United States, which as always remained a super power is now economically struggling and the dollar standing is being threatened. China and India are emerging as economic and political forces that US seems to recognize as being future contenders for the hegemony in world and economic spheres.

Recently in a meeting with Indian Prime Minister, Dr. Manmohan Singh, the US President, Barack Obama said that both China as well as India would be playing a “pivotal role” in future challenges facing the world. In fact, Obama even visited China and also is planning a visit to India in 2010.

The impact of recession on the US economy has been pretty bad. The US is taking time to recover and many observers feel that perhaps US may not be all that powerful in the years to come in world politics. It may have to share its global power with China as well as India.

The dollar has had a set back of late. It is weakening. India recently took a decision to buy gold from International Monetary Fund (IMF) to the tune of $6.7 billion which has surprised many world powers. Of course, Dr. Singh reassured US that would continue to retain its global hegemony.

The recent parley between the leaders of US, China and India, each having bilateral talks with each other was primarily aimed at discussing economic and political issues concerning the respective countries. India, of course, does feel a bit threatened by US paying more attention to China, but Obama assured the Indian Prime Minister that India would not in any way be ignored by it.

It is quite evident that US, china and India would meet more often n common issues and that US has recognized the potential of China as well as India as would- be world powers in the Asian region.

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The levels of economic development do vary among the developing countries so there cannot be a prescribed criteria for deciding which countries are in the developing stage. Compared to the developed counties they are far behind in technological and other sectors.

The World Bank defines low as well as middle income countries as “developing”. Much would depend upon how much Gross National Product (GNP) they generate.

What are the facets of developing economy?

• Economically backward – The developing countries are economically poor and are unable to feed their population or meet their daily requirements of food, shelter and good health.
• Low per capita income – The per capita income is very low. The purchasing power of the people is very low. They are unable to buy good clothes and have better standard of living for themselves.
• Lower levels of national income – The national income levels are also low. The earnings earned from various sectors are not very high.
• Technologically backward – The technical know-how is not very advanced as compared to developed countries. Of course, countries such as India are making much advance in this sphere of activity also, yet it has a long way to go.
• High rate of population growth – Developing countries have a high population on account of which their economic growth is slower. They have to feed more people when compared to developed countries, which have lower levels of population.
• Poverty – There are large number of poor people living in these developing countries on account of the hugh population. Some of them live in abject poverty.
• Lower levels of investment – Industrial growth is at slower pace and level of investment is not very high in developing countries.
• Dependent on foreign aid – The developing countries receive international aid from developed countries to improve their economic conditions.They succumb to the domination of the developed countries.
• Inflation – Inflation rate is high in these countries. Since economic growth is slow and the general production output is also not very high, goods and service are available at a higher cost.

The developing countries or economies have too much to achieve in the sphere of industrial and agriculture sphere. They have to make tremendous efforts to feed their millions of people.

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China is making much growth in the economic sphere. In the Third World, China is expected to stand tall in the coming future. It will be a force to reckon with in world politics. Even the U.S. recognizes its potentiality.

Growth of Chinese manufacturing sector
The manufacturing sector expanded very rapidly at a fast rate within a span of 18 months according to survey. The economists also predict that the growth will be sustained. In October the manufacturing sector of China rose to about 55.2 %, up by about 0.9 per from the previous month. This was highlighted by China Federation of Logistics and Purchasing (CFLP).

The index was of course higher about 0.6 points higher than the number in September, when the PMI had increased by only 0.3 % points to 54.3 per cent. In fact, it was 8th month in row that the PMI reading that stayed above 50.

Above 50 reading implies expansion, whereas one below means contraction. The PMI includes an indices package that helps in measuring performance.

The survey which was conducted by the National Bureau of Statistics (NBS) also covers supply as well as purchasing managers in more than about 700 firms across China. PMI was launched by CFLP in 2005.

In October, the production index within PMI reached 59.3 percent, which is the highest level since last May.

The third largest economy, the Chinese economy in on a path of meeting Government target of 8.0 growth in this year of 2009. The National Bureau of Statistics has shown a growth of 8.9 %, which happens to be the fastest quarterly growth within a year.

The Gross Domestic Product of China grew by 7.7% in the initial 9 months of 2009 as compared to the same time last year according to data available.

China is indeed on its way to becoming a powerful nation, both strategically as well as economically. It is a nation which has stood on its own merit and is very proud of it.

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The question that arises is will memories of recession linger on or be forgotten.
In some countries the culture thought processes are such that they tend to forget the past and make a fresh beginning. In some countries, particularly those which happen to be based upon consumerism may find it difficult to forget things so easily.

Why recession memories remain?
With million being thrown out of jobs and having nothing to survive upon except unemployment dole, naturally the memories of such sudden fall in income levels cannot be forgotten so easily. Many of those affected had families to support and had to make drastic adjustments in the life-styles. In the US many were rendered homeless as they could not pay up the mortgage.

In India also many become unemployed and recession caused much setback to many. Purchasing power declined and retailers were not able to sell many goods. Income levels came down drastically as well as the standard of living. Naturally, it is no doubt a traumatic experience, which cannot be forgotten so easily.

Memories will remain, but once the economy is on rails again and the purchasing power of the people goes up then they may not let the memories of recession haunt them. Events are forgotten and they become past events of history.

Those affected will of course feel the bitterness as naturally for them it was a tough time. Losing a job can cause much stress. Thrown onto the streets cam be traumatic. For most it is their bread and butter. They have to take care of their families. It could be very demoralizing not being able to earn. Many experienced depression and such psychological setbacks cannot be forgotten.

Recession is something that shall be part of history and will remain in the memories of the present generation, who have been victims of it.

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The United States and earlier the United Kingdom dictated terms to the less fortunate countries. They, of course, manipulated the world’s natural resources to their benefit. Great Britain took away many of the natural resources from India and built its industries. The white supremacy prevailed.

Now the scenario is different. Even the Asian countries are asserting themselves and are trying their maximum best to make considerable contribution to the world economic growth.

What is Asian Factor?
China and India are emerging as strong contenders for economic power in the world economy. No doubt, their rapid population growth is hampering their growth, but they are making headway in many technological spheres.

Today, China is on its way to becoming a superpower in its own right. India is not far behind. The West has realized the potential of both the countries to contribute to the world economy. Unlike India, China is less influenced by the Western culture. It retains its distinct cultural ethos. Being a communist country, it is definitely at loggerheads with democratic nations such as USA.

Both China and India are taking advantage of the Western technological innovations and are not averse to receiving their technical know-how and expertise. But yet they do not want to be dictated terms to. They prefer to stand on their own feet and develop indigenous products which have the potential to sell abroad as well.

India always suffered from “brain drain”. Many of its technocrats go off to the West for greener pastures. Unless and until it strengthens its local technical infrastructure, it will lose out on talented people.

Will China and India prove better than the West?
It is difficult to say now whether China and India will beat US and other European countries at their game; nevertheless, the West sees both these countries as potential rivals. Both are making much progress economically. They need of course to control their population. In India wealth has to be distributed equitably as the gap between the rich and the poor is widening. It is difficult to tell what exactly is happening in China as it is a closed society. But in the future it will be force to reckon with in world politics.

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What has recession meant to all of us?
Recession has, no doubt, taught us all to understand and appreciate hardships that many millions all over the world face otherwise. It was easy for most people prior to the recession. They had the money to buy luxury goods and lead comfortable life. Perhaps they never visualized that they would have to count their pennies.

For many people in the underdeveloped and developing world recession perhaps did not mean a thing as they always lived in abject poverty. It is mostly the developed countries like the US were hit very hard. Of course what happens in the US economy does have its impact on the world economy. Even in India, times were tough. Many were thrown out of their jobs. There was slump in the market as the purchasing power of the people came down.

Victims of recession suffered from depression and some even committed suicide as they were unable to face the financial crisis in their lives.

What has recession taught us?
It is quite obvious that people need now need to be careful with their spending habits. They should not take things for granted. Simplicity should be given preference. Consumerism is definitely unpredictable in case the economy goes awry.

Consumers yet will continue to behave as they are. Once the economy improves and their purchasing power also improves they will start spending again. People tend to forget past experiences and feel that it was only a bad phase.

Can recession occur again?
Undoubtedly this is a phenomenon that world at times experiences. When it strikes we do not know but it does strike. The lucky ones survive it and those who are unlucky bear the brunt.

By beginning of next year it is hoped that the world economy scenario will change. Slowly, recession will be forgotten and those looking out for employment will be able to fetch a good and decent job for themselves. Memories will remain.

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Why does poverty exist?
Poverty is indeed a curse. People suffering from it are unable to meet their basic needs of food, clothing and shelter as well as medical help. They experience hunger and are unable to change their circumstances as they remain in a vicious cycle which is difficult to be undone.

Lopsided economic development within a country and neglect of dealing with economic backwardness has led to poverty. Over population is another cause. Several developing and under developed countries do not pursue economic policies rigorously to eradicate poverty.

How can poverty be tackled?

• Policies to eradicate poverty must be pursued rigorously.
• Population growth must be controlled.
• Equitable distribution of wealth within the country as well as within nations.
• Education for all.
• Employment opportunity for both literate as illiterate people.
• Subsidies.

Why is poverty a curse?
Poverty is a curse as many people are poor and are unable to meet both their ends. They are unable to survive even on bare minimum. Many people remain hungry as they are food needs are not met. Their purchasing power is nil and they cannot purchase food, shelter and clothing.

Malnutrition is very common among the masses and disease spreads quickly. Medical facilities are almost nil or not up to the standard. Most children are deprived of education and are forced to work in appalling conditions. Unemployment results in poverty. Work opportunities are minimal. Daily wager earners do not find work.

Poverty restricts the growth of the individual. He or she who is living in abject poverty cannot contribute to the society in any way. He or she is a burden on society. It is not his fault though. The respective Government has failed to provide adequate facilities for his mental and physical growth.

Much needs to be done by the respective Governments to eradicate poverty. The progress of a country depends upon what comforts are provided by the respective Governments to their people. Poverty can be completely eradicated in case the right economic measures are adopted.

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Essentials of Guerrilla Marketing

1. Commitment – One must realize that mediocre marketing program accompanied with commitment will prove to be a better proposition as compared to extra ordinary marketing program which has no commitment. Commitment obviously culminates in results.
2. Consistent – In case you happen to keep changing your marketing, identity and media too frequently than you lose out on trust. One must remain consistent in order for people to repose trust in you. Repetition and restrain are important aspects of guerrilla marketing.
3. Investment – The right kind of investment must be done. Investment cannot be treated as expenditure.
4. Patience – The marketing person has to be very patient in order for others to repose trust in him. He or she will be able to be committed as well.
5. Assortment – Various types of marketing tools must be used in order to get results through guerrilla marketing.
6. Cooperation – A person following guerrilla marketing must not compete with other businesses but cooperate with them.
7. Involvement – The marketing person must have relationship with his or customer. There should be mutual respect for each other.
8. Measurement – One has to measure the results, then only one will know what one has achieved.
9. Augment – Promote you activities both online and offline.
10. Implementation – One must implement the guerilla concepts in order to attain results.

Guerrilla marketing is worth a try. Any entrepreneur wants to be successful and naturally these guerrilla techniques will provide tremendous results in terms of better output.

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