Are there any potential benefits that can arise from inflation, recession, or economic downturns? As they say, necessity is the mother of invention. We see an example when people in a country are faced with very imports duty that individuals there become inspired to establish local businesses and initiate domestic production and start consuming locally as an alternative to imported goods. While this approach might prove successful in certain countries, others may encounter obstacles such as high operating costs and countless taxes on startups. This is a challenge that discourages local production. Despite these challenges, do you think there are still opportunities during economic downturns?
If that is what is meant in relation to food then not all countries have land to grow basic necessities so inevitably these countries are forced to buy export goods from outside. When inflation or recession occurs, the basic needs sector has the greatest impact because this concerns needs that must be met and if a particular country does not have sufficient agricultural land then they will definitely have to buy export goods from outside. This impact is said to affect society because when talking about inflation and recession, there are many sectors that are experiencing problems.
Opportunities remain whether done independently or from the government because they are the ones in power who can reduce the impact of the risk of inflation and recession as a whole. The government must have a strategy to overcome this problem and usually every government has taken into account the basic needs that must be prepared in the market and in old storage places so that people do not feel the impact of this incident.