People might be aware that some of the esteemed and largest organisations are laying off their employees left right and centre, are we heading into recession? Because I have seen my colleagues getting laid off and it's been months they are unable to find a job. Either we are heading towards recession or globally companies overhired the employees post COVID hence clearing the additional manpower. I am bit convinced that it's like recession sort of thing and not sure to over hiring. Share your thoughts on this crisis which has left a good amount of people without any work.
I think that in several countries a recession is currently occurring. And several other countries are also struggling to avoid recession. But I think after the inflation that occurred in previous years it will be quite difficult to avoid a recession in the end. We personally just have to be prepared for all the possibilities that could happen. So I have been preparing myself since the previous years. Because I saw that the potential for a recession was very large after hearing that the Central Bank had increased interest rates in previous years. Since then I started preparing myself. But now several countries are starting to recover economically. But the majority are still in a situation that is quite difficult. Because it seems like most people are trapped in a recession at the moment. But it seems that quite a lot of Asian countries can avoid the current recession.