Welcome to the 1st work week of the year =)
Positive outlook has well been projected for every sector. But, there might still be minor glitches ahead. Slowly, yet surely, all have been improving in the last quarter of 2009.
Although, the economy has shown vital signs of recovering, but things are not getting cheaper anytime sooner. The oil price continues to escalate after fluctuating in the last few months, but not as menancing as in 2008. While the United States is on the verge trying to better manage their debts, Japan has only came out from recession just recently.
As the world is on par mending its economy, businesses and banks are still trying to revive, restructure the old and unfashionable way of doing business. There will still be job losses and unemployments, which are something that can never be avoided.
In 2007, just before the crisis struck, I wrote these statements below:
"Personally, I shall not indulge into making major financial commitments at the moment. I believe, the next 2 years (2008-2009) will be a testing time. If we could survive after 2009, then I'll make another prediction" - mohdzuraini.blog.co.uk
Looking back at what happened in 2008-2009, most of the things I have sized up truly has occured. Although, things are now improving slowly, but it will not rebound to the state when it was once before.
I met a business friend from India recently. I may not be a seasonal economist, but we've been talking about the world market and how the economy is riding. Interestingly, what he foresee, the world would be facing another distress sooner this year.
Due to global warming and harsh weather outlooks, many rice producing nation will be greatly affected.
India, the world largest crops producer will stop exporting rice into the world market. Being the largest nation in rice exports, India's absence in the world market will affect the rice consuming nations significantly.
Looking at the rising price of raw sugar now, rice will come under scrutiny when there is low in supply and higher in demand. Thus, a price hike for this comodity is inevitable.
Let's be cautious for the next 3 months. Give a little breathing space for the economy, before we can splurge heavily on something that we ought to save for the future.
Happy New Year and best wishes to all. =)
ps: I was too sick to blog for the last few days.
Soul: Time For Miracles (Adam Lambert)
