Publication Date
10-22-2022
Description
The Dynamics of the 21st century is clearly pointing out that despite the impulses of De globalization , protectionism and nationalism in the advanced countries the nations of the world are becoming increasingly dependent on each other. The three clear manifestation of the growing trends exhibited in the recent years are (1) Covid19 pandemic (2) Global warming and climate change (3) consequences of financial integration. The main purpose of this paper is to convey the message loud and clear that even a small part of the world economy such as rural Sindh cannot escape the wrath of the pandemics , global warming and other global public goods. Therefore we have to take into account the Global Megatrends in addition to scanning the National economic landscape and the provincial response capacity to assess the course of action to be adopted in the future. While Pakistan was fortunate in tackling the Covid-19 pandemic by minimizing the losses and providing cash assistance to over half of the population the worldwide effects were not favorable. Lockdowns in China and other countries resulted in supply bottlenecks and increase in price of commodities and shipping costs escalating the balance of payments problem of Pakistan .Higher values of imported goods and services also translated into higher domestic inflation hurting the poor and fixed income groups. Elevated global food and energy prices as well as trade restrictions imposed in response have contributed to food insecurity .A slowdown in the global economy has reduced the momentum in export growth , falling and stagnating remittances through official channels .Heightened uncertainty in the global markets caused by Monetary tightening in advanced economies have shifted investor sentiment and increased net capital outflows from developing countries.
Recommended Citation
Husain, I. (2022). Post-Pandemic and Post-Floods Rural Sindh Economy. Retrieved from https://ir.iba.edu.pk/faculty-research-talks-speeches/140
Notes
Key note address delivered at the International Conference on Business, Economics and Education Management held at Sukkur IBA University on October 22, 2022