A strong country is soon going to move towards poverty. | Recession in Britain.

Is a strong country soon heading towards poverty?

The country and the world are moving towards economic recession. The clouds of the financial crisis are hovering all around. This is a disease from which no one can remain untouched. That is, if one country is affected, then it will affect the countries around the world. Right now the disease is going to spreading everywhere because a strong country is soon moving towards poverty. 

Which country is that now, and what is the condition of that country? We are going to tell you in this article. The UK is going through its worst phase these days. Britain's economy is witnessing the biggest decline not in 100 to 200 years, but in 300 years. The Office for National Statistics has released the figures saying that there was a big decline of 11% in UK GDP in the year 2020. It is being told that such a decline was seen in Britain in the year 1709.

That is, Britain has reached the same stage today as it was in the situation three decades ago. So you must be thinking that Britain had ruled India for many years. They had made India very poor with a golden bird. Then how that country is facing the tough situation today? So the result of all things is that not all days are the same. There are many reasons for this situation in the UK. Today we will try to explain to you all the reasons one by one.

What is the reason behind the recession that started in Britain?

The first reason is Germany. You must be thinking, where did Germany come from now and how Germany is responsible for this situation, so let us tell you. Germany is one of the largest economies in Europe, but the gas crisis here is getting worse due to the Russia-Ukraine war. If there is only one crisis here that is understood, there are a lot of troubles here. The whole of Britain is suffering from severe heat and drought at this time. 

Here the rivers are drying up, and trade is also being affected by this. Due to the lack of water in the England Waterway, the movement of ships has also stopped. That is, the supply chain crisis is at its peak. This has dealt a blow to Germany's most important manufacturing sector, as there is a fear of the collapse of the entire business structure due to an interruption in gas supply. These mainly include aluminum, lead, and chemical industries.

Now there is going to be a decline in the industrial output of the country and a disaster in jobs. Now that there is no gas in Germany, there is bound to be an energy crisis. People have to pay more for energy to use at home in Germany. On the other hand, they have to be charged for carbon dioxide emissions separately. So the day is not far away when social and economic unrest will start happening across Europe from the double whammy. 

Now let's look at the second reason for derailing Britain's economy. Europe was completely devastated by the covid-19 pandemic. Many people had lost their lives. This also had a profound effect on Britain's workforce. Today, the situation is such that the UK workforce has decreased by 1.2% since corona. The decline in the workforce has increased so much that we tell you by comparing it with America, and Japan.

There was a 1% reduction in the workforce in Japan. Whereas in America it was 0.3%. Whereas in France and Canada he remained in the workforce plus. That is, there was an increase in the number of people working here. The impact of Brexit is also not allowing Britain to recover. Britain does not like getting out of Brexit. 

Britain's Fed has been down from 2017 to 2021. It has declined by 8% since 2019. Britain has lagged behind America, France, Germany, Spain, Italy, and Japan in terms of trade. Now talking about the productivity of Britain, it has decreased by about 20% from France to Germany. Now that productivity is declining, investment in Britain has also stopped.

Due to the stoppage of the supply chain, getting essential goods has also become difficult. There is a waiting period of six months for many products. Let us tell you that Britain imports its food and drink items from abroad. The UK is ahead in terms of imports. That is, the UK imports 50% of the total requirement, so overall the situation is very worrying.

Common people are thinking about running their job, and homes. With UK inflation going into two digits, it is becoming difficult to manage daily expenses, and the number of loan defaulters is also increasing. There is also a possibility of the system collapsing due to this. Now it has to be seen how and when this problem gives relief to the common people and the whole world.

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