It is really appreciative of you that as a blogger you have thought to write about the effect of the economic recession on the third world countries. It is true that America and other rich countries can handle this situation but is it really tough for third world countries.
Yes, I am agreeing with you. After reading your article, it is very clear to understand that Nepal has to depend on other countries for their development. There economy is not independent. Whatever you have referred about economic sectors of Nepal, are dependent on India and other countries. So, it is really bad luck for Nepal that in this condition they are the victims of this situation. In the end of the day, though they got the democracy, unfortunately they are not able to use it properly.
I hope that their governmental would concentrate on developing their economic sectors and try to build a process by which they could be independent on financial way.
Today, I was checking out ekantipur.com, one of the leading newspapers in Nepal and there was a picture of a boatman tying up boats on Phewa lake. In this time of the year, tourist used to come to Nepal but this year, the number has decreased. Tourism is one of the major foreign currency earners for Nepal and it is already suffering due to worldwide economic recession. Already, the tourism sector took a big blow in the past years due to the country’s political instability. Though there is stability now, it has been hit by economic recession.
Thank you for your nice analysis about the possible imapct of current economic slowdown on a coutnry like Nepal, a country which very often remains in the dark in the media.
It is good that Nepal has a better political situation at this moment, but still they have trade deficit which means they have to rely on foreign aids. If the economic recession continues, then the situation may aggravate in Nepal too. So, it would be better if then can try to develop thier economy by increasing the domestic production inside the country.
Nepal is a nice country for traveling. It has beautiful sight view. Millions of people go to Nepal to visit every year. Tourism keeps important role for earning huge foreign revenue. Most of the people of this country live under poverty. However, I have to admit that we are very much serious about the affect of economic recession in developed countries. But only a few people like you thought about the third world country. Nepal is suffering a lot due to economic recession. It is not known that when this problem will be solved. The fate of the third world country is either directly or indirectly depending on developed country. What kind of solution do you want to give these countries to protest this problem?