The world faces a definite economic crisis .It is so hard to get over the situtation. The people and nations were literally competing each other to spend money.A set back was sure for the luxury and extravagance.It's a natural phenomenon.

The nations were on a huge purchase of modern weapons and bombs.People also buy gold and diamonds and keep them.Though they are very valuable,it is dead money.Many wasted their money on real estates while many others lost their way in share market.Some spent a lot of money to buy luxurious cars,flats and villas.Man forgot about two important sectors- Industry and Agriculture.During pre-renaissance and renaissance period,these sectors were given immense importance and hence we earned a lot for years.When people started neglecting all these factors,there started a gradual economic instability all over. Even the great powers like America,France,Russia,China and Germany struggle hard to find a way out.

Food crisis is a direct result due to decline in cultivation.Banks and financial institutions in America and other capitalist countries collapse;but we can not also relax and enjoy.India may also face such a threat in future.However,it is incredible that India is still able to check a great disaster.The main reason may be that most Indians have their deposits and investments in India.The other fact is that we all love our country and stand together in times of crisis.Our culture and heritage is so rich.But many countries like Russia,China,Pakistan and Korea are not having an intense feeling of unity and integrity.

A tax-free India is our dream.A developed India is our goal.Our economy should have a solid basis.The black money should be converted as white money.The unauthorised and illegal money should be collected in banks and can be used for various development programmes especially in villages.Jobs can be offered also in villages.The cities and towns will be more clean and unpolluted.The youth will be well settled and engaged and different mafias and terrorist activites will also be stopped once and for all.

Some realistic and practicable ideas have been put forwarded before you.If put into practise,the earth will be a much safer and happier place to live

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New Waves in World Economy.[Forecasting and devices]