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Development bears true value only when it integrates the incremental growth of all sectors of society, not only serving those who drive it, but expanding to the reach of those who have faced the brunt of neglect since time immemorial. The Business and Industries council strives to achieve this balance of economic prosperity which ensures that every stakeholder is an ardent contributor to the monetary policies which affect the world as a giant, interconnected economic network.
The council expects delegates to innovate and engineer solutions, considering the social, political, and most crucially, economical aspects of policies that affect the global supply chain, and aim towards harbouring a global coalition. In this year's edition of Youth Global Solutions Summit, the Business and Industries council aims to counter imminent damage of the cost-of-living crisis, while dealing with the implications of the scarcity of the US dollar. Uncontrolled proliferation of inflation, accelerated by the ongoing international conflict, coupled with the lowest growth profile since 2001, has posed innumerable challenges for consumers at all levels. Since the availability of the dollar reserve currency mediates stability to domestic production and strength of other currencies, the fluctuation of its availability in recent times has raised concerns over increased price of basic commodities in fields such as education, healthcare etc. This disruption in primary production has impacted business continuity and stability. As the Federal Reserve System marked the hiking of interest rates as an attempt of attenuating global recession, the economic disbalance of countries with a limited dollar reserve, ultimately led to geopolitical vulnerability.
As nations stand in dire need of fiscal intervention, this subject persists as a looming threat to global industrial stability, and the exigency of global unison in minimising the factors contributing to this problem is now more than ever. This global cohesion can only be achieved through effective legislation, which incorporates local and international public interest, and sparks room for competitive opportunity. |
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Khyati Saxena |
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