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Western Investors Set to Return to India, EMEs as Expert Predicts 'Multiple Recessions' in US, EU_我的网站

一 |     India and emerging market economies (EMEs) will gain “substantially,” reckoned experts, as Japan-based Nomura Holdings predicts “multiple recessions” for the world’s major economies over the next 12 months.,Nomura Holdings on Monday noted that the US, Eurozone, the UK, Japan, South Korea, Australia, and Canada will fall into recession amid tightening government policies and rising living costs.,“A recession in developed countries can result in heightened interest of Foreign Portfolio Investors towards emerging markets, including India, which is the fastest-growing major economy in the world”, Pranav Haldea, managing director of Prime Database, told Sputnik.,Haldea blames the US Fed rate hike aimed at controlling the rising living costs for the current capital outflow from emerging markets, saying interest rates in the US have a huge bearing on FPI flows.,Foreign investors dumped Indian shares worth $6.4 billion in June — the highest net outflow in over two years. Foreign investors withdrew $27.9 billion from Indian equities in the first six months of 2022.,“Once the current rate hike cycle shows signs of abating, FPIs shall again look at emerging markets with renewed interest”, Haldea reckoned.,Economists observe Fed missteps such as the delayed response to inflation, which the latter labeled “transitory” until March this year, hamper economic activity in the US. The US recorded 8.6 percent inflation in May, the highest in four decades.,Massive inflationary pressure is also hindering growth in European economies such as Germany, Spain, and France, which registered 7.6, 10, and 5.2 percent price rises in May, respectively. Inflation in the UK is running at 9.1 percent.,US Unlikely to Avoid Severe Recession if Fed Hikes Interest Rates Too Quickly to Cool Inflation2 July, 02:42 GMT,Economists warn of spreading high inflation beyond commodities to services items, rentals, and wages.,Nomura analysts Rob Subbaraman and Toh Si Ying wrote in a research note that there are increasing signs that the world economy is entering a “synchronized growth slowdown, meaning countries can no longer rely on a rebound in exports for growth”.,Professor Manoj Pant, a prominent economist and vice chancellor at the Indian Institute of Foreign Trade, said that emerging markets would also be affected by a decline in trade; still, some factors may lessen the impact.,“The factors which are operating in our favor are that the bulk of the buying consumers are located in India, and the current geopolitical situation means a lot of countries are looking at India not as a complete replacement, but as a possible third area apart from China and Vietnam”, Pant told Sputnik.,Nomura forecasts a prolonged recession in the United States and a much deeper slump in Europe if Russia entirely cuts off gas to the region.,Despite the global headwinds, the Indian economy is predicted to grow at 7.2 percent in the current fiscal, much higher than any other major global economy.,Experts advise Indian policymakers to capitalize on the structural changes that began in 2016-17 onwards but that were interrupted by the COVID-19 pandemic.,“The world is moving much more towards services than manufacturing. China’s boom was based on manufacturing, the services boom will have to be in India. So the question is how well we are able to take account of that. So depending on us, we can actually gain substantially, if we are ready”, Pant added.,However, Pant labeled the new forecast as a continuation of the 2019 recessions, as there has been no boom registered anywhere in the world since then.,China infuses immense hopes to all the developing economies, as economists bet on demand from the world's second-largest economy to mitigate negative impacts, even though they face slowing export demand from the US and Europe.。    NEW YORK -- A pro-Israel lawmaker in New York City was arrested Friday for bringing a handgun to a student demonstration supporting Palestinians.Inna Vernikov, a Republican member of the City Council, was seen in photos and videos with the butt of a pistol jutting out from her waistband while attending a student protest at Brooklyn College, according to the New York Police Department.She turned herself in on Friday morning, was charged with felony criminal possession of a weapon and released.Vernikov, who obtained a license last month to carry a concealed weapon, surrendered her firearm following the arrest, police said. Under New York law, licensed gun owners may not bring weapons to certain sensitive locations, including protests and school grounds. The state requires people licensed to carry handguns to keep them hidden from public view.Vernikov did not immediately respond to an emailed request for comment. The phone at her district office in Brooklyn rang unanswered Friday. A message left at her City Council office in Manhattan wasn't immediately returned.New York City’s public university system has seen a wave of dueling protests in recent days following the Hamas attack on Israel and escalating war in Gaza.Top elected officials, including New York City Mayor and New York Governor Kathy Hochul, have condemned the pro-Palestinian demonstrations, which they have labeled as a celebration of Hamas.The deepening tensions have also coincided with attacks, including at least two assaults on people holding Palestinian flags, according to New York police. A separate investigation has been launched into two young boys who allegedly pointed fake guns at a Brooklyn synagogue.Vernokiv, who is Jewish and grew up in Ukraine, has been among the most outspoken opponents of Palestinian activists, describing the protesters as “terrorists” while accusing them of making Jewish students feel unsafe.Nerdeen Kiswani, a Palestinian activist and CUNY law school graduate, said the lawmaker's actions were an extension of citywide rhetoric that dehumanizes Palestinian concerns and stifles dissent.“She falsely accuses us of being antisemitic then shows up to a rally brandishing a gun,” Kiswana added. “Who is really making us unsafe?”Vernikov will have to return to court at a later date.。

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