India in crosswinds: US sneeze, Chinese cough, and global shivers
India in crosswinds: US sneeze, Chinese cough, and global shivers
Swaminathan S Anklesaria Aiyar
Updated: May 3, 2025, 21:40 IST
The uncertainty created by Trump is guaranteed to slow world growth. India cannot escape the consequences even though it will be less hard hit than others.
Some analysts feel that a US recession has already begun. There is an old saying, when the US catches cold, the rest of the world sneezes. Can you see Indians reaching for their handkerchiefs?
Quarterly GDP growth in the US fell by 0.3% in the first quarter, Jan-March. A recession is widely defined in the US as a fall in GDP for two successive quarters. The National Bureau of Economic Research, which delivers the final verdict, adds another condition — economic activity must be affected substantially. That verdict will take many months more to be delivered. But the signs are unfavourable.
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