Recent price hike and its impact on society.
As I mentioned in my previous article that I will write about the price hike today, I am here to fulfill that promise. Hi there. I am glad to see that Rusty didn’t forget me in the two weeks. Rusty has visited the article that I published yesterday. Which encouraged me to write further.
Anyway Let's get into the point. Price hiking.
What is this actually? Simply speaking, price hiking is the incretion of prices of products. When does it become a problem? Basically when prices of Every product, from daily necessary products to luxurious products, increases then it becomes a problem.
Are we facing anything like that in contemporary situations? Yes we are. Prices of every product are rising unevenly. It is happening mostly in third world countries where the poverty rate is the most.
Why is the world facing a situation like this?
As a student of social Science I can say it is happening for two reasons. Firstly, we faced a pandemic which lasted for years. And after the pandemic a big war began, Ukraine-Russia war.
From the beginning of 2020 the world has fallen into a situation like everyone was in constant fear. We faced the deaths of millions of people. Lockdown, shutdown processes continued for two years. Industries were called off. Even agricultural production was being hampered. Mainly, export import was impossible at one point. Because countries are posing restrictions to other countries in immigration. For our country, Bangladesh, immigration has remained closed for a long time. And by this time import export process has hampered a lot for our country.
Basically our country depends on the garment industry and remittances for its economy. But as it was a pandemic situation, industries couldn’t be able to mobilize their labour and production processes were hampered. Which created some impactful consequences for us.
Then comes the Ukraine -Russia war. On 24 February 2022, this war broke out and is still running. I have an opinion or statement about war, that is, nothing can justify a war. War can only create heavy losses, nothing else. In Ukraine there is a huge destruction. Human rights have been violated for months after months. It should be stopped now. Otherwise the world will face some bigger problems.
How has the Ukraine-Russia war produced a world crisis?
Ukraine and Russia are the two most food producing states in the world. We have even read in the book that Ukraine is called the basket of bread of the world. Ukraine and Russia produce the capital portion of wheat of the world. They fulfill the demands of various countries' foods. Not only that they are also the chief supplier of natural gas and oil. Especially Russia. And when these two countries are in a war everything has become unstable. Price of oil and gas has risen. Food price and a shortage of food is facing poor countries worldwide.
Let me give an example to explain the matter. Before the Ukraine-Russia war the price of the dollar was 84 taka in our currency. A few days ago the price rose to 112 taka and now it is 95. You can Understand the level of inflation in recent times.
The price of petroleum was 86 taka in our country but now it is 134 taka. Price of everything has risen. The impact of war is showing in the market very roughly. People are getting disappointed in third world countries and even in first world countries. Life is becoming hard.
If the war continues for another six month then the world will face a bigger food crisis, I think. And it has also been said by various scholars. World leaders and the United Nations should take necessary steps to solve this problem.
I just think one thing is that a heavy pandemic has gone but the world hasn’t integrated. Our brotherhood didn’t form. Before becoming a Russian or Ukrainian we are human beings. We need to build up this sense. May the world recover again and we get good weather to live in.
Today i have captured two photos. Let me show you.
In the end i will say may love prevail in the world. Have a good day. Thanks for reading my article.