As we know that Elon Musk is the richest person in the world but still he is worrying about the next coming world wide secession problems. First of all I would like to introduce about secession, what is secession and how does it come?
What is secession?
If any country's Gross Domestic Product (GDP) falls continuously till two quarter or half yearly then occur economic secession. Because of less (GDP) Global economy continuously slowdown and create the different types of problems.
Elon Musk showing concern about the world economic problems. There are many countries which are facing such types of problems day by day. Specially he observed the US country which is a developed country yet their (GDP) rate is falling down every day.
There are some major factors through which secession is growing day by day-
(I). Inflation rate hike :- Today we can see in the all over world, how inflation rate is increasing per day. Which things we used to get in less price earlier, that same product price suddenly became double. Ex- Mustard oil 1kg rate was 110/- around earlier, now we will get it around 200/- per kg. Like that so many things are there which prices are increased. Main reason is to increase this problem is less production and more consumption is there.
(II). Corona Pandemic :- Because of corona pandemic people or world came 5 years back. In this incident people have lost many things in their life. Many countries spent lots of money for recovery of their own country and people. Because of that their (GDP) rate came dawn and again now we can see secession in many countries.
(III). Russia-Ukrain War :- This war changes many things in the world. Many countries are facing many problems because of this war. Some stopped their business or trade from this country. Because of that many challenges came and economic imbalances happened.
