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2012 THAT WAS
Another year passed. And along with it, another set of memories – good, bad and ugly. Here are the ten major happenings in the past 12 months. This is NOT a top ten list. It is but just a list! Here we go…

Obama is President - Again

WELL! HE DID IT. Amidst a bad economy, high unemployment and a tough challenger, Obama made it to the White House – again. The US is divided as ever; with the population evenly split between the Democrats and the Republicans. 

There is sadly not much to celebrate for the President; what with tough negotiations on the US fiscal deficit management and the sad school shooting in Connecticut. Obama has to act fast, if he wants to be on the right side of history. 

India’s opening FDI

THROUGH THE LAST few years, Dr. Singh’s government has been plodding along on important reforms that would stem the economic slowdown and prevent the country’s sheen wearing off. From global leaders to rating agencies, many blamed the policy paralysis as one of the main factors behind this slowdown. Finally, in 2012, a full two decades after India’s date with economic reforms, Dr. Singh bit the bullet again. The opening up of the retail sector to foreign investments will help the country’s growth. True, now Singh and his government are facing the backlash; but that’s part of the job. 

Arab spring – Part 2

IN 2010, a self-immolation by an angry 27 year old in Tunisia sparked off what would eventually come to be known as the Arab Spring or Arab Awakening.  

In 2012, the crisis seemed to be focused in Egypt and Syria. In Egypt, President Morsi’s suggestion to give him expanded powers sparked weeks of unrest. The resultant clashes in Cairo saw several people killed and caused the IMF to put on hold a US$4.8-billion loan to Egypt. 

In Syria, the nightmare worsened. President Bashar al Assad’s continued defiance has seen 40,000 Syrians die. The concern of late is whether Syria will use some of the chemical weapon stockpiles it has amassed.  

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