What in your opinion would be the repercussions if the fiscal cliff was not avoided, both in US and in the global economy. Will India be affected and why?

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Failure to avoid fiscal cliff could lead to severe economic repercussions globally and in the US, with India also being affected.

The US economy could experience a recession, with a potential decrease in GDP and increase in unemployment rates
Global financial markets could experience volatility and uncertainty
India could be affected due to its close economic ties with the US, with potential impacts on trade and investment
The failure to address the fiscal cliff could also lead to a loss of confidence in the US government's ability to manage its finances
The impact on India could be further exacerbated by its own economic challenges, such as high inflation and a large fiscal deficit

What in your opinion would be the repercussions if the fiscal cliff was not avoided, both in US and in the global economy. Will India be affected and why?

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