What do u think of the current economic situation in the world?
Answer:
Well, if you look at the growth areas of the world, China, India, and some other Asian countries they are doing great by increasing output with low wages and thus experiencing surging growth. I think there are parts of Eastern Europe that are doing well, and the Nordic countries of Western Europe are doing very well. I think Mexico is doing better.
One cannot escape the obvious fall of the United States and the Soviet Union, both politically and economically, of recent years. One could trace it's root back to the late seventies when Middle Eastern powers asserted their independence and Europe grew to compete with the US in technology. But certainly now the great strength of the US - the free market - has now become its great weakness - since it cannot compete with low wage manufacturing. Hence, the middle class shrinks while millions can now longer afford the things their parents had. The Soviet Union's great strength - its planned economy - of course collapsed and became its greatest weakness. Although a planned economy on a war footing can inspire great imitation it cannot innovate.
Ironically, it is Marx who predicted the decline of the west under competition, since workers will compete wages to such a low level as to cause economic disruption and chaos. It is possible that this has yet to come.
I think it is a bit unstable with few assurances and not many people really look into the economy but it can crash any day I think.
The world economic health is at a high sustainable level. Providing that there is no one stupid enough to do something idiotic ( such as those people in Iran) that would shake the consumer confidence, then everything should keep rocking along nice and smooth. What cause economies to fail is false information. So long as there is credible finance information, then speculators will remain calm. When there is an abundance of false information and it comes to light, there will be a level of panic in world markets and that will cause investors to start selling off their holdings and like dominos.. favored finance programs will fall.. if something is not done to stem the tide of false informatiion, it will continue to slide till it gets to the bottom. I think for the near future, everything is fine. I just hope the idiots don't become too stupid.
hi
i live in Jordan which is small developing country..
i think racing developed countries is very hard thing from a small country to do.. and there is so many obstacles in front of our country.
i always feel like developed countries tries to keep developing countries behind esp. the debut of my con. to USA and many developed cont. we are paying "after more than 10 years" just intrests and never had payed a full intrest payment..
at this year.. Jordan's GDP reached 80% of yearly intrest rate which is a BIG economy improvment.. from 120% last year, 280% before 5 years..
after all dont forget that USA goverment gets 35% of its income from debutes and its intrests from 3rd world countries..
answering ur last thought.. the world overall esp. USA at the mean time is running a "Recession" as economy enters it every several years just like what happend in after ww1
production is much much higher than consumption, china is the main problem factor.
hope its convensing to you as much is very real to me..
thanx
I think as the markets continue to become more globalized and interdependent the world is only doing itself in and I feel the world does not care enough to change that.
Many would ask “ Are you anti-globalization?” and my answer is “no” but I don’t like it and I believe in the idea of “Curbing Globalization” and through that process we take out the bad things from globalization like interdependence to the extent we don’t have to rely or solely rely on an nation for food, oil, and etc. I also believe in fair trade because I think it helps not only the rich but the poor too.
If the world does not change however then we are doomed to fall.
Overall economic situation throughout the world has gone down as the developed countries seem to be dropping their GDPs, not very drastically but still change is evident. countries like china and india are moving towards a better economical situation due to their clever strategies and manpower. very soon we will c rise in GDPs of some unexpected countries and drop in the GDPs of superpower if they dont change their current strategy and their bad habit of picking up fights with evryone
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