How Global Economic Issues Depicts Our Current Crisis

Global Economy

Global Economy

In order to gain a deeper understanding of the global economic issues leading to the current global recession we have to look at the history, the things that work, and the things that have harmed the world's economy as a whole.

For one thing, activist groups are trying to save third world countries from being destroyed by our current global recession. These nations are endangered due to problems with an economy that operates on private ownership. For more details, read on.

Global History

Did you know that overseas trading has been happening for thousands of years? Absolutely! During the Middle Ages, people traveled the Silk Road from China to Europe and back just to trade goods. Therefore, a global economy has been in existence for a long time.

During the late 1700's came the Industrial Revolution. This period brought about mass production machinery and boats driven by steam. These newfound inventions allowed people to produce, deliver and trade goods at faster rate than ever before.

Global economic issues have stemmed from expedited globalization following the 1980's. As world trade soared, an entire global economy, controlled by a single system, was implemented for the first time in history. What exactly brought on enhanced world trade? Various events have greatly promoted world trade as the establishment of the World Trade Organization (WTO) and the North American Free Trade Agreement (NAFTA).

Pros and Cons

The greater the size of an entire market, the more consumers can benefit from cheaper and more abundant goods. For example, if one nation can obtain coffee from another for a lower price than growing it themselves, this country can devote its agricultural energies producing goods best for its climate conditions. This is the true meaning of globalization.

One major problem brought about by globalization is the exploitation of small and poor countries. These nations provide a cheaper labor market for large corporations than that of the industrialized nations from where they originate. Hence, corporations outsource their production needs and some even relocate to the poor nations, either making them less wealthy or gobbling them up. While citizens of such countries are deprived of vital resources, such as clean water for private and production use, unemployment rises in the corporation's home country. This is rather upsetting and has been going on for the past thirty years.

The Future of Our Global Economy

Now is the time to educate yourself about our global economy. This involves forming your own opinion about world events and finding ways to protect your personal financial stability. It is not only ethical problems of globalization, but other indicators revealing that things will only become worse, despite the establishment and organization of protest groups addressing world problems through current global economic issues.

by: Ylva Jansson.

POST COMMENT

Lagos a financial and economic zone of Nigeria Overregulation Of Steel, Economic Downturn Suffocate Wire Industry: Strathclyde Associates Construct 3d Tv To Promote Resistance To Great Demand For Japanese Enterprises Adverse Economic Blow Strong Effect of economic to the ecology IMPORTANCE OF ECONOMICS Economical And Low Cost Rhinoplasty In India For International Patients With Desired Results Birthday Gift Baskets Economical Yet Classy Why Is The United States Zigging While The Rest of The World Is Zagging, Economic Policy Wise? Academic Disciplines: Essential Skills To Study Economics Practical Papers Regarding Advices On How To Grasp Economical Air Ticket Costs Helpful Compositions About Ways On How To Discover Economical Air Ticket Fares Beneficial Editorials Discussing Secrets On Snatching Economical Air Ticket Prices Another Month, Another Doomed Economic Stimulus Program