Current Global Economic Issues - Is A Global Economy Beneficial?
Globalization
There are factors that have been known to affect our overall economic health. This includes current global economic issues that caused our current global recession in addition to historical events and the overall impact of these trends.
In essence, our current economic recession is not so much a "recession", but rather a transfer of wealth. The rich get richer as the poor get poorer, critics state. As the US economy currently stands right now, the middle class is rapidly dwindling and billionaires are growing at a faster rate today than ever before. This factor provides compelling evidence that critics are right.
History
Have you ever heard about the Silk Road? It is a road that connects China and Europe. In the Middle Ages traders would travel this road to conduct trade. Likewise, people have been traveling overseas to conduct international trade as soon as they possibly could. Hence, a global economy has been around for thousands of years.
During the late 1800's production and trade grew to a higher level than ever before. Goods could also be delivered at a greater volume. Thanks to the creation of production machines and steam powered boats, this all was possible.
Globalization really picked up speed after the 1980's when, for the first time in history, a global economy was formed. Legislation, for example, as the NAFTA (North American Free Trade Agreement) and the formation of the WTO (World Trade Organization) helped to create a global economy that was very much stable and was under the control of one system.
Globalization
Globalization allows nations to produce what they do best. If a country can cheaply manufacture steel, another country can purchase that steel and concentrate on other markets that are better suited for that country.
One of the major downsides to globalization in this country has been jobs loss. So many corporations have taken advantage of the tax incentives (yes, our government pays them to outsource) as well as the significantly cheaper labor. Other less fortunate countries pay a much higher prices however. In South Africa, for example, a certain cola company that I will not name here has gone in and taken corporate control of their clean drinking water. African children drink more of the soda than water...because the soda is significantly less expensive.
Moving Forward
So there are both economic and ethical problems associated with globalization and most believe it is a direct result of our current global economic issues. The best thing we can all do is to educate ourselves and encourage others to do the same. Only through knowledge can we truly become empowered.
by: Sidney King
Global Tenders Are Valuable Routes To International Market Global Resort Network - A Little Normal Information On The Company And Their Services Magnetic Resonance Imaging (MRI) - Advanced Technologies and Global Market Global Crossing (wholesale) Market Research Report Why Global Businesses Utilize Sea Freight Services? Give a Global presence to your organization with an impressive website Tankless Water Heaters-What to Know Before Purchasing Wrapping Sensitive Items For Worldwide Shipping A Global University for a Global Society Vacation Travel To Luxury Global Resort Canon Digital Cameras- Very Humble Beginnings To Global Class Organization A Global Information Network Review That Actually Helps What You Should Know About Purchasing An Iron Rail For Your Balcony?