Friday, May 22, 2020

The Global Economy Has Suffered And Pushed Through Many...

In the year 2015, the global economy has suffered and pushed through many hurdles. In the first quarter, the American economy made a painstakingly slow progress in many places, while still dealing with other key players in the global market that had potential to hurt the markets even further. Greece and China have both caused lots of worry throughout the world; Greece not using the Euro as their currency could have hurt the market, as well as China’s government devaluing their own currency, causing a ripple effect throughout other markets. World trade itself has shrunken, adding new fire to the already blazing financial crisis at hand. Some would even argue that the first and second quarter of 2015 were the worst performing quarters that the world has seen in a very long time. Back in the 1990’s, growth in world trade was generally faster than growth in the GDP, or gross domestic product. However, recently this has changed—both have scaled back. Hyperglobalizatio n, a term used to describe the process of international intergration that arises from interchanging world views, products, ideas, and other aspects of culture, had begun by China’s gaining their own sovereignty, the former Soviet Union, and a reduction in trade barriers, as well as the creation of WTO (world trade organization. The expansion of global supply chains facilitated the progress in technology, which in itself causes economies to grow and prosper—better jobs, a more intelligent civilization that can keepShow MoreRelatedHow India s Economic Policies And Growth Have Changed Since Independence Essay2674 Words   |  11 PagesIndian subcontinent has been invaded since time immemorial for the riches the land held. It is often said that trading with India and conquering it was a great deal to the Europeans. For the British to reign the country for so long, which became dominant primarily after several wars and diplomatic issues in Indian as well as Europe, was a s ource of pride. It established them as superior to the Dutch, French and Portuguese. 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