This website uses cookies to ensure you have the best experience. Learn more

“The Global Economic Situation And Prospects For 2010 And Beyond: Policy Options”.

1725 words - 7 pages

"The Global Economic Situation and Prospectsfor 2010 and Beyond: Policy Options".As the world globalize bringing with it new economic, social and cultural dynamics in multifaceted ways for local citizens.Most would agree that globalization is beneficial, but there are also those who feel that it brings threat to national sovereignty and local culture.In most cases globalization provides greater stability and security, its key developments can also be deployed towards the opposite end.As one economy falters others get affected falling into the same trap as the initial economy. With this kind of phenomena finance crisis can spread from one economy into another forcing global economic crisis. Once in this allurement world economies fell into deep recessions, while economic growth slows down around the world. Seriously affecting poor citizens and countries.Free market is no longer free, massive state interventions, including state ownership of banks and companies.The whole world has been affected by the current global financial crisis, through different means and levels.The United States and Europe, where the initial problem started where mainly infected via the open market and limited regulated financial sector.Asia got affected via its exports to these developed economies; growth dived sharply due to decline in the demand for exports.Eastern Europe was reliant on large capital imports through western banks and was therefore hit by the reversal of capital flows.African and South American economies suffered due to the massive drop demand, which caused the prices of commodities to drop.India was hit by sudden reversal of capital flow reversals as part of the global de-leveraging process.With an interconnected global economy, a major financial crisis in one country cannot be contained, as it will definitely filter itself to other economies.In addition financial system and the expansion of large complex financial institutions working on a collection of diverse activities that exceed national boundaries has led to stronger linkages and interconnectedness across institutions, whether they were regulated or not.By failure of any one large institution triggers rumors of another failure of other institutions due to either direct or indirect sources of exposures.1997-1998 Asian financial crisis was due to immense capital inflows becoming outflows.Many other reasons also initiated the outflows in the first place. Local financial firms were poorly regulated and supervised its borrowing in foreign currencies and over leveraging of loans to domestic corporations and projects of poor credit quality.In addition the currency crisis, which originally seem to be a minor problem become a full-blown economic crisis. Forcing Asian currencies to depreciate, financial sector deterioration, and corporate sector distress. In essence the crisis was the result of globalization and domestic structural weaknesses.Once the Thai baht was devaluated rapidly the problem affected all...

Find Another Essay On “The Global Economic Situation and Prospects for 2010 and Beyond: Policy Options”.

Intellectual Property Rights (IPR) Approaches to the Protecting of Traditional Knowledge: Policy Options and Directions for the LDCs like Bangladesh

981 words - 4 pages reveals the importance of developing effective protection policy for traditional and community knowledge, bio-diversity and medicinal plants in Bangladesh. In this regard the paper is going to identify and analyze key economic and social rationales for adopting protection policy to protect and preserve vast scattered traditional knowledge. Section-2 briefly discusses about the constitutional obligations, international principles, norms and

Water In the Middle East: Prospects for Conflict and Cooperation

1580 words - 7 pages works of the other countries have been the first significant attempts to challenge the above mentioned status quo. On the other hand, apart for the prospects for conflict, the role of the international community has been from great importance, as it is trying hard to impose a middle ground between the conflicting countries. It is clear that no final agreement is possible until there are agreed-upon borders between the State of Israel and the State

Millennium Development Goals, Conflicts, and Prospects for the Future: Lesotho

1543 words - 7 pages A decade before the United Nations established the Millennium Development Goals, an anthropologist named James Ferguson wrote a book called The Anti-Politics Machine, highlighting the damaging effects of so-called “development” on Lesotho. Much of this stemmed from a lack of consideration of the real economic and political situation in Lesotho. Similar development packages are used in many “Third World” countries and indicators such as GDP

The Prospects For A Reinvigorated And Diverse British National Cinema

1264 words - 5 pages The Prospects For A Reinvigorated And Diverse British National Cinema 'Is there scope for British Cinema in the future?' could be one interpretation of this statement and one that I intend to explore. I believe that with the dominance of Hollywood overpowering the British film industry, the past century has seen the traditional British cinema suffer. Although audience figures were utterly immense in the earlier half of

Healthy People 2010: Obesity and Policy

1085 words - 4 pages are part of the leading death rates.The objective of Healthy People 2010, concerning obesity, involves many issues and attributes. A few objectives are reducing overweight adults, healthy weight in children, food intake and nutrition, school nutrition, nutrition counseling and food security. All of these issues would help reduce chronic diseases and promote health with diet and exercise.To reduce obesity a policy would be adopted by the

Entrepreneur and Economic Development of Nigeria: Problems and prospects

1615 words - 6 pages 1 2010 Simeon Abumere Iyoha PG/EDU0003886 [ ASSIGNMENT FOR BUS 815-ENTREPRENEURIAL DEVELOPMENT 2008/2009] Entrepreneur and Economic Development of Nigeria: Problems and prospects INTRODUCTION"No amount of pay would be enough for an employee of an organization to live a comfortable life that he would please"- this assertion is a common place phrase that new inductee of banks are tutored with on entering into the financial systems of

China's External Relations and Their Economic Impact CHINA-ASEAN RELATIONS : Perspectives, prospects and implication for northeast Asia interests

2107 words - 8 pages China's External Relations and Their Economic ImpactCHINA-ASEAN RELATIONS Perspectives, prospects and implication for northeast asia interestsIntroductionASEAN Plus Three is a forum that fosters cooperation between the Association of Southeast Asian Nations (ASEAN) members and the three Asian giants - China, Japan and South Korea.The ASEAN +3 proposal has generated buzz and support around Asia. This is because the creation of ASEAN +3 would

Russian economic situation before 1917 and nowadays

3145 words - 13 pages , middle class revolutionaries, enlightened millionaires and reactionary nobles, under the absolute power of the last imperial family in Russia (belonging to Romanov dynasty), Tsar and Tsarina, Nicholas II and Alexandra.It became then obvious that such an economic situation should lead to a global revolution, what happened in 1917 with Bolsheviks.This crucial year in the Russian history meant the beginning of the very long tragic period that

The Chinese Government and the Chinese Diaspora: for State Economic Development and Global Power

2248 words - 9 pages policy and contemporary political policy directed towards the Chinese Diaspora Furthermore, that the Chinese Diaspora is an intended by China as a mechanism to increase its global influence and economic prosperity. Diaspora is most commonly viewed as key socio-cultural formations capable of overcoming the constrictions of national boundaries, the means through which people can imagine and align themselves beyond ‘an oppressive national hegemony

Global Communication: Situation Analysis and Problem Statement

1180 words - 5 pages Situation Analysis and Problem Statement: Global CommunicationsInformation provided by Wall Street shows that there are issues in the telecommunications industry. This industry is becoming more competitive as newer companies such as cable companies enter into the market. This has brought a challenge to the existing industry leaders to find new ways to keep one step ahead of the new competition coming in.Global Communications is one company that

Nanotechnology: Global Prospects and Possible Introduction in Nigeria’s Developing Economy

867 words - 3 pages (National Nanotechnology Initiative n.d). It is difficult to envision how small nanotechnology is. An illustrative example given by the National Nanotechnology Initiative is; a sheet of newspaper is one hundred thousand nanometers thick. This kind of size is extremely small and cannot even be seen by the typical microscopes used in high school science classes. Although the study is a new one, nanoscale materials have been in use for centuries

Similar Essays

Economic Policy And The Global Environment

1437 words - 6 pages Untitled Economic Policy and the Global Environment Pre-Course Assignment BCS12 Class A Student ID: 09139397 LUO SHENG Lecturer: Mr. Rodney Sim Question 1 "The price of gold has increased from less than US$700 per ounce in 2007 to more than US$1,000 per ounce in 2009." Discuss and explain with graphical illustrations, how the following events will lead to changes in the

Economic Policy And Global Economy Essay

1406 words - 6 pages -impacted economies in Asia, should the Eurozone enter into a full-blown crisis. The Eurozone crisis also impact Singapore's economic ,because of the export rate is decease there are many Singapore's company and factory are close down so that result in unemployment rate increase in Singapore from 2.225% in 2008 to 3.025%in 2009. Singapore's exports to the Eurozone directly account for more than 12 per cent of its GDP, and private sector holdings of

The Achievements, Failures And Main Options For The Eu In The Management Of Global Interdependence

1883 words - 8 pages , although both agencies are a good starting point for creating and supporting such policy. However, living in the world constantly threatened by terrorist attacks, the EU cannot afford any more negligence of this problem. Moreover, European security should go beyond the peacekeeping missions if the EU wants to be perceived seriously on the international stage. Conclusions It appears that current global economy calls for new forms of global

Problems And Prospects For Utilitarianism Essay

1919 words - 8 pages This essay will deal with the problems and prospects for Utilitarianism, outlining the basic tenants of its philosophy and the problems that can occur while using it as a basis for moral living. It will outline, evaluate, and dismiss three different strands; act utilitarianism, rule utilitarianism and the last which is a combination of both. The history should be illustrated putting into context why utilitarianism was initially attractive; this