World Economics

Tanner Aumend

Mrs. Straub

Economics

12/8/14

World Economics

Why talk about just united states economics? Why not talk about something more important such as world economics? Let me enlighten you on some of the issues that are going on outside of the border. In the Euro zone (European countries) there are significant negative externalities (‘China no more”)  that are effecting the economy in Europe. In class we had discussed the effects of Ebola on the government and it has seem to not have affected the government here but it is still effecting the government in europe. Other big problems that the world face are the diminishing powers of other large economic countries such as china.

(“Chinas back”)

China was the overall largest economic power until recently. You can see that the overall economy of the world has fluctuated significantly over the past couple of years and you can see where we stood 14 years ago. (“Chinas back’) In the year 2000 we were number one with an entire GDP per person of about 475. This in comparison to 50 years prior where qatar had a max GDP per person of about 1,400. (‘Chinas back”) This shows that the overall government policies that we have in place now are not significant in comparison to these other countries,

However, if you watch this video (http://econ.st/1paZWYv) it explains that the economy of china is clearly increasing dramatically since they have fallen so drastically after the recent recession that they were facing. ("The world's biggest economic problem") This video explains the policies that they are going through in order to get their economy back to where it was which was ⅓ of the worlds economic power. ("The world's biggest economic problem") These policies consist of both monetary Policies and fiscal Policies. These policies allow china to control more aspects of their government. Does this make me believe that these are policies that we should induct into our United states policies, no. But I also think it is something that we should really think about seeing as how it has worked for china thus far.

In conclusion it is highly accepted in other countries to ask for help in things that another does not know. Meaning I don’t think that our government is going on the track that we should be going and should also look for some sort of consult. This consult can manifest itself in any way whether it is looking at another country rise and see how it happens, or there can be a physical presence of another country's leader to help fix the economy that we think we have such a good handle on.

Works Cited

"China No More." The Economist. The Economist Newspaper, 16 Oct. 2014. Web. 10 Dec. 2014. <http://www.economist.com/blogs/freeexchange/2014/10/worlds-richest-economies>.

"China's Back." The Economist. The Economist Newspaper, 11 Oct. 2014. Web. 10 Dec. 2014. <http://www.economist.com/news/finance-and-economics/21623758-chinas-back>.

"The World's Biggest Economic Problem."The Economist. The Economist Newspaper, 25 Oct. 2014. Web. 10 Dec. 2014. <http://www.economist.com/news/leaders/21627620-deflation-euro-zone-all-too-close-and-extremely-dangerous-worlds-biggest-economic>.