The world economy is undergoing the drawbacks of being connected to
the US economy. It has been complying therewith since the end of World
War II and has shouldered the burden of its crises for over 60 years.
Currently, as developing countries are achieving a massive and solid
growth, it seems that the world economy is able to relinquish the
adherence to the strongest economy worldwide. So, can it survive away
from the repercussions of the US economical crises?
http://www.youtube.com/watch?v=n8x-3urT0zw
The boom has driven the international bodies within the UN, as well
as political references and NGO's in the world to show an interest
in distributing resources for the benefit of the largest share of the
population. The inequality in the allocation of the GNP or income
quorums keeps on escalating but it remains proportionate in view of the
fact that the boom has grown to span many areas of the world. As such,
the Chinese farmer, for instance, benefits from the growth of his
country, from the transfer of funds from cities to villages, and from
the improvement of his standard of living.
According to the report of the World Bank in October 2005, thenumber of those extremely poor has waned. But in its report of October2007, it laid the blame on the technological achievements as "beingone of the highest contributing factors to the mounting inequality andto the increasing financial globalization." Therefore, indicatorspoint out that inequality is becoming more intense in every area of theworld. In underdeveloped or developing countries, it is clearly observedthat high-earning classes always enjoy large resources at a time whenthe purchasing power of the poor continues to dwindle.
The same situation also characterizes the old industrial countries,
wherein the gaps in wages continue to expand. Employers reap their
excessive rewards, but this is just one of the facets of inequality. Even if you have a lot of other priorities for instance, sports, extracurricular activities, etc., still you need to complete a senior project to graduate successfullyIn
May 2007, a US study revealed that the income of 1% of the richest
citizens rose by 180% between 1979 and 2004 while the income of 20% of
the most underprivileged citizens rose by only 7% during the same
period. Hence, the reallocation of income is worse than ever and far
from meeting the aspiration of the world conscience.
The growth faces a second challenge resulting from the alarming
environmental issues, especially after the failure of the political
officials around the world to fulfill their duties in taking the
necessary measures to protect the circle of life. This is evidenced in
their breach of the provisions of the Kyoto agreement during the last
months.
Despite that, the international institutions are taking decisions
to curb the global warming. Last June, the G8 took up a recommendation
that the global warming should not rise above 2% until 2050. But the
proclaimed procedures were not accurate enough to provide for the
observance of Kyoto agreement, which is in force until 2012. In
Bali's Climate Convention, the conflict revolved around minimally
approximating between the issue and the returns of the agreement. Only
Saudi Arabia launched a fund at the beginning of this month to protect
the environment and impede the dissemination of gazes that cause
heating. But the conflict is ongoing about the methods, especially in
underdeveloped countries that have been dreaming of progress for years
and which should take action now to curb their power consumption and the
dissemination of carbon dioxide. This will surely curb economic activity
for the sake of respecting the universal environment and will
subsequently hamper world growth.
3
[c] 2008 Media Communications Group
Provided by Syndigate.info an Albawaba.com company
http://www.marketplace.org/topics/economy
http://www.blogigo.com/gustyvegetable549/Helicopter-money-might-help-economy-Reuters/736/
US economy
