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Essay on the effects of Economic downturn on the global economy

Number of Words : 2204

Number of References : 10

Contents

  Introduction
  FOREX- Dollar Dips on Growing Risk Appetite, US Jobs Eyed
  Bulls Rise on China
  Chile Industry Sinks for 7th Month, Jobless Jumps
  Conclusion
  References

Description

The economic downturn was probably the biggest international event to have happened in several years; taking into its fold all the countries of the world and thus, making the globe a single entity. With the prospect of a bullish economy on the horizon, the issues facing the world are not yet over. In fact, sustaining the brisk pace of the economy is going to be the most difficult and perilous challenge. The end of the housing bubble in the United States of America, the unfolding credit crisis, the decline of the United States dollar vis-à-vis other major currencies, the persistence of the large global imbalances and the surging oil prices will all threaten the sustainability of economic growth in the coming years (United Nations, 2008).<br />A global outlook becomes quite significant in this scenario. There are projections all around and events of international importance are occurring even in smaller countries. It is important to take all such events into account in order to clarify and justify the economic projections. Be it the bearish Latin America or the bullish China, there is no country in the world that is insulated from economic fluctuations right now. Multi-national companies (MNCs) have had to alter and adapt to these fluctuations the world over. <br />This essay discusses three recent economic events of international significance- FOREX-Dollar dips on growing risk appetite, US jobs eyed (5th June, 2009), Bulls Rise on China (1st June 2009) and Chile industry sinks for 7th month, jobless jumps (28th May, 2009). These events made significant headlines in the last week and are supposed to be decisive for the way the economy is turning out to be and the way that MNCs are expected to function in these countries and worldwide.<br />

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