Sunday, May 24, 2020

The Economic Health Of The World Is Not Dependent On Just One

The economic health of the world is not dependent on just one â€Å"thing†. There is no single variable that can be narrowed down that is responsible for the ups and downs that we as a global economy experience in any given day, month, or year. Instead, the health of the global economy is heavily reliant on the amount of effort that is put into keeping and maintaining it. How is this done? By making sure that we are all on the same page and working toward a similar goal. One of the bigger problems that the world is facing right now, however, is that each individual country’s goals might not necessarily line up the way others might want them to. What would be a good and successful plan for the United States might not necessarily be beneficial†¦show more content†¦However, in terms of the country composition for the slowed growth rate, the revisions are largely accounted for by the Middle East, the United States, and Brazil: the Middle East, where prospects are h urt by lower oil prices; the United States, where growth momentum is now expected to hold steady rather than gather further steam; and Brazil, where the recession caused by political uncertainty amongst continued fallout from the Petrobras investigation is proving to be deeper and more extensive than previously expected. All these events pave the way down one of two roads – the first being down a road of global economic prosperity, the second being down a road of global economic loss. So how exactly do the events happening in Brazil have such huge impacts on global economic welfare? Brazil’s economy has been suffering for quite some time now. The country, part of the BRIC (Brazil, Russia, India, and China) grouping, was supposed to bring in a new wave of economic prosperity through abounding growth rates through the coming years. It was successful for a while when it experienced impressive growth rates on its commodities and energy exports; however, once China’s economy started to slow down, Brazil’s slowly

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