With the world today, each country cannot solely depend on itself to support its economy. This statement has been proven true multiple times with multiple economies. For instance, The United States economy is on a constant roller coaster, as is many European countries due to the struggling Euro. With just the Euro fluctuations, this impacts each country that does import/export business with any country that is a member of the European Union. Lately, China has become the economy to watch.
It was not long ago that China was the country to watch for its vast improvements and growth. However, due to this rapid growth, many people expected a downturn to occur as well; what does up, must come down. While China is doing all that it can to keep its economy afloat, the declines that the US Dollar and the Euro are taking are making a dramatic impact on other economies. In a roundabout way, when one country struggles, they all struggle due to our interconnected global economies
What these occurrences make me wonder is why does history continue to repeat itself? These ups and downs in the economies have been happening as far back as anyone can remember. That does not seem to matter to the economies that are in the booming process. It is not until afterwards when they are in the aftermath of the boom that people ask what they could have done differently. As the article states, the Vice Finance Minister of China calls upon other countries and China to help amp up the export markets in order to stimulate demand. What good does amping up export markets do if your main exports go to countries that are in a financial crisis themselves? As we continuously look at the big picture of what China’s struggling economy can do to everyone, we must not overlook what this struggle can do to individuals as well.
