Current World At Difficult Times

Current world at difficult times

Introduction

Crisis times in today’s world, to everyone’s knowledge, it is not the same as 11 or 90 years ago. 90 years ago the world faced something for which I was not ready, the famous great depression. This great depression consisted of a global economic recession that seriously affected the United States and then became the epidemic to the rest of the world, affecting industrial production, agriculture, construction and banking. This recession is the one that has affected the most countries and the one that has lasted the lonth of all.

Developing

Extending from 1929 to the beginning of 1941. Joseph Stiglitz, in his article World Crisis, Social Protection and Employ. But we should remember that ten years ago we were almost as ready as today, despite which the IMF and the American treasure went to Indonesia, they advised the country what it should do with their financial system.

In this sense they managed to sink this. Indeed, 11 years ago the world suffered another unexpected blow to world economic stability, this time was the great recession, again a worldwide economic crisis that has as the first patient, United States. This crisis explodes in 2008 after being conditioned since 2001 because of a series of events that would inevitably lead to this crisis, among these events;The collapse of the real estate bubble in the USA.

The events of September 11, 2001 and the so -called subprime mortgage crisis.

Today, we are in a world that after two great crises still costs him to learn, a world that does not stop making the same mistakes and does not stop tempting the economy to lose its stability. The repercussions that the US-China commercial war brings, the fact that the subprime is repeated;But this time with cars, taking American citizens to exceed 13 billion dollars in debt.

Being at least 40.000 dollars in debts per citizen and that high levels of inflation are seen in many countries. These are factors that announce the arrival of a new world financial crisis, therefore the question arises. Could the world of today resist a crisis as the aforementioned? The response to this unknown is uncertain, because it is not known how markets and countries will react. Before a situation of this magnitude in the current world position.

There is an inclination that the response to this unknown is a yes, this because thanks to the experience of the previous crises, almost complete certainty is already known as leaving them. According to José Zufiaur, to get out of this crisis, with the lowest possible damage for the majority, it will also be essential, to resort to public spending, with the aim of promoting growth and job creation. This and many other strategies raised by great economists and scholars of the subject.

conclusion

These are the strategies that are expected are the lifeguards of the world in arriving in the next crisis, taking into account that you are rigorously studied and tested in previous economic crises. Thanks to this we can conclude that although another world economic crisis is almost imminent, the world has managed to learn to control the economy thanks to its errors in the past crises and this to some extent has prepared it to avoid another crisisof economic control.

Bibliography

José Zufiaur (2008). How did we come to this?

UNION-UGT MAGAZINE

Joseph Stiglitz (2008). World Crisis, Social Protection and Employment: Vol. 128, no. 1-2

International Labor Magazine.