An economic issue of current interest - Research Paper Example

of Debt Crisis to be solved by US and Europe: Journal Opinion Article In the contemporary globalized world, it has become significant for the business enterprises to look at the profit maximization through the lens of international business setup. This gives a clear call to the political-economic policymakers to cater the stranding business crisis of all sorts. Considering the International monetary fund (IMF) recent meetings regarding the international debt crisis due to the developed economies of the world such as US and Europe, it is easier to note that the bigger spectrum of international business is not stable at the moment.

It is merely a key factor for which the business economists have blamed the developed economies of the world. Alone, Asia is not able to provide any elucidations to the increasing debt crisis. This journal opinion article symbolizes the contemporary issue of international debt crisis. As per the opinions of the wall street journal, it is much easier to note that the developed countries such as United Sates and Europe needs to make efficient and quick change to make sure that the debt issue is being controlled.

In my viewpoint, I would also consider United States to be the most crucial element for removing the deficit. It is because United States is still undergoing the crisis scars of 2008. Taking a closer look at the Obama Administration, I t was being expected from the campaign that there will be a more understandable and effective planning for tax reserves etc. opposite to the expectation, United States under the provision of Obama policies have not been able to come up with any plan which could lesser down the need budgetary deficit.

As per the statistics, it was observed that the figure has been in trillions and sedentary throughout the Obama administration (Tailey). The aspect that needs to be understood by the developed economies is mainly because lowered growth. The overall expected growth in the international revenue has become a very dreamy picture. One needs to understand the fact that global crisis will continue to increase if no check and balance been undertaken by the developed economies in particular. The question in concern is because United States of America is the largest economy of the world that in return is having issues in return.

Obama needs to find out the right measures to solve economic problem which is only possible if he is able to find out the right plan. Seemingly, the political stigma in US continues to make this situation cloudy (Tailey). On the other hand, taking European intervention to meet the need of resolving debt crisis has been successful. Policymakers have shown great concern and effective planning has made it rather easier for Europe to contribute to the IMF and World Bank expectation charter. The increased focus has been given to this economic issue because the richer economies such as US have been affecting the developing economies.

Increase reliance of developing economies on US and European’s business franchises has helped their economic interest but on the other hand, it is easier to note that it has reflected a great deal of risk (Tailey). The situation of 2008 crisis affected many developing countries which further led their progress to the downward array. Thus, it is not being expected that if the debt crisis are met with effective planning than it will help the developing countries to take benefit of revenue generation (Tailey).

As a matter of fact, it has been noted several times that China can also play a key role in helping the developed countries such as US and Europe to undergo the deficit solution only in the case of it is ready to mark its share. Seemingly, China has not been able to play a role of a coordinator with IMF because Japan has also been invited to the meeting. For the sake of political interest, China has not been able to bring any changes or agendas for the meeting of IMF (Tailey). Therefore, it can be a possible attempt to note that United States is expected to do more as it is in the lime light.

In case Obama administration continues to fail to provide elucidations to the crisis management then the figures of the debt deficit will increase dramatically causing the IMF to bring strict policies. Overall, it can be said that the global business sphere needs quick and effective planning. Countries such as China need to contribute as well leaving their political interest as overshadowed fact as overall growth is much significant at this stage of complex and competitive business craft. Works Cited Tailey, I.

"IMF Urges EU to Deploy Bailout Funds." Wall Street Journal 14 October 2012: Online.