America's Bubble Economy - Essay Example

The 2008 global financial crisis paced the world economy between a rock and a hard place. Its effects spread across the world quite fast, making many countries worse off in the entire world. The crisis resulted from various reasons, but the casing point is that the world’s major economies greatly contributed to this crisis. The export-import business worsened as major world currencies became unstable and of low value, worsening international trade at the time. Interest rates and foreign exchange markets were hardly hit (Gossman, 2008).

Poverty around the world persisted as unemployment conditions worsened the dependency ratio around the world. Current development and trends in economics are depicting a scenario of dynamism day in day out. Major economic issues that are likely to be discussed in this course 19 years from now pertain to employment, unemployment, and globalization. Employment and unemployment are taking a new direction each day. Chances and opportunities for employment are shrinking every year, resulting in high unemployment levels and a high dependency ratio.

The situation of the two in the year 2030 will portray attributes that will capture the world’s interest. On the other hand, globalization is likely to convert the world into a global village in a more extended manner than it is the case today.