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Published opinion of Rosa Brooks from Los Angeles Times analysis - Personal Statement Example

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Amid the credit crunch and subprime crisis of the United States which brought about the bankruptcy of its biggest victim Lehman Brothers, I received a forwarded email which is the published opinion of Rosa Brooks from Los Angeles Times. This is purportedly a letter to the US from IMF and World Bank critiquing the recent policies and regulations of the country which lead to its downslide…
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Published opinion of Rosa Brooks from Los Angeles Times analysis
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Download file to see previous pages Because as economists put it, when US cough, the world catches cold.
The recent years have seen the stronger and tighter relations among nations as they open up their borders for freer trade through the formation of trade blocs and regional partnership. Aside from local produce, most of the consumers' income in US is spent in cheaper imported goods coming from Asian trading partners like China, Philippines, Malaysia, and Thailand. These nations have long been the biggest trading partners of US and have long benefited from the strong demand in our country. With the technological development, services have also been imported from these nations as well through business process outsourcing. So, with these nations heavily dependent on US partnership, it is irrefutable that the economic recession in our country will also bring about slowdown in other smaller and less stable economies. On the other hand, the collapse of Lehman Brothers is also expected to sabotage growth in the Eurozone. So, it's not just the US which should be given with this letter and the much needed economic assistance from IMF and WB. ...Download file to see next pagesRead More
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