Impact Of Globalization On The Global Economy Essay

1168 Words Oct 20th, 2016 5 Pages
Globalization is doomed! This might be your first thought after reading the headlines of this article’s title, but it is not exactly what it seems. Lawrence Summers of the Washington Post, points out that there really is no impending doom or even evidence of a potential recession on the horizon. This article is more of a call to action for the incoming President of the United States. The future president of the most powerful nation in the world will have to play a primary role in getting the global economy jump-started again and creative policies on globalization will be critical in arriving at the intended destination. This time, it’s going to require more than just a few tax breaks and trade policies for the high rolling companies of Corporate America to get the ball rolling. Middle class American business owners are going to have to be empowered and given the opportunity to participate in international trade as well. The global economy is not declining, but it is somewhat stagnant. Consumers are not necessarily cutting every corner trying to save a buck, but they are hesitant due to what lies ahead. In an election year with so much turmoil on the campaign trail and unusually low gas prices, consumers around the world know that hard times could be just around the corner. Summers (2016), mentioned in the article, “there is no crisis at hand for the global marketplace, it just seems that hesitant consumers have decided to put more money into their savings accounts…

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