Friday, January 27, 2012

What Should Be Done to Tackle the Global Economic Crisis?

The disaster in the economy that started in the year 2008 has snowballed into global economic crisis. Its harmful effects on investment and trade are being experienced now in many economies that survive on export. Even the twin threats of economic trade dehydration and growing protectionism are also being seen in the near distance. The consistent decline in finance has made a larger support for development for improvement in trade more necessary to reduce the negative impact on the global economy, especially in the least developed nations.

It is very important to provide trade with support in the form of building new infrastructure as well as capability for development led by trade for the recuperation of the future and for stabilizing global economy so that there is structural modification and progress in the long run. There are several imposing approaches for attempting to solve the global economic crisis like the Goals for Millennium Development by the UN. These are however, supercilious standards. They are intimidated by the repercussions of the economic problem. This would reduce the current funds of these goals. The goals only try to segregate poverty in parts. This is not of any use. It implies that most of the wealthy countries do not have the will, politically, to move ahead to achieve motivated targets. They are eager, for instance, to only fill their own banks. The time has come for a more necessary set of measures. They have to be thought out well, on a global scale. The core of the economic system of the world is now being paid attention to by many nations. The global economic crisis is threatening to stay for good. Many people who are smart are putting things back in order so that they can face the storm and also beat it to come out triumphant!

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