Economy partnership making it easier to help each

Economy is the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services. Something that we should recognize is that our and the global economy can and does have issues. For starters, the rest of the world’s economy affects every countries individual economy directly. The United states has the world’s single largest economy. In fact at one point, Chicago had about the same GDP as Australia — an entire continent! This, by all means, is great that we have a large and thriving economy, for we are bound to have very important effects around the world; however, this could be very problemsome considering our economy affects other countries and other countries affect ours. Consider this, if the United States and China stopped the trade of products, United State’s citizens would have two options. They could deal and adjust their lifestyle to live without these products or they could pay tremendous amounts of money for products that they once paid very little for. If trade stopped around the world, economic issues would occur around the globe as well. Because of trade, a few things happen for the countries involvement in the trade. First, consumers benefits from imports because the goods provided are generally high quality, lower priced, or both making it much more likely to be bought. Second, producers benefit because by making and selling they are receiving the money and the credit for the success, as well as helping their countries economy. That leads me to my third, and most important point, because of the trade between countries, there is a relationship and partnership making it easier to help each others economy, therefore explaining how each country can help one another. Because of the sales, exports, imports, and employment between all the countries, we are running a global business, again, helping our country’s and our world’s economy.This will likely continue in the future. Because of advancements in technology and such, this relationship, partnership, and correspondence seems awfully permanent as well as necessary. Some other things that we as a whole should look forward to is the addition of more countries to our trade system. Because of the developing countries such as Saudi Arabia, Mexico and so forth, our trade “program” for example, with expand again increasing our economic growth as not only a world but as individual countries as well. Our global economy, if more developing countries become developed, will hopefully skyrocket considering our world will be as one, in a financial sense. A few of the other problems we run into is, as a whole, we are not on the same page economically. Although each country has their own roll in our economic system, each country’s economy is run differently. This can become and has become a conflict before because ultimately we as people do not like or enjoy change, but in order for us to improve global economy perfectly we must all be able to sacrifice some things and compromise on others. Again leading to more problems. Now, understanding that there will be problems probably forever, we can still make the most of the situation by continuing to better ourselves and by bettering everyone around us, hopefully making an impact on our world and its economy.

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