Question

A one page paper (250 words)

Write an essay fully answering the following questions in 250 words.

• What global forces are affecting the U.S. economy? What consequences are they having? How are these global forces affecting your life?

Answer 1

Ans- There are several global forces that are affecting the US economy, some of them are as follows:

Trade war with China is the most important one, as it has drastic impact on the US economy. As, balance of trade is not favourable for the USA and due to certain reason there has been start trade war between these two countries. Venezuela crisis is also affecting the US economy in vital manner. As, due to this price of petroleum oil has been increased. Global slowdown is also a factor that affecting US economy.

These are having following consequences:

Trade war with China will have impact on price of products, currency value etc. As, Chinese products are comparatively cheaper, if Chinese products are withdrawal then people will have to pay more for the same one. Due to Venezuela crisis the will be upsurge in oil prices, which eventually affect all spheres of economy. Impact of global slowdown is well known. As, due to this there are slower demand of products or services, tourism industry is also affected.

These global forces are also affecting people's life in following ways:

Due to high inflation, people are forced to pay higher price, even for daily use product or service. Investment and purchasing habit is affected hence reduced. People spent nearly negligible amount on entertainment. So, we can say these forces ultimately affected people of the nation in all the way.