In 2009, President Obama said the single greatest threat to United States securi

Question

In 2009, President Obama said the single greatest threat to United States security was the global recession. How does a global recession impact U.S. security? Why does a global recession matter? Security experts note that the economic downturn is already creating social unrest and political instability in some strategic hot spots around the world, and they warn that a prolonged slump could undermine U.S. and Western security interests. The global economy is an important issue of particular importance to people of all ages in all parts of the world. As our world experiences a deep economic downturn, what is the best plan of action to combat global recession? A global crisis requires a global solution. For the final segment of this semester’s final project, your task is to prepare a 5 minute speech that outlines your plan to solve the global economic crisis. As we discussed previously, every new unit will investigate an important issue for the region we are studying in preparation for the G8 Summit … the final project. This will be your fifth of five components that will make up your Semester 1 final project grade. You may complete this assignment as a word document, video, or podcast. You will be graded according to the following criteria: Logical and coherent plan Discuss one or more of the economic systems and how they are impacted by and/or contributing to the economic crisis Display understanding of current issues with supporting evidence Discussion of specific problems that need to be addressed as well as suggestions for potential solutions with supporting evidence Outline of goals for the future and how those goals can be reached

Explanation / Answer

Combating Global Economic Crisis

The world economy is a crucial concern to individuals of all ages around the world. This calls for a global remedy towards this global economic crisis. To improve the world economy, the economic growth of the world ought to be stimulated in addition to ensuring all society members share the benefits of the growth. Consequently, promoting the shared prosperity among the poorest as well as eradicating the extreme poverty in developing nations. It is pertinent to note that extreme poverty, globally, has declined notably. According to the World Bank Group, 1 billion people in 2011 could be categorized to be extremely poor as compared to 1.25 billion in 2008 of the populace of the world. The goal of reducing poverty seems realizable; however, it cannot be completely being achieved unless we accelerate our efforts towards combating poverty and hence global crisis.

Also, it is imperative to underscore the fact that prelude effort on shared prosperity previously has resulted in significant findings. As per the Global Monitoring Report, 58 of the 86 nations indicated a fast rise in income among the low-income household as likened to the whole population in the years 2006 to 2011. At the same period, the income of households rose by more than 7 percent per year. Nevertheless, in 18 nations out of the 86, saw the income among the poorest declining. In addition, despite the narrowing down of the living standards gaps in many nations, the poorest `s well being when measured by their access to health and education services remains far below when compared to that of the wealthier households. Therefore, still more needs to   be done in order to narrow the gap and can be achieved via emphasis on shared prosperity thereby solving the global economic crisis.

I hope that boosting shared prosperity together with reducing poverty will aid in combating global economic crisis as it will help in narrowing the gap between the low-income households and the wealthier households. Nonetheless, the road ahead in combating this will encounter a number of challenges such as the unprecedented Ebola endemic in Africa, climate changes together with associated weather calamities, conflicts in Eastern Europe and the Middle East and persistently high rates of unemployment particularly among the young populace are likely to hinder the progress. Still, hastening job creation and poverty reduction will necessitate more than economic expansion. Policies ought to be put in place to ensure that growth benefits of the economy benefit the low-income households in the society in all a nation`s development stages. To combat global economic crisis, therefore, requires judicious safety net usage, investment in infrastructure, the creation of medium and small sized companies so as to stimulate the creation of jobs, averting political and social unrest, greater human capital investment as well as developing steps that are aimed at making the environment be sustainable. The three elements are paramount to all nations in their developmental agendas in the global efforts towards combating the global economic crisis.

We should perceive the poor individuals in society as not liabilities but as assets. This implies that there should be new global strategies aimed at caring for the infants, empowering the women, educating the youth besides protecting the vulnerable in the society. These combined with the early mentioned strategies will greatly help to combat the global economic crisis.

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