The emerging third world us essay

First, what are emerging markets?

The emerging third world us essay

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The emerging third world us essay

Get Access The Emerging Third World US Essay Sample In the global perspective, the United States of America is commonly viewed as one of the most powerful and influential nation in the global society in almost aspect of living and government functions.

US has their significant impact to the global community in terms of economy, peace and order, environmental concern, science and research and others. Due to which, most people tend to develop views of placing the US community in high pedestal due to their effort in refining the human civilization into better.

However, considering the actual and recent economic changes, these factors state the otherwise. In the economic perspective, the US is normally viewed to be a rapidly developing nation with their strong and continuous industrialization, technological development in terms of production, and the vision of the people in uplifting the standard of living of the society.

However, due to the present changes in the global community as influenced by the so-called free trade development namely the globalization, the US economy is seen to be affected retroactively.

Considering the values in the external trade relationship of the US in the present as affected by globalization, Francis Ferguson express his opinion regarding the US as an emerging third world economy.

The economy of the US is mainly characterized by their high idealism towards the development of free trade and free market wherein the global community is free and equally benefiting to this cause.

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As such, the talents, skills, and goods of each society can be shared to the world for the benefit of all nations as one.

With this view, the US economy strongly supported the globalization cause yet, the actual impact of this global transformation likely became the opposite of the ideal expectation of their society.

The status and condition of the US economy in the present remain to be strong with a continuously trace of growth. However, paying attention towards the external trade relationship of their economy and growth of manufacturing sector in their local industry display traces of regression characterizing the US nation to be a third world country facing the challenges of globalization.

With the opening of the doors of the US economy outward the global community, certain disadvantages emerges in the condition of their local industry particularly the movement of their manufacturing businesses offshore.

With the development of the globalization influence, American businesses particularly the manufacturing industry started to resort in outsourcing policies wherein their plants and factories are now being built in other nations to take advantage of cheaper labor cost.

With this trend, production becomes an outside matter significantly influencing the trade balance of the US economy. With the production outside the nation, the US economy is now buying more from the world than what they are selling. Though these values does not show deficit in the present instances, long term run and projection values show that trade relationship will likely become highly imbalance in favor of the world with increased trade deficit for the US economy.

Another factor in this aspect is the flow of the dollar outward the US economy towards the global communitywhich is of significant value in terms of oil purchasing ability. In the present, dollar is mainly used as a standard for purchasing oil from OPEC nations particularly called as petro-dollar.

As such, the deficit in trade relationship of the US economy becomes a significant matter in the oil distribution and acquisition in the global perspective making the matter worse for the local US economy.

In general, the loss of manufacturing industry for the US economy towards the global community becomes a significant issue for their nation.

In long-term run, this loss will result to a great deficit in the trade aspect of their economy making the US a buying nation rather than being a selling nation in the global market. This dollar deficit is a significant matter in terms of oil acquisition thus, the US must be able to adapt to this issue.

However, lowering the labor cost in their local market is not an acceptable approach as American society move towards uplifting their standard of life resulting to greater dilemma. With these problems at hand, the US economy becomes an emerging third world faced with the adversity and challenges of adapting towards global community and free market trade.

Bibliography Ferguson, Francis More essays like this:The Indian economy is the second fastest growing major economy in the world. In terms of Purchasing Power Parity, the Indian economy is the third largest in the world. Its gross domestic product is US $ trillion. In , economist at Goldman Sachs had predicted that by the economies of the.

Emerging Markets Essay arteensevilla.com In the 70s and 80s the terms such as ‘Third World, Technology not only provides us with new emerging advancements, but they also can make a whole industry change with one revolutionary creation.

An excellent example that can be provided of how technology can change an industry very fast.

The emerging third world us essay

Emerging markets are also regarded as third world countries, according to Carusgil, Ghauri and Agarwal () World Bank's definition of third world countries are countries with GNP per capita of less than $7, which includes countries of Asia with an exception of Japan.

The Emerging Third World US Essay Sample In the global perspective, the United States of America is commonly viewed as one of the most powerful and influential nation in the global society in almost aspect of living and government functions.

Emerging Markets Essay Emerging market is a loose term, one often used by people who are not entirely comfortable with it but have not found a useful substitute. What substitutes do exist tend to be highly specific and have criticisms of their own, like BRICs or Asian Tigers (or the various other Tigers).

The Emerging Third World US Essay Sample In the global perspective, the United States of America is commonly viewed as one of the most powerful and influential nation in the global society in almost aspect of living and government functions.

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