When you are suffering it is hard to imagine others feeling the same pain. In reality, many people have experienced the same situation or one very similar to your own. It seems as if the United States isn't the only country in economic despair. People across the globe are hurting financially as well, specifically China. China's issues appear to be almost a mere image of the problems affecting the U.S.
The U.S, currently amidst an economic crisis, is not at it's financial best, and many companies have fallen under. To help assist the situation a $700 billion bailout plan was created. This bailout plan has helped in the saving of many companies from bankrupcy. Even with this bailout, the economy still seems to be plummeting. During this rough time for the U.S, China is also struggling. Their export and investment growth has slowed, and therefore leading to a depression in stocks. As a result of these problems, many companies have had to close or lay off many workers. In order to help restore the situation China has just implemented a $586 billion Economic Stimulus Plan. This new plan will help assist their country with the rebuilding of railways, subways, and towns hurt by the recent earthquake. The money will be used to help restore the global market as well.
With both major countries experiencing similar problems, it would make sense for them to find a way to work together. The president of China, Hu Jintao, will be traveling to Washington soon to meet with President Bush and other world leaders for a global economic summit meeting. Our new president- elect Barack Obama has also gotten in on the action. On Saturday, Jintao and Obama shared a telephone conversation discussing ways to solve economic issues using each others help.
When I read about this topic, it gave me some hope for the future. I now have a stronger belief that our economy will get stronger. It may take time, but I have faith in what our country and the world can accomplish. I also see a lot of great possibilities for our soon to be president. He is becoming involved in this issue, and paving a path. When the world can come together, problems can be solved.
The U.S, currently amidst an economic crisis, is not at it's financial best, and many companies have fallen under. To help assist the situation a $700 billion bailout plan was created. This bailout plan has helped in the saving of many companies from bankrupcy. Even with this bailout, the economy still seems to be plummeting. During this rough time for the U.S, China is also struggling. Their export and investment growth has slowed, and therefore leading to a depression in stocks. As a result of these problems, many companies have had to close or lay off many workers. In order to help restore the situation China has just implemented a $586 billion Economic Stimulus Plan. This new plan will help assist their country with the rebuilding of railways, subways, and towns hurt by the recent earthquake. The money will be used to help restore the global market as well.
With both major countries experiencing similar problems, it would make sense for them to find a way to work together. The president of China, Hu Jintao, will be traveling to Washington soon to meet with President Bush and other world leaders for a global economic summit meeting. Our new president- elect Barack Obama has also gotten in on the action. On Saturday, Jintao and Obama shared a telephone conversation discussing ways to solve economic issues using each others help.
When I read about this topic, it gave me some hope for the future. I now have a stronger belief that our economy will get stronger. It may take time, but I have faith in what our country and the world can accomplish. I also see a lot of great possibilities for our soon to be president. He is becoming involved in this issue, and paving a path. When the world can come together, problems can be solved.
1 comment:
I think it is really important that we are working together with China. We are not the only country in an economic crisis, and we are much more likely to get out of it with the help of other nations. We are all in a time of peril, and working with other countries of similar experiences can really help us.
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