The Positive and Negative Effect of US Economics (Essay Sample)

The Positive and Negative Effect of US Economics

The current international economic system is characterized by liberal and free trade zones, which promote the exchange of goods and services between countries around the globe (Rugman & Scholes, 2011). As a result of globalization and technological advancement, more products and services are produced with time; it results in an increased flow of merchandise from one region to another. Most developed economies, such as the United Kingdom and the US, are leading the world’s economy. However, the rate of development in developing nations is very low.
Consequently, local countries import most of their products from other countries. Throughout history, governments across the globe have realized that this type of relationship would create many problems, one of them being unemployment in underdeveloped countries (Rugman & Scholes, 2011). Thus, there has been a need for countries to come up with a way through which they can mitigate these negative effects. Over time, several measures have proved effective in minimizing this problem of excessive imports. However, over the recent past, there has been a great change in the economic policies of the United States after Obama made several changes in his economic policy.