Economics of the World - 825 Words

The Economic Picture of the World in 200 Years from Now (Essay Sample) Content: The Economic Picture of the World in 200 Years from Now(Name)(Date)The Economic Picture of the World in 200 Years from NowPrior to the onset of the twentieth century, the then major economic powers experienced exponential growth in almost all of their principal streams of revenue creation. This necessitated the employment of clear cut and globally acceptable protocols aimed at easing the management of the new economies. Consequently, the emerging world powers managed to get a firm grip on almost all of the global economies. Nowadays, it is quite clear that the world powers hold on global economies is still as strong as it was back then. If the current global economic events are anything to go by, then the worlds economic picture 200 years from now will resemble a scene from an apocalyptic movie.In the early yester years, the United States was and still is the major player in global economies. However, this year, the United States government encountered one of its mos t insidious challenges since the last seventeen years, that is, partial government shutdown. In addition to this, the United States is also faced with soaring debts and deficiencies. As a result of its status as a global superpower and an economic giant, the ramifications of the aforementioned challenges are impacting directly on global economies. Consequently, most of the countries that have close financial ties with the United States have expressed their uncertainty over the growth of their individual global domestic product (GDP). Nevertheless, some of the emerging powers are showing strong signs of resilience and at the same time posting steady growth in their global purchasing and lending powers. It has been suggested that this laudable resilience has been brought about as a result of employing new economic drivers as opposed to the conventional economic drivers. Consequently, renowned financial analysts have argued that the nature of the economic picture of the world in 200 ye ars or so from now will depend solely on these economic drivers. The most prominent economic driver of the future will revolve around the application of next generation technology. In the year 2010, it was theorized that emerging markets have the potential to build or shake the future of global economies. Three years down the line, this hypothesis has proved to be right. Emerging markets, especially those drawn from the Asian Tigers, have continually shown their increasing influence on global economies. The major facilitator behind their growth emanates from their ability to apply technology to already effective business practices. Consequently, if this trend continues over the next 200 years, it is highly probable that the major global economic players of the moment will be overtaken by the so called emerging markets.Nevertheless, it is also possible that the major economic powers of today will manage to hold onto their capability to influence world economies. The issue of wheth er the current players will or will not relinquish their ...