The world Economy, or Global Economy, generally refers to the economy, which is based on economies of all of the world's countries' national economies. Also global economy can be seen as the economy of global society and national economies – as economies of local societies, making the global one. It can be evaluated in various kind of ways. For instance, depending on the model used, the valuation that is arrived at can be represented in a certaincurrency, such as 2006 US dollars.
From now on, whenever you hear the term "the global economy" you should immediately equate it with the destruction of the U.S. middle class. Over the past several decades, the American economy has been slowly but surely merged into the emerging one world economic system. Unfortunately for the middle class, much of the rest of the world does not have the same minimum wage laws and worker protections that we do. Therefore, the massive global corporations that now dominate our economy are able to pay workers in other countries slave labor wages and import the products that they make into the United States to compete with products made by "expensive" American workers. This has resulted in a mass exodus of manufacturing facilities and jobs from the United States.
A one world labor pool means that the standard of living for the U.S. middle class will continue falling toward the standard of living in the third world.
We keep hearing about how the U.S. economy is being transformed from a "manufacturing economy" into a "service economy". But "service jobs" are generally much lower paying than "manufacturing jobs". The number of good paying "middle class jobs" in the United States is rapidly decreasing. So how can the U.S. middle class survive in such an environment?
What makes things even worse for manufacturers in the United States is that other nations often impose a "value-added tax" of 20 percent or more on U.S. goods entering their shores and yet most of the time we do not reciprocate with similar taxes.
But whenever someone mentions how incredibly unfair and unbalanced our trade agreements with other nations are, they are immediately labeled as a "protectionist".
Well, someone should be looking out for U.S. interests when it comes to trade, because the current state of the global economy is ripping the U.S. middle class to shreds.
Right now, the United States consumes far more wealth than it produces. This nation buys much, much more from the rest of the world than they buy from us. This is called a "trade deficit", and it is one of the most important economic statistics. The U.S. runs a massive trade deficit every single year, and it is wiping out our national wealth, it is destroying our surviving industries and it is absolutely shredding middle class America.
We cannot allow tens of thousands of factories to continue to leave the United States. We cannot allow millions of jobs to continue to be "outsourced" and "offshored". We cannot allow tens of billions of dollars of our national wealth to continue to be transferred into foreign hands every single month.
It is common to limit questions of the world economy exclusively to human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.
However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy, since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government.
Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms ofreal US dollars or euros. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 7.01 billion people have most of their economic activity reflected in these valuations.
In 2011, the largest economies in the world with more than $2 trillion, €1.25 trillion by nominal GDP were the United States, China, Japan, Germany, France, the United Kingdom, Brazil, Russia, and Italy. The largest economies in the world with more than $2 trillion, €1.25 trillion by GDP (PPP) are the United States, China, India, Japan, Germany, Russia, the United Kingdom, Brazil, and France.
Share of Global GDP PPP (%)
Region
|
1950
|
1960
|
1970
|
1980
|
1990
|
2000
|
West Asia (15 economies)
|
2.0
|
2.3
|
3.0
|
3.8
|
3.4
|
3.7
|
East Europe (7 economies)
|
3.5
|
3.6
|
3.4
|
3.4
|
2.4
|
2.0
|
Africa (57 economies)
|
3.8
|
3.6
|
3.6
|
3.6
|
3.3
|
3.2
|
Latin America & Caribbean (47 economies)
|
7.8
|
8.1
|
8.3
|
9.8
|
8.3
|
8.4
|
East Asia (10 economies)
|
10.4
|
12.6
|
15.2
|
17.5
|
22.5
|
26.5
|
Rest of the World
|
64.4
|
61.9
|
58.5
|
53.3
|
50.7
|
45.4
|
1980 – 1990 - European Union, United States and Japan lead expansion
At exchange rates, the economic output of 112 markets expanded by $10.7 trillion from 1980 to 1990. The economic output of 34 markets contracted by $276.9 billion from 1980 to 1990. The five largest contributors to global output contraction are Argentina at 24%, Saudi Arabia at 17%, Nigeria at 11%, Venezuela at 8%, and Vietnam at 8%. At purchasing power parity, the economic output of 145 markets expanded by $12.1 trillion from 1980 to 1990. The economic output of 2 markets contracted by $3.5 billion from 1980 to 1990. The two contributors to global output contraction are Lebanon at 70% and Libya at 30%. The following two tables are lists of twenty largest economies by incremental GDP from 1980 to 1990 by International Monetary Fund.
1990 – 2000 - United States dominates expansion
At exchange rates, the economic output of 122 markets expanded by $10.7 trillion from 1990 to 2000. The economic output of 29 markets contracted by $94.2 billion from 1990 to 2000. The five largest contributors to global output contraction are Italy at 37%, Finland at 18%, Bulgaria at 9%, Algeria at 8%, and the Democratic Republic of Congo at 5%.
At purchasing power parity, the economic output of 148 markets expanded by $16.9 trillion from 1990 to 2000. The economic output of 3 markets contracted by $17.8 billion from 1990 to 2000. The three contributors to global output contraction are Bulgaria at 64%, the Democratic Republic of Congo at 29% and Sierra Leone at 7%.
2010 – recovery
At exchange rates, the economic output of 148 markets expanded by $5.3 trillion during 2010. The five largest contributors to global output expansion are China at 17%, the United States at 10%, Brazil at 9%, Japan at 8%, andIndia at 5%. The economic output of 35 markets contracted by $338.5 billion during 2010. The five largest contributors to global output contraction are France at 22%, Italy at 18%, Spain at 17%, Venezuela at 10%, and Germany at 7%.
At purchasing power parity, the economic output of 169 markets expanded by $4.2 trillion during 2010. The five largest contributors to global output expansion are China at 25%, the United States at 13%, India at 10%, Japan at 5%, and Brazil at 4%. The economic output of 14 markets contracted by $17.8 billion during 2010. The five largest contributors to global output contraction are Greece at 67%, Venezuela at 19%, Romania at 5%, Haiti at 3%, and Croatiaat 2%.
IMF's economic outlook for 2010 noted that banks faced a "wall" of maturing debt, which presents important risks for the normalization of credit conditions. There has been little progress in lengthening the maturity of their funding and, as a result, over $4 trillion in debt is due to be refinanced in the next 2 years.[9]`
While there have been some encouraging signs of economic recovery, especially in the United States, the global economic growth seems to be losing momentum. According to the IMF's World Economic Outlook report puplished in April 2012, "global growth is projected to drop from about 4 percent in 2011 to about 3½ percent in 2012 because of weak activity during the second half of 2011 and the first half of 2012.
Top 10 Richest in the World
10. Christy Walton – $34 billion
She is the widow of John Walton, the son of Sam and Helen Walton. Her husband passed away in 2005. She is considered to be one of the greatest female philanthropists in the world.
9. Vladimir Putin – $40 billion
He is the Prime Minister of Russia. He was also its former President who led the country’s economic transformation. Though critics question his human rights record and foreign policy making, he has remained popular with its citizens.
8. Larry Ellison – $43 billion
He is the co-founder and Chief Executive Officer of Oracle Corporation, one of the leading enterprise software companies in the world. He is also the owner of 98 percent of Lanai Island in the state of Hawaii.
7. Charles Koch – $43 billion
He is the co-owner, Chairman and CEO of Koch Industries, Inc. The company is involved in oil refining, chemicals, minerals, fertilizers, polymers, fibers, pollution control equipment, commodity trading and others. He is also a co-founder of the Cato Institute.
6. David Koch – $43 billion
He is the co-owner and Executive Vice President of Koch Industries, Inc., which is considered to be the second largest privately held company in the United States. He once ran for the vice presidency of the United States in 1980 as a member of the Libertarian Party.
5. Ingvar Kamprad – $49 billion
He is the founder of IKEA, a company that sells household items known for its low prices and cost-saving measures. He started out selling matches before he expanded to ballpens, decorations and seeds. IKEA was born after he added furniture to his items for sale.
4. Warren Buffett – $53.5 billion
He is the majority shareholder, Chairman and CEO of Berkshire Hathaway, the most expensive stock to own in the world. He is considered to be the most successful investor of the past century. He is also a noted philanthropist as he is committed to giving away 99 percent of his wealth to charitable organizations.
3. Amancio Ortega Gaona – $57 billion
He is the co-founder and Chairman of the Inditex Group, a Spanish fashion and clothing merchandiser. The company boasts of brands like Zara, Massimo Dutti, Tempe, Stradivarius, Pull and Bear and Bershka. He is considered to be one of the richest men in Europe.
2. Bill Gates – $67 billion
He is the co-founder and Chairman of Microsoft, the largest personal computer software company in the world. He stepped down as its CEO in January 2000. He has been involved in philanthropic work the past few years, establishing the Bill and Melinda Gates Foundation in 2000. The foundation has been mostly involved in the alleviation of poverty around the world through the promotion and uplifting of education and health care standards.
1. Carlos Slim Helu – $78 billion
He is a Mexican investor and philanthropist. He is the Chairman of Grupo Carso, SA de CV, a conglomerate that has substantial holdings in a variety of Mexican companies. He is also the Chairman and CEO of Telmex and AmericaMovil. The latter is one of the largest mobile phone carrier in Latin America. He is also the Chairman and CEO of Samsung Mexico. He has been the richest person in the world since 2010.
Minaxi Saxena [ MBA (Banking & Finance)]
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ICICI Bank
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Be an Aviator Not a Pilot
is a story of Pilots in Aviation who are unable to cope. This is not a book to teach you how to get into an Aviation School or even how to live like a Pilot. In fact, it describes how one can become a Successfull Aviator not just an Airplane Driver [ So called Pilot ] with very small changes in life. Also Why abroad trained Pilots are better Aviator and Why FAA, CASA, CAAP, CAA are better civil Aviation Authority then DGCA.
by
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Ankisha Awasthi
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Words: 2,160 (approximate)
Language: English
ISBN: 9781301001965
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Published: Aug. 23, 2013
Words: 22,870 (approximate)
Language: English
ISBN: 9781301432448
Words: 22,870 (approximate)
Language: English
ISBN: 9781301432448
Be an Aviator Not a Pilotis a story of Pilots in Aviation who are unable to cope. This is not a book to teach you how to get into an Aviation School or even how to live like a Pilot. In fact, it describes how one can become a Successfull Aviator not just an Airplane Driver [ So called Pilot ] with very small changes in life. Also Why abroad trained Pilots are better Aviator and Why FAA, CASA, CAAP, CAA are better civil Aviation Authority then DGCA.
by
Shekhar Gupta
Ankisha Awasthi
Be An Aviator not A Pilot
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Price: $20.00 USD. Approx. 25,040 words. Language: English. Published on July 13, 2013. Category: Nonfiction.
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Cabin Crew Career Guide
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