Analyzing the world economic marathon competition between industrialized nations requires understanding its motives, functioning, priorities, and downfall.
As dictated by capitalism, the motives of world economic powers are more commanded by propaganda. This marathon is a run for what is hot (what is famous). It is in other words a showing off competition, or at least that is what it turns out to be. Initially, ambitious greedy projects are put in place aimed to capitalize on people urge for vanity: everyone yearns for a piece of luxury. The bar of expectation is set to a level that is reachable only to the few, and false hopes are advertised to the many. Unfortunately, things do not always turn out as planned. For that reason, we are faced with big economic bubbles with high insolvency ratio. But, instead of pulling away, pride keeps politicians bounded and committed to their engagements, sometimes for GDP' sake. However, GDP though widely or internationally considered a tool of measurement for national wealth can be very deceitful; as always, the poor are left to pay the price. Ex: The USA (Housing bubble), China (Construction bubble)...
The functioning of world economic marathon is played out with two essential tools: military power, and GDP. Military power implies the ability to influence national stability, and it is based on weapon capacity as well as enlistment potential. GDP is taken in consideration only after military authority has been proven. GDP or gross domestic product is the primary indicator used to gauge the health of a nation’s economy. It is simply is the total dollar value of goods and services provided within a specific period of time. The GDP never reflects the economic truth, first because it split National Income evenly among the people, (when the big slice of such income is made by the few), and it does not account for the black market…
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