Economic Growth Speech.docx - Economic Growth Speech...

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Economic Growth Speech Alexandra Concordia 4/5/17 Gr. 10 Once the economy in the U.S. started a decline economies around the world started to feel the impact too. By the end of the year 2008, Germany, Japan, and China were all stuck in recession, along with numerous smaller countries. Many countries in Europe were overexposed to American real estate securities that were much riskier then they appeared. Japan and China were able to avoid too harsh of a drawback, but their export-oriented manufacturers took a toll as recessions in their main markets, the U.S. and Europe, cut deep into the need for their products. Less-developed countries also lost markets abroad, and their foreign investment, on which they had trusted for growth of their capital, weakened. With none of the biggest economies growing, there was no clear engine to pull the world out of its recession, and both government and private economists foretold a tough recovery. Although we can’t go back and change the damages done we can try to fix the problems it’s causing to the best of our ability. There is no simple solution to this issue. A global crisis entails extreme cooperation amongst countries with
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