IB Economy,Philips

The United States of America (US or USA) is the largest and most important economy in the world. In 2010, The US economy was responsible for 20.218 percent of the world’s total GDP (PPP) or US$ 14.624 trillion.

They are facing a financial criysis since WW2.The usa is unable to recover from 2008,which was the worst Economy Crysis,Like that from the great depression,On the other hand,they must pay alot of dept to other countries.Especially china,USA owe them alot.Which causes USA to grow slowely.

It will affect us because,if the country earn less,the prices may rise,so the government can get right on track again.

Domestically, the US economy’s frailties were cruelly exposed during the 2008 financial crisis. The US economy has found it harder to recover from the 2008 financial crisis, believed to be the worst financial crisis since the Great Depression, as compared to previous downturns. Consumer confidence within the country is at all time low, perpetuating the slow economic growth since 2008.

tourism in Germany

 

In the recent day,the president of Germany and France.Both president and councellor decided to raise money to fund it to greece to prevent an euro crysis,like the one in 2008,to be able to do that,the banks of both countries must be able to have money for their own needs as well.The banks must be also willing to spent money. So the President of france Sarkozy and the councellor Merkel met in berlin,they gathered to dicuss about that.
It will affect us,there might a change in currience,different countries must change to their own one.this will cause alot of panic.The banks have to work alot.Their old currencies would have to be resurrected and Euro reserves converted back to the mix passed to the European Central banks from the beginning of the Eurozone.The world's Foreign Exchange Markets would be in chaos,The dollar will go high and the yuan as well.