World trade growth has fallen from 2012 to 2013. It is
expected to remain slow in 2013. It should remain at around 3.3% as Europe’s
economy continues to slow down. With this happening, it will suppress global
import demand. This sharp slowing was created by the slow growth in developed economies
and the uncertainty of the future of the euro. While America’s economy will see
some improvement, this will not be enough to pull the rest of the world’s
economy up. One economy that will help
cushion the blow will be China’s. But even then it will not be enough. It
appears that 2013 will be a repeat of 2012. Both trade and output will be slow.
This is an issue to all economies. Economic growth means more jobs and less
unemployment. But in this situation there will be fewer jobs on the market and
unemployment rates will rise. Unemployment rates create more poverty for a
community. We have talked about economic crises in our class. Finding a job is
very difficult in these times and within the next year there are signs of it become
more and more difficult. We all must contribute to boost our economy. By
working hard at the jobs that we do have, we are contributing to our economic
growth. Also the trend of early retirement slows down growth rate. Some people
are retiring as young as thirty and forty, yet others who are not as fortunate
have to work until they are 80. This trend is very unfair.
1:39pm
4/12/13
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