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Global Economic Situation and Effect on the U.S.

In regard to the statement, "The global economic situation, if not controlled at present, will continue in the future and diminish the capability of the United States and its businesses to compete at a global level" answer the following questions with 1-2 references.

What do you think should be controlled?
Why should it be controlled?
And how should it be controlled?

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What do you think should be controlled?

-- The above statement is true. The global economic situation is not presently controlled, and it will continue diminishing the capability of the United States and its businesses to compete at a global level. There are a few different uncontrolled variables that are present. First, we have the issue of natural resources starting to become exhausted in poorer, underdeveloped countries. Once natural resources are located in a country that is underdeveloped, that country is shown (largely by the U.S.) how to tap those resources. The U.S. and other countries are then able to begin trading with that country, and engaging that country in free trade. The problem is that the developed countries turn to the poor country as a main resource, due to the lower costs associated with tapping natural resources in that country. Unfortunately, it usually turns into premature depletion of the resource, because the poorer country does not have the means to put strategies in place that protect that resource. It's given out- out - out through trade with no steps in place to safeguard the surrounding environment. For example, in developed countries where oil may be a natural resource, there are strategies in place where the drilling, processing, etc. of that resource are very controlled, so as to not ...

Solution Summary

This solution explains the global economic situation as per the question presented. The elements of control, including what should be controlled, why those elements should be controlled, and methods of control are all discussed.