Economic Recession
The emergence of an economic recession has significant challenges in the security of several nations. Countries tend to engage in trade wars when their economies are at risk of collapsing. Generally, a global economic recession presents challenges that leave countries in severe economic turmoil and in need of urgent strategies to save their financial abilities. One of the hardest-hit economic systems is the capitalist economic system, with countries looking at the strategies that the US employs to overcome such challenges. The solution to the global economic recession takes place through a series of actions aimed at solving problems such as unemployment, slow economic growth, and prolonged structural deficit.
A global economic recession presents severe challenges that grow beyond borders and nullifies the attempts by individual countries to overcome them. First, unemployment is rampant with cases of immigrations growing beyond the ability of the various countries to host the immigrants. The case of immigration is a common aspect in the US, with current administrations appearing to be against continued immigration under the claim that the government is over-burdened. Also, the economic growth rates for both developed and developing countries appear to have been hit by the economic crisis (Gevorkyan, 2015). Generally, assessing the rate of economic growth is made difficult by the fact that different countries prefer different economic growth rates. For example, developed countries witness slow economic growth compared to developing countries that are vigilant on the move to stabilize their economies. Moreover, the structural deficits of several countries have been an issue of concern due to challenges posed by the global economic recession.
The development capability of a country depends on its ability to raise funds necessary for the various development projects. The economic recession has seen several countries struggling to raise funds necessary to finance the development projects. Generally, deficits in structural projects show the extent to which a country is struggling to manage the impacts of the global economic recession and also acts as a factor contributing to further economic challenges (Beker, 2016). Furthermore, a country with insufficient structural developments struggles to stabilize its economy. Moreover, several goals, if properly addressed, can provide practical solutions to the issue of the global economic recession.
Global economic recession can be addressed through a series of goals that need to be developed strategically by the respective countries. First, unemployment should be addressed by setting up an environment that allows entrepreneurship to create job opportunities. Employment is an effective way of having continuously growing economies. Also, economic growth rates should be improved by investing in productive ventures. Countries need sufficient revenues to finance their development plans to keep their economies stable. Furthermore, the structural deficits in the various countries should be addressed to avoid further challenges to the already suffering economies. Generally, a strategic address of the various problems will ensure that countries do not have to deal with issues such as immigration.
Generally, the global economic recession can be addressed by coming up with strategies to address challenges such as unemployment, slow economic growth, and structural deficits. The world security agencies suffer from the fact that trade wars may quickly emerge due to the competition that comes up due to the need to overcome the challenges of economic crisis. Generally, the global economic recession requires strategic actions, and countries should aim at pursuing the goals that will address the factors leading to economic crises.
References
Beker, V. A. (2016). From the economic crisis to the crisis of economics. In Modern Financial Crises (pp. 183-199). Springer, Cham.
Gevorkyan, A. V. (2015). Economic crisis. Wiley Encyclopedia of Management, 1-5.