Global Financial Crisis Essay
858 Words4 Pages
Starting from problems of payment defaults on housing loans (subprime mortgage defaults) in the United States (U.S.), then ballooned damaging crisis of the banking system not only in the United States but extends into Europe and into Asia. Successive cause a domino effect on the solvency and liquidity of financial institutions in these countries, among others, led to the bankruptcy of hundreds of banks, securities firms, mutual funds, pension funds and insurance. The crisis then spread to parts of Asia, especially countries such as Japan, Korea, China, Singapore, Hongkong, Malaysia, Thailand, including Indonesia, which happens to have long had the letters beharga these companies.
From the various critiques by experts, that the problem is…show more content…
Lehman Brothers announced a gradual loss before finally bankrupt. On June 16, 2008, the company announced losses worth 2.8 billion dollars for the second half of 2008. Followed by losses of 3.9 billion U.S. dollars in part-to-three in 2008 (10 September) and culminate in the announcement of bankruptcy on September 15, 2008. Similar unrest was also experienced almost simultaneously by Merryl Linch, Citigroup, AIG and other large financial institutions.
This affected the weakening of the real sector with the bankruptcy of major U.S. companies like General Motors, Ford, and Chrysler that threaten the continuity of work thousands of employees. Sure enough, the U.S. unemployment rate rose to 6.7% in line with the increase in pessimism among consumers and investors throughout the period from September to November 2008. That is the level of termination of employment (FLE), the largest in the last 34 years. Carrying 533 000 employees laid off and reached a total of 1.91 million persons in 2008. (Source: U.S. department of labor). Along with that, on 30 November 2008, the U.S. government also announced a decline in the value of real GDP for part III in 2008 amounted to 0.3%.
Likewise, also in Europe, the banking crisis in Europe was marked by problems at a small bank in the UK, namely Northern Rock Bank, in mid-2007. Northern Rock is a true small-scale private bank in the UK. However, when there broke down in
Global Health Crisis Essay
1757 Words8 Pages
The global health crisis has been a major problem in recent years, probably the worst it has been in modern history. The least developed countries are the main victims of this problem, and many people believe that more powerful developed countries are not doing enough or helping out to try and eradicate this problem. The most deadly infectious diseases that are taking over the populations and killing millions of people are malaria, pneumonia, tuberculosis, HIV/AIDS, influenza, diarrheal diseases such as cholera and dysentery, and respiratory infections. These diseases are seriously threatening the political and economic structures of many LDC's, such as South Africa, Latin America, South and Southeast Asia. These infectious diseases…show more content…
We need to recognize these diseases as a common threat that has been ignored for a long time at a very high expense, and they need to be confronted3.
Because of increased travel and trade it also affects our country, and by helping the LDC's the US would also help itself by stopping the spread of diseases worldwide. Many infectious diseases, the newest one to note being the West Nile virus, originate outside of US territory and are brought in by international travelers, immigrants, returning US military personnel, or imported animals and foods 4. The US needs to give money and vaccines to other countries more then it is now in order to stop the diseases from entering. The US cannot just sit by and let other dies when we have the medicines and the technology to help these people who have no means by which to escape from this problem. If the US is able to set them in the right direction they could be better off and in the end we could be better off as well. These people would not be spreading the diseases in as large an amount as before. "New and reemerging infectious diseases will pose a rising global health threat and will complicate US and global security over the next 20 years. These diseases will endanger US citizens at home and abroad, threaten US armed forces deployed overseas, and exacerbate social and political instability in key countries and regions in which the United States has significant