World Economics: The BBC Examines The Impact of Ebola on Some of The World’s Most Impoverished Nations

A recent BBC article explores life in West Africa after the recent Ebola virus epidemic. The devastating disease created widespread fear. Yet it also exerted an economic impact over the region.

Poverty

The BBC news article described daily life in three struggling nations: Liberia, Sierra Leone, and Guinea. The report concentrated on residents of the slum district of West Point in Monrovia. In the wake of the epidemic, some survivors have thrown themselves into work as they seek to recover from painful personal losses.

Seeking Prosperity

Several people who lost loved ones during the Ebola quarantine now manage small enterprises. Rita Carol invested in a refrigerator, which she uses to sell ice to neighbors. Eva Nah used compensation she received following the death of her grandson during a quarantine protest for tuition for four other young relatives. Slum dweller J. Roberts, a widower after the epidemic, began a business selling heated water. He also rents washing booths so neighbors can bathe. He hopes his small business will support a better life for his four children.

Better Health Care

One byproduct of the tragedy involves improved disease monitoring. This effort in Monrovia now obtains greater funding. A medical facility established to care for Ebola patients still employs a nursing staff. It treats other widespread conditions, such as scabies and malaria. Founded by Reginald Kahweh (who lost both his parents to Ebola), the Kahweh Clinic improves the daily quality of life for many Liberians.

Cybersecurity Was A Main Topic At The World Economic Summit

The Internet of Things (IoT) connects the physical world with the digital world. It is the intersection of economics, technology, and social imperatives. The Internet of Things is always a topic of conversation in industrial conferences, but the recent World Economic Forum in Davos, Switzerland put a lot of emphasis on the topic. The word Superpowers is taking on a whole new meaning on the world economic stage. Superpowers are not just the nations that exert influence on global issues. Superpowers are now the technological superpowers like mobile technology, artificial intelligence, the cloud, and the IoT imperative.

There were several panel discussions about cybersecurity as well as corporate priorities at the Davos conference. A recent estimate claims industrial IoT will add $14 trillion in economic value to the world’s economy by the year 2030. But the cybersecurity piece of the IoT imperative is the piece that got a great deal of attention at the Davos Forum. In the 1950s, a single industrial control system breach would impact a single plant. A single breach today will create global ramifications.

The Davos conference was the perfect setting to discuss not just the advantages of using the Internet of Things, but it also was the backdrop for discussing system vulnerabilities. And the potential for some of those vulnerabilities to become weapons. Standards for cybersecurity must be in place. And insurance companies must play a role in that security in order to create a culture of cybersecurity, according to members of the Davos Forum.

How Trading Schools Can Be Successful

If you want to be a successful Trader, and you do not have any experience yet, then you have a problem. The problem is that there are not that many schools that you can go to to become a successful trader. There are no programs and schools like there are for athletes that you can attend. As a result, many traders end up failing. However, there are a few financial schools that teach trading. For such a school to be successful, it needs to have the following components.

First, there needs to be a structured curriculum. To see how this is necessary, take a look at how medical schools are structured. First, students learn about the science of the medicine. They then attend advanced programs that help them develop hands-on skills through observation and assistance. Trading schools should have various stages of development.

Another component can be taken from athletics. For athletes to be successful, they need to have a coach. Having a mentor and a personal trainer can help traders be successful.

Traders also need to be familiar with trading terms. For beginners, trading terms can be complex and confusing. A trading school should teach beginner traders all the various terms. Medical schools need to do the same thing with medical jargon.

Trading schools might want to consider only including qualified students who possess the skills to be successful. Alternatively, they can create separate programs for high-level students.

World Economics is Driven by Central Banks and Global Banks

We tend to think that the large banks in today’s business world are the ones that have the global financial power. They have influence that span across many nations. However, they’re not as powerful to control world economics. The true captains of economic policies and world economies are the central and global banks such as the World Bank and the International Monetary Fund (IMF).

The Washington Consensus developed laws that granted these organizations the global influence they have today to control world economics. The consensus includes ten economic policy recommendations aimed at guiding economic development for developing countries. These institutions therefore interfere in affairs of developing nations and economic policies. Recently, China also attempted to redirect global trade domination with its own Beijing Consensus Initiative – One Belt, One Road.

Initially, central banks main task was issuing currency with no connections to governments. But since the 18th and 19th centuries, their roles have evolved after switching from currency exchanges to banknotes printing which granted them more monetary freedom for themselves and their governments. There have been debates to allow central banks to draft monetary policies away from politics and political pressure, and many are termed independent institutions. Still, their governments actively influence central bank’s policymaking. For instance, South Korea in 2014 had the government put enormous pressure on the Bank of Korea to reduce interest rates for an increase in economic growth. The initiative was indirect by the government, but it changed the monetary policies

Latest News Concerning the World Economics and Economic Policy

World economics is the global trade of goods and services in the form of cash. At times, some people refer global economy as the global or international financial system. The rise or fall of the economy is the determining factor for the expansion of international businesses. Consistent stock exchange results in the quick development of the world economy.

Economic policy is the steps taken by various governments in the world to venture into the trade and industrial fields. Additionally, it involves setting heights of interest rates, labor markets, national budgets, tax variations and supply of money. Economic policy is majorly for the thriving of the world economics. Hence, a well set economic policy results in a tremendous growth of the global economy.

Top World Economies

Currently, United States has the best economy in the world. However, its position is lately in a threat by the China’s fast growing economy. The advanced technology, plentiful natural resources, and outstanding infrastructure are the factors that have made U.S feature out as the superpower of the world economy since the beginning of ranking in 1871.

According to the 2017 estimates by the International Monetary Fund’s World Economic Outlook Database, the top ten world economies include United States, China, Japan, Germany, United Kingdom, India, Brazil, Italy, and Canada simultaneously. The nominal rates of the ten economies contribute more than half of the world economy.

China’s Rise and Threat to the World economic Superpower

For the last 30years, the economic development performance of China has been impressive. According to the World financial analysis, China posted the highest gross domestic product surpassing the U.S economy in 2014. Since then, it has been a significant threat to the United States.

United States Financial Plan to Raise Their Economy

The stiff competition from various nations like China makes the U.S economists come up with new unique economic ideas. Currently, they have come up with a strategic plan to improve their economy. The method includes inoculation of capital for the banks to absorb unpredictable losses and to open out Fed’s program to sustain lending of services to the consumers. U.S focuses on maintaining their pace as the economic giants in the globe.