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In my opinion, the policies that must be implemented in the following period of time should take into consideration economic stagnation, and not economic evolution.
The crisis currently affects the real estate market. Then, it will affect the energy market. Eventually, it will affect the food market. In my opinion, the bailouts that everyone complaints about are not such a negative action.
Even if it does not seem fair to pay for other people's mistakes and greed, these bailouts will probably be responsible for saving thousands of jobs domestically and internationally. However, if the bailouts will be used for bonuses, than this measure will obviously not produce any real, positive effects, but it will create more friction among the population.
The measures discussed above regarding the reduction of poverty also apply here. However, such solution cannot be implemented in a short period of time. Their effects will also come in a medium term or long-term. It is also very important to have political will. This is probably the hardest objective to achieve. Without political will, the economic and financial strategies that must be implemented will not produce the required effects.
Saudi Arabia is a very sensitive region. The country is in full development...
The crisis probably does not manifest there like it manifests in the rest of the world. As a consequence, it would be very difficult to convince them and similar countries that we should unite our efforts in order to fight the crisis and diminish its effects. This would mean that these countries would have to modify their politics and policies and to not focus so much on wealth maximization.
Reference list:
1. Thoumrungroje et al. (2007). Globalization Effects and Firm Performance. Journal of International Business Research. Retrieved March 30, 2009 from http://findarticles.com/p/articles/mi_qa5539/is_200707/ai_n25417659.
2. Raphaeli, N. (2008). Saudi Arabia's Waning Influence on the Oil Market. The Middle East Media Research Institute. Inquiry and Analysis, No. 452. Retrieved March 30, 2009 from http://www.memri.org/bin/articles.cgi?Page=archives&Area=ia&ID=IA45208.
3. Urbanization and Globalization (2001). The United Nations. Retrieved March 30, 2009 from http://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN002543.pdf.
4. The Great Global Schemer (2008). The Washington Post. Retrieved March 30, 2009 from http://www.washingtonpost.com/wp-dyn/content/article/2008/07/16/AR2008071602453.html.
Reference list:
1. Thoumrungroje et al. (2007). Globalization Effects and Firm Performance. Journal of International Business Research. Retrieved March 30, 2009 from http://findarticles.com/p/articles/mi_qa5539/is_200707/ai_n25417659.
2. Raphaeli, N. (2008). Saudi Arabia's Waning Influence on the Oil Market. The Middle East Media Research Institute. Inquiry and Analysis, No. 452. Retrieved March 30, 2009 from http://www.memri.org/bin/articles.cgi?Page=archives&Area=ia&ID=IA45208.
3. Urbanization and Globalization (2001). The United Nations. Retrieved March 30, 2009 from http://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN002543.pdf.
4. The Great Global Schemer (2008). The Washington Post. Retrieved March 30, 2009 from http://www.washingtonpost.com/wp-dyn/content/article/2008/07/16/AR2008071602453.html.
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