The ways to make changes to betterThe ways to make changes to better

The United States plays a big role in the global economy changes throughout time. As the global economy grows, other countries are always looking for ways to make changes to better both our economy and their economy. In the past, the US had varying degrees of intervention in the global economy by identifying the global power, increasing foreign investment, and then getting involved with trade, politics, and joint interests. Nowadays, some countries, like the US, specialize in making a certain product to trade off to other countries in return of getting something they need. We also have made trade agreements with NAFTA which has opened the gate to more trade opportunities and reduced tariffs for the US, Mexico, and Canada. In the future, countries have to find ways to overcome obstacles and improve economic development. The plan to do this is by offering grants and continue to trade with foreign countries. The plan is to convert the economy to capitalism by reducing the government’s power and make incentives for people to produce, buy, and invest. Other countries on the other hand, are obtaining goods and services by an outside or foreign supplier with lower costs. To change their economic system, countries could “replace capitalism with a system based on social ownership, equal human entitlement and workplace democracy.” Also, electing representatives to represent your corporation, and rebuilding the tax system. Countries could come together and speak up to the government if we believe a change should be made. Standing up for what you believe in is important, especially if you want to see a change. The plan for the future is to make a roadmap for future plans for trading with other countries. Also, encouraging the US to start a business in other countries. To do this, they must make America more appealing, so that another country would want one of our businesses in their country. By doing this, getting more business worldwide would help improve our economy. Realizing that there are challenges of growth and participation in the global economy, the countries have to react. First off, “International Monetary Fund launched after WWII to provide emergency loans to countries with temporary balance-of-payments problems.” Then, The World Trade Organizations were created to help settle disagreements between countries. With the creation of these two very important programs, the global economy is still running smoothly. Thinking about the future, NAFTA had a big impact on our economy and if it continues we will continue to trade with other countries. Without NAFTA, there’s a possibility that more jobs would be available for people because instead of relying on other countries to make the things we need, we would have to make everything ourselves. This would make the prices increase of the goods as there would be less supply and more demand for them. On the other hand, more jobs could be lost because of the increase of technology. Technology based robots or machines will cover the jobs of people. This may be both beneficial and a disadvantage because the machine may work faster, but if the technology or machine breaks down..who’s going to perform the task? Twenty-five years from now, I think we will have made America more appealing and we will have businesses in other countries. I also believe the tax system will change as there was already a tax plan made by Trump.