Disparity in the Global Economic Crises
The global economy is connected, with ripple effects and consequences. The economy of all countries is connected and dependent on each other, which means that when one suffers, the others would definitely feel the impact, The state of the global economy is general unstable, however, not all nations share the same fate when it comes to economic stability.
The global financial system continues to dwindle in the current crises and economic downturns; no one is safe from its effects on our general existence, but the truth is that some countries feel the brunt of this economic downturn way more than others. I remember complaining about the crazy inflation I face in my country to a friend, he said it is the same everywhere; but not really.
This piece does not seek to engage in suffer-head Olympics, but to simply call it as it is. My country prior to this crises was already geared in the direction of doom, the situation has now been raised to power ten. The masses are suffering; people can barely afford food. Families are struggling and doing their best to cut cost and ration their ways out of the madness but it is impossible at this point.
Every market day ushers a fresh surprise. You can’t go to the store today and expect to purchase items at the same price as yesterday. The economic structure and governance we have is weak and inefficient on so many levels. It is practically impossible for us to withstand the storm that plague us.
It also happens that the impacts of the global market dynamics has a bigger effect on smaller economies in situations like this.
We have failed to enact sustainable policies that should protect us in situations as this; so we must suffer. The impact of this seemingly unending crises is enormous and quite unpredictable at this point. The distribution of resources among members of the society is grossly unequal. The gap between the rich and the poor continues to widen; right now there is no such thing as the middle class, just the rich, the poor, and the abjectly poor.
Every sector from governance, politics, corporate, and families is distressed and unstable. Migration is at an all time high as everyone with access to means resource just wants to get out. Because despite the fact that the world is global experiencing this financial crises, some nations just have it worse.
Conclusion
The disparity in the effects of the current financial crisis is profound. The poorer countries are getting poorer. Sadly, this works to the advantage of the richer nations as the poorer countries are forced to downplay their capacities; for instance devaluing the worth of their currencies in order to import goods. All due to inflation, trade imbalances, etc.
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