Question

Reflect upon the many economic issues being discussed in the news as they relate to you, your future, and your family. Pick 2 issues that you find the most interesting and do a bit of research on these issues. Potential issues may include the labor market for your field, unemployment insurance, minimum wage legislation, Social Security, Medicare, Medicaid, Food Stamps (and/or other “safety net” programs), the income/wealth distribution, college costs, workers’ rights, environmental legislation (yes, economics relates to this), free trade v. “fair trade,” the National Debt, or others. You might also choose a topic that hits closer to home, such as the Transportation funding in Wisconsin (Note: some of you might feel strongly about certain social issues, but try to stick to topics that can be analyzed using economics.) find at least one recent article related to both of your 2 topics.

Then,

briefly summarize the 2 economic issues that are most important to you (citing information from the articles you read), explain why these issues are important to you, and discuss some of the related challenges. Then, make a connection to a concept. End your post with a thought-provoking discussion question related to one of your issues.

Answer 1

North , East , West and South, News is from every corner of Planet’s Life. But what encroaches human hearts the most is Financial and Livelihood aspect of given News . i.e the Economical arena.

No sole economic Issue or News Exists in isolation, it is Pixel of Economic Picture . All issues and economic activities are larger de[pendent and contemporary of one other .

But the TWO most Heard and Hit economics Topics tag can be bestowed to

1.Free Trade v. Fair Trade .

2.Income / Wealth distribution.

Free Trade v. Fair Trade .

Article: US-CHINA Trade war

The most eyebrow Raising concern for Integrated World Economics is the ongoing Trade Tussle between the two most Powerful nations . Adding to this is recent Pandemics changing the way Trade is transacted on planet. The Tariff Exchange is costing the world , the smaller business units and impact can also be absorbed on Consumer Surplus.

Quoted unquoted

“The ongoing economic conflict between China and the United States. President Donald Trump in 2018 began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are "unfair trade practices". Among those trade practices and their effects are the growing trade deficit, and alleged theft of intellectual property and forced transfer of American technology to China. In response to US trade measures, the Chinese government has accused the Trump administration of engaging in protectionism .The two sides reached a phase one agreement, but tensions persisted. A 2019 report from Bloomberg Economics estimated that the trade war would cost the U.S. economy $316 billion by the end of 2020” .

In Name of Free Trade Both Nationals are Risking the Concept of fair Trade and Practices . The Political and economic Vendettas are costing the world Trade by disrupting the global demand and supply chain.

The War Started on Trade front is now opening door for political and territorial conflicts as well .It is no more a Competition among two nations but has turned into full fledged Championship among world Economics . The Groups formation and Isolation Practices , Trade restrictions , Dumping of second Graded Good and torturous treatment to foreign business is all the great concerns for Principles of free and Fair Trade.

Protectionism comes with price . we as global citizens and the US and China as global torch Bearer of trade must be made answerable to global economics whether “ ARE WE READY TO PAY THE PRICE FOR THIS”?.

Income / Wealth distribution.

Article : Here’s a wild statistic: The 26 richest people on earth in 2018 had the same net worth as the poorest half of the world’s population, some 3.8 billion people.

That statistic, which comes from the charity group Oxfam, is a bit of an annual tradition. Every year, to mark the World Economic Forum in Davos, Switzerland — that yearly convocation of the world’s richest and most self-important plutocrats — Oxfam puts out a statement that “the top [X] people have the same amount of wealth as the bottom” . quoted unquoted .

Nothing is more criminal to humanity that Income Inequality and uneven wealth distribution .

Earths belongs to all and do its resources , but the wealth out of theses resources is confined to few. The current pattern of wealth of world shows that rich is getting richer by day poor has same story but downward.

The questions the world agencies and countries must answer today “ IS THERE ANY GROUND FOR THEIR TALL CLAIMS And if YES then Explain the reasons for the Slopy Foundations of such claims ?

The worlds need to understand time and Trade waits for no one . And both Play by their own principles.

Hence free and Fair Trade are the highways for Equal Wealth Creation and Distribution . Humas first and Hustles for being hero