Introduction
The first thing that comes to mind when you hear the words “trade center world” is the 9/11 attacks that knocked down the twin towers located in New York City in the State of New York. A tragic day indeed for the many that lost their lives as well as the family members whose loved ones died in the attacks. The fall of the trade center world buildings brought trade to a stand still. The United Sates of America is a multi trillion dollar economy which has numerous other economies depending on it. Obviously these economies are not as big as the United States of America but they surely trade in large volumes. Globalization has revolutionized the trade sector and everything has become much more technical, fast and advanced. The trade center world attacks and the war on terrorism that followed has pushed the world into a depression. Mainly because of the reason stated earlier that many economies of the world trade with and thus depend upon the United States of America. When the biggest economy of the world suffers a set back, most of the world will definitely be affected.
History
Increasing globalization has integrated economies even more thus the link previously drawn has been reinforced by globalization. Every economy is linked to that of its trading partners and it is no secret that the United States of America does business with the world. Thus it is safe to say that the United States of America is still the trade center world. And with the recovery of the United Sates’ economy, doubts have been casted on its downfall. Once its economy will fully recover, it will be healthier and stronger as it always was.
Features
Even though most of the world fell into a recession a long with the United States of America after the attacks on the trade center world, most does not include everyone. Thus enters China. China is on the rise and among the few economies that are doing well despite the worldwide recession. China is using its newly acquired wealth wisely and is in turn buying up the United States’ debt in hopes of becoming the next trade center world. But this is considered to be a very far fetched idea to economics professionals today, although to the lay man it seems highly alarming as well as possible. Such speculation has affected the United States’ economy undoubtedly as the US Dollar decreased in value as well as other key currencies. But the dollar is back on the rise and thus such theories are once again being questioned.
Tips and Comments
Having confidence is one thing and believing in what you hear entirely different. In order to make smart investments, you need to be well versed about business and economics. The United States of America is considered to be the land of opportunity and many ‘rags to riches’ stories have emerged out of this economy alone, but the question to ponder over is that whether in the current situation, a multi trillion dollar economy that is interlinked closely to most of the top economies of the world be let to fall with no remorse?
