U.S.’s poor economy has international effects
April 6, 2009
The United States’ current economic state has been negatively affecting other countries.
Assistant economics professor Mohammad Mirhosseinisaid the United States is connected with several countries.
“The U.S. has financial ties to European, Southeast and Persian Gulf countries,” he said.
Mirhosseini stressed the importance of these ties.
“Because of the ties involved with American companies, any recession or prosperity made affects other countries a lot,” he said.
Mirhosseini said importing and exporting involving the United States is another way other nations can be hurt.
“People here are not buying as much and are therefore importing less from other countries,” he said. “And this affects these countries because they are not making as much money from those imports.”
He said some countries like Iran are affected by the United States indirectly.
“Because of the recession, there is a smaller demand for oil,” he said. “With less demand, Iran is affected by the price of oil dropping, hurting them.”
Associate economics professor Neelam Jain said everybody should care about what is happening around the world.
“People have to be concerned about what’s going on in other countries because it affects them as well,” she said.
Jain thinks there are some things the United States can do to fix this problem.
“The United States can use the World Bank, which could strengthen the international interaction,” she said.
Jain also said other countries besides the United States can also help themselves out.
“These countries can push for less protective measures over their economy and keep the trade flowing,” she said.