Current Trend of Global Economy after Globalization

Due to Globalization, the current global economy has become a level playing sector for all countries. In world news, interaction between the developed and the developing countries in the field of trade has made the growth more consistent. Also, exchange of technological know-how has helped people in understand the consequences of business and how to overcome them. In past few years world as seen a significant growth of real Gross Domestic Product (GDP) in most countries and a following rise in the global income levels. Globalization has provided an opportunity for domestic producers to expand and emerge their business on global platform. As per latest international news, the current trend of the global economy has also provided consumers in choosing products and services from a wide range of local and imported commodities.After globalization world economy has changed a lot. Studies on current global economy evaluate its important features as described below:In global news sections, economic growth is often associated with high inflation levels and it has often been the case in recent years for the current global economy. In recent years economies of US and Japan has shown an upward growth trend thus making current global economy in a relatively stable stage. With US economy on a healthy growth rate most of the businesses are growing rapidly. However, this rate of growth could not be persistent due to the constant rise in global oil prices and the widespread devastation caused by hurricane Katrina in world news. Adoption of sound monetary and fiscal policies by the US Government has once again brought back stability to the growth rate. Japan on a global economic platform has experienced a major boost with phenomenal growth rates. Its long trading partner, China, as well as co-operation pacts with India has developed its economic stability. After recession, Europe has also seen marginal growth in its economy offering possibilities of business in the country. Yet some countries of the European Union recorded unfrequented rates of growth. The “dollarization” of world currencies, has helped economies measure its currencies against the US dollar. International news states that dollar which was especially strong in the 1990’s has gone through depreciation and appreciation for past few years. At the same time, Indian Rupee has also shown positive signs of appreciating against the dollar. Other world currencies such as the Yen and Euro have been relatively stable over the past few years. But still globalization faces certain issues like rising income inequality in developing economies like India, China, Brazil and Uruguay. The current Doha meet on such issues has certainty of applying soon worldwide for maintaining equilibrium among developing countries.