Sunday, June 14, 2009

Change. That is the primary effect of the Obama presidency to the rest of the world. Be it good or for the worse. This time, there will be a more subtle but hit-to-the-core America that will propagate justice, freedom and diversity. The Obama presidency will create a rippling effect to other countries in terms of how the administration will face its woes. Mainly, the rest of the world will see the effects of the domestic change that the Obama administration will create in America. the effects on the American economy will be surprising that other nation leaders and its citizens will follow shortly how the Obama administration did it.

Third world countries mainly rely on other First World countries for jobs, exports, trading and investments. But as the financial crisis brought its toll, many Third World countries are experiencing the aftershocks. Jobs are lost due to companies declaring bankruptcy, thus creating major domino effect to other companies. Investors, who mostly come from First World countries, are saving all their money contributing to the continuing decline of the world markets. On the other hand, First World countries are now trying to stay afloat in the world market. Even ordinary citizens are doing their share of saving, spending less, and even eating organic! While it is a whole new feeling of stock market decline in First World countries, this kind of feeling has almost always been there for citizens of Third World countries. If there is one thing that Third World citizens have learned from the recession it would be the harsh truth of what more can we take on.

No comments: