Question

Please interview 3 individuals: a business owner, a co-worker (or just someone with a job), and a student. Get their perspective on the economy, and the current trade wars. Assume you're president or prime minister of your country, what programs would you implement to stimulate economic growth/avoid a recession?

Your response should also include any insights you gain from the interviews, your actions and respond to at least 2 peer posts.

Answer 1

A business owner thinks that the economy is being affected due to trade war because of reduced business as input costs have risen and there is reduced demand.

A worker thinks that the wages are stuck at the current rate and inflation is high because of higher tariff on imported products.

A student thinks that education costs are high and feels threathened because of the uncertainty regarding jobs after graduation as there is global slowdown.

If I were the prime minister, I would first negotiate on the trade deal so that further damage is avoided. Ensure that competitive prices prevail so that it is favourable to do business and there is increase in demand conditions such as improved consumption power and savings in the hands of common man through lower interest rates. Workers get their wages linked to inflation rate and students are provided assured employment. For this the jobs need to grow which ultimately rises from increase in demand. If trade war negotiation finalizes then it will ultimately lead to increase in demand as people start spending because of increased income.