My Suggested Economic Policy For Mr. President Essay Example for Free

My Suggested Economic Policy For Mr. President Essay First of all Mr. President , I will like to congratulate you on your victory as the new president of the United states of America and I wish you a successful and prosperous administration as the president. The success of any administration depends massively on the policies that the commander-in-chief and other government stakeholders put out and how effective the policies are enforced. The past administration had much of their efforts on war, terrorism, and weapons of mass destruction while economic concerns were often relegated to the back burner. I am not saying that security measures are not important to the policies of nation but we cannot ignore the market forces and turn them to our utmost advantages. Policies on international economy are very essential to the prosperity of any nation and that is why I would like you to look into some areas, which I would suggest for your final decision. A New Global Order There are new emerging market economies and china and India are the main point of view. These two countries are becoming world-class competitors in diverse range of sectors and this development will require even more rapid improvement in the skills of U. S. workers and the flexibility of U. S. -based companies. It will be important if your administration continue and develop new reforms that will increase the countrys competitiveness and diligent negotiations on trade and other international issues. However, new competitors also offer attractive markets for U. S. exports and investment. They are valuable suppliers of high-quality, low-cost goods. And if properly incorporated into the global economy—and paired with effective domestic policies in the United States—they will lead to new gains in global growth, as well as improvements in U. S. productivity that will further magnify the benefits of globalization for the United States. Credit Check Going by standards and recent analysis, the United States is the world’s largest deficit and debtor nation. This poses a threat and risk to both the U. S. economy and foreign policy. ). The continued buildup of debt owed to foreigners, moreover, will steadily erode national income over time. This status, I will like your government to look into; and advising your administration to work towards restoring a sustainable current account and international financial position. Energy Drain Energy is another area in the Unites States that is very vulnerable when looking at it from both economic and foreign policy points of view. This is due to the ineffective policy from the past administration. Over the recent years, the leaders of the Organization of Petroleum Exporting Countries (OPEC) are allowed to manipulate world energy prices, holding them 50 to 75 percent above market levels in recent years. This has resulted to the rise of the cost of energy as a share of U. S. GDP by triple fold since 1997. The inflation of energy costs has caused a depression to the U. S. GDP and I believe that an effective policy in this area is very important. This area need lots of attention because if this administration do not look into it, the United states government will probably be forced to continue launching periodic military interventions to satisfy its tremendous appetite for energy. Therefore, Mr. President, as your adviser, I believe that effective policies in these areas will bring about economic boos in your administration. REFERENCE Dolan, Edwin G. , and Lindsey, David E. (1991). Economics. Chicago: Dryden Press.