Challenges for the future - superpowers

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  • Challenges for the future
    • Economic restructuring
      • Causes
        • - Moving from primary and secondary to tertiary and quaternary sectors
      • Impacts
        • The low-skilled, low-income population faces the loss of opportunities, full participation in society, lack of access in labor market and school, weak position in housing markets, limited political participation, and restricted social-cultural integration
        • high-skilled, high-income professionals enjoy social inclusion with modern amenities, conveniences, social participation, and full access to public resources.
    • Social costs
      • Causes
        • economic restructuring, unemployment, austerity,
      • Impacts
        • Depreciating mental health, increased alcoholism, poverty, increased welfare reliance, physical isolation (e.g. NY youth lack social skills due to limited availabilityof social interactionfacilities), increased division between rich and poor (e.g. gated communities(
    • Debt
      • Causes
        • urge for economic growth, to undertake public welfare schemes, corruption and to undermine budget deficit on current accounts.
        • increased government spending- Many governments have utilize their available resource and the only option to meet other public goals was through borrowing more money. Federal expenditures increase on daily basis whilst the federal revenue as also reduced simultaneously.
      • Impacts
        • hinders economic growth. EU debt was $9.7 trillion in 2016 (1.6 trillion in the UK, about 90% its annual GDP). The 2007 global debt crisis was largely because of EU/USA mortgage lending fraud.
    • Unemployment
      • Impacts
        • government has to suffer extra borrowing burden due to decrease in the production and less consumption of goods and services by the people. even the employed has weak purchasing power due to fear about their loss of their jobs. The unemployed claim benefits from the government which is an additional cost for the economy as a whole
      • Causes
        • Change in technology, recession/financial crisis, changes in the global markets, job disatisfaction, employment discrimination,negative attitudes by employers to employees

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