Major Events in Past Ten Years and Their Impacts to the World


Major Events in Past Ten Years and Their Impacts to the World
In the recent ten years, there have been a lot of events that have had impacts on the world we live today. Obama was elected as the President of the United States. Obama as the president has been able to deal with economic inequality. Since then, a lot of changes has happened in America and have also affected the world as a whole. For instance, there has been economic inequality between citizens in the U.S. Obama has been able to deal with economic inequality that was in America in the past years where people had an attitude that there is a division between the wealthy and underprivileged individuals. The gap was closed through the creation of employments as well as equalizing the remunerations for every working individual. In Between the year 2007 and 2009, most people in America gave positive views on the rise of their finances than they had described three years ago. Currently, they are expressing their satisfaction with 74% getting enough money since the year 2009. The American government came up with an economic dream that made them prosper after gaining economic freedom plus the culture of work (Wald, et al., 27). Through the election of Obama, the American government has recovered from the severe financial emergencies in the generation. It has also rehabilitated health care system as well as reinventing the energy sectors. Barrack Obama being a president in the United States has tried to develop commerce globally through trade between America and other countries in the world which has resulted to increased economy. The event also has lead to improved technology which has changed the world over that period. Currently, people have been communicating via many sites like face book and twitter which has played a part in developing the world’s economy via the taxes charged for the services. Through Obama, today’s world has shifted to digital migration has made things to be easy everywhere in the world. For instance, people can buy or sell products through the internet hence saving one’s expenses like fare and time which would have affected the economy in a negative way.

The building of the Dubai tower is another event that has been economically important to students throughout the world. Being the world’s trade center, it has lead to employment opportunities on the side of catering and those working in businesses like selling goods. Dubai’s tower has build world’s economy through tourism since it is one of the tallest buildings in the world. Similarly, Dubai tower has lead to improved skills and technologies through distance learning which creates a lot of finances which help in boosting the world’s economy. It has also been providing all administrative services like finances, libraries research production for their students. In recent years, Dubai higher education institutions have collaborated with the other universities in the world for excellent research and excellence personnel’s in several meadows. Through their improved services individuals are employed in the world’s developed states and they are offered presentable remunerations. It has also played a part in employment sector since they give job opportunities to their students thus reducing the numbers of the unemployed people. Political agendas have been developing the world in partnerships in the world though internalization has become a challenge to the underdeveloped countries due to the limitation of finances (Mansilla et al, 17).

The killing of Osama bin Laden is another event that had effects in the whole world and particularly in the financial system. There was a downfall in the economy due to the destruction of Ground Zero mosque which had used a lot of finances to construct. A lot of people died, and others developed psychological impacts. The event also created an economic gap through the loss of those people who were assisting the economy to rise because they had no other chance to do so. Due to exposure to the chemicals that were used during the twin tower attack, lots of individuals were diagnosed having suffered impaired lung infections which made the government use a lot of money to cater for the victims hence leading to the decline of the economy. A lot of armies lost their lives due to the global war on terror and it made the government use more money to recruit other personnel to replace the deceased. The killing of Osama bin Laden has strained the relations with Pakistan and there have been protests against America over a decade since the attacks and this lead to poor trade linkage between the two countries thus affecting the economy

Winter Olympics that took place in the year 2010 lead to economic and cultural benefits. The host cities invest a lot of cash in the games and these have not only an impact on the hosting cities but also the national economy through tourism, marketing as well as other means. Hotels and restaurants invest a lot of money due to increased number of visitors. Winter Olympics influenced athletic happiness in the world. Through Olympic Games, the player’s received a lot of money through the pay they were earning. The hosting countries benefited from the facilities that were built for the games to learn smoothly and they are used in later years since they are country’s asset. The game organizers make a lot of money from the games, therefore investing a lot of cash hence boosting country’s economy.

The Haiti earthquake is an event that had negative economic impacts throughout the world. There were global food crises which made the prices of food rise. Due to that occurrence, there has been increased poverty in both rural and the cities. In recent years population has grown despite the fact that they receive food from other nations. The earthquake lead to the death of 250,000 people, 1.5 million was left homeless which made the government use a lot of funds to reconstruct the business buildings and houses that were destructed by the earthquake. The government also suffered economic loss through maintaining the individuals with basic needs, health and sheltering them. Poverty struck Haiti country for the last ten years, and it is still an issue today. The rise or fall of national income is much more of personal income, therefore, creating a surrounding which individual can develop their full potential that will lead to productivity and creativity in lives accord with their necessities and interests thus making people to be a real wealth of the nations. At family levels, community, society, national, as well as international levels, can be provided with various aspects and commitment to different institutions that are not corrupted by special interests and agendas. For many reasons, this has not been possible in Haiti societies. A lot of nations do not develop due to political agendas depriving these possibilities and mostly in developing nations unlike Haiti, which has been suppressed by national disasters. There was a significant economic loss, and the other countries came in to aid the country. NGO’S in conjunction with governments from the countries over the world are granted support so as to fight poverty in Haiti and also help to combat corruption in the country.

The fashion report launching in U.S has also played a part in global interdependence economically. Nations and culture have been sharing environmental problems through international economic systems which have increased the rate of dependence from one another. The country’s wealth is controlled by the skills of its workers, the technology and the capital that a country has. The nation’s wealth is determined by the balance between the amount of products it produces and how much other countries seek the country’s product as well as how much of other nation’s products find. These international ties have been unclear due to the distinctions between foreign and domestic policies. For instance, systems that determine the kind of cars or clothes we buy, and what prices are based on international trade and a global balance of payments while agricultural production at home depends on outside market as well as domestic policies. National policies may help county producers from selling their products at a throwaway price that is being contributed by other producers who sells their products at a low price so as to protect decline in the economy. The growing interdependence of the world social, economic and ecological systems establish more reliable systems of conducting business and exchanging information as well as monitoring mechanisms to warn globe disasters like famine and nuclear war which may lead to economic downfall. It can also reduce the large gap in the living standards between the poor and the rich in the nations through that connection (Mansilla, et al., 17). Therefore, countries participating in social systems are advantaged for they rarely suffer shortage losses to achieve longtime benefits of a stable world economy.

High Park fire event in Texas contributed to extreme damages leading to economic downfall. The world fire in Texas, lead to loss of people’s properties and houses which were about 1,685 homes that caught fire. The government used an enormous amount of money to reconstruct the houses, sheltering the victims and providing them with clothes. The event resulted in a severe economic loss in the country which may take the government some years to recapture. All these events have impacted the world in positive or negative ways. Consequently, they have contributed to an increase of the world’s economy but some have declined the world’s economy.

Work Cited
Mansilla, Veronica B, and Anthony Jackson. Educating for Global Competence: Preparing Our Youth to Engage the World. New York, N.Y: Asia Society, 2011. Print
Wald, Kenneth D, and Allison Calhoun-Brown. Religion and Politics in the United States. Lanham, Md: Rowman & Littlefield Publishers, 2011. Print.

Did it help you?

Cite this Page

Major Events in Past Ten Years and Their Impacts to the World. (2022, Feb 09). Retrieved from

Need customer essay sample written special for your assignment?

Choose skilled expert on your subject and get original paper with free plagiarism report

Order custom paper

Without paying upfront