ECOCB/535: The Digital Economy

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Running Head: REFLECTION

Reflection

Shemeko Hopkins

ECOCB/535

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REFLECTION

Reflection

The end of world war ii came with different gains to the people from political gain,

economical gain, and social gain. The war caused serious disruption, massive property, and life

loss in society. The end of the war marked the beginning of a new era as every affected nation

strived to rebuild and be better after the serious damages experienced. The affected countries were

majorly taken steps back in terms of economic development since no activity can take place in a

place where there is no peace, therefore means peace is a serious drive in economic stability when

there is economic growth and stability the country will rise in every aspect. the end of the war was

accompanied by very benefits that were not measured in monetary terms but have helped in

people's livelihood.

Among the non-monetary benefits that have been experienced as a result of the end of

world war ii include, border peace; the war was fought by different countries and this meant there

were serious cases of border clashes. When the fight came to an end the involved countries have

enjoyed the benefits of such peaceful relations at the borders. Secondly, there has been great

political stability in the country, when there is war in a country it becomes difficult even for the

citizens of the country to enjoy political rights due to continuous violence when the war ended

there has been great political stability and development in the country. Political stability is very

important as it will ensure that the rules and the laws of the land are maintained and upheld by the

citizens and law enforcement agents. To add on, the end of the war led to cultural exchange due to

the movement of people in and out of the country. people have been allowed to travel to the united

states from any place in the globe as long as the person has legal documentation, when happens the

emigrants get to bring their culture including foods, modes of education, dressing among other

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REFLECTION

basic cultural practices while they also adapt and learn the American culture and this helps

promote the united states status globally.

To add on, the end of world war ii has led to great development in terms of relief services

that are accorded needy and deserving countries in the entire globe. This way people get to live

healthy lives even when they can do production on their own. Finally, development in the health

sector has been massive. With open borders anyone from any country can get access to the medical

services in the country at affordable prices, this is only possible when there is peace and proper

relation between countries. With the liberty to access the medical services in the country by anyone

across the globe, human lives have been saved and health conditions improved due to new

inventions such as cancer detection and treatment.

In the health sector, the invention of modern cancer screening techniques has helped in the

discovery of cancer at early stages thus preventing further spread, when this happens the medical

teams can save cancer patients. This is very important to everyone as human lives are the most

precious. Other than cancer treatment, the invention, making, and distribution of viable vaccines

have their origin in the united states of America. These vaccines including, polio vaccines,

tuberculosis among others are distributed to the entire globe and help in the prevention of life-

threatening diseases thereby helping to save the lives of people.

In the aspect of cultural exchange, this has been experienced in the music industry most

vibrantly. Through music, the culture of the people has been spread to the rest of the world while

they have also managed to gain some cultural practices through the same songs they listen to from

other nations. Cultural exchange is very important since it gives a person a sense of belonging even

when he or she is not in his or her country. cultural exchange and diversity also help in peace

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promotion since it is very difficult for people with similar cultural practices to start wars, for this

reason, cultural exchange is very important.

The united states of America introduced certain trade tariffs and laws to other countries and

this proved to be a great challenge. The united states of America introduced trade tariffs on goods

from China which was not warmly welcomed by the Chinese government. A tit for tat was

experienced when China also introduced trade tariffs on every import from the united states (Liu,

et al 2020). This meant the united states would not carry out their trade activities to the maximum

due to the high tariffs introduced on their imports. When trade happens in unfavorable conditions

such as this, it becomes difficult for the nation to achieve the maximum profitability as expected by

the traders.

Also, the changes in trade policies would mean the traders would take time to adapt to the

new trade style, and during this time, the country may realize continuous losses. To add on, the

domestic agenda which enfolds the traders within the country, both importers and exporters would

only make things worse as the introduced trade policies were unfavorable. Unfavorable trade and

working conditions will make the traders from other countries shy away from trading with the

country (Bekkers, et al 2020). the united states of America introduction of such policies made the

trade partners shy away from getting involved in business with them. This is a high possibility of

economic deterioration of the country as they will lose trade partners. This was the case in the

country due to the new laws.

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REFERENCES

Liu, L. J., Creutzig, F., Yao, Y. F., Wei, Y. M., & Liang, Q. M. (2020). Environmental and

economic impacts of trade barriers: The example of China–US trade friction. Resource and

Energy Economics, 59, 101144.

Bekkers, E., & Schroeter, S. (2020). An economic analysis of the US-China trade conflict (No.

ERSD-2020-04). WTO Staff Working Paper.