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Many developing countrieshave muddled through from one economic crisis toanother for decades, and a few only in recent years; but all have never felt aschallenged as within the present global economic environment. With growingpopulation being felt in urban centers , accompanied by increased unemployment,scarcity of resources and escalating prices, citizens can no longer feel assecure as before when life in general was more financially manageable and lesssocially turbulent. Natural calamities, on one hand, provide a real challenge,especially for nations which encounter them on a regular basis, aggravatingtheir economic woes.Yet in spite of what manypeople feel or perceive through the popular media, the overall reality portraysa brighter future for the global economy. Wepoint to two factors that bring hope for a more stable and progressive economyin the future:1. Levelling of the globaleconomy for all countries to freely participateGlobalization, as it wasoriginally designed by the engineers of the global economic program, has givena chance to many countries to participate actively in international economicactivities due to the easing up of former trade and tariff restrictions.Developing and developed countries now have a healthier interaction throughmore trade interaction and exchange of technological expertise. The economicfield is no longer an exclusive arena for the big countries to play in whilethe rest of the smaller ones struggle to survive among themselves.This is proven by the factthat growth rates have increased for many developing countries: from Africawhich is expected to attain 4.7% growth rate in 2014, to India which has apresent robust 8.0% growth rate, and to East Asia which has shown consistentgrowth expected to average at 6.0% in 2014 and gain slightly in 2015 at 6.1%.This can only be a boost to the world economy as these regions are a richsource of raw materials for the rest of the globe. Allowing theseonce-undeveloped areas to the big picture will serve as impetus for moreeconomic dynamism on a wider scale.2. Political and financialleaders are the key to continued economic growthFiscal health is the majorconcern for all countries even before the exit of Greece from the EU and withunemployment still a big challenge everywhere, even in the US which had 7.0%unemployment late 2013 from 10% in 2010. However, inflation remains tame andcould eventually slowdown and help spearhead the expected growth of the globaleconomy.Divisive politics andpolicies as well as adventurous economic and military expansionism exhibited bya few countries will put to the test the resolve of political and fiscalleaders as they steer the global ship through the turbulent seas ahead.Tensions among nations due to territorial conflicts will continue to challengethe community of nations as they try to stabilize the ship without causing itto implode from within. But if majority of the nations will exhaust allpossible peaceful means to resolve conflicts, avoiding violent confrontationalong national borders can be attained. As the world arbiter, the UnitedNations will have its hands full keeping destructive wars at bay.The economic stability andoverall security of the global community rests in the hands of a few leaderswho are tasked to provide a vision of progress and sustainability not just intothe next year but for a whole generation of citizens who will reap our presentefforts at attaining worldwide political and economic security. With all thestructures in place to allow nations to achieve this vision, all we need now isthe individual and common will to work for that vision.
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