A lot is happening at the national level Bilateralmultilater

A lot is happening at the national level. Bilateral/multilateral trade negotiations and agreements, currency manipulations by some countries the US trades with, driverless car development, energy issues, concerns about terror, a slowly recovering economy, guns, race relations among several others. A local business may think it is far removed from some these national issues. In Q3 discuss the opportunities/challenges some of these issues present to the country and the likely consequence on businesses in your local area.

Question 3

3) List a few major challenges YOU THINK would impact the future economic well-being of the United States. Explain how these national-level challenges can impact on local businesses in your locality.

Solution

a) There are around 14 free trade agreements that government of U.S. had signed as of 2015. Now these trade agreements effects the local business also which the businessmen may not be able to directly relate. Because of free trade, few products will now be cheaper because of lower cost of production in other country.

b) Global climate change effects the local businesses largely as it will bring instability due to several factors like drought, excess rainfall, etc. This will decrease the spending capacity for commoners and will effect local business severely.