Question

3. How do global factors influence the economy in your country?

Answer 1

Answer

Hi,

In a developing nation, global factors that can influence the economy are political populism, global insecurity and the refugee crisis

Explanation

Making the explanation from 2016, this year was a challenging and difficult one for the global economy. First it was marked by political populism where President Donald Trump, Marine Le Pen and other influential figures took advantage weak economies and low productivity growth to talk on real wages and consumption.

The U.S presidential election being a major political event in 2016, the main issue was on the possibility of restoring the US as a global force for stability after Obama. Security issue raised due to inferior foreign policies and unwillingness to direct military forces in difficult regions.

Refugee was a major factor during 2016 where millions of individuals entered Europe seeking asylum. Many people were displaced in 2015 with countries like Germany, Hungary and Sweden receiving high inflows of refugee.

Good luck!