Today’s economic situation is making people wish it all the best, because oil prices drop, currencies of different countries became very vulnerable and prices only continue to go up. It is funny how countries with great resources are losing the value and the government leads people to the borderline poverty, whereas countries that are just good at purchasing those resources are only getting more stable and reducing their external debt.
If you open up Foreign Exchange Rates page, your jaw will drop, because the picture is not that positive. For the past month British Pound dropped by 1,29 % and European Euro is going down as well dropping by 1,65 % to US Dollar exchange. Chinese Yuan is quite stable at the moment with a small decrease on 0,80 % , but Russian Ruble is only o,01467 USD as per today, which is a horrifying number for such a powerful country.
Truth is that crisis is something we can actually feel these days, because it started affecting life, especially in those countries that are experiencing not only internal problems, but also political dilemmas. To get an idea of what is actually going on in the world, just think on how your life is being affected compared to others in the other part of the world. In Europe for example salaries are very low, but expenses grow every day and more and more people are giving up, because not all of them have sufficient knowledge or education to shift from one industry to another or change the country. Those people simply become poor and start selling their assets to survive, if they have them, but if not, they are the ones you see sleeping on the benches and next to ATMs.
Currency drop in Eastern European countries led to such a situation, where average salary is less than 500 Euros, but the living costs are up there with the European Standards.
Asia is getting stronger everyday and so is the currency of China and Japan. Those countries are the leading ones today due to their capabilities, foreign investments and industrial development. They have a big potential in the future and more and more people are going there to look for financial stability.
America is on the edge now with elections and unstable political situation, but Dollar was there for decades and even now in times of crisis it is still one of the most stable currencies in the world.
In today’s world that we live in, money plays a big role. It influences our life, our mood, our living standards and comfort level, so it is not less important to understand the global situation and the position of your country in it, because economic decisions of the government and its political views in the end will affect your life, however you might not be able to take it.
Keep yourself aware of what is happening in the world with TapeMe and look for a better future tomorrow!