Throughout the globe, countries across the board have seen strong basic economic growth between North America, Europe and South America. However, this global development seems at a high risk of faltering due to political turmoil and instability.
Let's begin with the United States. The US has seen a significant economic revival in the past few years. However, the problems with this strong economic growth is more closely associated to an increase in job participation. This increase does not account for the difference between full-time and part-time jobs or economic well-being. In addition, the benefits of this economic growth is more attributed to the wealthiest Americans, as they have seen their wealth drastically increase. Furthermore, the current political landscape is deteriorating as the US President, Mr. Trump continues to uphold policies that focus on loyalty to his own administration. In addition, his recent agendas have focused on increasing benefits for the wealthiest class. Economic growth is not furthered once a large amount of wealth is held by the wealthiest class because they have lower spending multipliers than the rest of the population. In other words, this class does not spend as much of their available income than the rest of the population, which decreases the amount of money in circulation and a decrease in economic activity.
South America has seen economic growth in the wake of financial and economic turmoil. Brazil's economic activity has increased and so has its financial sector. However, its confidence has decreased significantly largely due to political unrest and a decrease in overall well-being for the population. Argentina has a similar situation, however it has recieved less economic and financial improvements than Brazil has experienced. In addition, Venezuela has seen even less and political unrest is advancing quite rapidly within the country.
Europe seems to be less affected than the rest of the major global areas by political unrest. European economies are increasing rapidly as well as their financial sector. Europe's confidence has increased overall in the wake of the French elections although there is some unrest over Britain's departure from the European Union.
All of this economic data points to a further diverse and developing global economy. However, this data reveals that there are more dynamic factors that need to be looked at if individual well-being is supposed to be accommodated for. Economic activity is not the only determinant to sustainable development.