The financial crisis in the form of sub-prime crisis which started in United states has now engulfed the whole world. Countries like China and India who command natural development growth is also started getting affected due to loss in export orders and service export orders.

United states has been creating world demand as it has been spending more than what it has been producing. Over the last two centuries there has been growth in demand and the supply has been from the developing countries.

Now the question is as there is a collapse of the wall street and subsequent effect in the many sectors of the economy like automobile, housing in terms of unemployment, excess production  etc what are the steps that is being done by the US government to take the economy back to growth?

The new government of United States under the leadership of Obama is going to come into effect from 20th January and there are number of issues to be handled from economics to international problems.

If the United States gives more bailout packages, then, which sectors are going to get the maximum benefit and how is it going to affect the unemployment and real economic output growth with in USA? Is there any change in the outsourcing policy ? Is there going to be more protectionist tendencies in United States?

Do you remember the Bob Dylan song “The Girl from the North Country”? Dylan expresses his thoughts about his birthplace in Minnesota in this number. Minnesota is undoubtedly one of the most beautiful states which are located in the United States of America. This state is located next to another northern state with the name of Alaska. Weather remains cool throughout the whole year in this state.

Minnesota State Fair is one of the biggest events which takes place in this state. Globalization is truely reflected in this fair. Many of the biggest names in the global industry come to take part in the Minnesota state fair. Therefore this event has made a prominent place in the America map. We all know the rise of Chinese market in United States of America. Well, the Minnesota Trade Fair is a place which will not only show you how America has made her progress in the industrial field but also how the Chinese goods have made their places in the US market.

In a nutshell, this is a place where the West mingles with the East in  a perfect manner. This year the fair is going to begin from 22nd August onwards. The fair will come to an end on 2nd September which is also known as the Labor’s Day. You have to pay $8 to enter the fair. Once you get in, a completely globalized market will open up with all its opportunities before your eyes.

Is this a dead end to Doha Trade Talks? It seems, it is. Yesterday the nail biting negotiations in Doha, which began in 2001, collapsed as India and China hesitated to yield to US pressure on safeguarding its farmers through subsidies and other import curbs. Who are the winners and losers of the Doha debtes are yet to be worked out. This is a bad omen for global economy, especially at a time when a concerted effort is required to keep rising commodity prices and food prices under check.

Interestingly, it was not the contentious areas like agriculture, special products or NAMA (Non-Agricultural Market Access) that led to the collapse of the talks, but the outright reluctance of US to devise a plan for its domestic economy based on its own principles. Pascal Lamy was blaming the developing countries all the way for not reaching a consensus about trading in international market. But he maintained a studied silence throughout the Doha trade talks on increased subsidies for US farmers.

Developing countries are victims of trade distortions, caused by huge subsidy for farmers in US and European Union. In a sense, the failure of Doha debates at least for now will put an end to the self-deceiving actions of the heads of several developed countries throughout the Negotiation process. Fair enough.

Finance is considered to be the lifeblood in modern business environment worldwide. It simply studies the process by which individuals; business groups and various organizations behave towards allocation of monetary resources. Through our website http://finance.mapsofworld.com, we have tried to cover all aspects of world finance in detailed.