Since the end of World War II, we have seen many changes in how countries do business with each other. Starting with the US and English having a meeting at the Washington Hotel in Bretton Woods New Hampshire, where the International Monetary Fund was conceived and continuing to the World Trade Organization (WTO) founded in 1995. During that 50-year period many more treaties were signed by a larger contingent of nations.
All these things connected the world in such a way that makes it possible for me to order almost anything on my iPhone and have it on my front doorstep by tomorrow. Including a new iPhone!
The downside is we are affected by the war in Ukraine and the energy crisis in Europe. Often, it is more perception than reality. Sure, we are paying a little more for goods and services but who can say we have it as bad as those living in a warzone? Bad news is contagious.
Most recently, England made sweeping changes to tax policy and interest rates that may have contributed to Friday’s market sell off. When most of the industrialized nations are taking steps to slow down their economies England appears to be slowing down their economy with interest rate increases while simultaneously stimulating the economy through tax cuts.
Yes, it is a small world. And when the great economies of the world come back it will feel big. Stay focused on your long-term goals.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
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