Croissance économique, déterminer la croissance (document en anglais)

TOPIC 1 : ECONOMIC GROWTH; DETERMINATION OF GROWTH

DOC: The US Economy: Doing better, can it last?

Real GDP: PIB reel (ou en volume)

The document is a graph from the US bureau of economic analysis, from a site web. It illustrates the annual economic growth in the United States.

In 2010, the economic growth is zero percent. Production fell by 4% in 2008 in US. The beginning of the economic bust/crash started in 2007. 2008: the crash peak (sommet de la crise). The output grew about 2% from 2010 to 2014. It’s a moderate growth, a quite sustainable growth.

TITTLE: Doing better, can it last?

Doing better: US is creating jobs

Can it last? :

It’s doing better because consumers have confidence in the future. There are optimistic. So the consumers buy goods. Companies will produce and hire or create jobs and invest in new machines.

Optimistic companies → positive forecast:

Confidence in the future → Investment with new technology → better quality → better productivity → lower price → better competition → more exports → higher production → more profit → new profit + create new jobs

Less unemployment → less benefits (prestations sociales)

More car sales → more production

It’s still worrying because unemployment is still high → benefits are low → poverty

Household incomes has not increased → no consuming

No growth in Europe → no consuming → no export for US goods

To fight unemployment the Fed keeps interest rates near 0. The CBE has the same policy.

Lower interest rates → a faster growing economy and potentially higher inflation

Lower interest rate means that the companies borrow more money so there will be more consumption and more investment.

GERMANY GROWTH

GERMANY’S BOOMING ECONOMY

Germany has a key position in Europe. This country has also booming exports because of their very quality so they’re very competitive.

The German car markets export 80% of their production.

The unemployment rate is low thanks to their economy growth.

IG Metall is the biggest *union in the world. They negotiate the *leave, the working time and the wages of the employees (they negotiate the solution and find a consensus). And thanks to that measure, there are fewer *strikes.

LABOR CONTROVERSIAL

Mini jobs:

→ low wages

→ no job security

...