Rich countries out side of European Union like USA and Japan should come forward in support of Greece too. In the past, USA did not have that good relationship with Greece because is traditional allay in the region was considered to be Turkey. We know that Turkey and Greece have bad relationship and over Cyprus and other issue. Now, it is perhaps the time that USA at least provides support to Greece economically more. It is not a good thing to see an economy of a country failed. The bad condition of an economy creates fear in the mind of many people of other country.

Last night, many people in USA were searching about IBM lay outs and you know that IBM employees thousands of workers in USA.

It would be a “cashless deal” where the companies would take over their operations. Coke will take over the North American operations of C.C.E. In exchange, C.C.E would acquire the bottling plants in Norway and Sweden and focus on Europe. C.C.E would also gain 83% stake in Coke’s German bottling operation in the next three years. The deal is expected to be closed in the fourth quarter. Post closing, Coke will own about 90% of its American bottling operations.
Coke will give up its 34 percent stake in C.C.E. valued at $3.4 billion and would assume debts and other obligations of C.C.E worth about $9.5 billion. Coke’s Norwegian and Swedish bottling operation are valued at about $822 million.

What the Greek government needs to do is to decrease its spending and increase its revenue. It may sound very easy but the solution is very problematic. In order to decrease revenue, the government has to put tax on basic items like petrol and alcohol. On the other hand, in order to decrease government spending, the Greek government has to take away a lot of money from different projects. Also, it has to decrease support to government corporations and it should not increase salary of public sector employees.

You can easily understand that it will not become popular to the ordinary people. Many people understand that the government has no choice but to take some austerity measures. However, not everyone is happy and today, there is a twenty-four hour general strike. The bad part of the general strike is that the tourism sector is also under it. This is bad news because one of the major earning sources for the country is tourism.

The bad relationship of this time started with the announcement of Google that it suffered hacking attempts in China and it was pulling out of business out of China unless Chinese government decided to stop censoring the search results. In other words, Google wanted China to open up its internet and it is perhaps impossible because Beijing is run by a communist government.

Hillary Clinton, who is the secretary of states of USA, publicly supported Google and criticized Chinese administration for their censorship. This did not go well in China.

Then was the issue of selling weapons to Taiwan. More than anything, Chinese leaders got very annoyed with this matter. They even threatened to take actions against the US companies who would sell weapons to Taiwan. The permission to sell the weapons to Taiwan came from Obama and it was $6.4 billion worth of business. We know the history between China and Taiwan and we also know about the US involvement about the whole problem.

US government is also annoyed with some economic issues. For example, America wants Beijing to open up its market for foreign goods. Another matter that American leaders want very deeply is that Chinese government carries out some kind of appreciation to their currency Yuan. The price of currency in China is controlled by the government and China has kept the currency under actual value to support its export efforts. As a result, Chinese products are cheaper in other countries.

USA is also unhappy with China’s close relationship with Iran. USA wants to isolate Iran from the rest of the world but China is not with Washington in this matter. China has also announced that it will not appreciate the currency and will go on the way that helps its own people.

In the past, we have noticed that relationship between China and USA was not very good but both the countries continued doing business because they both need each other. So, I don’t see any kind of big conflict or crisis happening with the current bad relationship between Washington and Beijing.

What I feel is that none of the two parties in USA at this moment have any vision for the US economy. The democrat and the republican leaders are perhaps confused and they are not sure what will be the best solution for the current crisis. I just hope that real state market does not see another boom because at this moment, many people are worried about their jobs. Any artificial mechanism to improve the US economy may backfire in the near future.

The US economy is out of the recession to a large extend but still job creation is a major problem.

President Obama has passed one year in office and there was a lot of expectations from the people who voted and elected him. Now, many people are perhaps disillusioned and Obama will have to work very hard to get back their support.

The biggest challenge for Barack Obama at this moment is that although US economy has more or less come out of the global recession, many people are still suffering from unemployment. There is no sign of any job creation but some people are losing jobs every month. So, the first thing that he has to do is inject some jobs in the economy and it is becoming quite a challenge for him.

It is very easy to give a speech about the economy but it is another matter for a president or a government to create some jobs. I don’t think that it will be very easy for Obama and I am not hopeful for it that much. As I just said that it is not only the work of the government and in fact creating jobs does not only depend on government activities. There are many factors and one of the most important factors is that the private companies would have to sacrifice some and think of giving some benefit to the people. The main problem with US economy is that most of the private companies have to think of their share holders and if they can not deliver good profit then share holders will not be happy. As a result, when your only focus is profit rather then creating jobs, helping the national economy does not get any importance or priority.

Another factor is the people. USA is a consumer based economy and here a lot depends on what people think. On the one hand, because many people are out of jobs so consumer confidence is not that much. On the other hand, US people have to perhaps become more educated about their economy and have to spend the money in a wiser way so that more jobs can be created. In fact, the people have to remember that they have to think of some good ways that can help the US economy and can help to create jobs. I do not see any effort from Obama administration in this regard. I think that president Obama and his colleagues should try to educate the American people about economy more and advise the people for spending the money in a way that can benefit the US economy in creating new jobs.

Because of these reasons, I think that it will be very difficult for Obama to create jobs in large number in 2010. However, I do not want to blame him because he was at the wrong time and wrong place. He got a lot of popular votes but he inherited a recession that he had nothing to do with. After all, Obama administration was not the cause of global economic recession or US economic recession. Even it did not start at his time but when he started his presidency, he had to forget other things and deal with this problem alone.

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