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Running head: NEW GLOBAL CHALLENGES AND OPPORTUNITIES

New Global Challenges and Opportunities

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NEW GLOBAL CHALLENGES AND OPPORTUNITIES

New Global Challenges and Opportunities

Introduction

As the twenty-first century continues to take shape, the world over has been awakened to

innumerable opportunities and challenge. From intensifying climatic changes, to increase

terrorism and violence, to the new heights being realized by the world of technology are but

some of the main characteristics of the modern society. For the United States, these challenges

are of greater implication considering its socioeconomic and political influence on the global

scene. The following topics, form the basis of the discussion in this paper, with the sole purpose

of exposing their prevalence, manifestation and more crucially some of the strategies that have

been established in the course of their manifestation.

The Housing Bubble

A housing bubble is denoted by an abnormally high price of houses accruing from

various factors key among them, speculation, increased demand as well as exuberance, before

the prices ultimately collapse. With increasing housing demands and a robust economy, the

American housing was at the height of its industry in 2006. However, towards the end of the

year, the prices had dropped significantly, with its culmination being the 2012. For the American

citizens on the other hand, the housing bubble burst would be characterized by immense

foreclosures, and increased prevalence of homelessness within the United States. The intricate

relationship between the housing market and the credit and fiancé industry, would result in a spill

over the crisis into the financial market with Wall Street’s hedge fund players among the victims

of an economic apocalypse.

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

By 2008 major banks and financial investors were closing down, due to the ripple effect

of the housing bubble burst. The economic crisis of 2008, which would influence the global

financial market, can be traced back to the 2006 and 2007, when the house bubble begin to

collapse. The immediate remedy involved an unlimited bailout that would help ease the housing

crunch. The strength of the housing market had resulted in mortgage-backed securities being a

common occurrence in Wall Street as well as across other financial markets of the world. While

the bailout would go on to ease the housing bubble, the American taxpayer would have to

contend with a staggering $4 trillion debt (Hardaway, 2011). The elimination of a government

funded housing administrator has been touted as one of the solutions to prevent the reoccurrence

of such a phenomenon.

Immigration

Global conflicts and unprecedented climatic events from around the globe have resulted

in major shifts in the global migration patterns. Middle Easter and Northern African conflicts

have been singled out as some of greatest contributor to the changing migration patter, The

Syrian conflict for instance has seen millions of refugees seek asylum in the western world. For

the United States, the last decade has been characterized by tremendous increases in the number

of people seeking citizenships and entry in the United States, both legally and illegally (Hayes,

2001). The United States is a common preference for most individuals owing to the

socioeconomic and political stability that it portends. For the federal and state governments, the

influx of immigrants, more so the illegal one has placed a huge strain on their service provision.

The unprecedented immigrant populations have resulted in overstretched resources.

The Immigration and Naturalization Act (INA), has been the primary tool of governing

immigration into the United States (Immigration and Nationality Act, n.d.). The entry of

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

President Trump, has however, seen most of its stipulations repealed, beginning with the travel

ban on refugees from seven Islamic countries to the construction of a wall on the American-

Mexican border. The immigration issue calls the attention of the United States to a re-evaluation

of some of its foreign policies. With poverty, war and famine as some of the greatest contributors

to immigration, the American government can increase its involvement in economic and political

environments of the most affected areas to help curb their movement around the globe. The fact

that the need to move is fueled by survival factors, means that immigration policies in the United

will do little to change the movement of people. It is only by adopting effective and elaborate

foreign policies that meaningful change can be realized.

Technology

Technological advancement has been one of the highlights of the twenty-first century.

Very few aspects of the modern society can be separated from the technology of the day. In other

words, it is hard to separate technology from the very fabric of modern society. On the brighter

side, this advancements posit greater benefits for the society. Aspects such education and

healthcare have been pinpointed as some of the greatest beneficiaries of this advancement.

However, this has not prevented criminal minds from taking advantage of its provisions.

Insecurity through emergent phenomenon like cyberterrorism paints the encapsulates the picture

on the flipside of the technological coin (Kraemer, 2006). The nature of technological

advancement and innovation has meant that elaborate policies are yet to be established to govern

their development.

However, the nation has been able to develop regulations based on the rate and direction

of the technological changes. The single most salient policy in relation technology is the patent

and codification system where innovation and technologies are protected from unfair use

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

(Consolidated Patent Rules, 2017). Federal investment in technology through research and

development as well as adoption of the technologies have also been instrumental in creating a

thriving technological environment in the US. The complexity surrounding technological

innovations forms the primarily challenge to the development of elaborate policies. As a global

leader in technological advancement and innovation, greater

Environment

Unprecedented climatic events around the globe have called the attention of the world to

imminent environmental crisis. From increased prevalence of droughts and famines, to melting

glaciers and diminishing ecological diversity, the world has been forced to reconsider its

activities relative to impacts on the environment. With the United States as the leading consumer

in various consumer products, its contribution to environment degradation has been regarded as

one of the highest (Wolinsky-Nahmias, 2014). Policy proposals in relation to climate change

have largely been regional or international, in that they are developed by organizations such as

UNEP. However, in an effort to cut down on its environmental degradation the United States,

has taken the lead in developing energy and environment policies. Under the Environment

Protection Act, American Clean Energy and Security Act and the United States has managed to

increase its funding for renewable energy sources and increase regulations on the oil and gas

production as way of minimizing its contribution to global environmental degradation (H.R.2454

- 111th Congress, 2009). Climate change remains one of the greatest challenge of this century

owing to the fact that increasing population numbers are increasing the pressure on the

consumption patterns across the globe. Moving forward, technological innovations can be

leveraged to help curb the climatic issues with greater efficiency and effectiveness.

Terrorism

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

The rise of international terror groups such as ISIL has been cause of global insecurity.

Their ability to orchestrate multiple bombings in various countries in Europe in the recent past

has been the highlight of their growing dominance. Technological advancements in

communication and transportation have also accorded such groups an edge that the security

forces of the world are yet to master. Central to the American foreign policy has been the

elimination of such groups in Middle East and North Africa (National Security Archive, 2001).

With The Patriot Act as the central line of defense against the terrorism in the United States, the

government has gone on to launch innumerable military expeditions with the goal of eliminating

threats.

From the invasion of Iraq and Afghanistan at the turn of the century, to the most recent

Libyan invasion, the United States has been tireless in its endeavor to eliminate the terrorism and

tyranny. However, its efforts have come under scrutiny due to the violations of human rights and

freedoms in achieving their goal. Domestic terrorism has been the cause of the recent travel ban

imposed on Islamist refugees. Despite the stereotypical nature of such a policy and the criticism,

it has witnessed. It has been one way through which President Trump has promised to protect the

American people (Alexander and Kraft, 2007). On the domestic level, the Patriotic Act would

the FBI and Homeland Security departments assume more counter-terrorism strategies.

Conclusion

The challenges of modern-day society seem insurmountable. A prevalence of economic,

political and social challenges discussed above posit a tough existence for billions of people

around the world. However, hope is to be found in the realization that technological

advancements coupled by the lessons that have been gained over the years from dealing with the

economic, environmental and political issues, effective and sustainable solutions can be

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

developed moving into the future. The ability to connect over a billion people over the internet

promises a formidable force that can be leveraged to bring about unprecedented changes for

society.

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

References

Bernanke, B. (2015). The courage to act: A memoir of a crisis and its aftermath. New York, NY

: W.W. Norton & Company.

Hardaway, R. M. (2011). The great American housing bubble: The road to collapse. Santa

Barbara, Calif: Praeger.

Hayes, H. (2001). U.S. immigration policy and the undocumented: Ambivalent laws, furtive lives.

Westport, Conn. [u.a.: Praeger.

Wolinsky-Nahmias, Y. (2014). Changing climate politics: U.S. policies and civic action.

Washington, DC : CQ Press, SAGE Publications.

Alexander, Y., & Kraft, M. (2007). Evolution of U.S. counterterrorism policy. Westport, Conn:

Praeger Security International.

Kraemer, S. K. (2006). Science and technology policy in the United States: Open systems in

action. New Brunswick, N.J: Rutgers University Press.

National Security Archive. (2001). PDD 39, U.S. Policy on Counterterrorism, June 21, 1995,

Secret.Retrieved from: http://nsarchive.gwu.edu/NSAEBB/NSAEBB55/pdd39.pdf

Immigration and Nationality Act. (n.d.). Retrieved April 26, 2017, from

https://www.uscis.gov/laws/immigration-and-nationality-act

Consolidated Patent Rules (2017). Code of Federal Regulations. Retrieved April 26, 2017, from

https://www.copyright.gov/title37/

NEW GLOBAL CHALLENGES AND OPPORTUNITIES

Waxman, H. (2009, July 07). H.R.2454 - 111th Congress (2009-2010): American Clean Energy

and Security Act of 2009. Retrieved April 26, 2017, from

https://www.congress.gov/bill/111th-congress/house-bill/2454

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