Topic 30 The Effects of the Economic Crisis

The US sub-prime mortgage crisis turns out to be anightmare for the world economy.

Though it took shape in the United States, it hasalready resulted in adverse consequences for banksand financial market around the world.

Affected by this crisis, the global economy wasreduced to slowdown and last to date, and no onecan see the bottom.

On the one hand, many companies just go bankruptor have to tighten their budget and recruit feweremployees.

Therefore, it is difficult for graduates to find a job.

Even if those graduates are employed, their salaries will accordingly affected by the recessedeconomy.

On the other hand, while the economic crisis is still ongoing, its impact has already extendedto our daily life.

The consumer price index raises and people are experiencing the sense of desperateinsecurity.

Though economic crisis has its negative impacts, we can not become pessimistic about thefuture.

We college students should be urged to work harder in order to get prepared for theunexpected future.