Recently, the world economy is downgrading. Greek economy is one of the fastest growing in the world between 2000 and 2007. The Greek government takes advantage of this and run large structural deficit. However, by last year, the Greek deficit has already been raised to 13.6%, a scary number. Greece originally aims for a better economy; however, the high interest causes Greece not have enough money to pay for the investors. Therefore, it starts borrowing money from other countries and not being able to pay back.

It’s a domino effect. When Greek economy goes downhill, other European countries, the US and Asia will be affected because they invest a lot on it. Greece should not be greedy trying to improve its economy by raising the deficit. Its economy growth was fast, but it could have looked for other safer roots to achieve the economic goal.

An interesting view of Greek economy is that by the time Greece has enough money to pay back, it’s actually benefited because of depreciation. Greece will owe the same amount of money in the future except the value of the money will shrink.

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Greek debt crisis explanation

Business ethics is the attitude and behavior towards a business. There are two different ways to run a business. They are to complete a business with and without guilt. In a perfect world, people simply just buy and sell products; however, some people only consider their own benefit nowadays. For example, there’re illegal copies of DVDs sales around the world. In order to gain the benefit, earning money, some suppliers sell these DVDs even before the movies are released.

In this article, the reporter focuses on how the student intern Carly Leblanc makes a decision. Carly struggles on whether or not she should make her trade in a positive way, not feeling guilty.

She should choose the positive way by either trading with the more expensive company for quality or asking for an extension to find out other more appropriate companies to work with. Quality is more important than quantity; therefore, it would be better for Carly to not trade with the Chinese company.

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