Ielts Sample Essays And Letters Page 68
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8868 / IELTS ESSAYS AND LETTERS
Discuss the impacts of 9/11 incident on the world economy.
On September 11th, the whole world was shocked by the terroristic attack
on New York, the center of America's politics, finance and economy. Four
airplanes crashed, two of which ruined the twin trade towers, causing
unprecedented losses. The New York Stocked Exchange was forced to be
halted for four days, and the financial area in Manhattan a week away.
According to the report by New York Municipality, the attack resulted in a
loss of 100 billion dollars, direct or indirect.
Undoubtedly, 9/11 incident makes America's economy slide downward
more sharply than ever before. In contrast with economic loss, the
perspective of market becomes more and more uncertain. Market-orientated
economy requires our confidence in economic rules. Investors are not
willing to release their capital to the ever-changing market for fear that they
could not get the expected profit. 9/11 terroristic attack also caused many
psychological problems to the people in America. The instability of society
prohibited their trips outside, undermining their anxiety of consumption,
which is a heavier attack on the stimulation of economic revival.
On the other hand, we should not be too pessimistic about the positive effect
by the attack. The crackdown on terrorism globally has connected American
government with other countries which is beneficial to the capital market in
the world. Furthermore, the war against terrorism stimulates America's
economy by the dimensional expenditure and cutdown of taxes. An open
financial market, flexible policy and advantageous information technology
foretell vigorous opportunities for economic development.
9/11 incident can be considered as one of the largest catastrophes in recent
human history, which not only deprived people of husbands, wives,
relatives, and friends, but also made the world economy recede. However,
we should adopt an optimistic attitude, overcoming the temporary recession,
and cultivating a prosperous future.
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