The conflicts like India-Pakistan, Israel - Palestinians, US-Afghanistan etc are causing immense damage to the economic development prospects of these countries. Many Americans believe that the current financial crisis affected America severely because of the huge expenditure made on war on terror.
When globalization initially appears on the horizon, many developing and underdeveloped countries watched it suspiciously. Many people suspected some hidden agenda of the capitalist countries behind globalization. The slogan of collective growth or the principles of globalization put forward by the capitalist countries were considered as a deliberate attempt by the capitalist countries to exploit the wealth and natural resources of other countries. China was the front runner in spreading this message to other countries. However, China is the number country at present as far as the exploitation of globalization is concerned and America is struggling to reap the benefits out of globalization. BRIC countries, Brazil, Russia, India and China are the front runners as far as the exploitation of globalization are concerned.
The recent economic crisis affect ted America more than any other countries in the world. While American organizations started to collapse one by one, the organizations in BRIC countries escaped without many damages. American market is exploited by foreigners at present whereas America failed to exploit the global markets as effectively as some of the other countries. Foreign countries invest in American share markets or in Wall Street Firms and they are making a substantial income from there. Moreover, India and China like countries are benefitted immensely by the outsourcing works from America. Obama is trying hard to prevent work outflow or the capital outflow from America. But his efforts are not succeeded yet and still other countries exploiting the resources of America more than America exploiting their resources. In