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The outbreak of the financial crisis was marked by the bankruptcy of Leman Brothers in Sep.2008. Quickly a series of chain reactions triggered strong social panic; finally, it had become a global crisis. Nowadays, more than a year has passed; there is still no one country can declare that it has recovered from the crisis. The effects of the financial crisis are hard to summarize now, because the world is still going through the pain it brought. Thousands of firms, as the participants of the market economy, suffered from considerable damage. No matter what the firms engage in; No matter how size of firms are, even no matter where firms locate, they can not get away from the effects of the crisis (Kolko, Jed, Neumark, David, 2010). These firms have to take steps in order to survive; as a result, the reduction in the firm’s cost is becoming a common trend. People worry about if there is a possibility for firms to reduce costs while ignoring their social responsibilities (Rodríguez, Inda M., 2009). The article will discuss how the financial crisis affects firms at first; the following will be what these measures to reduce costs are; finally, it will be the description of the relationship between the reduction in the firm’s cost and social responsibility.

The effects of the financial crisis on firms
The measures to reduce costs
Corporate Social Responsibility
The answer to the above question
The explosion of the financial crisis
Effects of financial crisis on the imports in the United States
Effects of financial crisis on the exports in the United States
The relationship between international trade and GDP
Challenge and opportunity for the United States

Conclusion

The loss this financial crisis brings to the world is difficult to estimate, because it is still going on. It is too early for any country to declare that it has recovered from the crisis. The origin of the financial crisis is the bankruptcy of a large number of investment banks, and then a series of chain reactions emerged: the bankruptcy of investment banks leads to the reduction of investments, the reduction of investments leads to the cutting down of production, then the rate of employment is becoming low, depression of the demands of people with lower-income resulted in the decline of the scale of international trade. This is a cyclical process, No one country can survive as long as it participates in the international market. The economic law is that more international trade makes national economy more affected (Tsai, Pei-Jung, 2009). The other rule is that the more powerful the country’s economic strength is, the shorter the time of getting away from the crisis is. This article is the description of the effect of the financial crisis on the U.S. international trade, as well as international trade is how it affects GDP. Even through Friedman (2005) and other economists have pointed out that a large trade deficit (importation of goods) signaled that the country's currency are strong and desirable, a long-term trade deficit should not be neglected. Finally this view is got that although the financial crisis for the U.S. international trade is a blow; it is also an opportunity to change their trade structure.

Reference

Altman, Roger C, (2009). Globalization in Retreat. Foreign Affairs, p2-7.

Gongloff, mark, (2008). Dollar Still Could Buck Downhill Tre本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。