Untitled Part 1
Hi everyone, thanks for coming. My name is Nguyễn Trung Hiếu, I was a student of Industrial University Of Ho Chi Minh City, Faculty of Business Management. Today, I will be presenting on the topic : Inflation.
So, why do I say on this topic? Because inflation is a urgent problem in the current economy. Inflation affects the economic, social ... and directly affects the lives of every family, every person, and especially business people. I hope that through this presentation, you will more understand about inflation. You will know the cause of the inflation, the consequences of inflation and solution to control inflation.
I have divided my presentation into three main points, Firstly, I will talk about the causes of inflation. Secondly, I'd like you to understand the consequences of inflation, and finally, I will suggest to you a number of solution to control inflation.
The presentation should last about ten minutes. During my presentation, if you have any questions, you can ask me your questions. I am happy to take any questions after that.
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Let's start with my presentation.
Inflation is a macro problems of the current economy. What is inflation? Inflation is the depreciation of the currency, the prices increasing of almost all commodities.When comparing between the countries economy, inflation is the currency depreciation compared with foreign currencies. So, what is the cause of inflation?
_Firstly, I will talk about the causes of inflation.There are many causes of inflation, as inflation structural, inflation due to export-import, inflation due to monetary,...in which "demand-pull inflation" and "inflation by spending cost push" is considered to be the two main causes.
+Demand-pull inflation is the market's demand for a comodities increases lead to increased price of this commodities, Other commodities also rose follow. Creating the price increasing most of the commodities on the market.
+ Cost-push inflation: cost-push includes salaries, inputs meterials, machinery, insurance, taxes... As the price of one or more costs increases,lead to the total cost of production increased, lead to the commodity prices on the market also increased.
_That's all I have to say about the cause of inflation. Now we'll move on to the second part: the consequences of inflation.
The consequences of inflation are very serious. Inflation affects the social and economic of the country, the lives of many people. When inflation occurs, the people suffered the most are:
+Retirees,because pensions are a type of "commodities" with stable prices, usually only a little adjustment when inflation occurs ,but it is almost negligible.
+The poor in society, who have income with about 1-2 usd per day. When inflation occurs, with them, a meal for the family is also a difficult problem.
Inflation also makes the distance between rich and poor more serious. Inflation makes some people get more benefits, some others are disadvantaged serious mainly placed on the shoulders of workers.
However, if inflation is moderate, it will stimulate economic development, income distribution in society, regulating the economy. Therefore, solution to control inflation is the most important issue.
_Now we'll move on to the third part: The solution to control inflation.
A number of solution to control inflation of the government of VietNam:
+ Monetary tightening.
+ Reducing public investment and the budget deficit.
+ Focus development: industrial and agricultural.
+ Balance supply and demand.
+ Savings in production and consumption.
+ Strengthen market management, price controls.
+ Synchronous collaboration
Monetary tightening is applied in the US for decades and proved to be effective, so it is method that many countries recognize as the main method to stabilize the currency, control inflation.
Well, that covers everything I want to say!
To summarise, I will run through my three parts. In the fisrt part, I talk about the causes of inflation, there are two main causes: "demand-pull inflation" and "inflation by spending cost push" . In the second part, I talk about the consequences of inflation. Inflation affects the social and economic of the country, the lives of many people, but the people suffered the most are retirees and the poor in society. In the part three, I talk about a number of solution to control inflation. In particular, monetary tightening is the most effective solution.
I hope that, through this presentation you will get an overview about inflation. Although inflation is a macro issue, but its consequences will affect you and your family. Therefore, you need to understand about inflation, so that when it happens, you will know what to do.
If you have any questions, I'd be happy to answer them. Thank you for listening!!!
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