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Economic Security

By Author: Sherry Roberts
Total Articles: 573

Often misunderstood and ignored in light of national security, the economy has been assumed for years despite the fact that economy security is the foundation for national security. The economic security is the area from where a country derives its power and economic prowess. When there is a bright economic outlook, even the decline of a country’s power will be significantly countered. The issues and vulnerabilities of the nation’s economic security should be adequately addressed so that there will be secure global systems. Such issues that need to be addressed in detail include the stoppage of terrorist financing through bulk cash smuggling. The issue of fraud and counterfeiting should also be clearly addressed as they pose a serious threat to public safety and national security. Those issues create a platform where terrorist groups, criminals, and other illegal parties can gain entry into the country and accomplish their ill motives. The issue of safeguarding the intellectual property rights should also never be ignored.
Trade and Investment
Trading and investments should be highly encouraged because they help to ensure the economic security of a national and its citizens. For instance, the bipartisan bill that is having an introduction into the Congress to give the president power of controlling trade promotion is crucial to unlocking the imperative trade deals (Flournoy & Fontaine, 2015). There has been disagreement regarding the same because of the misunderstanding that people have regarding this bill. The bill will help to open up the Trans-Pacific Partnership trade agreement that in turn will offer unambiguous economic as well as strategic gains to the United States, hence paving the way for economic security and development via the many investments that may accrue from the European Union. America should also pursue a more bilateral trade and investments agreement with India. W there is barriers to trade and investment such as the export-control regulations that block the selling of sensitive technology overseas. That regulation needs to be reformed so as to help streamline the process of the US manufacturers and make sure that the other existing controls keep pace with technological advancement.

The paper has presented research into the area of economic security that has been and still is a challenge to the Department of Homeland Security. When the economic security is ensured, the country can continue to dominate the market, and the consumers are also protected against any cases of fraud and counterfeit products. Economic security is vital, and it is not a one-man show, but a collaborative activity between the government, the security agencies, financial institutions, non-governmental institutions, and individuals. When all the parties understand that the economic security is there is a responsibility that can help to address the many challenges that have been highlighted in the document. Many of the economic security issues can be controlled because they occur as a result of the victim ignoring crucial security matters. The individuals also do not have the relevant education to help them understand their role in economic security.

FATF Report (2015). Emerging Terrorist Financing Risks. FATF, Paris.
Flournoy, M. & Fontaine, R. (2015). Economic Growth Is a National Security Issue. The Wall Street Journal. Retrieved from http://www.wsj.com/articles/economic-growth-is-a-national-security-issue-1432683397
Gaol, F., Kadry, S., Taylor, M. & Li, P. (2014). Recent trends in social and behavioral sciences. CRC Press, Taylor & Francis Group, Boca Raton, London: NY.
Lovelace, D. C. (2015). The cyber threat. Oxford: Oxford University Press.
Morris, J. (2014). Vulnerabilities and responses to terrorist financing: an exploration of informal value transfer systems (ivts), Islamic charities, and businesses and finance. Internet journal of Criminology, 1, 1-22.
Ross, I. (2015). Exposing Fraud: Skills, Process and Practicalities. Wiley & Sons Canada, Limited, John.

Sherry Roberts is the author of this paper. A senior editor at Melda Research in already written essay if you need a similar paper you can place your order for a custom research paper from custom nursing essay writing services services.

More About the Author

Author is associated with MeldaResearch.Com which is a global Custom Essay Writing and Term Paper Writing Company. If you would like help in Research Papers and Term Paper Help you can visit Custom Writing Service

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