You should spend about 40 minutes on this task.
Many people say that the 9/11 is a significant world event that has changed the world. Discuss the influence on world economy and other aspects taken by 9/11 incident.
You should write at least 250 words.
Model Answer :
On 11th September, the whole world was shocked by the terrorist attack on New York, the centre of American 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 Americas economy slide downward more sharply than ever before, with a decrease of Don Jones at 8000 points shortly after the attack. In contrast with economic losses, the perspective of markets has become 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 terrorist attack also causes many psychological problems to the Americans. 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 effects of the attack. The crackdown on terrorism globally has connected American government with other countries, including China, which is beneficial to the capital market in the world. Furthermore, the war against terrorism stimulates American economy by the dimensional expenditure and cut down of taxes. An open financial market, flexible policy and advantageous information technology foretell vigorous opportunities for economic development.
9/11 incident is the largest catastrophe in human history, which not only deprived people of husbands, wives, relatives and friends but also made the world economy recede. We should adopt an optimistic attitude, overcoming the temporary recession and cultivating a prosperous future.