Economic Impact: Social Media, US Policy, Emerging Economies

This essay provides a comprehensive analysis of the interplay between social media, US economic policies, and emerging economies. It examines the impact of US government regulations on social media firms like Facebook and Twitter, focusing on data privacy concerns and revenue implications due to policies like GDPR. Furthermore, it delves into President Trump's nationalistic economic policies, particularly tariffs on steel and aluminum, and their effects on global trade and investment, including the impact on countries like China and the UK. Finally, the essay explores the concept of emerging economies, highlighting the characteristics that define them and identifying key areas of economic expansion, with a specific focus on the BRIC countries (Brazil, Russia, India, and China) and their potential in the global market. Desklib provides this essay as a solved assignment example for students.

Running head: SOCIAL MEDIA
Social Media
Name of the Student
Name of the University
Author Note

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Part B-
a. Introduction
In recent time the social media firms such as Facebook, Twitter are facing
immense risks due to the government policies of US. This essay briefly describes the
impact of the government policies on the social media firms in US. The income of social
media from the selling of data, issues regarding misuse of the personal data is discussed
in the later part of the essay.
Generation of income by social media firm
The social media firms earns a lot from the selling of the data and advertisement. It is
estimated that $51.3 billion USD would be earned as a revenue at the end of 2018 from the social
media advertising and the estimated amount per user is almost $17.24. Market studies showed
that the annual growth of the revenue is almost 10.5 % per year. The price of the personal data
selling is changed according to the health condition or the profession of the people. The value of
a personal data of a health professional, accountant is almost $0.20. In case of diabetes patient,
people with pain or headache, the amount jumps to 0.46USD per person (Ivanova, 2018).
Misuse of the personal data
According to a report of The Guardian by Graham-Harrison & Cadwalladr ( 2018) , it is
seen that the data analytic firm ,working with the Donald Trump’s election team , harvested
almost a million of Facebook profile data of the US users in order to analyze the voters of the
US. They used those data for making a powerful software that could predict the choices of the
ballot box. It was investigated that the those data were collected through an app named
thisisyourdigitallife . This incident was the biggest data breaching case by a tech giant till now.

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Cambridge Analytica revealed that they spent almost $1 million for taking the Facebook profile
data (Graham-Harrison & Cadwalladr, 2018).
Regulations
Social media firms have to follow various laws and regulations in order to operate in US
and they have to maintain those laws. The existing policies for the social media in US restrict the
use of any logos or images by the third party without taking permission from them and the
websites of the social media should not post any discriminatory, offensive, unlawful and racist
content in their page and they have to maintain those regulations strictly. All the contents should
be verified by the official sites of the government agency. The new law allow the online services
to take the data only after taking permission from them (HHS, 2019).
Impact of regulations on revenue and survival of the social media
Due to the regulation of data protection, the revenue of Facebook is greatly hampered.
Not only in US, but in Europe the new Data Protection Regulation (GDPR) would affect the
revenue of Facebook. It is estimated that, the revenue of Facebook will be almost reduced by 7%
of its previous amount and it will be almost 2.8 billion USD. In addition to this, the law breaking
will reduce the global revenue of Facebook by 4% (The New York Times, 2018).
Conclusion
Lastly it can be concluded that, the unethical data harvesting of the US voters affected the
Facebook by many ways such as their worldwide revenue is lowered and as well as the
reputation of the tech giant is also reduced. This breaching is counted as one of the biggest
breaching by a tech giant.

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b. Introduction
The economic policy of the president Trump will affect the economy of US and as
well as other countries of this world like UK, China. In this essay, the nationalistic policy
of Donald Trump, the economic policy and its impact on the global economy are
highlighted.
Trump’s nationalistic philosophy
President Trump had labelled himself as a Nationalist who only would think about his
own country and he would not care about the wellness of the world. While being a Nationalist he
would implement policies only for the wellness and development of America. However, it is
quite evident that, the Nationalist approach towards the US economy and policy will greatly
hamper the condition of the US and as well as of the whole world. The president’s Nationalism
policy is another invitation for the division among the people of the US. As a part of his
Nationalism approach Trump had imposed tariffs on the aluminum and steel and this decision
had made astonished the whole world along with the republicans of US. The withdrawal of free
trading policy would affect the world economy in a large scale manner. All of the economist had
agreed that, the nationalistic policy of president Trump will make an uncertain the condition for
the investor in the worldwide manner (McCarthy, 2018). From the data assessment of the US
Bureau of Economic Analysis, it was seen that, the economic policy had lowered the foreign
direct investment (FDI) in US. In the first quarter of 2016, the net inflow of Chinese investment
was $4.5 billion, whereas in 2018 the investment was lowered to $300 million (Buxbaum, 2018).

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Economic policy
President Trump decided to impose a tariff of 25% on the steel and 10% on the aluminum
and this will be applicable for the whole world. However, Mexico, Canada and the EU limited
would get limited exemptions to continue the trade negotiations. The effect of this policy on the
UK would be manageable as their economy is more flexible to the impact of tariffs and they
would be less effective than Germany and China as those countries export more goods than the
amount they import (The Week Business, 2018). The investment from China was greatly
affected as the amount of investment dropped down to $89.7 billion in 2017 from $146.5 billion
in 2016 (Buxbaum, 2018).
Impact of economic policy
The effect of the policy on the stock market cannot be avoided at all in the whole
world. The impact not only affect the world economy, but affect the US economy also.
The policy will affect economy of steel economy of China as well. According to a report
of BBC news, the 20 million tonnes of Chinese steel has to send to other countries due to
the new policies of the president Trump. The UK industry also suspected that, the steel
industry not only would be affected by the policy but the oversupply of Chinese still will
affect the industry also (BBC, 2018).
Conclusion
Lastly, it can be concluded that, the economic policy and nationalistic approach of
president Trump will affect both the US economy and the economy of the World as well.
The tariff on steel and aluminum will cause the oversupply of Chinese still in the market.

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c. Introduction
This essay briefly discusses the emerging economy and the reason of those
economy for being an emerging an industry. In later part, the specific areas of the
economy that has possibilities of expansion in the world economy.
Emerging economy
An emerging economy refers to that economy that has low to middle per capita income
and the term was introduced in 1981 by Antoine W. Van Agtmael (Gwynne, Shaw & Klak,
2014). However, the term emerging economy has a large span and the countries of very small to
very big economy are under this large span of this term. For example it can be said that China
and Tunisia both belong to the emerging economy status. Although China is one of the biggest
power house of economy and Tunisia is far behind. The reason behind this categorization is that,
both the countries have entered into an economic development and reform programs (Gwynne,
Shaw & Klak, 2014). According to the report of Bloomberg China, South Korea, Thailand, Peru,
Malaysia, Indonesia are under the emerging economy category (Bloomberg, 2019). There are a
few characteristics that make a country to be under the category of the emerging economy
country. Firstly, the per capita income should be less than $4035. The economy must be
dependent on the agriculture and export the raw materials. High volatility is another
characteristics of the emerging economy. Capital Markets are generally have the lack of maturity
while comparing with the developed market (Lee, 2018).

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Areas of economy
In case of assessing the specific areas of emerging economy in the world it can be said
that, the market of a few countries have the highest chances of expansion in a worldwide manner.
The rapidly developing BRIC countries are on the top of the list and the countries are Brazil,
Russia, India and China. Brazil is the largest economy in the Latin America and many investors
like Petrobras are investing in this country. The economic growth of India also crossed China as
an emerging market in the world. India’s tech firm Infosys contributed to make India as a
country of emerging country. Russia’s transformation from the communist country to a Wild
west-like embrace of capitalism had affected the economy of Russia. However, Russia succeed
in overcoming the situation with the help of the investors (The Economic Times, 2018).
Conclusion
In conclusion, it can be said that, the emerging economy is very much important
for the developing countries and besides the developed countries those emerging
countries are the pillar of the world economy. The BRIC countries are at the top of the
list of emerging economy.

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References
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44320257
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Lee, X. (2018). Global problems threaten emerging economies but some are on firmer ground
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