Question

Write essay on globalisation and 21st century

Answer 1

The global financial crisis began to show its effects mid 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and even the wealthiest of governments have had to develop rescue packages to bail out their financial systems. Many people are concerned that those responsible for the financial problems are the ones being bailed out. However, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. This problem could have ultimately been avoided if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others’ viewpoints and concerns.

Globalization in the 21st Century

Recent decades of globalization have created a more inter-connected, interdependent and complex world than ever witnessed before. While global policy has focused on facilitating integration, the implications of growing interdependence have been largely ignored. The acceleration in global integration has brought many benefits, but it also has created fragility through the production of new kinds of systemic risks.

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