Globalization's Achilles' Heel - Assignment Example

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The main idea of the article is to discuss some of the vulnerable issues of globalization. The idea of globalization itself has been discussed for many years. Globalization definitely contributed to the increase of people's welfare and prosperity of some of the countries' economies…
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Globalizations Achilles Heel
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The examples of such changes and interdependence are the global financial crisis, which took place a few years ago, the cut of interest rates in the USA due to changes in global money flows, the present political and economic sanctions, imposed on Russia because of events in Ukraine, and many other. The combination and controversy of personal countries' interests and the necessity to make the global system work can lead to instability of the global economy functioning. The complexity, high frequency, and speed of changes make the world more unstable and fragile. The misunderstanding of the events and their reasons, lack of guarantees and the difficulty to predict future make people fear and panic, even though the overall indicators of people's welfare increased in the whole world. So as globalization becomes more and more complex, and it cannot be stopped, it is better to consider it as a condition of future development of the world, rather than one of the possible ways. Read More
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