The global economy Essay Example for Free

The global economy EssayIn a highly interdependent world, the global economy is one of the major concerns of countries since anything that happens to one countrys economy can largely affect other(a) countries, especially if the country where the stinting shift happened is as powerful and prominent as the United States of America. More importantly, the flow of goods, labor and resources need an enabler for their ease of operation from one country to another. With the rising doubts in the current system of the global economy, people argon today looking for ways to reform it. Capitalism, as the dominant economic model for the world was shaken with the fall in of Wall Street and the recession in America and elsewhere. The conundrum of global reform is that the proposals that go removed enough, much(prenominal) as establishing a global financial regulator, are wildly unrealistic, while those that are realistic, such as reform of the IMF, fall far short of what is needed. In the midst of all these problems, however, an economic try out on a large scale is happening in Europe.The European Union is not save a strong political bloc, but is also a consortium of economies that are working in concert to improve the economy in their region. Although this is not yet a shift to the American-style capitalism that dominates the world, this new economic movement could play a large role in the future as a replacement to the current global economy. b. Yes, one can be both a globalist and, at the same time, be culturally parochial. In both the West and the East, this is what is happening, which is why countries fail to reach agreements with the consensus of everyone in the international organizations they are in.In the north and south, conflicts spark in the opponent goals of cooperating with one another to make a separate globalized society and forwarding their own national interest. These are evident in Chinas continue efforts to expand its economy through an under valued Renminbi, and a nationalistic thrust. Sometimes, they even go to the extent of openly opposing Western nations that are not of the same mind as they are such as in the issue of the global climate where they agree that Western nations should do act on it but freeze off to act on the issue themselves prioritizing their economy over taking care of the environment.Western nations, on the other hand, are often criticized because of their pushing for a more global movement of goods, labor and resources while defend their own borders from competition. Another criticism they receive is that they exploit 3rd world nations while harping on the brilliance of service of processing these nations out of poverty. Even in smaller scales, that is, concerning the individual, have issues such as migrants who refuse to put on the cultures and laws of the country they migrated into and hold strongly on their own cultural backgrounds. c.Globalization is indeed inexorable. With the advent of t echnologies that race up this process, people need to correct to the growing interconnectivity of peoples that were once out of reach by thousands of miles. To adapt to the growing trend of globalization, there are many tools in our hands, one of which is the internet. The internet, as one of the causes of the speedup of the globalization process can be used by people to become a break apart of the greater global society through knowledge acquisition and even being active in other nations through having a voice online.Other technologies like mobile phones, VOIP, television, etc. can help us become more cosmopolitan. The most important tool in adapting to globalization, however, is our minds and that we must keep them open. With globalization as the marketplace for many ideas internationally, myopic views are causes of conflagrations between people and even nations.