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The transmission mechanism for the spread of crisis is globalized financial markets, which flip from being sensible to crazed at the touch of a few buttons.
Its platform demands a "necessary rupture" with Brazil's current economic model, to avoid "subordination to the interests and moods of globalized financial capital".
IN this high-tech age of bioengineering, supercomputers, space shuttles and globalized financial markets, the men and women with hands and muscles are still there, laying bricks, sweeping cafeteria floors, making hotel beds.
From early commercial capitalism in the Arab world, China, and Europe, to nineteenth- and twentieth-century industrialization, to today's globalized financial capitalism, Jürgen Kocka offers an unmatched account of capitalism, one that weighs its great achievements against its great costs, crises, and failures.
We also draw attention to the structural mismatch between a progressing globalized financial integration and the fragmented nature of the system of oversight, and illustrate that OBs' independence from local governments is an important but neglected issue.
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Just as today's globalized world allows the French actor to cross borders and trade passports to escape high French taxes, global financial institutions can "shop" for the national home base that provides the lightest regulation.
In today's globalized world, the financial and investment links between national economies are as or more important than the trade ones.
The subprime mortgage crisis leaked into Europe precisely because banking has become so globalized, and European financial firms lapped up the mortgage-backed securities that were touted by Wall Street.
"It is the market practice for a globalized company like Ant Financial to raise debt in USD," an Ant Financial spokesperson said of the reports.
A more globalized economy, Asia's financial crisis and the alarmingly weak balance sheets of many Japanese banks are pressing politicians to make difficult decisions that will create losers as well as winners and that require public explanation and support.
We live in an increasingly globalized and globalizing world.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com