Globalization's Limits: Conflicting National Interests in Trade and Finance
So far there has been only praise for globalization. However, the export wave of China’s manufacturing machine and, more recently, the Global financial crisis show that globalization has limits.
Globalization, the internationalization of trade, and financial integration are having enormous implications for businesses as well as for the whole economies of countries or blocks of countries. In this book Dr Chorafas argues that research is now producing evidence that there are limits to such globalization and amalgamation and that these need to be better defined and understood if some of the problems now being identified are to be prevented from applying the brakes, or worse, putting the process into reverse gear.
The author examines the impact on countries such as the United States and European Union of occurrences like China's emergence as a massive manufacturing platform and the distortions of trade that result, affecting countries' GDP and creating problems such as uncontrollable current account deficits. He also considers the effect of Sovereign Wealth Funds as new entrants on the scene. These, he argues, are seen by some as 'the Trojan horses of state capitalism', particularly in what he defines as the 'absence of a global sheriff'.
Globalization’s Limits looks at the EU and the Euroland as a test of globalization. The conclusions Chorafas draws about the effect on member states of pan-European banking, and the Euro as common currency, have implications for Britain and for the rest of the world. Issues relating to missed opportunities and leadership beg questions such as 'Who, if anybody, is or should be in charge of global monetary policy?
What people are saying - Write a review
Impact of a Hollowing Economy on the Middle Class
Risks and Opportunities in Globalized Financial
Monetary Policy in a Global Economy
Chinas Banks and the Economy
Financial Integration in the European Union
Curse or Blessing for the EU Economy?
Establishing a Sustainable and Credible Common Currency
The Birth of European Monetary Union and Advent of the Euro
The Euro is a Currency without a Country
The Argument Against Free Trade
Globalizations Unexpected Consequences
The Greatest Danger of All is Protectionism
The Rise of Asian Giants
Is China Emulating Japans Rising Sun?
India versus China
Global Firms from Emerging Countries
State Planning as Alternative to Global Firms
The Great Leap Forward in Technology Recalls Maos Time
Pollution Too Got Out of Hand
Contrarian Opinions about Chinas Commercial Threat
Globalization and the European Union
World Trade China Price and the Doha Round
Sovereign Wealth Funds
Challenges of a Single Currency
A Positive Example Germany Thrives with the Euro
Italys and the Euros Years of Crisis are Not Over
A Simulation by Standard Poors
Eurolands Missed Opportunities
Clash of Dirigisme and of Free Economy
Treaty of Lisbon and ECB
The EU Presidents Accountability
Eurolands Stability and Growth Pact
Fireworks with Financial Stability
The Way to Come Up from Under