Tag Archives: globalization

Today’s Global Market and Globalization

25 Aug

The global market is now experiencing a turbulent journey owing to the collapse of theUnited States’ financial market. The unprecedented disintegration of some of the biggest international banks due to liquidity crisis sent shockwaves across the world. The U.S. Congress is currently discussing about the possibility of bailing out not just collapsing banks but also financially troubled auto-companies, while thousands of Americans are at the risk of losing their homes to foreclosure buyers due to the falling housing prices. Is this the global picture or effect of globalization? With the ongoing global events, do we now see a shift of today’s globalization to another form? If that is the case, then what form would this current economic catastrophe make?

From housing loans to banks to automakers— what’s next? Latest news reveals that theUnited States’ economic slump might cause massive job loss if not averted (Goldman, 2008). Indeed, the global economic crisis that sprouted in theUnited Statesis now the focus of economists across the world. Continue reading