Globalisation a Winner? (2017 Update)

Globalisation a winner for international market?

Is Globalisation an all out Winner for the International Markets?

Globalisation, a phenomenon that took the world by a storm. Everything changed. International financial markets started contemplating ideas to compete in a globalise world. Many economies crumble, new ones emerge. Globalisation has its takeaways. Whether it has brought a positive change to the way the world do business, or has it just turned the societies even more materialistic. With little emphasis on overcoming economic disparity within and among nations. Globalization is going on track, cheer for by all of the major economies and then the bubble burst. The 2007 – 2008 financial crisis changed the way the world economies viewed globalization. Thereby, paving the way for a new and invigorating perspective on how to analyze globalization.

Contemporary Environment

Today, the international financial markets depicts a situation. Whereby traditional sources emulating the investment patterns worldwide are taking a downward shift. Offshore Islands are one of the best ‘storage point’ for financial assets. International export markets are shrinking, or perhaps, not keeping pace with the predicted growth. Taking it a bit further, IMF officials recently term the contemporary economic environment as ‘an era of low growth’. Is all of this attributed to globalisation of economy? No. Is globalization a factor behind such sluggish growth? Maybe, Yes. It’s just a subjective concept. Glass half full or half empty depends on how you see things.

Look Inwards, The New Normal?

Some of the aforementioned factors have led to many countries devising their economic policies to incorporate more of the inward looking approach. Thus, focus is shifting from the integration with international markets to balancing and re-configuring domestic economic policies. Conventional wisdom in terms of international trade does not seem to hold ground anymore. Trade deals around the world are receiving dismal responses. Recently, the deal between the European Union (EU) and the United States had been protested against by the Germans in large numbers. The response to the Trans-Pacific and Trans-Atlantic trade deals is for everyone to view, analyze and comprehend.

What does the Future Holds?

Economies strive when they’re consistent in pursuing economic policies. Change starts from within. If economies are vulnerable, enough jobs aren’t created regularly, or there is a general sense of job insecurity, then it is natural that it’d result in a backlash. Which will then affect international trade dynamics. Globalization isn’t something to say goodbye to. It can still serve world economies well, but the is that economy at home first needs to be steered comprehensively. This is before chalking out any international trade deal.


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