GLOBALIZATION LECTURE

A coplue of weeks ago with my english teacher we attented a live lecture on the subject of 'globalization'. The reader, Steve, spoke about globalization mainly from an economic point of view. He started giving us the current economic background:
- depression as bad as the last one (1931)
- banks don't have money, so the real world doesn't have money
Then he continued saying that globalization, even if it has some wonderful aspects (comunication technoligies-internet and free trade), has provided to this crisis:
- banks all around the world don't have money, because of globalization this crisis involved all countries > bank sistem is linked between all over the world
- global finance e.g. someone in China has to pay for someone else in America
- 'contagion'> is a medical term that used in an economic context means no barriers, no regolations between countries > the sickness of one country became the sickness of the world
- liquidity crisis: no money. Government started to help banks with tax money (our money!!)
- stock market: tells us that our economy is sick
- free trade > who benefits? banks and big brand companies ( e.g. Ikea, Gap...).
Unfortunately he didn't has time to conclude, but those are the other points he should has argued regarding the global impact of globalization:
- world poverty
- inequality between countries and within countries.
The solution?!? Is up to us...!!

I found this lecture very interesting. It helped me to understand how the economic world works and why nowadays we are facing this big crisis. Another thing that i liked is that the speaker used an easy, clear language.