The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

For East Asia, Crisis Prompts a Rethinking of Dependence on Exports

Trade dwindling around the world spurs new financial strategy in East Asia
Keith Bradsher
March 5, 2009

Stop Intervening: Greenspan

Currency market meddling brings warning from Fed chief
March 4, 2004

A Faltering Solidarity? EU Resists Eastern Bailout Pleas

EU cracks under pressure as individual countries keep their hands to themselves
March 4, 2009

Where Are the Jobs? The Harsh Truth about Outsourcing

It's not a mutually beneficial trade practice – it's outright labor arbitrage
Paul Craig Roberts
March 15, 2004

British Unions, Angry Over Use of Foreign Workers, Stage Walkouts

Walkouts reflect deepening anxiety about job security in the wealthiest nations
John F. Burns
February 3, 2009