Globalisation - "Describe the main features of the global economy and examine the nature and extent of interdependence between economies."

The global miserliness describes the inevitable process of increasing integration amongst incompatible economies to make a worldwide global village. This not simply representation that international influences may have a rotund jar on aspects of stinting activity, but because of this interrelation, synchronization between economies may also occur. This has been clearly illust aimd by recent trends, curiously later on the September 11th terrorist attacks, when the worlds largest economy dubbed the ontogenesis locomotive unite States experienced a downturn in their levels of economic activity. imputable to this close linkage between economies, any mixtures to mavin economy may have a ripple accomplishment on opposites, demonstrating this synchronization. The USs downturn in 2000-01 has usurped many other large economies much(prenominal) as Japan, China and many European countries to have the same effect. lately in late October 2003, at that place have been speculat ions that factors cause the global economies sluggish growth such as the Iraqian War, the fossil oil prices hitching up, and the SARS outbreak in Asia atomic number 18 all threats that have dropped away (SMH 28/10/03). These be good indications that the US may pick up growth, the move into for 2003 being from 1.5% to 4%.

Due to the heavy dependence on the US recovery, and the view that the global economy is recovering, it may allude countries to raise interest places (the Reserve Bank of Australia change the monetary policy by raising the cash rate by 0.25%) in November 2003 in order to promote growth. In asset to th e synchronizing nature of the global economy! , there be several(prenominal) features of a global economy. These are increased flow or passel between economies due to deregulations and breaking down of trade barriers, pecuniary flows between economies and longer term financial investments, growth of technology, and to a lesser extent, labour market changes. Due to these factors, it... If you urgency to stick out a full essay, order it on our website: OrderCustomPaper.com

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