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The Threat and Promise of Globalization: Can it be Made to Work for a Brighter Future?

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Abstract

Powerful dialectical forces are at work as the world economy undergoes a structural transformation, one that promises hope and opportunity and the other that threatens a future of despair and breakdown. The lifting of the enormous psychological, social and financial burdens of the Cold War and the tantalizing promise of scientific/technological innovations, symbolized by the computer chip and fibre optics, encourage hope and opportunity; the despair and the traumatic fear of slow or cataclysmic breakdown stems from the symptoms of global crisis, or rather of three overlapping and mutually-reinforcing crises of trade and capital flows — the debt crisis; of equity — the poverty crisis; and of ecology — the environment/energy crisis.’

Keywords

Gross Domestic Product International Monetary Fund Real Interest Rate Capital Flow Capital Inflow 
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References

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© Pugwash Conferences on Science and World Affairs 1997

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