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Advanced Economies and Emerging Markets by Rajabahadur V. Arcot, Harry Xia, Carlos Frota, José Alves, Marcus Goncalves

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CHAPTER 5

Global Economies at War

Overview

More than half a decade has passed since the financial crisis hit, traversing the global economy very rapidly, confirming just how interconnected the world has become as ideas, information, capital, and new technologies have streamed across borders with increasing ease. Nevertheless, the lack of sustained financial crisis response has made it clear just how fractured the international political landscape has become, as advanced and emerging economies’ diverging interests make global coordination ever more difficult. Hence, despite sustained globalization, and in some cases because of it, we are seeing a growing vacuum of global leadership, as well as traditional geopolitical risks, which consequently ...

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