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The Answers: The Global Economy by Jeremy Kourdi

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LIBERALIZED SHORT-TERM CAPITAL FLOWS – “HOT MONEY”

“The freeing of financial markets to pursue their casino instincts heightens the odds of crises... Because unlike a casino, the financial markets are inextricably linked with the world outside, the real economy pays the price.”

Lawrence Summers,former US Treasury Secretary

There are many critics of globalization and not all of them are right. There are some anti-globalization protesters who are always against everything linked to world globalization. But the truth is more complex than putting all aspects of globalization under one umbrella.

The free trade of goods has helped lift millions out of poverty in the last decades but it has also hurt those economies that were not ready for open competition. ...

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