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Unformatted text preview: AEM 442 Emerging Markets 09/10/08 Market D riven Economic Growth: Pro or Con? Markets have been around for as long as the human race has been in existence. Markets are simply a synthetic vehicle derived by the wants of man whereby items of “equal value” are exchanged. Even before fiat currencies, money was backed by items of value such as gold or even other currencies, and before that, societies participated in simple bartering and trading. An overarching problem associated with many of the older markets, however, was the ability to easily identify arbitrage opportunities. Now with our current global system and stock markets, the world is operating at more efficient levels than ever. I believe only Cuba and North Korea are the only countries who don’t participate in some form of global market system and the affects can be seen in their economic states as well. All in all there will always be some negative aspects to a globalized market place because nothing is ever cut and dry, but the positives are sure to outweigh the negatives. nothing is ever cut and dry, but the positives are sure to outweigh the negatives....
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- Fall '06