IS 101 #11 - #11 16:03 (Probable)Implications...

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16:03 The Global Financial Crisis and some (Probable) Implications 1. Introduction Greatest financial crisis since Great Depression Great Recession   global credit crisis, crisis in liquidity and confidence.  Routed and  began in US but heavily effected Europe.  Investment banks and housing were core but  once it began it effected almost every field and market.  Early fall 08 – Early spring 09.  Was a major turning point in global economics. Long-term Implications End of Market Fundamentalism Global Interdependence of Markets End of Unipolarity Reform of IOs? Negative Effects on Poor Countries?         End of supremacy of the West, accelerates the rise of the rest (China               and  India) 2. Origins of the Crisis General Context Global Expansion of Wealth Growth of Credit Markets The absence of deregulation is being blamed for much of this.  The ease of entrance for  states into markets is also a factor.  States are taking an aggressive role in markets. Shows global integration.  Ex: this is a crisis that started in the US but it rapidly spread  all around the world.  Additional ex: once the crisis was recognized, there was global  cooperation to fix it. Coming out of the crisis, US And Europe are growing at 1-3% while China is growing at  10%. Global capitalism will end if it does not adapt. Reform of IOs Has the shifting of global dynamics passed up the IOs?  Have the IOs caught up with  the change? Will there be a net negative impact on the bottom billion?
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This note was uploaded on 11/21/2011 for the course POLI SCI 101 taught by Professor Mayer during the Fall '08 term at University of Wisconsin.

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IS 101 #11 - #11 16:03 (Probable)Implications...

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