Trade, Territory and Technology: Economic Crisis in the Global Economy

Problems like poverty and unemployment in underdeveloped countries cannot be solved by individual nations, but require the concerted efforts of the world as a whole. People in developing countries have lost confidence in the existing international institutions - which are supposed to be the protectors - because, at the time of crisis, they seem helpless in protecting the interests of poor economies. Institutions, such as the International Monetary Fund and the World Bank, did not do enough during the Asian crisis of the last century. As well, they were not forthcoming when the 2008 economic crisis hit the world economies. Therefore, there is a need for a global democratic government to make the world a more prosperous home for its inhabitants. This book examines the structural and functional changes occurring in the global economic system in the wake of the liberalization, privatization, and globalization waves sweeping across the world.