“THE NEW NORMAL IN THE 21ST CENTURY IS EQUITABLE GLOBALIZATION"
"TOGETHER WE STAND, DIVIDED WE FALL"
The "new normal" in globalization refers to the post-crisis era (following the 2008 financial crisis) characterized by slower economic growth and increased volatility.
Equitable globalization in the 21st century aims to ensure that the benefits of globalization are shared more fairly among all nations, addressing issues of income inequality and development disparities. It involves moving beyond the "old" globalization, which focused on trade and goods, towards a new paradigm that prioritizes digital integration, knowledge exchange, and more inclusive global governance.
Elaboration:
The "New Normal":
Following the 2008 financial crisis, many countries experienced persistently lower GDP growth, known as the "new normal". This was partly due to the increased exposure to global shocks and the impact of financial crises on short-term growth, as highlighted by studies examining the relationship between globalization and economic growth.
Equitable Globalization:
This concept aims to address the uneven distribution of benefits from globalization, ensuring that all countries, especially developing nations, can participate and benefit from global trade, investment, and knowledge exchange. It involves addressing issues like income inequality, poverty reduction, and sustainable development goals.
New Globalization Paradigm:
The "new globalization" is characterized by:
Digital Integration: The rise of the internet and digital technologies has created new global markets and facilitated rapid economic integration.
Economic Fragmentation: The global economy is becoming more multipolar, with various countries driving growth, shifting from the dominance of a few major economies.
Knowledge and Innovation: Globalized ideas, technologies, and organizational models are increasingly exchanged, leading to rapid innovation and organizational change.
Shifting Focus:
The new globalization moves beyond the "old" model, which primarily focused on the movement of goods and services across borders. It now encompasses digital integration, technology transfer, and the global exchange of knowledge and ideas.
Inclusive Global Governance:
Equitable globalization also requires a shift towards more inclusive global governance structures that better represent the interests of developing countries and address issues of inequality.
Examples of Equitable Globalization Initiatives:
Trade Agreements: Trade agreements that promote fair trade practices and address issues like labor standards and environmental protection.
Development Aid: Financial and technical assistance to developing countries to support their economic growth and development.
Technology Transfer: Facilitating the transfer of technology and knowledge from developed to developing countries to promote innovation and economic development.
SUPPLEMENT
TENETS OF TRUST LEGACY
GLOBALSOUTHALERT – #06 | O-SERIES: HUMONGOUS LIQUIDITY TURNOVER : TRUST/FIDUCIARY PATIENT CAPITAL HANDSHAKE WITH ONE OR MORE BORROWER INTERMEDIARY/IES BOOSTS PLOUGHED BACK EARNINGS FOR PARTICIPATING FINANCIAL INSTITUTION/S ( TYPICALLY ONE OR MORE COMMERCIAL BANK/S). For Exhibit 1 [ Mortgage Backed Security (MBS)] , Please Visit: Fannie Mae : Financial Reports – FY 2021 | For Exhibit 2 [Asset Backed Security (ABS) ] ; Please Visit : Ford Variable Funding Note Prospectus, June 26, 2009 |
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