This page has been archived and commenting is disabled.
The Two Eras Of Financial Globalization: A Flashing Red Warning
The rise of cross-border investing in recent decades is not the first time the world has seen a significant burst of financial globalization. Indeed, the Second Industrial Revolution coincided with a new era of capital mobility that extended roughly from 1860 to 1915. Foreign investment assets rose to 55 percent of GDP in the major European economies.
This wave of financial globalization reflected European investment in colonies and former colonies. As the British Empire reached its peak, Great Britain alone accounted for half of the foreign assets of the period. These investments helped fund the industrialization and urbanization that transformed recipient nations such as Canada, Australia, and Argentina.
But the ending of the first age of financial globalization provides a cautionary tale. Two world wars and a global depression not only brought this period of integration to a halt but also ushered in six decades of tightly restricted capital flows and pegged foreign exchange rates. Foreign investment assets as a share of GDP in the major economies did not regain their earlier peak until 1990. Today it is unclear whether financial globalization will rebound or whether we will enter a similar period of more insular national financial markets.
Source: McKinsey
»
- 16444 reads
- Printer-friendly version
- Send to friend
- advertisements -
wwIII
thats why they are probably building that space station, their will be no place to hide for those banker elites once the chain reaction starts
Mordor, bitchez!
Argentina spawned a broadway musical, what did Canada and Australlia do with their big chance at the spotlight?
William Shatner and Paul Hogan
+1 for mentioning Bill Shatner - aka Captain Kirk.
Oh Noes!!! Warren "Let's Plow Taxpayer Up Their Asses Some More Charlie Munger" Buffett is worried about how The Bernanke will "unwind" the Fed's balance sheet!!!!!!!!!
Buffett sees 'hair trigger' when Fed ups ratesBuffett is worried about Fed policy
LMFAO!!!!!!!
Will Buffett or Munger just die off already?
Jesus Christ we are never gonna get anywhere until these plutocratic old dudes are taken care of by Father Time.
Not much except to export a few things:
PM's, energy, resources, beer, beef, back-bacon, publicly educated college grads for US industry, actors, comedians, a great Lumberjack song, some pop & rock songs, news anchors, hockey players, UN peacekeepers (so US GI's don't have to be used for target practice), and hunting & fishing trophies. And fake passports to the CIA. Sorry about the fake passports, world.
mmmmmmmm beer
Lumberjack song?
http://www.youtube.com/watch?v=5zey8567bcg
Oh okay, just askin'.
Oh jeez. Another post about how the world is about to crash.
Yes, the fact that ZH came into existence 4 years ago (a massive, historic legacy long enough to fairly compare it to the success-- or failure more accurately-- of fiat fractional reserve monetary systems) and was the literal first publicly available source to highlight such things as HFT, etc., supports your point, and history will prove ZH wrong in retrospect about many of the issues it's choosing to highlight since. /sarc (since you're slooow)
I see that you edited your comment, fuckin' weasel.
WWI and II will be a picinic compared to what's coming.
That is a certainty... no nation has not used the arsenal at its disposal during a major war. In WWII the US, possesor of the worlds only nuclear weapons, managed to manufacture three. It used one for a test and dropped the other two...
LCDs are burning out all over the world. I fear replacements will not arrive from China again in our lifetimes.
Yet the Cycle repeats... World Wars in the Grand Scheme of things are irrelevant, so long as The Evolution continues. :)
Nothing that potentially involves nuclear winter is irrelevant, especcially in terms of human evolution
Nuclear Winter-Schminter, Life will adapt, so will we.
A World War is a controlled Event. :)
It will make human evolution significantly more interesting.
Perhaps the we will mutate into a species with the capacity for logic and reason.
My ass just started leaking oil, what do it mean?
If you dont have a cork, try some jewish toilet paper (rothschild script)
hope that helps
Fox News. That's what that means.
You're using too much lubricant.
stop eating 'tuna' ?
Pray that no one will come drill for moar.
your'e the new messiah the girls will love ya!
Imagine swimming in your OWN private oil pool at the turn of a tap !
You can insure your ass for any price; just name it!
You ate sushi tuna that wasn't really tuna.
Ya that's how banksters do it. Their greed attempts to kill everyone and end the world. That's why I don't like them.
Not quite as easy as bulldozing Palestinian villages, but hey...ya gotta start somewhere.
200yr Hockeystick chart w/ a jagged, descending top edge...hmmm???
Guessing this one will not make the financial advisor new client PPT deck?
financial globalization <---
insular national financial markets. <---
i'd say more globalization, but there may be an "adjustment" period.
Globalization ain't THE problem; it's the people RUNNING it.
So what's the story here?
We can look forward to 60 years of industrialisation because 2013 is just like 1865?
It's not ironic that the income inequality has increased to perverse levels since financial globalization has begun.
The average worker needs to work more than a month to earn what the CEO makes in one hour
http://t.co/NbhAVUdx3J
Maybe they'll get it right the third time!
Just a historical reminder : the first time somebody tried to achieve a universal empire using the OLD techniques of war and conquest was Alexander; didn't end well for him... but we keep trying!
It's wasn't his idea, so who was it that enticed him?
He wanted to out Persia Persia; Greece's ancient Nemesis and reference empire of that age. Also his mother, Olympia,thought she was Andromache's and Achilles blood line (Andromache, Hector's widow, married Achilles's son and was brought back to become his queen of Epirus), which made her son Alex inherit both Hector's and Achilles's blood line.
Uhm,
Genghis Khan did alright.So weird, all ZHers dreaming about WW. Dont worry you can eat your gold!!