Last Updated 08 Apr 2020

Globalization: Economics and World

Essay type Research
Words 496 (1 pages)
Views 248

By reading Skidelsky’s article, he demonstrated a great explanation about the globalization and the future strategy for the world. According to this article, Skid sky analyzed the past financial recession influence to the world and the current world’s major issues in the world. In the Skidelsky’s article, he provided main arguments about globalization development after the collapse in autumn 2008. Before he provided a solution for the recession, Skidesky illustrated the current order problems in the world with examples and scholar’s theories.

According to analysis Keynes and related theories, pointing the main problems of globalization, he believed that the most likely fate for globalization is to cooperate and implement cooperative solutions, which will be a quantum leap in the world to solve multiple problems. According to Skidelsky’s statement, the cooperation is necessary, which only accrued among states with the same values. Under this statement, he stated that the cooperation would be a useful tool to reduce the conflicts between democracy and globalization, which stated that non-democracy is important for states.

Skidelsky’s provided other two options for the world, including creating a world sovereign and a project of Pax Americana. By comparing with among those three options, related a theory applies and real examples, Skidelsky demonstrated that the cooperative is the main option for the world to recovery from the global financial crisis. In order to ensure his argument more convinced, he also analyzed the current economic world situation with two scenarios, disintegration and global compact, which are only relying on specific countries or groups.

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Therefore, to solve the recession issue to the world, the cooperative becomes necessary, because the world cannot cut the recession. In the cooperation theory, only the vital state can become democratic. Within the whole nation, stronger states should follow the rules to assist the weaker states to boost their economy. Skidelsky used the project for a league of democracies, George Soros to prove that cooperative between states is important. In the non-democratic version of cooperation, China and Russia are the major examples in the world.

Furthermore, he demonstrated the game theory and treaties, which depended on the self-interest, which becomes the main element to development cooperative in the worldwide. From my opinion, I believed that the cooperative is the main issue to solve the recession issue in the world. With the development of globalization, a stronger country should assist other country to boost on their economic development. There is no economic government in the world. All countries and states need to focus on their self-interest and use power of cooperative with other countries to recovery from the financial recession.

The implement cooperative solution is to reform in the state by cooperating within the country and cooperating with other countries in the world. By making joint efforts, the recession will be cut and the globalization will be powerful. Therefore, Skidelsky’s about cooperative argument is advancing and significant. There new solution will assist the world transfer from political economy to cooperation economy and the global financial recession will be reducing.

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Globalization: Economics and World. (2016, Aug 20). Retrieved from https://phdessay.com/globalization-economics-and-world/

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