The World became too much intertwined

Shunya Asano

Since countries in this generation are able to connect and trade without any hindrances, the world and global economy became too much dependent contemporary. It is almost impossible to avoid and eliminate globalization from the world economy since David Ricardo or other prominent economists discovered that the international trading system brings significant profit which was indicated in comparative advantage theory. Nevertheless, people often have variety perspectives to economic conflicts and theories. It is crucial to compare different point of views in order to find out core problems and confrontations.

“When Wall Street sneezes, the rest of the world catches pneumonia” (Popik). This sentence is no longer valid statement or metaphor phrase. We, citizens in the world, observed that the Greek economic corruption attributed the world economic recession. The core problem of this global economic disaster was not come from Wall Street in the United States.

According to Robert J. Carbaugh, “Globalization is the process of greater interdependence among countries and their citizens.” Unlike the Popik’s phrase above, this sentence which was brought from Carbaugh mentions significant interdependence through countries. This makes sense since the global economic environment which comprises all countries trading system and economic circumstance was devastated by the Greek financial debt.

When we compare these phrases from two different economic advocators, it can be explained that both of them support the theory of interdependence. When one country confronts economic crisis, the whole global economic system will be in chaos. This statement can be fitted the situation of Greece and the world economy contemporary.

However, it is still questionable to discuss whether the global market recession was attributed from interdependence. Both phrases advocate greater intertwines of the world. Nevertheless, it can be questioned why these economic advocators have different perspectives of connected world. Why one is focusing on one country which is the United States as a core country of world economy, and other advocator concentrates on the all countries as a globalization? This seems odd when we consider carefully. I personally declare that global citizens should deem these economic perspectives deeply and make efforts to analyze what was the real problem of the world recession rather than only concentrating on the Greek financial debt.

When we look wider scope of this economic recession, there might be another crucial or more disastrous economic conflict in the world. Nations such as European Unions and the United States are attempting to recover the financial crisis for the Greek government, but from my perspective, the more necessary economic remedy should be required not only in Greece but also in the world.

 

 

 

 

 

Works Cited

 

Carbaugh, J. Robert. Global Economics. Washington: Central Washington University, 2010.

 

Ikegami, Akira. Ikegami akira no manaberu news. Tokyo: Kairyusha, 2010. Print.

 

Odawara, Ken. Jijiryoku hattenhen. Tokyo: Riburu teku, 2011. Print.

 

Popik, Barry. “When Wall Street sneezes, the rest of the world catches pneumonia” ("When America sneezes…"). New York City 25 Sep. 2008. Web. 14 Oct. 2012.