Economic globalization is as old as history a reflection of the human drive to seek new horizons. Rather than being somehow the architect or promoter of globalization, we really are trying to understand it and, to some extent, be a factor to moderate the downsides of globalization. Whatever we do with crisis management, the most important thing to achieve is sustained growth in the world economy. Ours is the first generation in history that finds itself in the position of being called upon to influence global affairs not from a position of military conquest or imperial power, but through voluntary international cooperation. Globalization is not painless.
Economists talk in the abstract about labor moving from low productivity to high productivity uses.
But it is individuals and families who have to do the moving. The IMF has become the Typhoid Mary of emerging markets, spreading recessions in country after country. Every nation needs to decide for itself how and how quickly it wants to open up to international finance markets. I am prepared to give home-grown experiences a chance. Send your comment to our editors .