Episode 3 The New Rules of The Game

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Episode 3 The New Rules of The Game

Capitalism

Malaysia's Prime minister believed that capitalism could get larger and truth be told and only they can manage to beat the communism. We want those to be apart of the free trade market and nothing like the centrally planned system.

Hernando de soto an original economist in the developing worlds. Hernando hopes to clear out the talks about wealth, poverty and change capitalism for the less fortunate and poor.

The Global Market

With California having the biggest pension funds in America called CalPERS and what they do is help with retirement savings for over a million employees. In the beginning CalPERS put money into only America but with the growth in globalization a 1/4 of the money is heading overseas.

In the trading the greatest and most used trade is money as $288 trillion dollars have been traded in currencies , it is non stop trading between the flow of stocks, bonds, and currencies globally; and with the increase of the global market anyone can trade as long as you have saving pensions, or mutual funds.

Terrorism

all anticipated that crisis and attacks were unavoidable in the growth of globalization. Kind of like the bullet that was shot by a terrorist started the first worlds. Also the U.S economy was already experiencing a downturn the attack of 9/11, and it all caused global economy to go terrible with close to millions of work places and jobs being lost.

After 9/11 a new trade negotiations were happening, and the worries of the developing world at the top of the plan. Robert Rubin says that despite fact that the 9/11 attack affected the global market, Robert still says with the brand new technologies that the breaking down of trade and capital market barriers can play a part to the global economic well-being very much.

Contagion

There is a hedge fund by the name of LTCM it controls over $100 billion of world assets that have invested money into the southeast asian market. Also with the drop due to the contagion of the southeast asian market and the great amounts of money that was invested, LTCM went into a crisis as well. If LTCM goes down americas economy would’ve stopped, which means banks came together to save LTCM and stop a disaster.

The global contagion engulfing all of all asia and losing $116 billion which soared out of the southeast american markets. The contagion had spread so much worse than America though. Billions of dollars were needed to assist the Southeast asia crisis. After they had controlled the contagion it had spread to Russia.

Globalization

While the 1992 presidential campaign was happening, President George Bush introduced NAFTA which would eliminate tariffs and allow free trades with Canada and U.S as well as Mexico. Clinton thought that this was a great idea because it could have brought confidence to the global market.

The start of NAFTA and a massive global market opening up this gave millions of opportunities for new jobs in third world countries and almost half a milion new jobs in america