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G G-7. see Group of Seven (G-7) General Agreement on Tarriffs and Trade (GATT), 33 Germany automobile industry, 169–72 bribery and corruption, 192 capital markets, global, 38 economic development in, 4 eurocurrency and, 78 financial services, 172 foreign direct investment, 177 mergers and acquisitions, 176 technology change in, 7 Glass-Steagall Act of 1933, 32, 39, 172 globalization Asia and, 220–21 China and, 233–35 currency crises and, 61–69 economic growth and, 4, 241–42 Enron scandal and, 201–4 foreign exchange markets and, 1–2, 86–88 future of, 135–38 mergers and acquisitions and, 166–69, 183 n.7 money laundering and, 210–13 multinational corporations (MNC) and, 162–66 New Economy and, 146–47 organized crime and, 205–7 post-September 11, 129–35 poverty and, 123 process of, 108–15 technology and, 9–10 terrorism and, 204–5, 208–10, 213–16 Tobin tax and, 93–94 . see also antiglobalization gold standard, 23, 34 governance, 187, 216. see also corporations, governance government crime and corruption of, 207 erosion of nation-state, 163, 180–82, 216 politics and succession in Chinese, 233–35 role in capital markets, 20 stock market intervention, 27 government bonds, colonial, 24. see also U.S. Treasury bonds Great Depression, 30–32 Greenspan, Alan, 12, 91, 152, 195 gross domestic product (GDP), 3, 5, 190–91 Group of Seven (G-7), 6, 34, 107–8, 212, 226, 228 guerrilla warfare. see terrorism H hedge funds, 74, 87, 94–95, 97–102, 194–95 hedging, 20, 197–98 herd behavior. see behavior high-yield bond market. see junk bond market hostile takeovers, 183 n.7 human rights, antiglobalization and, 117, 119–23 I imperalism, globalization and, 120–23 India antiglobalization and, 129 bribery and corruption in, 192 capital controls, 95 economy, 66–67, 135 Enron and, 200–201 globalization and, 66, 124, 241–42 post-World War II development, 221–22 poverty and global integration, 113 Indonesia Asian contagion in, 10 bribery and corruption, 193 currency crises, 66, 100 economic decline of, 225 financial crises, 45, 120 multinational corporations (MNC), 166 post-World War II development, 221–22 inequality, international, 112–15, 119–23, 241 information technology (IT), 3, 145–47 initial public offerings (IPO), 2, 143, 149, 196–97 insider trading, 26–27, 38, 155, 186–87, 204, 215–16 insurance industry, 20, 172–76 integration, 108–15, 171, 207, 234, 240–41 Inter-American Development Bank (IADB), 63, 70 International Monetary Fund (IMF) antiglobalization and, 6, 107–8, 120 corruption and, 191, 205–7 creation of, 33–34 crime and the, 205–7 emerging market policies and, 44–48, 241 fixed exchange rates and, 92–93 globalization and, 110–15 money laundering and, 210–13 reform of the, 126–29, 140 n.56 technology bubble and, 145–47 terrorism and, 215 Third World currency crises and, 48–52 Washington concensus, 44, 59–63, 66, 111–12 |
international trade, 19–20, 32, 33, 163–66 Internet antiglobalization and, 117–18 bubble of the 1990s, 143–47, 150–54, 195–97 China.com and the, 2, 6, 151 currency trading and, 86 erosion of nation-state and, 180 foreign exchange trading and, 102 investment banking creation of U. S., 28–29 crony capitalism and, 194–97 Enron scandal and, 202–4 foreign exchange markets and, 74–75 globalization and, 2, 110–15 investigations of, 196–97 mergers and acquisitions and, 172–76, 178–90, 242 speculation, financial, 4 technology bubble and, 150, 155 terrorism and, 204–5 trends in the 1990's, 7–8 Ireland, 111–12, 177, 241 irrational exuberance, 11–12, 91–92, 152. see also stocks Isreal, 132, 151–52, 212 Italy, 172, 205–6 J Japan automobile industry, 169 bubble economy of, 225–28 capital markets, global, 38–39 economic decline of, 10, 135, 228–30 economic growth in, 5, 220–25 economic integration in, 113 financial services, 172 foreign direct investment, 177 foreign exchange markets and, 81–82 mergers and acquisitions, 176–77 organized crime, globalization of, 205–6 post-World War II development, 221–23 junk bond market, 38–41 K Korea Asian contagion in, 10 automobile industry, 169 currency crises, 45, 66, 120 economic decline of, 225 economic development in, 5 financial services, 172 globalization and, 241 post-World War II development, 221–22 L labor, 116, 136–37, 174. see also employment Laden, Osama bin, 204–5, 209 Latin America capital markets, global, 37–38 currency crises, 67–69 dollarization, 93 drug trafficking, 208–10 economic development in, 4, 23–24 financial services, 172 foreign investment, 47 globalization of, 224 government corruption in, 189 inequality, international, 120–21 multinational corporations (MNC), 166 technology impact in, 147 Washington concensus and, 63 law, 182, 187, 205–7, 212–13, 234–35, 242 legal system, 178–90, 190 leveraged buy-out (LBO), 38, 40–41 Long-Term Capital Management (LTCM), 8, 101, 194–95, 242–43, 244–45 M Malaysia antiglobalization and, 137 capital controls, 95 currency crises, 100 economic decline of, 225 foreign debt and, 125 globalization and, 65, 241 mergers and acquisitions, 176 multinational corporations (MNC), 166 post-World War II development, 221–22 managed economies, 4, 6–7 management, 20, 31, 244 mergers and acquisitions antitrust laws and, 30–31 automobile industry, 169–72 benefits of 1990s, 178–90 corporate restructuring by, 166–69 foreign direct investment in, 47–48 foreign exchange trading and, 103 |