Integrated And Interdependent Global Economy Essay

Integrated And Interdependent Global Economy - Essay Example This report declares that though globalization has succeeded in making the people aware of the need of collective growth, still political problems, terrorism, internal agitations and political concerns have retarded the progress of collective economic growth. Most of the left parties all over the world are still looking suspiciously at the interdependence of economies since they are afraid of some kind of a hidden agenda in this concept by the capitalist countries. They believe that globalization and liberalization policies are implemented by these capitalist countries in order to exploit the wealth of poor countries. But in reality the China like socialist countries were blessed immensely by globalization compared to capitalist countries like America and Britain. As countries become increasingly interdependent, we must all turn our attention toward further integrating economies and making the benefits of growth inclusive, so that nobody is left behind. The end of cold war era though helped super powers to concentrate more on economic terms, increased terrorism and conflicts between countries definitely retarded the growth towards an economically prosperous world. This paper makes a conclusion that Interdependence of economy and economic integration is a subject still at its early stages of development. Though theoretically economic integration or economic interdependence concepts are believed to be the best solution for the economic development of the world as a whole, it needs to be studied more based on practical experiences in future.