From: Counting the CostCrisis upon disaster threatens to fracture the worldwide economic system after a long time of financial integration.The tip of the Chilly Conflict, free commerce and technological advances have helped create a world system that’s delicate to what’s occurring on the opposite facet of the world.
Globalisation has been credited for creating economies, rising incomes and lifting tens of millions of individuals out of poverty.
However the pandemic and the conflict in Ukraine have uncovered the fragility of that financial interdependence.
On the identical time, globalisation has additionally been criticised for rising inequality, and worldwide charity Oxfam says the world’s richest 1 p.c pocketed practically twice as a lot wealth as everybody else during the last two years.
Is globalisation breaking down or reworking?
![Is globalisation breaking down or reworking? 6 Is globalisation breaking down or transforming?](https://i0.wp.com/fifanews.net/wp-content/uploads/2023/01/Is-globalisation-breaking-down-or-transforming.jpg?resize=860%2C484&ssl=1)