In the inception of globalization, Japan was unable to match the competitive business environment.This makes it possible to develop the different economies.
This can be done through the cross-border foreign investments in the different countries.
Commanding heights episode 3 summary free#
CALPERS head Bill Chitt thinks that free markets vital as they allow for wealth creation.Other countries fear globalization due to the differences in economic growth and integration with the developed countries. The world’s demographics are shifting and with looming financial crisis in many countries, the pension funds might collapse. However, the risk associated with such financial investments is very high. Most of the pension funds such as CALPERS invest in mortgage backed securities and real estates. Considering the nature of globalization, it would adversely affect the pension funds.The situation led to some serious effects by severe recession in the large corporation, Bank for International Settlements (BIS). Among those who bailed out the situation include the International Monetary Fund (IMF) and the Bank for International Settlements (BIS). The crisis was resolved from the support of U.S government that organized a $50 billion bailout. The central bank has to raise its interest rates, which become difficult to borrow hindering economic growth in the country. This affected foreign investments with the foreign investors removing their capital as well as selling off their shares. After the inauguration of the new president, he announced the devaluation of the peso by the central bank. The Mexican crisis of 1994 describes the financial crisis that occurred in Mexico in late 1994.The wave of establishing free trade zone motivated the passage of the agreement. Arguments against suggest that the nature of wealth distribution and equality was not being achieved since only corporations benefited with no provisions for protecting workers and the environments effects from the trade. Arguments for suggest that NAFTA would help in supporting the economic and political reforms in Mexico. This agreement introduced a free trade region in North America. Commanding Heights: The Agony of Reform.NAFTA is the North American Free Trade Agreement (NAFTA) signed between U.S, Mexico and Canada. What good will an economic reform offer, though, if we have already sacrificed the people whom we aim the reform for?Ĭran, W.
To add, only a small number of wealthy people benefit from the change as compared to the proportion of those who fall below the poverty line. However, the resolve to gain economic reform often leads to a monopoly of power, where the wealthy grows wealthier and the poor becomes poorer. There should not be homelessness, unemployment, and polarized economic and political power. Personally, I respect the idea of a growing economy. In the long run, what would it do to the people? How would it affect their everyday lives and their moral, ethical, and cultural grounds? Is it really worth it to sacrifice human beings upon aiming for reform? Is Machiavelli correct in saying that “the end justifies the means”?
How prepared are the people in embracing these kinds of changes? There sure would be differences in ways of comprehending these processes, but the general idea they would want to have will be on how they will benefit from these processes. Taking into consideration that the reform would involve liberalization, privatization, and globalization (LPG), we also have to gauge the familiarity of the people in the country who should benefit from the aimed economic reform. So, knowing the goals that we have, what processes, strategies, systems, and laws support the kind of change that we aim for? What implications would the reform make to the different sectors, to the government, and to the society, as a whole? I agree with this theory of aiming for economic development. First, what is the purpose of aiming for an economic transformation? Most perceptibly, we would like to give value to economic uplift and stability, free market economy, deregulation of market trades, etc we would like to participate in the global trend.
Commanding heights episode 3 summary movie#
As stated in the movie by Alejandro Foxley, they were “able to anticipate a global trend,” but “at a very high human price.”Ĭaught by the dialogue, I was able to formulate several questions which react to the scene. In Chile’s attempt for economic reform, the deregulation of markets and opening up of the economy started. This article is mainly a reaction on a certain scene from the movie Commanding Heights: The Agony of Reform. A Reaction on “Commanding Heights: The Agony of Reform”
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