Chapters 22, 27, 33

There has been economic change after World War II. China has made a leap over the United States in terms of market exchange rates with China with a 5 to 6 percent increase annually. In the early 1900s, the United States had a lack of a central bank suffered a collapse. It then got revived in the 1920s with a trusted currency, until the Great Depression in 1929. There's a larger trade economy in today's economy with speed and complexity. The U.S has led in research and development in terms of spending. They have taken over other countries with technology as well. Two of biggest businesses are Google and Facebook. Investment banks have made a significant increase with the global market at 50%. The trade footprint has shrunk apparently. It was impacted the most during the 2008 financial crisis. The attacks on September 11th, 2001, made a control on payment system of the dollar. The country claimed to be running the global economy. The Seattle Protest of 1999, made destruction and problems of cultures and poverty. East Asia made the globalization possible with benefits. Market fundamentalism has been pushed by institutions and it can be bad for politics and economics. The countries of East Asia have grown and reduced the poverty levels and continuously has an active role. From the 1960s to the 80s, these countries the economy of East Asia didn't grow but remained stable. The benefits in developing countries can be to improve health of lifespans. There is global governance, where institutions will provide an ad hoc system. The IMF can lend out loans as a form of insurance. The company was founded during the Great Depression to act as a credit union. The effect of IMF programs can benefit medical treatments.