Preface to First Edition
This book comes at a time when we are grappling with the challenges of a global economic crisis, the ramifications of which are as severe as that of the Great Depression of the 1930s. In a world where economies are increasingly integrated and open to cross-border trade and investments, we have experienced the benefits of globalization, be it in small or large measure. And now, we are witness to the other side of globalization and can see how fast the economic ills of one country can spread throughout the globe and affect people and institutions the world over. An overview of the developments that led to this crisis and its aftermath will help us appreciate the integration of world economies.