The Global Economy 1 A Challenge to National Economies

The topic under discussion: The Global Economy: A Challenge to National Economies. Specifically, as trans-national economic organizations become more important players in the world economy, and as developments in the world economy have ever greater and more immediate consequences for national economies, governments are faced with a growing number of constraints on their actions.

The Roundtable on the Global Economy and Its Implications for National Economic Policies began to analyze this situation, while identifying some of the most important challenges facing governments during the period of increasing economic globalization, as well, outlined the likely outcomes of failure to address these challenges adequately.

Globalization is at its most intense in the economy, science and technology. Transnational corporations and banks, unregulated financial flows, global telecommunications and information networks, modern transportation systems, the emergence of the English language as a means of "global communication", and large-scale migrations have the combined effect of eroding nation-state boundaries and shaping an economically integrated world.