GLOBALIZATION AND THE COMING WORLDWIDE GREAT DEPRESSION

摘要

Globalization is full of dispute. Here I would like to suggest a totally new perspective of globalization. I will elaborate how the globalization, under the name of liberalization of trade, investment and capital flow, leads to shrinking of world market demand and complete recession of the world economy. Further, I would like to argue that the next decade will witness a worldwide Great Depression, and in fact, with the collapse of Nasdaq in April 2000, the onset of the Great Depression may already have arrived.