Titlebook: Globalization and the State: Volume II; Trade Agreements, In Carlos M. Peláez,Carlos A. Peláez Book 2008 Palgrave Macmillan, a division of

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Vulnerabilities of the Global Economy,The most critical vulnerability of the world economy is the possibility that housing events in the United States could create a broader credit contraction. Such an event or a similar shock could erode the perceived quality of US debt, causing disorderly exit out of dollar assets.

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lities. Issues covered include trade agreements, poverty and inequality, financial globalization, the environment, international economic law and threats to the future of globalization.978-1-349-30192-8978-0-230-22829-0

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https://doi.org/10.1007/978-3-642-41942-3ion within the nation state. The benefits of finance for efficiency and growth constitute the basis of the argument for freer capital markets. The empirical evidence on the efficiency and growth effects of financial liberalization is still debated by the profession.

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