Answer to Question 1
Globalization is the integration of states through increasing contact, communication, and
trade, as well as increased global awareness of such integration. There will always be
winners and losers in any changing economy.
Answer to Question 2
Myriad economic and political factors caused the global financial crisis, and the
particulars of the crash, especially the investment instruments themselves, are
incredibly complex. Indeed, former chair of the U.S. Federal Reserve Alan
Greenspan noted that a key cause of the crisis was the inability of the world's most
sophisticated investors and regulatorsthe people who actually created and
worked with these instrumentsto understand the.