The Butterfly Defect
How Globalization Creates Systemic Risks, and What to Do about It
Summary:
The book examines the systemic risks and vulnerabilities that arise from the interconnectedness of the global economy, such as financial crises, pandemics, and cyber attacks. It proposes strategies and policies to manage these risks, emphasizing the need for improved global governance and cooperation to ensure the benefits of globalization are not undermined by its inherent complexities and potential for widespread disruption.
Key points:
1. Globalization Risks: Globalization can lead to complex, interconnected risks that may cause widespread damage. While it has benefits like economic growth, it also creates vulnerabilities.
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