In the last post I reported that German policies and practices helped to stabilized their economy. But does this have any relevance for global issues? Can global problems be solved on the level of national policies? Please think about this question.
Of course an individual country's economic policy is designed to solve the particular problems of that country. America doesn't make policy designed to help Greece or China- we are concerned with our own economic well being. This shows the importance of nation states even in a highly globalized world.
But is this a bad thing? One could argue that making one's country healthy economically (and socially) can be good for the rest of the world, too. The case of Europe is obvious- the prosperity of one country will tend to spread to others in the EU (and of course the reverse is true- the decline in wealth of one member state will tend to put economic stresses on others).
Of course one of the central critical problems or questions with globalization is this: in the global economy, do rich countries prosper at the expense of poor ones? What do you think?
