Resistance to Change Threatens Global Economy

Resistance to Change Threatens Global Economy - at www.moneyweek.com - the best of the international financial media

Post-election Germany appears to be a political wasteland. This is yet another example of one of the greatest tension points of globalisation resistance of the body politic to the structural reforms necessary for economic revitalisation and cross-border integration. It's hard to forge a new world order without breaking down the barriers that define the old way.

Yet there is great debate over how to pull this off. The reforms of globalisation shake the social contracts that bind nations together leading to recurring clashes between capital, labour, and deeply entrenched political power structures. A globalised world must come up with a new model of the political economy. Germany is struggling mightily with just such a challenge. But it is hardly alone.

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