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Can Corporations Defuse the Globalization Time Bomb?
Beginning of article
The markets demonstrated the dangers of financial linkage last month as stock markets fell in dramatic succession. But globalization of commerce is setting off harbingers of far more frightening dangers.
No one denies the enormous benefits of globalization. But like other revolutions, globalization also has a shameful face. William Greider, author of the essay that begins on the next page, argues that the incredible productivity that globalization has wrought leads to overcapacity across a wide range of industries. With supply outstripping demand, companies cut prices. That, he fears, will lead to worldwide deflation and, eventually, an implosion of globalization.
But …
