The research in this paper finally points out that globalisation has seriously affected the financial markets across the world and the banks and financial agencies were most affected apart from the common people. However the world is full of complexities and hence multidimensional model can create problems. This problem has to be undertaken with tactfulness and existing machineries of the government will not be sufficient in this. G7 which involves managing differences and solve problems may not be the right choice and a better group must be evolved in place of this. World Bank, IMF and WTO are the new groups which can support the steering group. The core function of this group will be to recover the economy from down sliding and suggest suitable reforms for the financial system. Since the global energy markets are at a mess a bargaining may be done between the producers and the consumers. The bargain will include sharing plans which will ultimately affect the supply of these energy resources. (Zoellick, 2008) The basic idea is to improve efficiency in these energy sectors. Thus a multidimensional corrective approach should be adopted.
In conclusion, it is quite clear that much of the criticism directed at global capitalism is justifiable, especially in the context of the developing world. The objections related to this economic system are part of a broader critique of contemporary industrial societies. These criticisms include deceptive mass advertisements, over-population, environment damage, toxic dumping, corporate greed, etc. The global capitalists, who are essentially based in Western democracies, can virtually dictate terms of trade for the rest of the world due to their military and economic superiority. And being the torch bearers of unfettered laissez faire capitalism, the powerful business interests often dictate local government policies (Kukec, 2007). This heady mix of wealth and power has so far led to outcomes that have harmed communities at large and the environment in which they live. The poor people in developing nations are especially badly hit by this phenomenon. Seen in this context, the adoption of a multidimensional remedial approach to globalisation is much needed, so that its benefits reach all sections of society while also preserving the environment.
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