Online Version Connection Paper Assignment

Article chosen

Darling, Alistair “International Cooperation Is the Way Out of the Financial Crisis”, The Wall Street Journal, March 13, 2010, Accessed from: http://online.wsj.com/article/SB123690430171914125.html

Central Argument/Claim

The author claims that by working together in close cooperation, the world can meet the challenge of emerging out from the financial crisis.

Explanation of Claim

In this article, the author has provided the solution of the world's most alarming problem in the form of the financial crisis. According to the author the world's monetary system needs to be restructured, keeping in mind three major reforms that are needed. He further proposed that these three reforms include:

Boosting the demand,

Reforming the global system of financial regulation, and

Increasing the resources of the International Monetary Fund (IMF).

It is a common belief that countries resolve their problem, not in isolation, but when they work together towards the betterment of their people and the world at large. While we believe that it is only in international cooperation that the countries find a solution to their issues and political upheavals, it is necessary to establish a platform where all the countries can engage in mutual collaboration (Darling, p. 190). The meeting of G-20 finance ministers in the United Kingdom is an important milestone in this regard because it engages all the principal countries on one common platform. These countries form about 80% of the global economy, realizing a place of support and strength for the entire world economy (Mc Murtry, p. 200-10).

Together, these countries can realize gains by collaborating mutually on various fronts. The disintegration and fragmentation of the world's financial sector can also come to an end through this cooperation. The internationalization of economies is evident in the contemporary period, in the development of the regional integration process. The author seeks to identify through analysis of two ideal types of regional construction: that of Europe and that of East Asia. The fundamental differences but also similarities in the emergence and evolution of these two models are highlighted. The transformation of these regional blocs in hybrid structures is strongly linked to external shocks and pressures on their members in the international environment (Darling, p. 190).

It is impossible to find in the past a time when the conditions for sustained and constructive cooperation between the American nations - and profits potential - have been more favourable. The Cold War is over, and politics in Latin United States is no longer shaped by security concerns. Latin American concerns about a political and economic domination United States in the region have disappeared and with them the fear of intervention Today, throughout the Americas, one perceives a convergence of interests and values ??around political democracy, the global competitiveness and economic and social progress (Darling, p. 190).

Sometimes it is a crisis of unimaginable magnitude that brings countries together. The deterioration of the world's trade system and the adverse global pressures are resulting in enormous turmoil. This can only resolve if we, on international levels, come closer together in order to remove our ...