The paradigm shift
Source: forbes.com
How financial system is affecting globalization and vice versa
When talking about changes in the predominant market paradigm we need to take a rather long time frame and evaluate how the existing financial system responds to shifts in globalization and vice versa.
In my view the whole process is one of reflexivity. That is to say, as a new market paradigm is put in place it affects long-term trends in globalization and the world economy. Consequently, macroeconomic trends start to affect this very financial system and this process usually continues