The 2017 Trade and Development Report of UNCTAD report presents a strong argument for more ‘inclusive global economic growth’ and states the following in relation to the present status of the global economy: “The workings of the global economy and of individual national economies are closely tied to the cumulative sources of market power augmented through specific policy measures, including those that have helped to boost profits at the expense of wages. This has given rise to unstable growth regimes, driven by rising levels of debt, and it reinforces the point that hyperglobalization has become intimately connected to the financialization of economic activity and to concomitant increases in income inequality within and across economies” (UNCTAD, 2017; p27)
examine the above statement in line with economic growth of countries, including developed and developing countries, do you agree that hyperglobalization has had detrimental impacts specifically in terms of creating more instability in terms of economy of growth of countries – which references based the answer on?
