| Description |
1 online resource (streaming video file) (48 min.) ; 287988123 bytes |
| Summary |
By the summer of 2007 it seemed as if the earth had turned into Planet Finance. As never before, the world was interconnected - but not just by cables, container ships and jet planes but by 24/7 dealing rooms and international investment banks.Globalisation is something we take for granted today. And yet for all the advantages of an interconnected world - perfectly exemplified by Hong Kong's astonishing humming container port, there's a downside to globalisation and that is its vulnerability - its vulnerability to financial shocks, because finance isn't an exact science, and its vulnerability to political forces beyond the control of the bankers.Just ten years ago it seemed that these crises were more likely to blow up in emerging markets, like Asia. Yet today, it's the West that's caught up in a full-blown credit crunch - while Asia seems scarcely to have noticed. Indeed a new phenomenon has come to define the world economy: American borrowers have come to rely on Chinese savers - a symbiotic relationship between China and America that Niall Ferguson calls 'Chimerica'.But can we be sure that Chimerica will save this era of financial globalisation? The chilling reality is that a hundred years ago - another age of financial globalisation ended not with a whimper, but with a bang. And there's no reason why that shouldn't happen again in our time.PRODUCTION DETAILS:Presenter: Niall Ferguson; Director: Adrian Pennick; Producer: Melaine Fall. A Chimerica Media Production |
| Event |
Broadcast 2011-09-22 at 11:00:00 |
| Notes |
Classification: G |
| Subject |
Balance of payments.
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Economics.
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International economic relations.
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International finance.
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Money -- Social aspects.
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Options (Finance)
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Americas.
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China.
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| Form |
Streaming video
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| Author |
Ferguson, Niall, host
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Pennink, Adrian, director
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