We are living in a period of unprecedented interconnectedness. Humans have never been so easily able to share information, revolutionizing the way we live. Upon reading Jaskaren Athwals blog post about the European debt crisis, I took a step back and analyzed the bridge that connects humans worldwide – Globalization.

Globalization is a blessing and a curse. On one hand it brings people the world over closer than ever, in a way that is easier than ever. A person can speak face to face with a family member across the world with a click of a button over the internet. Goods from China can be bought and sold in Canada at the snap of a finger. The interconnectedness brings the economies of the world together like they have never been before, opening up new dimensions for trade. This connectivity however means that if something is going on in one market, all the other markets will feel the ripples as well. When the US housing market crashed in 2007, it marked the worst recession since World War 2. The American market is the strongest in the world and when it dipped under, the other markets worldwide followed suit. The effects were felt around the globe. I was in Spain and Portugal over the summer and it was clear to see what kind of toll the recession had taken on Europe. Riots were taking place in the streets over unemployment rates infront of my hotel in downtown Barcelona, with general strikes breaking out nation wide. With international markets being so closely connected through globalization, the effects of failure are felt worldwide. The American market is making turnarounds today but the European crisis will likely last until beyond 2014, proving that while globalization may be a beneficial force its negative effects can be devastating on the global scale.