Análisis

New Delhi, 28 Oct (Jayati Ghosh*) -- It is clear from the past few weeks
that the developing world is far from immune to the financial crisis
originating in the West. Stock prices in emerging markets have gone on
similar roller coaster rides to those in New York and Europe.

Indeed, they have shown such very high volatility, going sharply up and down
on a daily basis around an overall declining trend, that the pattern is
reminiscent of the behaviour of stock indices in 1929/30 at the start of the
Great Depression.

Con la caída del muro de Berlín en la noche del jueves al viernes 10 de noviembre de 1989, se inauguró oficialmente la etapa de la globalización capitalista a escala mundial. Efectivamente, el fin del sistema económico del socialismo instaurado en el siglo XX y la transición al capitalismo por parte de las

Western politicians, business leaders and commentators seem paranoid about
state-owned sovereign wealth funds (SWFs), particularly those from the
Middle East and China. They fear that SWFs follow strategic political
objectives -- investing in Western companies and banks to secure control
of strategically important industries such as telecommunications, energy
and banking -- rather than commercial interests.

A protectionist backlash against sovereign wealth funds is fast emerging:

Realizada en Caracas, Venezuela, los días 8, 9, 10 y 11 de Octubre de 2008
con la presencia de académicos e investigadores de Argentina, Australia,
Bélgica, Canadá, Chile, China, Corea del Sur, Cuba, Ecuador, Egipto, España,
Estados Unidos, Filipinas, Francia, Inglaterra, México, Perú, Uruguay y
Venezuela,  *la C**onferencia Internacional** de Economía Política:
Respuestas  del Sur a **la Crisis** Económica** Mundial* promovió un
amplio debate sobre la actualidad económica y financiera de la economía