Part 7/9:
Johnson articulates a significant theme: the suggested shift from prior trends of globalization to an era that may see regional centralization. Each financial crisis has showcased that problems tend to start at the periphery and ripple back towards the core, potentially adding strain on the financial systems.
The interconnectedness of various economies poses risks of cascading failures, notably as challenges emerge within local systems. While there’s concern regarding the US economy, the greater immediate worries arise from the developments with currencies in emerging markets.