I.-The year 2017, will probably be registered as the year which signal the beginning of the transition to a different world order. There has been an intense discussion about what lies ahead in this post globalization era. Some key developments about this issue havwe been:
a.- The review about the foundations of globalization went beyond economics, as long as a global society also mean a lack of identity, or a weaker link with those values which make us all to feel either that we belong to something, or that we have those unique cultural values which every one may count on as their back up when it comes to move forward into the avenues of this century.-
b.-International organizations were under keen scrutiny, and its effectiveness was questioned, as they have been unable to cope with key threats currently unsolved, such as massive inmigration, unfair trade, cyberspace weakness,climate change challenges, effectiveness of control about the nuclear proliferation risk programs .-
c.- There are additional sources of global leaderships. This mean a multydimensional approach to every global issue, which allow more diversity,better human capital endowment but at the same time, it requires more flexibility to go along with global goals such as peace, better globalization, and protection of what it is left out of environment , based upon different perspectives each one as legitimate on its own, as the anothers ones.-
d.- The real meaning of incoming Globalization 4.0 , is still confuse, but some guidelines are become increasingly clear: The Global economy requires countries with its laws, institutional framework and effective Government policies at home as a preliminary condition to go global.So, globalization it is not only about global markets, it is also about effective laws, institutions and policies proved to be effective, before exporting them to a global scale.
e.- Consumers are the drivers of the incoming globalization, but the supply side response make the whole difference to adapt productive process to new demands.Virtual organizations such as "Amazon", "Google", or good producers such as "Zara", "Mercedes Benz", or services providers such as "Walmart" , "Facebooks", "Twiter" to mention a few ;are moving ahead to reshape markets to provide faster responses to consumers preferences, in such a way that producers and consumers mix together in a new business unit called"prosumer".
f.- Global markets became better coordinated to sustain join economic growth advances. Key economics are within the area of monetary normalization process.
II.- Other relevants issues in 2017 were:
a.-The consequences of climate change are well ahead of any agreement already in place. This mean that the next one, is better than anyone already signed. So, the issue is not how to cope with controlling climate change,(reducing global temperatures), but how to deal with its consequences even as catasthrophic these seem appears to be. It follows that Climate change has become out of range of Governmenet actions .
b.- The faster the change in productive process already in motion ,the better. New tecnologies, have made additional progress to boost the speed of such transformation which make private firms the key drivers of mitigating climate change consequences.
c.- Europe as a whole (Germany, United Kingdom,Spain,Poland, Hungary, Italy and Austria), face the stress of its European Union project becoming under further scrutiny, following the current fragile situation of its main leaderships.-
III,. Latin America
a.- The economic growth came back as long as the global economy recovery became stronger. After an economic contraction last year, 2017 look with positive numbers in terms of economics growth (1,5% on average).-
b.- The time of reforms is not over in key economies in this region. New conditions on global markets, and the past experience about the cost of not keeping the pace with its development, has made clear that the path to improve economic development, goes hand by hand with more flexible markets and better institutions.-
