By Mike Dolan
LONDON, Jun | Wed Jun 29, 2011 9:44am EDT
(Reuters) – Thrown by a mounting series of extreme events over the past four years, global policymakers and investors are being urged to think long and prepare more systematically for the worst.
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Part of the problem today is that the latest wave of globalization was led solely by transnational corporations and their interwoven supply chains and by financial markets’ 24/7 worldwide blizzard of electronic transactions.
While this greatly facilitated the transmission of shocks worldwide, it was not matched by countervailing global governance and regulation to keep this activity in check or mitigate its most socially- or systemically-threatening aspects.
More information on the OECD’s Future Global Shocks project is available at: www.oecd.org/futures, including case studies on cyber attacks, pandemics, geomagnetic storms, social unrest and financial crises.