Global Economic system doesn’t have asymmetry. How can it have with variant dependencies, variant indicators, variant economic structures, and economic and systematic irregularities? But there is a way to put a halt on these economic and systematic irregularities once and for all to achieve the idealism via symmetric economic indicators.
§ Various Approaches to Dependency.
Why the economies in the world are no aligned with asymmetry? Why don’t they have symmetric global economic indicators? Because their means of dependency are different form each other. Some are dependent upon crude oil like the Kingdom of Saudi Arabia. Some are dependent upon the weapon industry like the United States of America. Some of the dependent upon their businesses and production like China. That’s the reason, the economic indicators of each one of them are different. Their inflation is different. Their debt ratio is different. Their surplus ratio is different. When all these indicators are different, why would there be a symmetry amongst them? Why would they be aligned with each other’s economic interests? These various approaches to dependency are dividing the economic interests and global economic symmetry in the world. From Safety Glasses to the Safety Weapons, the dependency is variant for each nation.
§ Tilts of Globalization.
Globalization has certain tilts. These tilts are the advantageous factors that certain nations in the world are having. They are called economic tilts. The more a nation is possessing these economic tilts, the more it is strong against economic and systematic irregularities. Follow up of legit bodies and their policies can make economic tilts fall into favors.
§ Global Economic Policies & IMF.
To achieve the symmetry in the global economic indicators in the world, there is a legit body to formulate policies regarding the smoothening of global economic indicators. The set of rules and instructions issued by this legit body comprise of all the complexities in the global economic system. International Monetary Fund (IMF) is the legit body to maintain the global economic indicators to ensure global economic symmetry. There is a hurdle in this regard. The world doesn’t have a single global economic system. It doesn’t work that way. There are various global economies and all of them are functional on their local set of instructions and economic structure. They are following their own criterion rather than following the criterion given by the International Monetary Fund. That’s where the difference starts in the global economic system. Ups and Downs of this global economic system are based on this differential global economic system. If there is an asymmetric global economic system, all the economies in the world would be that much aligned with symmetry. The World would no longer be dealing with poverty, inflation, circular debts, and many other bad economic indicators.
§ FATF & World Bank Recommendations.
There are always some legit bodies to enforce the parallel policies on various international matters. These policies are aligned under a uniquely-orchestrated single and symmetric system. Those systems are formulated to be enforced by all the nations in the world. Though, the internal infrastructure of some nations isn’t that strong and effective to collaborate with the outer system. That’s where the failure starts. To put a halt on the failure, there is another system to keep an eye on the irregularities of systems of each nation explicitly. That’s more like Check & Balance body that traces the economic irregularities in the world. These irregularities are based on the weaknesses in the internal system of a nation. Financial Action Task Force (FATF) is one such legit organization formed to put checks on the systematic irregularities of every nation explicitly. It has more than 160 member nations. Some of them are very strong. Some of them are very poor in performance. It gives the set of instructions and guidelines to the nations to put a halt on their economic and systematic irregularities in the best way possible. Similarly, the World Bank is also a legit body to put a halt on the economic and systematic irregularities of various nations in the world. It provides them with economic and systematic assistance to contain the irregularities at best. From the 3M Safety Glasses industry to the national industrial structure, everything needs proper directives and systematic way to be adopted by every nation.