But at the same time, we must recognize that the world financial system is the circulatory system for the world economy.
It is the measuring stick of the world financial system and the global economy.
Nothing is better documented in the world economy than the principle that the economic system of a nation is the primary determinant of its success.
This time around, however, Mr. Obama is not simply trying to socialize the economy, destroy the world's finest health care system or assault the Constitution.
Its economy is too entwined with the world's trading system, and international financial markets, for it to eschew any interest in, or influence on, the rest of the world.
An economy built to last depends on a world-class infrastructure system that allows us to transport our people and goods as quickly and effectively as possible.
In its 2011 Annual Global Risks Report, the WEF warned the world's economy could not withstand any further shocks to the system and identified 37 main threats to its future stability, from crippling government debt and cyber security, to unsustainable pressure on resources and food security.
And yet, they have so mismanaged their affairs - with such devastating potential consequences for the global economy and its financial system - that the rest of the world believes it has no choice but to come to its rescue.
After years of lacklustre performance, the world's second biggest economy is now mired recession, burdened with huge debts and a banking system that some analysts views as technically insolvent from propping up loss-making firms.
This is no way to run the best and the safest aviation system in the world, and it's no way to get America's economy moving again.
America needs a modern immigration system that allows talent from around the world to contribute to the U.S. economy, enhancing U.S. competitiveness and spurring economic growth.
Second Life -- a 3-D environment that looks kind of like a video game -- has a real economy based on "Linden Dollars, " which can be exchanged for major world currencies on a market system.
If, for example, the costs of inefficiency come to exceed the political and social benefits, or if the world forces Japan to bear the full costs of its still-mercantilist system, and especially if the economy enters a prolonged slump, Tokyo would be hard pressed to rethink the nation's path.
Despite the success of the euro, which has been worth more than the dollar ever since the U.S. economy busted in 2001, there's no real plan afoot to put the world on a one-currency system.
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