homework:Steve's lecture

Globalization has impacted the economic,trade,finance in today's world.
Take some one's buying a house for example.If somebody wants to buy a house in London, he may borrow money from a bank.The bank maybe lend him 50% of the whole money to buy the house.In the global finance,this bank may sell this debt to other banks which may be in China,USA or other countries,and the second bank will sell the debt to another bank in another country.When the financial crisis comes like today we face,this man will can't afford to pay back the money to the bank.In this case,the bank maybe can't pay to another bank in other country.It will affect all other countries that are related.It will lead to bankruptcy.All the banks in different countries will be in a financial mess.In this situation,the government have to come out to help the bank.In this case,the government will lead to bankruptcy,like Iceland.
In Steve's opinion,he complains the globalization.In globalization,everything is free,there is no rule,no regulation.but somebody have to pay for this freedom.Multinational corporations are free in trade.They benefit a lot from globalization,but the worker who work in them have to pay for it.They work hard for a long time but only earn little money.They still in poverty.
what we need to do is to create new philosophy to make globalization more efficiency.