Global Economy Essay

Global Economy Essay-28
It is our belief that values-based leadership provides the key to converting these current challenges into future opportunities.The global economy will confront serious challenges in the months and years ahead, and looming in the background is a mountain of debt that makes markets nervous—and that thus increases the system's vulnerability to destabilizing shocks.Though we may not have all the solutions, an emphasis on values-based leadership can create new opportunities for success.

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Yet, so far, markets and economies have shrugged off political disorder, and the risk of a substantial short-term setback seems relatively small.

The one exception is the United Kingdom, which now faces a messy and divisive Brexit process.

Leaders are now pressed to do more with less, balance national interest with their responsibilities as members of the global community, and achieve short-term results while making long-term investments.

The solution to these tensions lies in three fundamental core leadership values: courage, open-mindedness and integrity.

The failure at the World Trade Organization’s Doha Round, wherein leaders from the developed and developing world attempt to lower trade barriers and increase economic efficiency, acutely demonstrates this need.

Leaders must be willing to understand the importance of reciprocity and approach all situations with empathy. Leaders must consider other islands as they interact with one another.No single global centralized authority exists but several interact.Given this, integrity in leadership is essential in developing a system of accountability, collaboration, and communication that emboldens shared sacrifice.The onus lies on leaders to drive this new paradigm, valuing integrity at the core.Just as we need to reemphasize these core leadership values, we also need a reevaluation of who our leaders are.While some seniors may not have understood the importance of such measures, Greece’s economic status in European markets necessitated this move by leaders.Greek officials had little choice in the matter and faced a grim future if they failed to comply.Elsewhere in Europe, Germany’s severely weakened chancellor, Angela Merkel, is struggling to forge a coalition government.None of this is good for the UK or the rest of Europe, which desperately needs France and Germany to work together to reform the European Union.The recent financial crisis, marked by an absence of integrity across the board, highlights the need for leaders to stand up for the global good and measure success not solely by the individual gain, but additionally by the sustainability and ethics of their decisions.Acting with integrity over each facet of the political and economic spectrum builds trust and increases overall efficiency.

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