In recent decades, globalization has created more interconnected, interdependent and complex world than ever seen before. While the policy was aimed at promoting the integration, the impact of the growing interdependence have been largely ignored. Global integration has brought many benefits, but it also created the fragility of the production of new types of systemic risks. This article provides an understanding of the new 21st century systemic risks and the problems they create. 2008-09 financial crisis is used to illustrate the failure of even the most complex global institutions of governance dynamics of systemic risk, which has been strengthened by our growing interdependence. At the same time, technological changes have greatly expanded the powers of the person to destabilize powerful systems. Urgent reform of global governance structures and institutions is essential to improve the mitigation and management of these global risks. In addition, significant changes in the risk management and culture needed to ensure businesses were better prepared. This article offers the first steps. "Hide
by Ian Goldin Source: IESE-Insight Magazine 8 pages. Publication Date: March 15, 2012. Prod. #: IIR068-PDF-ENG
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