To preserve the benefits from globalization, global connectivity requires global coordination

Globalization has been a powerful force that has promoted sustained periods of peace and lifted many of the world’s poorest out of poverty. In their new book, The Butterfly Defect, Ian Goldin and Mike Mariathasan argue that it has also contributed to the building up of systemic risks, such as environmental hazards or a collapse of global IT architecture. To preserve the benefits of globalization, more global policy coordination to promote resilience, encourage transparent communication and prepare for contingencies, is necessary.