World Economic Crisis – Globalization – Global Employment Crisis – Challenges for the Reform of Labour and Employment Policies in Japan and in Germany

Abstract

In order to understand the roots of the current world economic crisis it is necessary to study carefully the most recent phase of globalization (1980-2005). It is obvious that not only unregulated global financial markets have caused the crisis, but that global imbalances, global inequalities and global shifts have worked through the system. The most severe lack of global governance, despite of ever stronger globalization forces, is responsible for the negative outcome. Japan and Germany are advised - in their own interest as export-oriented nations - to push for a new global governance structure.