Fully updated throughout, this new edition distills the complexities of globalization into an easy-to-grasp commentary. While globalization can be a force for equality it can also be seen as the embodiment of inequality – the rich world's rabid consumption of resources is often at the expense of poor countries, forced to cut costs and corners to compete. This best-selling No-Nonsense Guide examines the debt trap; the acceleration of neoliberalism and the 'free trade' model; competition for energy resources; the links between the 'war on terror', the arms trade and privatization; the emergence of China and India as economic superpowers. Full analysis of the financial crisis that started in 2007 outlines what happens when deregulation, speculation and greed are given full rein. And it explores strategies for redesigning the global economy so that it better serves the public good.