Economic and Financial Globalization began in the 1980s and got pace in the 1990s. However, after the US (Global) Financial Crisis in 2007-08, various risk-related questions started emerging. The war in Ukraine and the Weaponization of Finance seem to have posed the biggest challenge to the present global financial system. In this background, you are supposed to cover the following issues in your assignment.

1. What are the factors that led to financial globalization in the 1980s and 1990s?
2. How is the state of the global financial system at the moment?
3. In your view, what are the challenges (risks) of the integrated global financial system to various counties?