They can protect themselves against the risks inherent in financial globalization.

CNN: ASIANOW - TIME Asia

Indeed, until the globalization of the financial crisis, American manufacturing exports were reaching record levels.

FORBES: Magazine Article

In the age of technological globalization, business services, health, financial services and transport all rank high in the geographic aspect.

FORBES: Top 5 Industry Sectors In Workforce Diversity

As with Katrina, there is a back story for government's dysfunction: It's a long saga involving the fervent renunciation of the idea of financial regulation, bought-and-paid-for tax favors, confusion about how globalization affects money markets, a general ignorance about the modern financial world and a stunning lack of common sense.

NPR: Katrina's Unlearned Lessons Leave Financial Mess

In the aftermath of the Asian financial crisis, Coca Cola (NYSE:KO) switched from a globalization to a localization strategy that localized the wrong product characteristics like branding.

FORBES: Two Misplaced Debates In Business Strategy

Another finding is that in in the current recession failure and risk are characterized not by discussions of financial risk but by discussions of appropriate product and service development, and the risks inherent in globalization, as well as the drift in the global economy that sees Western enterprises losing market share as part of a global redivision of labor.

FORBES: What Can We Learn from a Culture of Failure?