Who rules the global economy?

Money rules the world.

"Globalization began in ancient times, when people and communities first started exchanging goods and sharing knowledge and cultural practices. During the Hellenistic Age (323 to 100 b.c.e.), the Greeks established broad trade and commercial connections."


"Although governments do hold power over countries' economies, it is the big banks and large corporations that control and essentially fund these governments. This means that the global economy is dominated by large financial institutions."

(Edology)

"Currently, the largest slices of the pie are held by the United States, China, Japan, Germany, and India, which together account for more than half of global GDP. Just five countries make up more than half of the world's entire GDP in 2022: the U.S., China, Japan, India, and Germany.

Rank Country GDP (Billions, USD)
#1 ;; United States $25,035.2
#2 ;; China         $18,321.2
#3 ;; Japan          $4,300.6
#4 ;; Germany          $4,031.1
#5 ;; India          $3,468.6
#6 ;; United Kingdom $3,198.5
#7 ;; France          $2,778.1
#8 ;; Canada          $2,200.4
#9 ;; Russia          $2,133.1
#10 ;; Italy          $1,997.0
Total World GDP        $101,559.3
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"In the United States, most businesses are owned by individuals or private investors, but the government plays a role in regulating the businesses in order to maintain a balance between efficient production practices and maintaining pro-social interests such as minimum wages, workplace safety, and environmental ..."

"In the process of implementing globalization in developing countries, the selection of winners and losers is often predetermined. Multinational corporations often benefit from globalization, while poor indigenous locals are negatively affected and often exploited. The power of transnational companies inflicts a major threat for indigenous tribes and other small colonies residing in larger nations opting towards globalization. Transnational companies exploit the local land and resources of the families belonging to these tribes for their businesses.An example of this occurring is large palm oil companies receiving land to develop from the government that is occupied by the indigenous tribes.This has led to massive deforestation and a silent human rights crisis. Globalization can be seen as a new form of colonization or imperialism, as economic inequality and the rise in unemployment have followed with its implementation. Globalization has been criticized for benefiting those who are already large and in power at the cost of endangering the countries' indigenous population. Furthermore, globalization is non-democratic, as it is enforced through top-down methods. In the name of free markets and with the promise of an improved standard of living, local authorities give up some of their political and social powers to international organizations.Thus, globalization causes the greater empowerment of these international organizations and the diminishing influence of local state institutions."


"Globalization is generally recognized as the fading or disappearance of economic, social, and cultural borders between nation-states. Some scholars have theorized that nation-states, which are inherently divided by physical and economic boundaries, will be less relevant in a globalized world.
  Multinational corporations, in particular, challenge nation-states to confront the unique issue of foreign direct investments, forcing nation-states to determine how much international influence they allow in their economies.
  Nation-states also must reckon with changing labor dynamics as multinational companies outsource labor to other regions.
  Changing economic realities caused by globalization affect a nation-state's economic sovereignty, with imbalances furthered by poverty and indebtedness."

(What Is the Role of the Nation-State in Globalization?, By MARY HALL Updated August 16, 2023)

  "The U.S. central banking system—the Federal Reserve, or the Fed—is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets."
  "The Federal Reserve is neither truly federal, nor a full reserve. It is not owned or directly controlled by the United States government. The fact that the words 'United States Federal Reserve System' are printed on every U.S. bank note thus raises serious questions."
"The Board of Governors, located in Washington, D.C., is the governing body of the Federal Reserve System. It is run by seven members, or "governors," who are nominated by the President of the United States and confirmed in their positions by the U.S. Senate."
"Though the Board of Governors of the Federal Reserve is categorized as an independent government agency, "The Fed" is not owned by the government. The Supreme Court stated that "instrumentalities like the national banks or the federal reserve banks, in which there are private interests, are not departments of the government. They are private corporations in which the government has an interest. Though Federal Reserve Board members are appointed by the U.S. President and confirmed by the Senate, the Federal Reserve is a privately owned institution controlled mainly by large private banks. A study of the history and functions of the Federal Reserve reveals that powerful bankers such as J.P. Morgan have had inordinate power and control over the formation and management of the monetary policy of the United States through their power over the Fed. Congress has virtually no influence over this incredibly powerful institution.
  Neither does the Fed have reserves to back all of the credit it issues. None of the money in circulation is backed by anything of real value such as gold or silver. The backing of U.S. currency by a gold standard was removed under President Nixon in 1971. In fact, the Fed, like all banks, at any one time has only 3 to 10% of all credit issued held in reserve as bank notes. So the Federal Reserve is neither truly federal, nor a full reserve. It is not owned or directly controlled by the United States government."