The world is terribly small, and multinational corporations and technology only tighten the web of interconnected people and markets.
That certainly held true Wednesday when a computer glitch was blamed for grounding all United Airlines U.S. departures for two hours. The Federal Aviation Administration said “automation issues” caused the temporary suspension of takeoffs.
For passengers, planes that are grounded for even a few minutes will cause folks to miss connecting flights in other cities. People at airports just had to grin and bear the inconvenience.
In an unrelated high-tech mess, the New York Stock Exchange Group temporarily suspended trading Wednesday in all securities after reports of technical difficulties. The Dow Jones industrial average was down at the time blamed partly on Greece debt crisis and the ongoing tumble of markets in China and elsewhere in Asia.
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Experts have been saying that U.S. markets and consumers should be able to weather the overseas financial storms. But the interconnectedness of people, multinational businesses and trade creates a sense of doubt.
It’s hard to shake off the effect that more than a billion people in the second largest economy in the world might have on global markets if they suddenly stop spending money and consuming out of financial and job worries — particularly with they love to buy U.S. automobiles and other goods and services from America. All of the Western fast-food restaurants that people in the United States enjoy also are in China, Hong Kong and Japan.
Many big box stores that are in the states are overseas, too. It’s where the emerging markets and middle class are.