Consider the following globalisation scenario: Country A has a rapidly growing economy. Many companies are booming. Foreign investment is pouring in. Property prices are soaring. Businesses are borrowing ever larger sums with little or no security except their expectation of future large profits.

Every month these companies have to borrow more to buy more stock to make more goods for ever larger orders, which are paid for in the future (they hope there will be no bad debts). They are also exposed through large assets held in property. There is little inertia in the economy. Currency reserves are last minute all inclusive tiny compared to hourly currency flows by global institutions.
Then comes one piece of unsettling news and currency selling begins. Traders may be confident that the currency is now undervalued, but will go on selling as long as they believe other traders think the currency is still overvalued. In other words, buying and selling becomes driven not by objective data, but by what they think others will do. So this kind of globalisation can be a recipe for over-shooting, seen over and over again in currency, commodity and stock markets - a feature of globalisation.
Everyone sells when the price is already rock-bottom