Economic Nationalism

Topics: International trade, Free trade, Mercantilism Pages: 11 (4661 words) Published: November 9, 2012
RMIT International University Vietnam
Bachelor of Commerce Program


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Subject Code:| BUSM3311|
Subject Name: | International Management|
Location where you study:| Hanoi Campus|
Title of Assignment:| Literature Review|
File(s) Submitted | BUSM3311_G3_Literature Review_s3255166.docx| Student name:| Pham Ngo Tuan Anh|
Student Number:| S3255166|
Student Email Address:||
Learning Facilitator in charge:| Mark Peterson|
Assignment due date:| 12th September 2011|
Date of Submission: | 12th September 2011|
Late Submission Approval| None|
Number of pages including this one: (Please number your pages like this: page 1 of 7, page 2 of 7, etc)| 16| Word Count:(Main Content)| 3281|

Table of Contents
I, Introduction4
II, Economic nationalism – the topical issue5
II.1, Definition5
II.2, Ambiguity in similar yet distinctive concepts6
III, Is economic nationalism really protecting the national economies?7
III.1, Economic drive7
III.2, National security8
III.3, The naked truth9
IV, Nationalism – implication for multi-national corporations10
IV.1, Challenges10
IV.2, The bright side10
IV.3, Solutions to the nationalism11
V, Conclusion12
VI, References13

I, Introduction
5,000 years ago, the trade between Sumer and Indus Valley Civilization, which are Iraq and Pakistan today, was recorded as the first cross-country financial agreement (Frank 1998). Since that event, civilization has witnessed the amazing growth of “globalization”, with the establishment of many multinational trade agreements like the latest WTO. Thanks to that attempt, we are now living in a flatter world, enjoying products and services from global suppliers. Amazingly, accompany with the rapid expansion of globalization is the rising trend of nationalism, a resistance to a globalized level ground. At the moment, nationalism has been witnessed in all parts of the world, from the emerging economies of China to America, the world leader and champion of free trade. No matter which phase the local economies are in, to a certain extent, prove to be successful as the protection from the globalization. It can be said that, when the world is building bridges, nations are isolating themselves with fences and filters. Nationalism, ever since the strike of the economic crisis, has received the awareness all the world. The threat of nationalism to globalization has been approved by the scholars, but there exists gaps in their attitudes towards that rising trend. In a humble attempt, by researching, summarizing and contrasting different viewpoints from the research papers, this literature review aims to bring about a panorama of the inevitability of nationalism and its influence on the developing countries. From the commons and differences found, the challenges for multi-national companies have to encounter during the global expansion will be pointed out, in which proper suggestions could be made for a better adjustment to the phenomenon of nationalistic sentiments.

II, Economic nationalism – the topical issue
II.1, Definition
Under different scopes, there is a wide spectrum of definition of “nationalism”. Generally, nationalism is an ideology linked with the term “national identity”, in which the exponents in belief of superiority over other nations are stimulated by a sense of national identification (Fowler 2002, Druckman 1994, Kosterman & Feshbach 1989). In economics, nationalism lingers beyond pure political ideology into the set of actions, as it is considered as an act of state-building and economic independence (Gilpin 1987, cited in Akhter 2007) which is also supported by Mayall (1990, pg. 42), who considered it as “policies which are adopted to defend nation and further its interests”. In...
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