Economic integration as a hallmark of globalization
• FDI increase
• Increase of international currency transactions
• Growth of marginal courtiers
Global blessing or contagious disease?
• Asian crisis
Capitalism not yet fully globalized?
• Core of the economy –30 countries: Asian Pacific, Western Europe, North America
• Geopolitical changes: Soviet Union demise
• Unequal development of technology
Global labor, multinational companies and human right
• Humanitarian concerns in Asia
• Authoritarian governments’ pacifying policy
“ Globaphobia ”
• US and Western European wages and jobs
WAWASAN 2020 by William Greider
• Corporations’ thirst to reduce costs
• Political transactions of poor countries against the principles of free market
• Special favors in commerce: state subsidies, exemption form taxation, government suppression of workers, no import duties.
• Primitive cultures and modernity
• Multinational corporations and the problem of insecurity
• Global jobs auction
THE JOYS OF GLOBAL INVESTMENT by T.C. Fishman
• The movement of American money into stocks across borders( increase by 600% to $1.5 trillion in 1994)
• Investing in international stocks directly, through mutual funds or pension accounts.
• Two new products: global funds, and international funds
• The assets of those funds (growth from $ 5.2 billion to $ 264 billion in 1996)
• Stocks and international investors in former Eastern bloc, Asia, Africa
• Collective greed and collective fear
• US and Western European economic growth vs. the rest of the world
• China 2020
• Labor and environmental problems of the corporations
DOES GLOBALIZATION LOWER WAGES AND EXPORT JOBS? By M. Slaughter and P. Swagel
• Global integration: expansion of product market integration not continuous, movement toward trade liberalization
• Labor market developments: shift in demand from the less skilled toward the more skilled, income inequality
• Decentralized labor markets( US and UK) and lower relative wages
• Centralized labor markets( France, Germany, Italy) and lower employment
• Effect of import prices on wages: import competitionlowering the price of the product and change in profit opportunitiesshifting resources towards industries in which profitability has risen
• Effect of import volumes on wages
• Modest effect of international trade on wages and income inequality: more advanced economies not more open to trade, tariff replaced by non-tariff barriers, upgrading product mix
GLOBAPHOBIA: CONFRONTING FEARS ABOUT OPEN TRADE by G. Burtless, R. Lawrence, R. Litan, R. Saphiro
• Global trade, employment, and current account deficit
• Trade and manufacturing jobs
• Services more important
• Productivity and demand
• Globaphobia in the political marketplace
You May Also Find These Documents Helpful
-
21. The theory of absolute advantage suggests that under free, unregulated trade, each nation should…
- 4814 Words
- 20 Pages
Satisfactory Essays -
Ford Motor Company multinational cooperation that uses outsourcing to lower costs and boost productivity. Until the 1980’s Ford had a supply chain that allowed them to control every aspect of the making and distributing of their automobiles. From the steel and rubber plants that make the parts, to building the vehicles, storage and shipping. Though this was a good way for the companies to promote local made in America vehicles it was not however time or cost effective. As a result of competition from other automotive companies Ford made the drastic changes of outsourcing the making of parts and manufacturing to other countries to speed productivity and lower costs.…
- 572 Words
- 2 Pages
Satisfactory Essays -
A global shift has made considerable advantages and disadvantages on society today. With the increase of American businesses moving beyond national markets to other markets around the globe in order to increase their financial bottom line there has been a rapid decline in national jobs. A particular advantage of globalization is the opportunity of free trade and the result on the global economy. However, the disadvantage is the destruction of local jobs, markets and forced movement of people. In order for globalization to continue in America, there must be a system to maintain the economy without causing the government and people to suffer. Recently, employees of Bosch Corporation experienced the effects of globalization when the company outsourced labor and resources to India.…
- 515 Words
- 3 Pages
Good Essays -
TNCs, transnational corporations are large companies that have operations in more then one country. An example of a TNC is Coca Cola. There are many pros to TNCs such as they build infrastructure, bring new technology to the country and provide jobs for local people. But there are also many cons like land degrading, they exploit workers, and they avoid taxes.…
- 357 Words
- 2 Pages
Satisfactory Essays -
Nonetheless, the formulations of the Annales school and of World Systems Analysis, while global in…
- 10324 Words
- 42 Pages
Better Essays -
Globalization: Homework 5 November 20, 2015 Sydnee Lyman Sweatshop Debate Sweatshops are a very controversial discussion everywhere around the world. Whether the sweatshop is domestic or international, it is a major issue as to if it is an ethical way for production or not. By definition, the word sweatshop means, “a shop employing workers at low wages, for long hours, and under poor conditions” (Dictionary). The definition is portraying the term sweatshop as bad and inhumane.…
- 649 Words
- 3 Pages
Good Essays -
"Its been said that arguing against globalization (and many of the issues related to globalization) is like arguing against the laws of gravity." This statement comes from Kofi Annan, who won the Nobel Peace Prize in 2001 and also became the seventh secretary general of the United States (The Nobel Foundation, 2001). The quote introduces, in its broadest sense, the issue discussed in this paper. While the general idea of globalization is not our primary focus in this report, one of the most controversial subjects to arise out of the globalization phenomenon, offshore outsourcing, is of particular interest to us. Offshore outsourcing (hereafter used interchangeable with offshoring) has been around for some time now. The pressure to transfer business processes over-seas first came from Japan in the 1960's, then from Mexico in the 1990's, and today the pressures are coming from China and India for goods and services, respectively. Offshore outsourcing is the same as any other form of international trade; in fact, it is an extension of international trade. Thus, economic theories such as comparative advantage and absolute advantage apply to the basic idea of offshore outsourcing.…
- 6326 Words
- 26 Pages
Powerful Essays -
1. Globalization has led to greater disparity in wealth within many countries. Back to southeast Asia, the people of those countries did experience a tremendous amount of growth over the past couple of decades, but it wasn't experienced equally by all of their people. The poor have seen a moderate rise in incomes while the wealthy have seen incredible rises in their incomes.…
- 1440 Words
- 6 Pages
Better Essays -
4. Despite global media attention, protests, and boycotts, many governments around the world continue to commit and tolerate human rights abuses. How could the U.S. government help address this problem?…
- 327 Words
- 2 Pages
Satisfactory Essays -
U.S. presidents have often cited the widening gap between the rich and the poor as being the number one obstacle to world peace. So it is interesting to find that this gap is the greatest within the United States of America. Globalization has only widened this gap further in the U.S. and in countries where the U.S. has spread its capitalism through the exporting of U.S. businesses. Why then do U.S. presidents preach about the negative correlations between widening class gaps and civil disturbances when they themselves propagate and enable those who widen this gap further through U.S. policies? The United States exports capitalism in its raw form while practicing a mixed economy at home. Why? Could it be because the U.S. citizen will not…
- 1277 Words
- 6 Pages
Good Essays -
It is a difficult task to provide a clear-cut judgment on whether economic globalization is beneficial to overall the world economy. We see more states joining the World Trade Organization (WTO). We also see protests where people roaring “down down WTO”. The reason why we see this phenomenon is that economic globalization is a two-edged sword. While providing new opportunities, economic globalization also means risking its own domestic economy. It is important to carefully examine both the benefits and harms of this two-edged sword.…
- 663 Words
- 3 Pages
Good Essays -
Between 1492 and 1750 the world became globalized for the first time. Globalization is the increasing interconnectedness of the world. Many continents benefited from this, such as Europe, and many continents suffered from this, such as Africa. Globalization has paved the way for the world that we live in today.…
- 568 Words
- 3 Pages
Good Essays -
I would recommend Skyblue to evade and try to single out itself from this deal, because honestly this whole situation is illegal first of all ,and secondly any kind of interference of this internationally transaction should have an entire system of research to make sure if paying the 100,000 is even legal to pay, and they should do their due diligence of all kinds of financial researches to weigh…
- 377 Words
- 2 Pages
Satisfactory Essays -
Many schools of thought and individual researchers have reached the conclusion that state-centric approaches fail to examine and analyze international elations as they have changed in the past century. The different leakages of the state-centric theories like the fact that states nowadays are multinational and are not constituted by only one nation (Baylis et al, 2008) in combination with the existence of other entities in the international arena apart from states has created the need of a theory that acknowledges those facts and tries to explain international relations in the new and more complex developing environment.…
- 2305 Words
- 10 Pages
Best Essays -
There are many advantages of Nike being a multinational company such as multinational products and services provide the best possible standards. Because in a foreign country, Since customers are willing to spend their money on the best products, the multinational companies need to keep the strong competitors at bay so they must to produce really high standard goods. Secondly, multinational corporations play a big role in creating employment in the foreign countries. Because of their many shops , they employ local people in those countries to work for the factories Even when using methods such as sweat shops and childlabour its still especially important in developing countries where unemployment is high. Thirdly, the growth of multinational companies in those countries will increase level of industrial and economic development in the long run helping both Nike and the countrie they are situated in.…
- 846 Words
- 4 Pages
Satisfactory Essays