1 / 31

Globalization and World Trade

Globalization and World Trade. Alan V. Deardorff University of Michigan. For presentation at Institute of Retired Professionals June 27, 2018. Outline. What is (or was?) globalization? Causes and effects of globalization Trade imbalances Policy responses.

nemeth
Download Presentation

Globalization and World Trade

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Globalization and World Trade Alan V. Deardorff University of Michigan For presentation at Institute of Retired Professionals June 27, 2018

  2. Outline • What is (or was?) globalization? • Causes and effects of globalization • Trade imbalances • Policy responses

  3. What is (or was?) globalization? • Growth of international trade

  4. What is (or was?) globalization? • Growth of international trade

  5. What is (or was?) globalization? • Growth of international trade • Growth of international investment

  6. What is (or was?) globalization? • Growth of international trade • Growth of international investment • Growth of international financial transactions

  7. What is (or was?) globalization? • Growth of international trade • Growth of international investment • Growth of international financial transactions • Growth of international supply chains

  8. What is (or was?) globalization? • Growth of international trade • Growth of international investment • Growth of international financial transactions • Growth of international supply chains • Growth of international migration?

  9. Causes and Effects of globalization? • Reduced • Trade costs • Tariffs • Economic growth • Inequality? • Attitudes

  10. Lecture 8: US • US tariff history: 1810-1920 Today

  11. Lecture 8: US • US tariff history: 1865-1960 Average tariff Today Today

  12. Econ 340, Deardorff, Lecture 19: Development Trade Data from Gapminder.org

  13. Econ 340, Deardorff, Lecture 19: Development Trade Data from Gapminder.org

  14. Trade Imbalances

  15. Trade Imbalances

  16. Trade Imbalances Economist

  17. Trade Imbalances • What they mean • M-X > 0 • Buying more than producing • Spending more than earning • What they do not mean • Losing jobs • Being taken advantage of

  18. Policy Responses • Until recently • Efforts to encourage globalization • FTAs • Trans-Pacific Partnership

  19. Policy Responses • Until recently • Efforts to encourage globalization • FTAs • Trans-Pacific Partnership • Under Trump • Tariffs on solar panels, washing machines, steel, aluminum • Tariffs on China • Retaliation by others

More Related