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Globalization

Globalization. Cross-national interaction between individuals, corporations, and governments (actors of globalization) integration of global markets for: commodities labor services capital, etc. Globalization in history.

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Globalization

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  1. Globalization • Cross-national interaction between individuals, corporations, and governments (actors of globalization) • integration of global markets for: • commodities • labor • services • capital, etc.

  2. Globalization in history • Trade along the Silk Road between Europe and East Asia for nearly two thousand years

  3. World Merchandise Trade % GDP

  4. Trade Dependence (2009-2012)

  5. Foreign Direct Investment

  6. Globalization and the US: trade

  7. Globalization and the US: trade

  8. Globalization and the US: FDI • US-owned assets abroad • 0.5 trillion dollars in 1976 • 6.2 trillion dollars in 2000 • 21.6 trillion dollars in 2012 • Foreign-owned assets in the US • 0.3 trillion dollars in 1976 • 7.6 trillion dollars in 2000 • 25.5 trillion dollars in 2012

  9. Debates on globalization • Normative theory • What ought to be • e.g.: “Globalization is ultimately good for poor developing countries.” • Positive theory • What is • e.g.: “Globalization increases economic inequality between rich and poor countries.”

  10. Debates on globalization • The impact of globalization on • income inequality • unemployment • education • health care • women and children • the environment • homeland security, etc.

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