Pr. 2 - Globalization
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Transcript of Pr. 2 - Globalization
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GLOBALIZATIONPushpakaran, K
MBA (SJP), PhD(Reading)
15th March, 2012
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Globalization in its current phase has
been described as an unprecedentedcompression of time and spacereflected in the tremendousintensification of social, political,
economic, and culturalinterconnections andinterdependencies on a global scale.
- Stegler
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Integration of Economies
The increasing reliance ofeconomies on each other
The opportunities to be able
to buy and sell in anycountry in the world
The opportunities for labourand capital to locateanywhere in the world
The growth of global marketsin finance
Stock Markets are now accessiblefrom anywhere in the world!
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Integration of Economies
Made possible by:
Technology
Communication networks
Internet access
Growth of economic cooperation trading
blocs (EU, NAFTA, etc.) Collapse of communism
Movement to free trade
Contd...
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Technological advances
Expansion of international commerce (exports
and imports)
Rising importance of private capital flows(stock markets and multinational corporations)
Increasing travel and migration (internationaltourism and domestic diversity)
Increased communication and interaction
between peoples (through all sorts of media)
Key Processes of Globalization
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Key Controversies of Globalization
The fact there are winners and losers, and societies vary inhow much they compensate the losers
Continuing poverty: worlds population below $1 a day;over below $2 a day: e. g., China, SE Asia, and India
Gap between rich and poor countries has widened.
Inequality between rich and poor is rising Environmental concerns and conflict over globalgovernance
Open borders and their effects (money laundering,
terrorism, disease, drugs, sex trafficking)
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Trade Vs Aid
Benefits of Trade: Increased choice
Greater potential forgrowth
Increaseinternationaleconomies of scale
Greater employmentopportunities
Trade has led to massive increases in wealthfor many countries.
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Trade Vs Aid
Disadvantagesof trade Increase in gap between
the rich and the poor
Dominance of globaltrade by the rich,northern hemispherecountries
Lack of opportunities forthe poor to be able to
have access to markets Exploitation of workers
and growersHow far does trade help children likethese?
Contd...
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Corporate Expansion
Multi-nationalor trans-nationalcorporations
(MNCs or TNCs)businesses witha headquartersin one country but
with businessoperations in anumber of others.
No matter where you go in the world, certainbusinesses will always have a presence.
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1. Whether globalization is aWestern curse?
2. Whether globalizationfairly benefits the poor?
3. Whether the institutional infrastructure
of globalization is adequate?- Amartya Sen
It is questionable
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Over the past decade globalization has
been driven by technological
advances..But globalization has also
been driven by policies and ideas- Bosworth & Gordon
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Food for Thought
Can globalization be a solution for alleconomic problems?
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Thank You