Transcript Globalization - University of Mississippi

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
• Trade along the Silk Road between
Europe and East Asia for nearly two
thousand years
World Merchandise Trade % GDP
Trade Dependence (2009-2012)
Foreign Direct Investment
Globalization and the US: trade
Globalization and the US: trade
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
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.”
Debates on globalization
• The impact of globalization on
– income inequality
– unemployment
– education
– health care
– women and children
– the environment
– homeland security, etc.