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E&MoMNEs > 1. Hyper globalists vs Sceptical Internationalists > Flashcards

1. Hyper globalists vs Sceptical Internationalists Flashcards

1
Q

Give an empirical definition of Globalization!

A

= actual structural changes that are occurring in the way the global economy is organized and integrated

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2
Q

Give an ideological definition of Globalization!

A

= neo-liberal, free market ideology of the ‘globalization project’

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3
Q

What in the world is going on:
- Simultaneity and complexity
- Embeddedness of global production/consumption networks
- geopolitical tension
- environmental crisis

A

…

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4
Q

They argue that we live in a borderless world where the national is irrelevant

-> Globalisation is the new order
-> Everywhere is becoming the same
-> Standardization of goods/services

Who’s is arguing like this?

A

Hyper-Globalist

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5
Q

Hyper Globalist

What faction are there? (2)

A

Neo-liberal faction

Anti-globalization faction

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6
Q

What ideology is behind the neo-liberal faction?

A

the ideology of free and efficient markets regardless of national boundaries

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7
Q

What ideology is behind the anti-globalization faction?

A

The ideology that globalization of markets increases the scale and extent of inequalities

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8
Q

Who argues that there is nothing new about globalization?

A

Sceptical internationalists

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9
Q

The sceptical internationalists say that the world was more open and transnational in the past than in the present.

True/False?

A

True

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10
Q

Sceptical internationalists

‘we do not have a fully globalized economy’. Hirst and Thompson, 1992:394

A

…

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11
Q

International investment to developing countries increased of 20% in the last 10 years.

Empirical or Ideological?

A

Empirical

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12
Q

Demand and offer create the right market price.

Empirical or Ideological?

A

Ideological (coming from Adam Smith)

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13
Q

Any issues will be solved by the market.

Empirical or Ideological?

A

Ideological

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14
Q

Due to environment crisis, some firms are restructuring their operation by leaving countries geographically close to the equator.

Empirical or ideological?

A

Empirical

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15
Q

Simultaneity and complexity:

Simultaneity
MNEs are spreaded all around the globe which means that it has its food in many territories. In these territories are existing different dynamics.

Complexity: If something happens in one subsidery somewhere in the world most of the time the HQ who controls it needs to search for solutions.
–> for example a strike at a production facility could happen

CEO and Managers have to deal with these two issues.

A

…

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16
Q

Embeddedness of global production/consumption networks

global factory –> it means to reproduce the production close to your final market in order to reduce disruption…

A

…

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17
Q

Geographies of Globalization

Globalization: ‘qualitative transformation of economic relationships across geographical space’

Complex and changing geographies, rather than a single global geography

A

…

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18
Q

“globalization is a … supercomplex series of multicentric, multiscalar, multitemporal, multiform, and multicausal processes” (Jessop, 2002: 113-114)

supercomplex, because:
-> they are different levels of complexity
-> intra- und inter-organisational levels

multicentric because:
-> different centre of interest
-> cooperation, multinational, consumer

multiscalar because:
-> different level …

A

…

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19
Q

globalization is a … supercomplex series of what kind of processes?

A

multicentric, multiscalar, multitemporal, multiform, and multicausal processes”

(Jessop, 2002: 113-114)

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20
Q

Geographies of Globalization

To ascribe a single/origin for globalization is meaningless

(To ascribe a single/origin for globalization is meaningless)

True/False?

A

True

21
Q

Geographies of Globalization

What are the four tendencies (Neigungen)?

A

localizing processes

internationalizing processes

globalizing processes

regionalizing processes

22
Q

What are localizing processes?

A

= geographically concentrated economic activities with varying degrees of functional integration

23
Q

What are internationalizing processes?

A

= simple geographical spread of economic activities across national boundaries with low levels of functional integration

24
Q

= geographically concentrated economic activities with varying degrees of functional integration

Definition of what kind of processes?

A

localizing processes

25
Q

= simple geographical spread of economic activities across national boundaries with low levels of functional integration

Definition of what kind of processes?

A

Internationalizing processes

26
Q

= both extensive geographical spread and a high degree of functional integration

Definition of what kind of processes?

A

globalizing processes

27
Q

= the operation of ‘globalizing’ processes at a more geographically limited (but supra-national) scale, ranging from the highly integrated and expanding EU to much smaller regional economic agreements.

Definition of what kind of processes?

A

Regionalizing processes

28
Q

What are globalizing processes?

A

= both extensive geographical spread and a high degree of functional integration

29
Q

What are regionalizing processes?

A

= the operation of ‘globalizing’ processes but at a more geographically limited (but supra-national) scale

(-> ranging from the highly integrated and expanding EU to much smaller regional economic agreements)

30
Q

Global Trade 2015 - 2019

Change in volume of traded goods in major corridors from 2015 through 2019

(FOLIE 17!)

A

…

31
Q

https://www.bcg.com/publications/2023/protectionism-pandemic-war-and-future-of-trade

Interessanter Link zum Durchlesen!

A

…

32
Q

Future of Trade 2031 Outlook: Geopolitical Tensions Contribute to Reshaping Trade Flows

-> Folie 18!!

A

…

33
Q

Abbildung Folie 19 ansehen und beschriften !!!

A

…

34
Q

Global Division of Labour

Over 300 years, a global division of labour developed, with a core-periphery configuration

Manufacturing concentrated in the core, with exports and imports to/from periphery

Second World War: destruction of extant manufacturing capacity, and development of new technologies

Post-war division (Capitalist ‘West’ dominated by the USA; Communist ‘East’; ‘Thrid World’)

Post-Cold-War developments: the re-emergence of Asia as the world’s most dynamic economic region

A

…

35
Q

A simple geographical division of labour: core and periphery in the global economy

Core: Production of manufactured goods
<–>
Periphery: Source of raw materials and foodstuffs. Market for manufactured goods

(vereinfachte Einteilung)

–> Folie 22 ansehen!!

A

…

36
Q

Global interconnectedness

Name two important features (Merkmale) of the global economy since 1950: ??

A

increased volatility of economic growth

growing interconnectedness

37
Q

Global Interconnectedness

Name 3 current trends: ??

A

Variation between countries in trade integration terms

Major indicator of growing interconnectedness: the fact that the growth of trade has outpaced the growth of output

Most trade is intra-regional, within the three major regions (Europe, North America, Asia), and most exterior trade is between them

38
Q

FDI stands for?

A

Foreign Direct Investment (Inward & Outward)

39
Q

The importance of FDI to a country’s economy as a measure of what?

A

integration in the global market

40
Q

TNCs stands for?

MNEs stands for?

A

TNCs: Transnational Corporations

MNEs: Multinational Enterprises

41
Q

TNCs or MNEs
–> Intra-firm trade = trade within the same firm

A

…

42
Q

FDI and TNCs/MNEs

Changing patterns of trade and investment

A

…

43
Q

Trade in Goods and Services (BPM6)

–> Folie 25 ansehen!

A

…

44
Q

Exports in volume (% world total)

A

…

45
Q

China 2021 Exports and Imports

-> Folie 27

A

…

46
Q

Regional Comparisons

–> World becoming increasingly ??

A

multi-polar

47
Q

Leading import countries worldwide in 2022

Leading export countries worldwide in 2022

Folie 29 ansehen !

A

…

48
Q

Key Words of the lecture:
-> Globalization, hyper-globalists, sceptical internationalists, neo-liberalism, complexity; Geographies of globalization, FDI, volatility of economic growth, interconnectedness

Concepts to Review:
Global networks, nationalization, geographical complexity, global-local connections, Globalization, economic geography

A

…

E&MoMNEs (3 decks)

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