L1) Geographies of Global Change

Question 1

What is Economic Internationalization?

Answer 1

the extent to which national economies interact w/ one another through the exchange of goods & services
* Quantitative, measurable
* ‘Shallow’ form of integration, low degrees
* Extension of economic activities across borders

Question 2

What is Economic Globalization?

Answer 2

a set of on-going processes (=/=) static

increasing integration & interconnectedness of national economies around the world

• Quantitative/Qualitative changes facilitating a ‘deeper’ integration, high degrees
• Emergence of a new set of global actors (Ex: TNCs + global assembly lines)

Question 3

Differentiate: International Globalization vs Economic Globalization

Question 4

What are the three explanations for globalization?

Answer 4

1) Hyper-globalizers
2) Skeptics
3) Transformationalists

Question 5

1) Hyper-Globalizers

Answer 5

explanation for globalization

argue for new world order => decreased role of nation-state
* A “borderless economy”
* “Race to the Bottom”

Triumphalist accounts: Fukuyuma + Friedman
* _____

Question 6

2) Skeptics

Answer 6

explanation for globalization

Economic globalization has been overblown! => myth/mislabeling of economic interactions

Question 7

3) Transformationalists

Answer 7

explanation for globalization

globalization is ongoing & transformative
- uneven patterns of development
- national economic space =/= national territorial borders
- emphasis on local-global connections

Question 8

Is the notion of a global economy new?

Answer 8

No, a global economy is not new! Trade has been an ‘international integrator’ throughout history. Examples: (3)

Antiquity: Roman Empire; Silk Road (empires)
Middle ages: rise of Islam
Fall of Constantinople: rise of Europe

Question 9

Two key phases of international trade?

Answer 9

1) Early Commercial Expansion, 1500-1800:
- Europe shifts conception of world trade to center themselves (discovery/exploration)
- Mercantilism & protectionism (empires, gold)

2) Rise of Colonial Economy, 1800-WWII:
- Trade boom => bulk staples
- Drivers: free trade, migration, innovation
- Divergence of Europe w/ rest of the world (ahead of everyone)

Question 10

Factors that describe globalization’s open-ended ongoing process of change? (3)

Answer 10

Stretching (of economic activities)
Intensification (of interconnectedness)
Speeding up (of transactions) - velocity