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Economic Globalisation > Lecture 1 - Introduction > Flashcards

Lecture 1 - Introduction Flashcards

1
Q

Who is the largest global employer

A

US department of defence

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2
Q

USA + FDI stocks

A

USA - Biggest ‘sink’ of FDI stocks globally, UK 2nd.

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3
Q

How much FDI did the USA receive in 2016

A

$385 billion

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4
Q

When did the USA receive $385 billion in FDI

A

2016

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5
Q

Where did most FDI come from in 2015

A

The Netherlands

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6
Q

UK - where are they ranked on giving FDI

A

Not even in the top 20 globally

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7
Q

What percentage of top world’s 100 economic entities are corporations (including nation states)

A

69%

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8
Q

What is 69% a percentage of

A

What percentage of top world’s 100 economic entities are corporations (including nation states)

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9
Q

Which is the only country that had a bigger revenue than Walmart in 2015

A

Canada

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10
Q

Which country spends the highest proportion of its GDP on the military/defence

A

Saudia Arabia - 10%

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11
Q

How many EU born nationals were working in the UK in the Q1 of 2017?

A

2.4 million

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12
Q

When did globalisation peak

A

1970s and 80s

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13
Q

Nowadays what is globalisation moving towards

A

Free market capitalism

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14
Q

What ideas are linked to globalisation

A

Certain political ideologies today e.g free market, neoliberalism

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15
Q

In the mid-19th century what were political ideologies (such as free market + neoliberalism) linked to

A

Communism and proletarian rule

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16
Q

20th century globalisation focus

A
  • How to make communism into a global entity

- A capitalist approach

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17
Q

Where does contemporary globalisation have its routes

A

In late 1970s and 80s

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18
Q

What is contemporary globalisation link to

A

The political-economic doctrine of NEOLIBERALISM. Local and national impact.

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19
Q

Who were key figures in the promotion of contemporary globalisation

A

Margaret Thatcher & Ronald Reagan – Saying and developing their policies around globalisation, neoliberalism etc. Trade Unions were seen as having too much power.

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20
Q

When was neoliberalism

A

Succeeded end of 1980s with fall of Berlin Wall, collapse of USSR.

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21
Q

What did the collapse of communism allow

A

Necessity of free markets, creating truly global economic competition

22
Q

How did Freidman make his name

A

By interpreting practically any event anywhere in the world through this simple, inevitable, discourse of integration. Simplistic positive spin.

23
Q

Cynical view of globalisation - Dicken, 2004

A
  • Uneven geographical and social outcomes

- A very broad term

24
Q

How has a cynical view of globalisation

A

Dicken, 2004

25
Q

What has globalisation become dominant in the study of

A

The beginning of the millennial

26
Q

Globalisation as integration

A

Economic, political and social integration that have collectively created ties that make a difference to lives around the world

27
Q

Globalisation as integration - what has played a major role

A

Technological change has played a major role. Empire building and colonialism, building of Empires. Navigation, transport – speeded up flow of goods etc.

28
Q

What did political leaders use the term ‘globalisation’ for

A

To sell particular packages of policies

29
Q

What policies is the term ‘globalisation’ used to sell

A
  • Free trade
  • Privatising services
  • Lower taxes
30
Q

Aim of privatising public services

A

Use business efficiency

31
Q

Aim of enforcing property rights

A

Patent protection

32
Q

Why reduce inflation

A

Price stability and savings protection

33
Q

Why de-unionise

A

Respect rights to work and labour flexibility

34
Q

What is export led development

A

Trade not aid

35
Q

What 3 myths is a dominant discourse focused on

A
  • New
  • Inevitable
  • A leveller
36
Q

The view that globalisation is new

A
  • The fascination and power of something new

* Capitalism’s need to conquer new markets and promote new linkages is far from new

37
Q

The view that globalisation is inevitable

A
  • Dangers - becomes taken for granted – “oh it is just globalisation”.
  • Removes the power of alternatives/ think less of alternatives. Role of the local? Thinking in a more particularistic fashion about the economy.
38
Q

The view that globalisation is a leveller

A
  • Global economic space is flat – people can move around the world at their whim, there aren’t any barriers to this
  • It is profoundly uneven in all sorts of ways. Hasn’t solved any of economic/social inequalities out there.
39
Q

Ohmae 1990

A
  • Globalisation as an ‘end state’ (Ohmae 1990)
  • Some to aspire to or to avoid
  • Problems with this…
40
Q

Who states that globalisation is an end state

A

Ohmae 1990

41
Q

Giddens 1990

A

-Globalisation as ongoing process (Giddens 1990)
-No a priori reason to assume that things will pan out a certain way
Contingent and open-ended
-Not going to solve all of our ills/wos, should be studied and open ended. May be more alternatives out there.

42
Q

Who states that globalisation is an ongoing process

A

Giddens 1990

43
Q

A single or primary imperative cause of globalisation

A
  • Capitalism
  • Technological change (internet?)
  • Monocausal accounts
44
Q

Multiple and interlocking causes of globalisation

A
  • Technological change
  • Cultural transformation
  • Political changes
  • Neo-liberalism – deep ideological shifts
45
Q

How can we see globalisation in the past (not all modern)

A

Trade networks in medieval times certainly had global aspects

46
Q

Different trajectories (paths) of globalisation

A

1) A ‘secular’ process of global integration. World will continue to integrate more and more.
2) Historical rootedness – the path dependent approach. Future will always be governed by history.
3) Both fragments and integrates; it ‘pushes’ and ‘pulls’.

47
Q

How is globalisation a push and pull process

A

One way fragmented – breaking down of initial assumptions of who has the power, nation states have less and less power than they used to. Changing the way in which they manufacture and sell services. With lection of Donald Trump, Brexit – probably a good theory

48
Q

3 thesis for globalisation

A
  1. The hyperglobalist thesis
  2. The sceptical thesis
  3. The transformationalist thesis
49
Q

Quote on the hyperglobalist position (view on globalisation)

A

Giddens 1999: ‘Globalisation is political, technological and cultural, as well as economic’

50
Q

Quote on the sceptical position (view on globalisation)

A

Glyn + Sutcliffe 1992: ‘The world economy is considerably more globalised than 50 years ago; but much less so than is theoretically possible’

51
Q

Quote on the transformationalist approach (view on globalisation)

A

Held 1999: ‘Contemporary processes of globalisation are historically unprecedented’

Economic Globalisation (10 decks)

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