Lecture 2 : Geographie of the global changes Flashcards
What’s the economic internationalization
extent to which national economies interact with one another through the exchange of goods and services
4 description of the economic internationalization
can be measured
indicators : trade - GDP ratio
focus on the extension of economic activities across national boundaries ( arm’s lenght )
quantitative approach
what’s the economic globalization ( 4 characteristics )
1- set of processes through which economic activities are increasingly interconnected
2-functional integration of production activities, global assembly lines
3-Emergence of new set of actors on global stage ( institution, agreements)
4-Quantitive + Qualitative changes that facilitate (deeper ) global integration
Who are the triumphalist accounts of the Hyperlgobalizers’ p-o-v
F. Fukuyama
T. Friedman
Give 6 examples of economies that were highly developed .
Antiquity , Roman Empire, Silk Road
Middle ages : new empire, rise of Islam and trade
Fall of constantinople ans the rise of europe
What are the 2 key phases of international trade
1500-1800- early commercial expansion
as well as
1800- WW1
Define the international trade in 1500-1800 (4)
1) Age of discovery & exploration
2)Trade in commerce in high valued goods
3)Mercantilism & protectionism
4-Early commercial expansion ( Europe )
Define the international trade in 1800-WW1 (6)
Rise of the colonial economy trade boom - bulk staples drivers : free trade , migration, innovation Divergence of the Europe and the rest innovation high migration of people
two key differences of our global economy compared to after WW1
1-type of trade and capital flows
2- market integration - breadth and depth
What are the 5 countries with the highest global connectedness
netherlands singapore luxenbourg ireland switzerland
What does the commodity market mean
one price rules rule.
price is directly and only influenced by transportation
What are the 5 countries with the highest global connectedness
Netherlands Singapore Luxembourg Ireland Switzerland
What are the consequences of a more global economy (3)
1) Loss of domestic control over nation’s own economy
2) Increased intra-firm trade
3) Job opportunities cs. job losses
Explain : Loss of domestic control over nation’s own economy.
Race to the bottom
MNCs and environmental regulations
What are the key elements of a definition of globalization
1 . a set of non-going processes
- both spatial and temporal dimensions
- stretching (extensions ) of economic activities
- 2intensification (growing magnitude of transactions/ interconnectedness
- increase of the velocity of transactions
- magnified local-global impacts , i.e. , unfolds simultaneously over multiples geographic scales
Explain the ‘’ both spatial and temporal dimensions “ of the globalization
- stretching (extensions ) of economic activities
- 2intensification (growing magnitude of transactions/ interconnectedness
- increase of the velocity of transactions
what’s the arm length trade
it is only what is exchanged at the final imput
Who said : The world is flat
Friedman
What do transformationalists and hyperglobalists have
in common
there’s only a national economic space. No national border.
Give 3 resources that Roman civilization was trading
land
iron
gold
What were the goods traded between 1500-1800
golds, spices, cotton
What are the 4 pillars of global connectedness
1) Trade flows
2) Capital flows
3) information
4) Migration flows
Whats new regarding services in our global economy
before. services, were NOT sharable.
How have services become sharable in our new economy
trough the increasing flow of telecommunication
How would u qualify the global economy of the Middle ages
new empires, rise of Islam and trade
Why does the hyperglobalizer’s vision starts with the fall of the soviet union?
used to divide the Capitalist West. and the Socialist East
Skeptics point out that the volume of trade as a % of national income was higher where and when ?
- Europe
2. Pre WW1
What are the 3 arguments avances by the transformationalists ?
1- Power struggles among nation-states & other actors
2- There’s a national economie but no national territorial bonderies
3-Emphasis on local-global connections ???
20th C drivers of commercial integration ? (3)
1-much of the ' work ' done in the 19thc C 2-key changes in the 20th C: - trade (re)liberalization -liberalization of capital markets -international gouvernance 3-Greater degree of connectedness
Why do we say that much of the ‘ new ‘ economy was done during the 19th C? (3)
Rise of the colonial economy
trade boom- bulk stapples
drivers : free trade, migration, innovation.
drivers of the 19th C ?
free trade, migration.
name 3 key changes in the 20th C:
- trade (re)liberalization
- liberalization of capital markets
- international gouvernance
Examples of world governance
GATT / WTO
IMF
trade blocks : EU / NAFTA
GATT
General Agreements on Tariff + Trade
WTO
Wordl Trade Organization
IMF
International Monetary Fund
NAFTA?
North Americain Free Trade Agreement
Explain the importance of migration flows for the global connectedness (3)
1) Human capital
2) increases capital flows, as immigrants often send money back to their home country for their family
3) movements of labor have a way higher potential have of increasing global efficienty far more than capital
