GLBL ST 1 Lecture Notes - Lecture 1: Economic Integration, Free Trade, Cultural Homogenization
Document Summary
Mncs & trade: growth in number & signi cance of multi-national corporations, resulting integration of economies around world as part of mnc global production networks, questions: What does it mean to speak of the u. s. economy. What are the costs of globalization & how are those costs distributed - by country - by group: figures: World real gdp : world is rapidly getting richer. Number of multinational corporations gure: the world economy is not only expanding, but also becoming increasingly integrated. The world"s 100 largest economies: some international corporations are really large. The pattern of merchandise trade surpluses and de cits (de cits: imports > exports), Middle east - surplus (most oil), the u. s. - de cit, russia - surplus. Global exports as a percentage of world output 1870-1996 (exports / gdp: globalization & inequality. With trade, countries can specialize their resources in what they can do best. !1: skilled / unskilled wage ratio: becoming larger with time passing on.
