GLOBALZN 1A03 Lecture 5: Lecture 5 - Economic Globalization I (1)
17 Apr 2021
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Document Summary
Globalization is usually referring to economic globalization in popular discourse. Interconnections of lecture 5 - are manifested in the economic sphere. More advanced than other aspects of globalization. Borders lowered: money > goods > people. Fosters economic growth = prosperity for all = world peace! Is now more intense than ever - but certainly not new. Has been part of human life for thousands of years. Roots are found in regional trade routes (ie. asia, middle east, mediterranean) Maritime trade routes of the chinese empire (ming dynasty) Key european exploration routes during the "age of discovery" The emergence of first multinational corporations (influenced global expansion) Mid 19th to early 20th century - laissez-faire imperialism. European economics highly integrated; ended by ww1. Protectionism - "de-globalization" of economics --> war. Free trade, rise of tncs, deregulated finance, etc. Some similarities to past waves - but more intense. Freer markets; low taxes; lower trade and capital barriers; deregulation, welfare retrenchment, etc.
