POLSCI 1G06 Lecture Notes - Lecture 9: International Trade, Hyperbole, Fortune Global 500
4 Jun 2014
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Document Summary
What globalization is, arguably, not (or at least not just): International trade and investment have increased enormously in the last 30 years. However, trade and financial flows are not a unique characteristic of the late 20th century. By some measures (trade as percentage of gdp, capital flows/gdp), the world was more internationally connected in 1913 than it was until the 1990s. Moreover, trade can take place between national economies without indicating any socially significant interpenetration. An inter-national economy is not the same thing as a global economy. Some of the largest economic agents on the planet are not states but. Measured by revenue (fortune global 500) at number 25 is royal. Dutch shell, with revenue of close to billion, with several other corporations close behind. Revenue larger than the gdp of all but 24 states. Larger than the most significant international organizations. Moreover, the absolute number of mncs has been increasing rapidly.
