POLSCI 1AA3 Lecture Notes - Lecture 2: International Trade, International Communication, Westernization
5 Dec 2018
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Document Summary
International trade and investment have increased enormously in the last 50 years. However, trade and financial flows are not a unique characteristic of the late 20th early 21st century. Some of the largest economic agents on the planet are not states but. Measured by revenue (fortune global 500, 2016) at number 23 is. Walmart with revenue of close to billion, with several other corporations close behind. These corporations have revenues that are larger than all but the largest states. Larger than the most significant international organizations. Moreover, the absolute number of mncs has been increasing rapidly. However, mncs are not historically unique, nor is their power as individual actors greater now than historically. East india company, hudson"s bay corporation, etc. Some of the key international organizations like the world trade. Organization and the international monetary fund have rules in place that bind states into an international system framed around liberal free trade, private markets, etc.
