POLSCI 2J03 Lecture Notes - Comparative Advantage, General Agreement On Tariffs And Trade, United Nations Conference On Trade And Development

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McMaster University, Winter 2014
- General movement, however there are complications
o1992 Rio Conference on sustainable development
How do you pursue economic development without destroying the environment?
Important point to know, the real conference ends up inserting this sustainable
development discussion
We want to develop economically, but we want to do so in a way that does not
destroy the environment.
o1997 East Asian Crisis raises questions about “Asian” model and development
Financial crisis that took place in the development miracles of East Asia that saw
leadership in development
Late 1990s go into a crisis period
Was the East Asian model wrong? Was it flawed? Was it state led development?
How do you interpret the East Asian financial crisis?
oChina continues massive industrialization raising environmental, economic and political
The role of China, the most populous country in the world
- 2008-
oQuestions about financial liberalization - the deregulation about financial markets is
thrown into crisis by the fact that the US financial system almost collapses and with it the
WESTERN financial system collapses.
oWhat will happen in developing countries that attempt to pursue the same model?
oCritiques of the Neoliberal model - “You can’t let market forces dictate your model”
oReturn to the developmental model?
oBRICS assert themselves during US and Euro Weakness
oIncreased bargaining power to shape the rules surrounding development
oCommon climate change interest?
oSerious conflict with developed and developing countries regarding climate change?
Reduction of CO2 emissions?
How will we reduce these emissions in a manner that is acceptable by all of the
countries in the world
Developed countries have created the problem of climate change, and have grown
rich and developed
Countries that have not participated in this process question whether they should
pay the price, or whether they are allowed to develop as well.
Who bears the burden of climate change?
Angie © McMaster University
Winter 2014
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