PSCI150 Lecture Notes - Lecture 5: Bretton Woods System, World Trade Organization, International Inequality
9 Aug 2016
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5: some remaining questions , will an open liberal world economic order suvive, what have we learned this week, shifting focus: global inequality. Quick review of the where we are in the first half: Lesson from last week: rising national wealth brings growing state power: the british experience, the american experience. World"s leading trader: 2013 china became largest exporter and importer in the world. Dominant firms: icbc industrial and commercial bank of china. February 3, 2015: construction bank of china, agricultural bank of china, petrochina oil company. The chinese state can tell these companies to do something and they have to do it. China is the world"s largest creditor in the world. Not as much power as you"d think. Probably not because the us is so powerful. Global currency: everyone uses the us dollar, china pays everyone with the us dollar, chinese currency is regulated. Chinese government controls the movement in the chinese market.
