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7 Jan 2011
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November 18, 2010
Globalization
๎€States have been interconnected in some extent
๎€The extent of what we trade to each other (unique)
๎€Third world societies support raw materials
๎€Western Europe manufacturing centres
๎€Global economy existed for 500 years
๎€States try to protect themselves by cutting themselves off from global trade
๎€Specialize on what they produce efficiently and trade
๎€UN estimates 23,000 people that starve to death every single day (mostly children)
๎€Per capital GDP in high income countries is 16x that of per capita GDP in developing
countries
๎€Richest 20% consume 75%
๎€Globalization has been a failure
๎€Measurements are not entirely accurate
๎€GDP is measure of everything that is traded (everything that involves a monetary
transaction)
๎€North America and Europe have strict environmental standards
๎€Steel manufacturers โ€“ Germany
๎€Germany sold steel plants sold factories to China
๎€Economists strongly favour multinational organizations
๎€Provide investment that otherwise would not be available
๎€BENEFITS:
oInvestment creates benefits (jobs)
oMultinational organizations pay better than local
๎€Favour stabilities
๎€Training
oPeaceful domestic environment
oTransfer of technology
oProvides less developed countries with access to world markets
oEmploy lot of people in particular areas where labour costs are really low
๎€Multinational organizations engines of development
๎€Marxist โ€“ exploits working class
๎€Dependency theorists โ€“ interested in making profits
๎€Multinationals exasperate income inequalities
๎€Preventing change since development entails increasing literacy, sets liberty standards,
human rightsโ€ฆ,etc.
๎€Form of cultural imperialism
๎€MacDonaldโ€™s marketing strategy โ€“ exact same burger
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Document Summary

states have been interconnected in some extent. The extent of what we trade to each other (unique) states t ry to protect themselves by cutting themselves off from global trade. specialize on what they produce efficiently and trade. un estimates 23,000 people that starve to death every single day (mostly children) per capital gdp in high income countries is 16x that of per capita gdp in developing countries. gdp is measure of everything that is traded (everything that involves a monetary transaction) north america and europe have strict environmental standards. germany sold steel plants sold factories to china. provide investment that otherwise would not be available. benefits: investment creates benefits (jobs, multinational organizations pay better than local. training: peaceful domestic environment, transfer of technology, provides less developed countries with access to world markets, employ lot of people in particular areas where labour costs are really low.

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