Lecture 7: Chapter 9

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International Development Studies
Anne- Emanuelle Birn

Lecture 7: Chapter 9 Globalization, Trade, Work and Health *What are the differences b/w global health and international health?* Globalization J the process whereby people (and the world at large) are becoming more interconnected + independent via particular political J economic relations that work to compress time, space, and cognition (awareness of world as a whole) Table 9.1: Key Definitions Relating to Globalization, Trade, and Work Free trade zones/export processing zones J areas of a country where tariffs + quotas are eliminated and regulations + labor protections are lowered - In hopes to attract new business + foreign direct investment - Most free trade zones are labor intensive manufacturing centers that involve the import of raw materials and the export factory products Deregulation J reduction of the role of state in goods, service and labor market Informal sector J work carried out outside the official legal and social institutions of society Multinational and transnational corporation J enterprises that own, manage, or oversee production and deliver goods and services in at least two countries Capital J owners, investors, and financial and physical resources Labor J work or workers and the sum total of the goods and services they produce GNP - A measure of national income and output that estimates the value of all goods and services produced in an economy. GNP included personal and governmental expenditures, private domestic investment, exports minus imports, as well as net income from assets abroad. Gross domestic product (GDP) by contrast does not include income from abroad, which for some countries can be substantial Protectionism J an economic policy of restraining trade between nations thru tariffs on imported goods, restrictive quotas, and other governmental regulations that discourage imports Free trade J a market model in which trade in goods and services between and within countries flow unhindered by government-imposed restrictions. In reality most ^free trade_ is not truly free, as the government creates regulations and loopholes that favor large enterprises at the expense of smaller businesses Currency devaluation J a reduction in the value of a currency with respect to other monetary units, as opposed to inflation, which implies a reduction in the value of a currency in terms of ability to obtain goods and services Foreign exchange market J a market that exists when one currency is traded for another by large banks, central banks, currency speculators, transnational corporations, governments and other financial institutions Foreign direct investment J investment made to acquire lasting interest in enterprises operating outside of the home country economy of the investor Liberalization J policy that allows prices to be determined by market forces, including exchange rates, interest rates, real wages; lifts barriers to trade and investment such as tariffs and non-tariff barriers; ^opens_ economies; reduces the subsides that keep prices of some essential goods artificially low so that the ^price is right_ and reflects the actual value of the good in the market Subsidiary/foreign affiliate J a business entity that is controlled by another (often foreign) entity Privatization J selling of government assets and state-owned enterprises Progressive taxation J a rate of taxation in which the effective tax rate increases as the amount to which the rate is applied increases. With regard to income taxes, people with a higher income would pay a higher percentage of that income in taxes www.notesolution.com Tariffs and duties J a tax on foreign goods on importation, tariffs can be a set amount or a percent of the total value of imports, or be set according to weight or volume Foreign reserves - foreign currency deposits held by central banks and monetary authorizes to safeguard against recession Subsidies J governmental financial assistance, usually in the form of grants, tax breaks, or trade barriers, in order to encourage the production or purchase of goods Angles on health and globalization: p418 - Impact on health of neoliberal globalization o ^free_ trade and financial liberalization: Privatization and deregulations o Debt crisises and imposed conditionalities of IFIs to abandon welfare state o Environmental change o Restructuring of labor processes o Creation of free trade zones o Occupational (work-related) health and disease - Health problems also understood as manifestation of globalization o Spread of infectious diseases (ex: SARS, HIV, TB, West Nile) o Spread of political, social and cultural conditions that underpin health and disease (ex: mental illness, diabetes) - International Health reshaped as ^global Health_ Globalization did it all start at UofT? - Marshall McLuhan J Medium is the Massage J changes in the way people function o Coined the term mass communication: electronic media; cultural interconnected Globalization defined p418 - Any system of transcontinental trade and travel - Integration of economies into global market - Communication accelerated: transportation, electronic media - International flow of capital, labor knowledge - Cultural importation/invasion/hegemony Neoliberal Globalization p420-1 - Promotion of ^free markets_/ removal of trade barriers resulting in: o Reduction of subsides for the poor o Cost recovery/user fees for essetnail services o Privatization of public assets o Weaken role of government o Growing dominance of western-based transnational capital o High military expenditures J obtain oil, Iraq war, control over a country[s goods, Political order dominated by the logical of the market What[s old/ongoing and what[s new in globalization Old ongoing: - Promotion of free trade 17 -18 century - Appalling factory conditions 19 cent J child labor th - Communications/transportation revolution 19 cent - Transnationalism (colonialism) - ^cocacolisation_ J cultural and corporate New: - Internationalization of finance (mostly speculative) - Rate of increase in social inequalities www.notesolution.com Understanding globalization p418-421 - Not inherently ^good or bad_ o Depends on : who controls the flow of capital, labor, knowledge around the world and who benefits from it - Neoliberal globalization, however has proven highly problematic - Power and politics central Pathways: Glob
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