POL208Y1 Lecture : International Political Economy

103 views5 pages
School
Course
Professor

Document Summary

January 18, 2011: 2008 financial crisis after housing bubble burst roughly t rillion exchanges on world market. The financial meltdown started in minnesota housing market demonstrates how interconnected global financial flows are. System of cheap mortgages so value of house didn"t actually matter, borrowing and the only hope of reimbursement was in the housing market, where it was thought to be steadily rising. Banks are no longer able to borrow money, small businesses cannot borrow money from banks. South lacked equity; entire banking sector burst in iceland. World trade flows decreased: oecd definition: globalization is a process where markets and production in different countries are becoming increasingly interdependent due to the dynamics of trade in goods and services, flows of capital and technology. On top of this, the increased international specialization and increased transnational production of companies is another crucial element to globalization: american cars, 85% production is allocated to other parts of world.

Get access

Grade+
$40 USD/m
Billed monthly
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
10 Verified Answers
Class+
$30 USD/m
Billed monthly
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
7 Verified Answers

Related Documents

Related Questions