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Lecture 2

Lecture 2 - Globalization.docx

5 Pages

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Geography 3422A/B
Milford Green

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Globalization 1/15/2013 11:33:00 AM Globalization Debate  Hyperglobalists o Global economy is borderless o Capital, information and innovation flow quickly enabled by technology  Skeptics o World economy is not global yet o We do have an international economy  Political right – pro-globalizers o Positive economic impacts outweigh the drawbacks  Political left – anti-globalizers o Globalization is a problem, leads to greater levels of inequality  International  Interregional  Scale needs consideration o Firms must consider both global trends and local ones o Customization for a local market FDI  A key element in international economic integration  creates direct, stable and long-lasting links between economies  encourages the transfer of technology and know-how between countries  allows the host economy to promote its products more widely in international markets  Trends: o 1914 – Britain is the worlds top country for FDI (investing in others) o 1970 – US takes over as largest FD Investor o Japan is not as welcoming as most countries of FDI into their economy o Canada has been attracting less FDI than it used to o The total stock of FDI is steadily increasing o 1995 – turning point, more money began going out of Canada rather than coming in o 1914 – biggest host nation was Latin America o 1914 – biggest home nation was the UK o 1938 – biggest host nation was Latin America o 1938 – biggest home nation was the UK  US had large increase  Germany had a large decrease o 1914 – 55% was invested in natural resources, 30% in services and 15% in manufacturing  Asia-Pacific in 2011 o Top destination country – China o Top source country – Japan o Most = $46 billion in metals and minerals  Europe o Top destination country – UK o Top source country – UK o Most = $41 billion in renewable energy  North America o Top destination country – California (Ontario 3 )rd rd o Top source country – California (Ontario 3 ) o Most = $16 billion renewable energy  Middle East and Africa o Top destination country – UAE o Top source country – UAE o Most = $35 billion in coal, oil and natural gas  Latin America o Top destination country – Brazil o Top source country – Brazil o Most =$36 billion in software, IT and communications  M&A’s o In developed economies much of the FDI growth was due to cross-border mergers and acquisitions, mainly in Europe o Global stock of inward FDI tripled during the 1980s, and again in the 1990s  Canada has more FDI outflow than inflow  Canada's share of global outward M&A’s increased from 2.1% in 1990 to 4.2% in 2006, higher than its world share of GDP o The financial industry saw the largest volume of M&A  Ventur
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