PO232 Lecture Notes - Lecture 7: Plaza Accord, Totalitarianism, Keynesian Economics
Document Summary
Neoliberalism, structural adjustment, global value chains and the global financial crisis. Isi/national developmentalism in south (driving for industrialization, reorg their economies: north-south relations: decolonization, northern support for southern development. "73 - opec oil embargo, restricted exports to countries aligned with israel. A part of the problem, not reaction) new challenges including newly industrialized. Japan, germany: producers pushing them to bankruptcy. World trade increasingly zero-sum: as global economic growth slowed down, there are political fights and responses, not just economic issue. Firms, workers and trying to hang on: pressuring govts for help, became antagonistic towards another, labour unions and representation during bw was cooperative, now more outright confrontation, govt doesn"t know what to do. Responses: printed money, deficit spending and borrowing, trade conflict (vers: "voluntary" export restriction, american protectionism rose quickly, period that was similar to today, pressure trading partners for concessions, transnationalization of production; rise of europe and south-east asia.
