PO232 Lecture Notes - Lecture 13: Free Trade, Global Value Chain, World Trade Organization

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18 Dec 2020
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All under globalization: more tightly bound together, interconnected, interdependent. World is still big; geography and proximity still important. In helping to shape who specifically is more prominent in any given country"s global interactions. Fdi since 80s more about creating value chains, constructing interconnected network that span globe as way of making cheaper products. But many of them were mainly regional: regional production networks (rpns: europe, north america, eastern asia (japan, s korea, taiwan, china, vietnam + more) Lots of what looks like globalization may be regionalization (intensification of economic interconnections between countries in a region) Starting point: distinct geographical areas of world, maybe sharing some cultural commodities, but: Institutionalized political side of the story, regionalization is increase in economic activity, then Regionalism: increase in coop between govts that"s formally organized through agreements and institutions at a regional level. Signing agreements between states, creating institutions like un, bilateral trade deals, trade deals within regions.

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