HREQ 3010 Lecture Notes - Lecture 6: Subprime Lending, International Political Economy, Securitization

• School: York University
• Department: Human Rights and Equity Studies
• Course: HREQ 3010
• Professor: Paul Brienza

Document Summary

World has become more integrated and interdependent global political. Economy (gpe) interdependence of governments, growing influence of transnational corporations and increasing importance of international organizations such as the imf, world bank, wto. Governments are more likely to be coordinated central way: this means that governments also have less capacity for independent action locked into global trade. Also resistance against this would needs to be coordinated (not just like n. korea) Decisions not left with single nations but with global organizations (imf,wb) is the extent to which the interdependence of governments. Global crisis and integrations integrated economic system = greater interdependence = greater vulnerability: the vulnerability of the contemporary global financial systems to periodic crises (ravenhill, 8) What happens in u. s. or china will influence all parts of the globe. Sub-prime lending: carrying a higher-than-usual element of risk. Usually given to borrowers that have a limited experience in borrowing poor credit history, or low or unreliable income.