INTLSTD 101 Lecture Notes - Lecture 2: Gini Coefficient, Foreign Direct Investment, Gross Domestic Product
13 Sep 2016
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Intensified transnational movement of people, goods and capital. The processes through which regions have become more interdependent through communication, transportation, and trade. Hyper globalists and skeptics both believe that globalization is happening. Archaic globalization: began with the silk roads; medicine, glass, spices, silk, human labor all traveled along those routes, cross fertilization of ideas (people exchanged political, economic, and religious ideologies, limited to the old world. With industrialization: modern globalization: communications, transportation, technology advance dramatically, standardization increases; scope of trade and immigration peak. Contemporary globalization: technology is in the hands of the individual; so you can consume and produce information, there are a number of features that distinguish contemporary globalization; trade and immigration are not at their highest during this phase. People can compete: agree that globalization would increase economic development. Never want to raise the gini coefficient; always look to lowering it. Foreign trade (as a percent of gross domestic product) Non-tariff barriers like import quotas and licensing requirements.
