POLITSC 1300 Lecture : 11_22 GP International Political Economy
Document Summary
Globalization is more than interdependence; a sense that the linkages among states are broader and deeper than ever before, and not just economically, culturally, transportation ally, etc. Languages are dying out (homogenization) due to globalization. The idea of identity being erased and a sense of loss occurring. It is not the multinational"s job to provide and think about their locals like it is for politicians; their job is to leave others out of poverty. Globalization has adverse effects on culture and the flattening of differences economically. Borrow from foreign banks and end up accruing a lot of national debt and sometimes some pay more debt than their national income. One way to solve this would be to allow for foreign investment in your country (not always the case though when multinationals make a profit for the nation, and could even drive businesses away) It hurts sovereignty because they become very dependent.