POL114H5 Lecture : Globalization
Document Summary
states have been interconnected in some extent. The extent of what we trade to each other (unique) states t ry to protect themselves by cutting themselves off from global trade. specialize on what they produce efficiently and trade. un estimates 23,000 people that starve to death every single day (mostly children) per capital gdp in high income countries is 16x that of per capita gdp in developing countries. gdp is measure of everything that is traded (everything that involves a monetary transaction) north america and europe have strict environmental standards. germany sold steel plants sold factories to china. provide investment that otherwise would not be available. benefits: investment creates benefits (jobs, multinational organizations pay better than local. training: peaceful domestic environment, transfer of technology, provides less developed countries with access to world markets, employ lot of people in particular areas where labour costs are really low.
