2.8.2012 - Wednesday February 8 2012 SOC 2237 Lecture notes...

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Wednesday, February 8, 2012SOC 2237: Lecture notes – Ch. 4From Nation Development to GlobalizationThe Development Project Reconstructs A World Markey-Cold War Rise of US – centred world economy oMilitary and economic largesse secured informal empireoFreedom of enterpriseoUS Dollar as international currencyUS Fed Reserve System led central banks in regulatinginternational monetary systemMilitary and financial aid assisted 3rdworld Shift From Development globalization project-“Economic nationalism” an ideal not a guaranteeoSome domestic production converted to exportsoDeeping integration of production relations across (not within) nationstatesGrowing gap between 1stand 3rdworld living standardsDifferentiation among states within the 3rdworld i.e (NICs)Import substitution industrialization (ISI) vs. Export-oriented industrialization(EOI)-Latin American used ISI quite well-Japan had limited resourcesoThey’re background is EOIo1960’s the export – was cheap, now high-end oriented itemsoChina is doing a similar strategyoWhen they started their industry they placed high tariff laws (madeAmerican cars quite expensive). To build their industry upoBalance of trade – how much you are spending coming in and outEOI and NICs-EOI relocated manufacturing of consumer goods, machinery, and computersto the 3rdworldo1960-79: 3rdworld manufacturing exports increased in share of worldtrade from 6 to 10%
NICs accounted for the bulk of export growth-Asian NICs’ EOI exceptional for geopolitical reason: oEast Asian Pacific perimeter strategic in Cold WaroMilitary alliances opened US markets in exportsFavoured US trade alliances, largest consumer marketoJapan had historical trade and investment links-Global consumers and global labour force reproduced each otherFordism – high production to high consumptionThe World Factory-NICs strategy of EOI sparked “World Factory” phenomenonoSpread of manufacturing export platforms-Definition: “World” products produced in steps distributed amonggeographically dispersed sites like an assembly line at single/multiple sitesoi.e. NikeoProducts made everywhere and assembled in one country thenshipped to consumed in the US market-

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