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Lecture7 - Globalization-Conclusions Pro-Globalization 1...

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Globalization -Conclusions Pro-Globalization 1. Logical expression of international capitalism - 2. Globalization benefits all people & countries a. Increased trade → wealth b. Increased competition → improves services and products c. Increased flow of capital to poor places → opportunity 3. Countries that have “globalized” are “richer” 4. Global poverty has dropped in the era of globalization Anti-Globalization 1. Globalization is not “natural” 2. Benefits the rich, while making the poor worse-off a. Rising gini scores around the world b. Rising poverty rates within countries, masked by national stats China’s inflation rate surged to an 11 year high of 7.1% in Jan 08 3. Examples of success mixed protectionism with free trade
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