Brian_Presentation - The Current Era of Globalisation and...

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The Current Era of Globalisation and Capitalist Crises in History How do we understand the global dispersion of production within this era of globalisation? Presented by; Brian Makundi [mknbri005] ECO 5073S
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How do we understand the global dispersion of production within this era of globalisation?
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Made in “The World?”
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Source: Kaplinsky, R. (2005) Globalization, Poverty and Inequality: Between a Rock and a Hard Place, pp 19 Figure 1.6. Comparison of Internationalisation and Globalisation “Internationalisation” “Globalisation” Time Period Late nineteenth and early 20 th century Late 20 th and early 21 st century The flow of people Migration of the unskilled Migration of the skilled and the monied The flow of capital Long-term capital flows. Foreign direct investment Short-term capital flows. Foreign direct investment The flow of products Trade in commodities and finished products. Trade in complementary products Trade in components and producer services Trade in competitive products
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The evolution of production value chains from the last era of globalization to the present (end 19c – end 20c) Tariff and quota restrictions from the 50’s and 60’s to tame the exponential growth of exports from Japan and other newly industrializing Asian economies (to Western Markets) led to establishment of the Multifibre Agreement (MFA) culminating in Triangular production networks i.e. outsourcing of outsourcing No longer was a Country’s competitive edge solely determined by traditional comparative advantages (natural resources, labour & capital) but un-utilised export quotas were attractive enough to influence FDI decisions. Lome Convention, AGOA e.g.
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