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Unformatted text preview: Tuesday february 1 - economic globalization urbanization has been linked to • industrialization • deindustrialization • capitalism • and since 1980ʼs, globalization National shift - rustbelt to sunbelt global Shift - from core to periphery • industrialization in the periphery (rise of Hong Kong, Taiwan, Singapore) • Deindustrialization (increased polarization of wealth/poor in large older capitalist cities • rise of service sector in core (mostly in MDCʼs, and India) Globalization1. increasing interconnectedness of people and places through processes of economic, political, cultural and environmental change • example: olympic games • lives of ordinary people shaped by events, actions from far away 2. overarching process of integration and convergence • ATMʼs worldwide • globalization takes place in cities, and cities embody and reﬂect globalization • technology has sped up the spread of information Three types of globalization: • economic: rise in global capital ﬂoe, a shift in location of manufacturers, role of TNCʼs and FDI • political: decline in inﬂuence of governments over business • cultural: new transportation methods allow the spread of idea and cultures into new places Economic Globalization 1. service: rapid growth and expansion of service industries 2. Emergence of transnational corporations and Foreign Direct Investment (FDI) 3. global ﬁnancial integration: • resultant from huge increase in the amount of capital resources that ﬂow transnationally • deregulation of ﬁnancial markets (bretton woods no longer in effect) 4. telecommunications advances that make communication anywhere on the globe Transnational Corporations: Companies that participate in international trade and production across several countries • eliminates transportation costs by producing in more locales • avoid barriers against imported goods • mobile/ﬂexible capital By 2007 40% of international trade done by TNCʼs • Fordʼs international sales = 35% of proﬁt • 4 TNCʼs = 80% of world cocoa sales (Cadbury, Nestle, Rowntree, Gill & Diffus) • Nike: a “US” company, but the product was never made in US. US 2009 largest companies 1. Exxon Mobil 2. Wal-Mart 3. Chevron 4. Conoco-Phillips 5. General Electric 6. GM 7. Ford 8. AT & T 9. Hewlett-Packard 10.Valero Energy TNCʼs mixed results postives • create new employment opportunities • pay higher wages than local companies • multiplier effect stimulates economy negatives - inpproriate products? (i.e. lead in childrenʼs toys) - exploitation of local labor - no long term investment in community(wal-mart vs. locally owned stores) Foreign Direct INvestment TNCʼs invest abroad in • infrastructure (factories, headquarters) • stock markets (i.e. Guiness in Ghana) FDI by TNCʼs plays key role in reorganizing global economy Political institutions integrate • creation of UNited Nations • EU Political ideologies harmonize (?) - rise of democracy movement around the globe, the decline of communism • global spread of ideas • music • ﬁlm • television • womenʼs rights • • • • The spread of information - internet access, cell phones, etc the spread of consumpsion- Mcdonalds, coke, fashion the globalization of spectacles- plympic games, world cup soccer, etc the built form/ architecture - hugh rise sky-scrapers, indoor malls, suburbs, will it make cities all look the same Impacts of gobalization on cities many are undergoing similar economic cultural and spatial changes globalization both causes and reﬂects changes most if not all cities act as transmission points for globalization and are the focal point of a range of global/local relationships ...
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This note was uploaded on 03/03/2011 for the course GEOG 140 taught by Professor Benton-short during the Spring '11 term at GWU.
- Spring '11