globalization debate 2011

globalization debate 2011 - Globalization Debates Kate Zhou...

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Unformatted text preview: Globalization Debates Kate Zhou Dept. of Political Science Definitions • Economic globalization constitutes integration of national economies into the international economy through trade, direct foreign investment (by corporations and multinationals), short-term capital flows, international flows of workers and humanity generally, and flows of technology ( Jagdish Bhagwati, p.3). • Falling government barriers to trade/market • Culture globalization Why is Globalization so hot? • Protectionist strategies in many developing countries have failed to bring prosperity. • Past failure of autarky in India and China • The state can fail as often as markets do. • The governments of Newly Industrialized Economies (NIE) in East Asia worked in a market-friendly • The end of the Cold War Anti-globalization sentiments are more prevalent in North • Capitalism does not address the questions of social justice. • Globalization is also in essence capitalist exploitation of the weak nations. • Free trade with much poorer countries threatens jobs and prosperity in North. • Globalization provides better benefits to the wealthier and stronger countries than the poorer and weaker ones • Sierra Club’s concern over globalization’s effect on environment • Globalization is imperiling both mainstream and indigenous cultures. • Creates opportunities for many transnational crimes ( prostitution, traffic on women and drugs, and aids) • High-income countries are hypocritical in their imposition of free trade upon developing countries (Bush Steel and farm bill). Criticism Universities in the West: an avalanche of criticism of globalization • globalization lacks a human face. • sets back social and ethical agendas, such as the reduction of child labor and poverty in poor countries and the promotion of gender equality and environmental protection everywhere. • profit-seeking makes people selfish and vicious. Supporters of Globalization “It may be said without exaggeration that the great extent and rapid increase in international trade, in being the principal guarantee of the peace of the world, is the great permanent security for the uninterrupted progress of the ideas, the institutions.” John Stuart Mill, Principles of Political Economy (1848): Check the Facts • Trade liberalization is generally a strongly positive contributor to poverty alleviation - it allows people to exploit their productive potential,...
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This note was uploaded on 04/08/2011 for the course POLS 305 taught by Professor Zhou during the Spring '11 term at University of Hawaii, Manoa.

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globalization debate 2011 - Globalization Debates Kate Zhou...

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