Globalization

Globalization - G lobal Well-Being I. Globalization: a. The...

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I. Globalization: a. The changes in technology that have affected communication and transportation. a. The implication is the decline in the importance of distance. b. We can communicate with those on the other side of the planet instantaneously, and travel to the other side of the planet within a day. c. This leads to a situation of increased economic entanglement, which means that if one state goes into economic tailspin, it may affect other states in the international system and vice versa. II. 1944 Bretton Woods Conference (44 states participate) a. 44 Nation-States sent representatives to Bretton Woods, NH to devise a new regime to govern international economic relations. a. Assumptions of the conference: a. Economic Nationalism -> Depression -> Political Extremism -> International Conflict a. Economic Nationalism, made up of 3 parts: i. Trade Protectionism 1. Free Trade: opposite of trade protectionism; states are permitted to trade freely among one another. 2. Trade protectionism is obstacles to other states selling
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Globalization - G lobal Well-Being I. Globalization: a. The...

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