The Impact of Globalization on Income and Employment

The Impact of Globalization on Income and Employment -...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
The Impact of Globalization on Income  and Employment The Downside of Integrated Markets by  Michael Spence July/August issue Foreign Affairs  1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Ok, who is he and why should I believe him 2 Good Question and I do not suggest you believe him just because. Use your “little gray cells” and think He is a Nobel prize winner in Economics in 2001 Does that make him any better than you? No, just a bigger ego and he sees things differently than most. The Question should be: Does he really know and understand? I do not know However, lets see what he says
Background image of page 2
Globalization: What is it 3 “The process by which markets integrate worldwide.” In the past 60 years it has accelerated steadily due to new technologies, management expertise, reduced transportation and transaction costs as well as Tariffs and other man-made barriers to international trade have been reduced. This includes travel restrictions! Enabling developing countries to sustain growth rates My Comments: Trade and a lack of the need for most countries to deal with on-going wars or building
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Emerging economies impact is rising 4 With the withdrawal of the largest consumers: USA and EU – Has it had any real affect on the emerging economies? Why? What is the Impact? When did the real acceleration begin? Turn of the century Business goes to cheap labor; what happened then? China opened to manufacturing – why? India came off its socialist doctrines but so did China With 40 % of world population – something had to give
Background image of page 4
Is the climb of emerging guys Permanent? 5 Notice there are more questions than answers Which is good or is that a question also? But I digress If these emerging economies are growing will they have an impact on the rest of the world? Yes? No? Why? “By relocating some parts of international supply chains, globalization has been affecting the price of goods, job patterns, and wages almost everywhere.” “In the advanced economies, it is redistributing employment opportunities and incomes.”
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Change is the only constant 6 The last 60 years in the U.S. “The U.S. economy has been dominant in the design
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/20/2012 for the course IS 4860 taught by Professor Shaver during the Spring '12 term at Kennesaw.

Page1 / 21

The Impact of Globalization on Income and Employment -...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online