GEOG130 Lecture16_Globalization

GEOG130 Lecture16_Globalization - Economy/Globalization...

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Economy/Globalization 1800-1950 Lecture 16
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Globalization What is Globalization ??? Is the opening of national economies to the flow of international goods, capital, and ideas. Removes obstruction of movement of goods and create conditions that are favorable for trading in which economies can expand. Your book states: “The 1970s marked the emergence of globalization as the latest stage in the evolution of the global political economy.” (p. 63) Globalization is an international regime in which the economic interests of multinational corporations and other nonstate actors (IMF and the WTO) are coming to supersede the interests and power of individual states” (p.63). The book states that the power has shifted from nations (empires) to multinational institutions…… What do you think?
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Globalization What is Globalization ??? Globalization is creating two types of people cut across national boundaries, divided into the “fast” and the “slow” according to Riccardo Petrella, a futurist for the European Union. Due to the access to computer-based information and communications techologies. Colin Leys defines new international regime as a world: Dominated by multinational corporations. Regulated by the International Monetary funds Enforced by the military might of the United States.
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Globalization: Colonial Period During the colonial period, trading was controlled by the colonial powers. Trading occurred ONLY from Seville to the new world ports. The colonial period established the foundation of globalization by establishing transatlantic trade. Mercantile System : Trade flowed between designated ports by Spanish vessels. Trading between colonies was discouraged. Maintained trading surplus (one way street). L.A. independence dissolved this agreement. Trading relied on the extraction of natural resources (silver and gold) from the colonies. Old (Britain) and new (US) colonial powers wanted to capitalize on the new countries independence.
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Britain: Britain wanted the new countries open to trade, while the U.S. wanted to avoid competition in the Western Hemisphere. In 1825 Britain recognized Argentina—the first independent Lain American republic to be recognized by an European power. A commerce between two nations followed. Britain’s strategy to gain an edge was to: open consulates, promote trade, protect the interests of Britain nationals working in Latin America. Globalization: Colonial Power
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What was happening in the USA in the 1800s? In 1819 Spain ceded Florida to the United States in the Adams-Onis treaty. In addition, the United States gave up its claim to Texas. The U.S. claimed the Oregon Territory and paid Spain $5 million. The treaty was not ratified until 1821.
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This note was uploaded on 04/07/2008 for the course ENES 102 taught by Professor Biegel during the Fall '07 term at Maryland.

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GEOG130 Lecture16_Globalization - Economy/Globalization...

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