Lecture 6 Globalization

Lecture 6 Globalization - Lecture 6 International Economic...

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Lecture 6 International Economic System: Globalization and Its Implications I. What is globalization? Globalization: a process (or set of process) that embodies a transformation in the spatial organization of social relations and transactions , generating transcontinental or interregional flows and networks of activity, interaction, and power. “Picture yourself as a poor African farmer, scraping a living on a hectare or two. While you may not have heard of globalization, you are affected by it: you sell cotton, which will be woven into a shirt by a worker in Mauritius in a style designed by an Italian, to be worn by some well –off Parisian.” (Stiglitz) Question: Are globalization and internationalization the same? (check Abdelal and Segal) Internationalization : exchanges across borders (more prosaic) Globalization : involving also the transformation ideological process of breaking down barrriers Forms of Globalization 1. Economic globalization (i.e. marketization): the free worldwide flow of capital, goods, and labor market: A place where goods are offered for sale; the joining of buyers and sellers, producers and consumers and savers and investors (e.g., bazaar).
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This note was uploaded on 04/08/2008 for the course DIPL 1101 taught by Professor Huang during the Fall '07 term at Seton Hall.

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Lecture 6 Globalization - Lecture 6 International Economic...

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