Globalisation

Globalisation

Definition
1. set of interalated processes
  1. deeper international economic integration
    1. Gilplin (1997) increasing interdependance trade, finance, macroeconomic policy
  2. flattening process , technology
    1. Freidman level playing field
    2. Kobrin 1997 increasing technology scale and information flows
    3. Castells 1996 capacity to work as a unit in real time on a planatory scale
    4. Harvey, 1989 Mittelman, 1996 compression of space and time a shrinking of the world
Drivers
1. Political
  1. trade liberilisation
    1. opening up of soviet bloc
    2. Free Trade Areas
    3. WTO, WB etc
2. Economic liberalisation
  1. decline in barriers to trade
3. Technological Change
  1. Liscencing, franchising, intellectual property
4. Cost drivers
  1. Attention to developing countries
    1. BRICS
    2. Next 11
Is it really happening
1. Volume of trade is small reative to the size of most economies (Krugman 1994)
2. Multinationationals locate most assets and R&D activities in their home countries (Doremus, et al 1998)
3. Vast areas not affected,
  1. South & Central Asia
  2. Bulk of Africa
  3. Latin America
    1. Account for large amount of resources
4. Current global crisis and globalisation of media suggest otherwise
  1. Heightened our awareness in living in an increasingly connected world (Held et al 1999)
Global Culture
1. concept of global village (Mcluhan 1964)
2. world increasingly populated by cosmopolutan consumers (Levit 1983)
3. National culture and values change over time through path dependant not convergent ways (Inglehart and Baker (2000)
4. Global Language
Impacts
1. Internationalisation of markets and production
  1. competition reducing price
  2. offshoring and outsourcing
    1. increasing economies of scope
    2. less focus on plant economies more global
  3. extending product life cycle
2. Industry structure - Deindusrtiisation
3. Changes in labour demand
  1. job losses and gains
    1. structural unemployment
4. Economic dependancy
5. culture
6. allocative efficiency
Implications
1. inequality
  1. developing countries can't compete?
  2. displaced workers unable to find jobs
  3. causing political tensions
2. sustainable? environment
3. dominance of Triad
4. loss of national soveriegnty
5. need for global governance
  1. international problems = international rules

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