Global Economy PDF

Internal Use Global Economy Structures of Globalization Prof. Geoffrey Cruz Copyright © 2020 De La Salle-College of Saint Benilde. All rights reserve Internal U...

Internal Use Global Economy Structures of Globalization Prof. Geoffrey Cruz Copyright © 2020 De La Salle-College of Saint Benilde. All rights reserve Internal Use Economic Globalization “ The process of making the world economy an “organic system” by extending transnational economic processes and relations to more and more countries and by deepening the economic interdependency among them. Szentes (2003) “A dynamic process of global economic integration characterized by increasing freedom in the movement of labor, goods, This Photo by Unknown Author is licensed under CC BY-SA services, technology, and capital.” De la Dehesa (2000) Internal Use Is it a new phenomena? Has been ongoing ever since Homo Sapiens began migrating from African continent To populate the rest of the world Silk Road Thi s Photo by Unknown Author i s l icensed under CC BY Internal Use Photo courtesy of https://ifpnews.com/iran-ready-for-active-participation-in-chinas- Internal Use Already present during the Colonization Era.. Trade Monopolization Thi s Photo by Unknown Author i s l icensed under CC BY-SA-NC Internal Use Golden Age of Globalization Transport revolution Steamships Railroads Thi s Photo by Unknown Author i s l icensed under CC BY-SA Internal Use Globalization is like modern age capitalism Copyright © 2020 De La Salle-College of Saint Benilde. All rights reserveThi s Photo by Unknown Author i s l icensed under CC BY-NC-ND Internal Use The Global Economy Globalization Created investment opportunities Import and export market Generated jobs Expanded the market Migration Overseas contract worker It has the ability to foster universal economic growth and development Internal Use Illustration courtesy of https://www.chegg.com/learn/economics/introduction-to-economics/market-economy#disadvantages-of-a-market-economy Internal Use According to the World Bank… Globalization can indeed reduce poverty but it definitely does not benefit all nations Globalization can produce marginalization Remember, the Industrial Revolution… Intensified international relations and reinforced growth and development on an unprecedented level The rest of the world did not manage to cope up with the phasing Industrialization of the former led to the de-industrialization of the latter This Photo by Unknown Author is licensed under CC BY Internal Use Capitalism under globalization reinforced the structural patterns of unequal change ”Underdevelopment became the consequence of colonialism and imperialism.” (Wallerstein, 1983) Thi s Photo by Unknown Author i s l icensed under CC BY-SA Internal Use Illustration courtesy of https://www.thebalance.com/free-trade-agreement-pros-and-cons-3305845 Internal Use