The fact there are winners and losers, and societies vary in how much they compensate the losers Continuing poverty: ¼ world’s population below $1 a day; around ½ below $2 a day (has declined since article, mainly because of China and SE Asia and to some degree India) Gap between rich and poor countries has widened. And inequality within most countries has risen with globalization. Environmental concerns and conflict over global governance Open borders and their effects (money laundering, terrorism, disease, drugs, sex trafficking)
Discuss distinction between empirical and normative debates. Leaving out #3, because it is explicitly normative, which leaves five.
What is the basic argument that the film presents about India and about globalization?
How does the film interpret such things as India’s widespread poverty and its periodic flare-ups of ethnic and religious strife?
Why are India and China so important?
“ Globalization in its current phase has been described as an unprecedented compression of time and space reflected in the tremendous intensification of social, political, economic, and cultural interconnections and interdependencies on a global scale.” Stegler, p. ix
deterritorialization and supraterritoriality
One way to approach this: think about the world before globalization
Distance mattered—space often measured in time
Territorial boundaries more or less kept things in and out
Society and culture had spatial referents
Everything had its “place” (literally)
In a world of deterritorialization and supraterritoriality:
Distance becomes almost irrelevant (the end of distance)
Boundaries are increasingly permeable.
Groups and cultures increasingly don’t have a territorial basis
A new kind of non-physical “place” is emerging
Bosworth and Gordon: A survey of some key processes of globalization
Expansion of international commerce (exports and imports)
Rising importance of private capital flows (stock markets and multinational corporations)
Increasing travel and migration (international tourism and domestic diversity)
Increased communication and interaction between peoples (through all sorts of media)
Bosworth and Gordon also point to some of the key public controversies over globalization: What are they? “ Can globalization be harnessed so that all citizens and countries benefit and not just the lucky few?”
1. Is globalization Westernization? Is it a threat to non-western societies?
What is the right question to ask about globalization and the poor?
What are the “legitimate” questions that “anti-globalization” protestors ask?
Amartya Sen: How to Judge Globalization (Normatively)
“ Our global civilization is a world heritage... The idea of an immaculate Western conception is an imaginative fantasy.” “ Globalization has much to offer, but even as we defend it, we must also, without any contradiction, see the legitimacy of many questions that the antiglobalization protestors ask.” “ The world powers bear an awesome responsibility for helping in the subversion of democracy in Africa and ofr all the far-reaching negative consequences of that subversion.”
“ Over the past decade globalization has been driven by technological advances…..But globalization has also been driven by policies and ideas…” Bosworth & Gordon Next time: globalization as a neoliberal project
Performance of acquisitions Copyright NUS Business School 2008
We used an event study methodology
Sample - Indian companies had cross- border acquisitions during 2002-2006.
224 transactions: 127 different companies from 33 industries.
We used BSE-500 ( represents nearly 93% of the total market capitalization on Bombay Stock Exchange Limited) as the market index for the calculations.
Used the following formula to calculate the abnormal returns -
The CAR was calculated using the following formula -
α ^ β ^ AR it = R it - i - i R mt , (t = -7 to t= +7) CAR i = t = -7 t = +7 AR it