In this Assignment I have gone through the detailed of how de - globalization is taking place in this 21 century where most of the student are talking about globalization. this is the another part of the picture, we have focused about de - globalization.
Examines the phenomenon as well its impacts and possible ways of moving forward. Used for my presentation to Parliamentarians and invited guests in Bucharest, Romania, in the wonderful Palace of the Parliament in October 2015. There was a good discussion!
The Trading System: Debate over Free Trade – Functions of GATT and WTO, The Uruguay Round and World
Trade Organization, Trade Blocs – EU, OECD, OPEC, SAARC, ASEAN, NAFTA, Threats to Open Trading System,
Developments in International Trade Theory, Bi-lateral, Multilateral Trade Agreements, Impact of Trade wars in
liberalized economy
Examines the phenomenon as well its impacts and possible ways of moving forward. Used for my presentation to Parliamentarians and invited guests in Bucharest, Romania, in the wonderful Palace of the Parliament in October 2015. There was a good discussion!
The Trading System: Debate over Free Trade – Functions of GATT and WTO, The Uruguay Round and World
Trade Organization, Trade Blocs – EU, OECD, OPEC, SAARC, ASEAN, NAFTA, Threats to Open Trading System,
Developments in International Trade Theory, Bi-lateral, Multilateral Trade Agreements, Impact of Trade wars in
liberalized economy
China as an opportunity and a Challenge
Chinese manipulation of trade regulations: Implications for Businesses in Other Countries
India\'s Option to deal with Chinese manipulation of Trade regulations
Trade policies in developing countries have been central to the analysis of international development economists over the past decades. The desire for rapid economic growth in developing countries has raised many questions about the relationship between trade and growth. This PPT examines the fact that the policies adopted in many developing countries have often been very different from those emanating from rational allocation models and have provided researchers/ students with a wide scope for analyzing their effects.
China as an opportunity and a Challenge
Chinese manipulation of trade regulations: Implications for Businesses in Other Countries
India\'s Option to deal with Chinese manipulation of Trade regulations
Trade policies in developing countries have been central to the analysis of international development economists over the past decades. The desire for rapid economic growth in developing countries has raised many questions about the relationship between trade and growth. This PPT examines the fact that the policies adopted in many developing countries have often been very different from those emanating from rational allocation models and have provided researchers/ students with a wide scope for analyzing their effects.
Following a period of strong growth across all developing regions during the first decade of the millennium and a rapid rebound from the 2008 financial crisis, a combination of falling commodity prices, increasing financial market volatility and weak global demand has negatively affected growth performance in recent years. This growth slowdown has exposed the absence of structural transformation in many developing countries even under robust growth conditions. As a result, increasing attention has turned to the trade and industrialization opportunities offered by participation in global value chains (GVCs).
Fiduciary or paper money is issued by the Central Bank on the basis of
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inflation rate), full employment, and growth in aggregate income.
- The worldwide movement toward economic, financial, trade, and communications integration.
Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately
Upload a presentation to download
Towards the Hispanization of the Natives challenged us to do our part for women’s freedom and integrity. Chorus
Serve with courage and dignity to those wounded in spirit and body. Her discernin
The article illustrates the results of the economic development of the first fifteen years of the XXI century under the conditions of unprecedented economic freedom, globalization and the appearance of new informational sectors up to and including the first attempts at revising liberalism. The analysis of statistical data demonstrates an obvious increase in the percentage of well-off people in many countries as well as the increased economic capabilities of small, medium and large businesses, whose assets are distributed among an ever-increasing number of owners. This provides the impetus to review our collective approach to liberalization and globalization, as well as to view its unexpected strong sides that make human progress possible.
What Is Global Economy and Its Importance.pdfAiblogtech
What Is Global Economy and Its Importance? A Quick Overview
The term "global economy" is frequently used in discussions, news reports, and political speeches. But what exactly is the global economy, and why is it so crucial to our lives? In this article, we will delve into the global economy's nuts and bolts in simple and understandable language, exploring its various facets and emphasizing its profound significance.
Understanding the Global Economy
Defining the Global Economy
The global economy, at its core, refers to the complex web of interconnected economic activities that take place around the world. It includes the global production, exchange, and consumption of goods and services. Everything from your smartphone to the coffee you drink in the morning has a global footprint. The global economy is analogous to a massive puzzle, with each piece representing a different country or region and all intricately interconnected.
The Building Blocks of the Global Economy
To understand the significance of the global economy, we must first break it down into its basic components:
1. International Trade: The exchange of goods and services between different countries is known as international trade. It provides nations with access to products that they cannot produce locally, promoting economic growth and diversity.
2. Global Finance: The flow of money, investments, and capital across borders is referred to as global finance. It helps businesses, governments, and individuals achieve their economic objectives.
3. Multinational Corporations: These are large corporations that have operations in several countries. They are important players in the global economy because they manufacture products in one country, sell them in another, and invest in various locations around the world.
4. Currency Exchange: Each country has its own currency. Exchange rates have an impact on international trade and financial transactions.
5. International Organizations: Organizations such as the World Trade Organization (WTO) and the International Monetary Fund (IMF) play an important role in regulating and facilitating global economic interactions.
6. Global Supply Chains: Products frequently go through a number of manufacturing and distribution stages in different countries. This linked network is known as a global supply chain.
Let's look at the global economy's significance now that we've dissected it.
The Significance of the Global Economy
Economic Growth and Prosperity
Economic growth is one of the most obvious benefits of a thriving global economy. Countries that engage in international trade have access to a larger consumer base. This leads to increased sales, higher profits, and a more prosperous economy in the long run. A strong global economy promotes job creation, higher living standards, and a higher quality of life for people all over the world.
Access to Diverse Goods and Services
Consider a world in which each country only produced what it required.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
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1. 1
UNIVERSITY OF LUCKNOW
DEPARTMENT OF BUSINESS
ADMINISTRATION
INTERNATIONAL TRADE & GEOPOLITICS
SUBMITTED BY: SUBMITTED TO:
DEEPAK KUMAR DR. AJAI PRAKASH
SEM-IV (IB)
ROLL NO - 17001000060
2. 2
Acknowledgement
I would like to express my special thanks of gratitude to my teacher Dr.Ajai Prakash who
gave me the golden opportunity to do this wonderful project, which helped me in doing a lot
of research and I came to know about so many new things I am really thankful to them.
Secondly, I would also like to thank my parents and friends who helped me a lot in finalizing
this project within the limited time frame.
DEEPAK KUMAR
3. 3
De- Globalization: An Introduction
Globalization refers to the economic, social, and political integration of nations. Economic
globalization can be seen in the exchange of goods. It can also be seen in the rising
movement of people and capital around the world.
However, Globalization is under attack these days from all quarters. It is becausethe race of
globalization has left majority of the world's population far behind. According to UNICEF,
the richest 20 per cent of the population gets 83 per cent of global income, while the poorest
quintile has just 1 per cent. This trend is getting worse. A new UNDP report called
"Humanity Divided" estimates that 75 per cent of the population lives in societies where
income distribution is less equal now than it was in the 1990s, although global GDP
ballooned from $22 trillion to $72 trillion.
Also the fundamental challenge posed bythe increasing reach of global markets is that
global markets are inherently dis-equalizing, making rising inequality in developing
countries more rather than less likely. This is due to following reasons:
First, the tremendous economic gains associated with deeper and more efficient global
markets are not equally shared. Markets, after all, reward those who have the right assets -
financial capital, human capital, entrepreneurial skills.
A second reason why globalization is dis-equalizing is that global markets are far from
perfect. They fail in many domains. The classic example of a market failure is that of
pollution, where the polluter captures the benefits of polluting without paying the full costs.
At the global level, high greenhouse gas emissions of the US are imposing costs on poor
countries. Similarly with global financial crises; the financial crisis was due to policy errors
in few countries. But a healthy portion can be blamed on the panic that periodically plagues
all financial markets.
Finally, global markets tend to be dis-equalizing because trade, migration, and intellectual
property regimes at the global level naturally reflect the greater market power of the rich.
In developing countries inequality is economically destructive; it interacts with
underdeveloped markets and ineffective government programs to slow growth - which in
turn slows progress in reducing poverty. Economic theory suggests why: weak credit
markets and inadequate public education mean only the rich can exploit investment
opportunities. Middle income and poorhouseholds cannot borrowand miss out on
potentially high returns on their own farms and small business ventures for example - often
higher returns than the rich are getting on their capital. The most able children of the less rich
miss out on the education and skills that would maximize their own economic prospectsand
their countries' own growth.
4. 4
Due to this, the trend has started to reverse to deglobalization. Several prominent countries
including the UK resisted globalization by rising tariffs. Far-right parties in Europe gained
popularity in this atmosphere of financial weakness and supporting deglobalisation.
What are the indicators of de - Globalization?
Apart from rise of right wing parties across globe, which is political manifestation of de-
globalization, economic indicators show that post2008 economic slowdown de-globalization
is becoming the norm.
Trade:With global demand weak, and many nations erecting import barriers, trade is
slumping. Measured as a share of global gross domestic product, trade doubled from 30
percent in 1973 to a high of 60 percent in 2008. But it faltered during the crisis and has since
dropped to 55 percent.
The flow of capital - mainly bank loans - is retreating even faster. Frozen by the financial
crisis and squeezed afterward by new regulations, capital flows have since slumped to just
under 2 percent of G.D.P. from a peak of 16 percent in 2007.
The flow of people - Despite the flood of refugees into Europe, net migration from poorto
rich countries decreased to 12 million between 2011 and 2015, down by four million from
the previous five years.
What are the Reasons forthis new Trend?
There are several reasons behind this trend today. Some of them are:
Unequal distribution of benefits of globalization, rising inequalities, job especially in
developed countries.
MNCs across the countries and workers from developing countries benefited the most
leading to perception that workers from developing countries have stolen jobs from
developed countries. This led to demands of sticker visa regime and relocated of
industries.
Global slowdown exacerbated the above mentioned situation and led to increase in
demand for protectionist measures across globe.
Rise of ISIS, increased instances of terrorist attacks and emerging security threats
across globe. Immigration crisis further accentuated the security situation and as it is
happening at the time of economic slowdown thus leading to anti - immigration stand.
Rise of populist leaders globally re – enforces the trend.
5. 5
Concept of De – Globalization
According to Walden Bello and Focus on the Global South, who coined the term
"deglobalisation", the objective is not to withdraw from the global economy, but rather to
trigger a process ofrestructuring the world economic and political system so as to strengthen
local and national economies instead of weakening them.
De-globalisation questions the integration process dominated by the logic of capital and the
supposed rationality of the economy that erodes the decision-making capacity of the people
and States. Deglobalising means starting to think and build an integration process based on
the needs of peoples, nations, communities and ecosystems.
Deglobalisation does not opposetrade nor the exchange of products or services, but proposes
that trade is not done at the expense of the communities, the local and national economies
and the diversity of its products whether agricultural or industrial.
The one size fit all policy of structural adjustment programs pushing countries to only remain
producers of particular cash crops or goods, destroys that country's ability to satisfy people's
needs, diversify and more importantly, be self-reliant in its ability to feed its people.
Deglobalisation embraces the principle of subsidiarity that affirms that all political or
economic decisions must be adopted by the level of government that is closest to the
problem. The ones who know the most about the local situation and will be the first to suffer
the consequences of a decision must be the first to give their opinion and state their position.
A political or economic decision that affects a local area must fundamentally be made at this
level and only when it is truly necessary should this decision-making power be transferred to
the national, regional or global level.
Currently, trade rules cannot be the same for all countries. Trade and investment rules must
be asymmetrical so as to favour the smallest economies and countries whose economies and
agricultural sectorwere weakened by transnational capital, colonialism and the
interventionism of the superpowers. Trade policies - such as quotas, tariffs and subsidies -
must be used to protect local economies from imported goods subsidised by large
corporations that set prices at artificially low rates.
6. 6
Why we need De – globalization
Weakness of International Governance Structure.
A General Trend of of Reducing Trust between people, between people and leaders,
and between people and institutions.
The impact of the crisis.
Increasing Environmental Threats & Economic and Social Inequalities.
Principles of De-globalization by Walden Bello
Production for the domestic market rather than production for export markets must
again become the center of gravity of the economy.
The principle of subsidiarity should be enshrined in economic life by encouraging
production of goods at the level of the community and at the national level if this can
be done at reasonable costin order to preserve community.
Trade policy - that is, quotas and tariffs - should be used to protect the local economy
from destruction by corporate-subsidized commodities with artificially low prices.
Industrial policy - including subsidies, tariffs, and trade - should be used to revitalize
and strengthen the manufacturing sector.
Long-postponed measures of equitable income redistribution and land redistribution
(including urban land reform) must be implemented to create a vibrant internal market
that would serve as the anchor of the economy and producelocal financial resources
for investment.
De-emphasizing growth, emphasizing upgrading the quality of life, and maximizing
equity will reduce environmental disequilibrium.
The power and transportation systems must be transformed into decentralized systems
based on renewable sources.
7. 7
A healthy balance must be maintained between the country's carrying capacity and the
size of its population.
Environmentally congenial technology must be developed and diffused in both
agriculture and industry.
A gender lens must be applied in all areas of economic decision making so as to
ensure gender equity.
Strategic economic decisions must not be left to the market or to technocrats. Instead,
the scopeof democratic decision-making in the economy should be expanded so that
all vital economic issues - such as which industries to develop or phase out, what
proportion of the government budget to devote to agriculture, etc. - becomesubject to
democratic discussionand choice. This will entail the demystification of economics
and a return to its origins as political economy and moral economy.
Civil society must constantly monitor and supervise the private sectorand the state, a
process that should be institutionalized.
The property complex should be transformed into a "mixed economy" that includes
community cooperatives, private enterprises, and state enterprises, and excludes
transnational corporations.
Centralized global institutions like the IMF and the World Bank should be replaced
with regional institutions built not on free trade and capital mobility but on principles
of cooperation that, to use the words of Hugo Chavez in describing the Bolivarian
Alternative for the Peoples of Our Americas (ALBA), "transcend the logic of
capitalism."
Bibliography