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Globalization: Quo Vadis?

Globalization: Quo Vadis?. Lecture 20. History of Globalization. Globalized North Atlantic North America-U.K. and others Immigration patterns Movement of FDI Currency Matters Drop in transport costs Time Period: 1890’s to 1930 Why did it end: Depression and bad policy

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Globalization: Quo Vadis?

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  1. Globalization: Quo Vadis? Lecture 20

  2. History of Globalization • Globalized North Atlantic • North America-U.K. and others • Immigration patterns • Movement of FDI • Currency Matters • Drop in transport costs • Time Period: 1890’s to 1930 • Why did it end: Depression and bad policy • Halt Immigration, farm prices collapsed, Smoot Hawley tariff • Can it collapse again?

  3. Modern Globalization • How does it differ? • Institutions • WTO, IMF, World Bank • Interdependence • Capital flight • Equalization of Wages • Environmental Impacts • Propriety Rights over Technologies

  4. Evidence • Pro-side • Poverty Incidence • 1978-2000 • China poverty fell from 30% to 10% • India poverty incidence fell from 51% to 26% • Rise from Group of 8 to Group of 20 • More power in IMF and World Bank • Problems: • Child Labour, women, culture, wage and labourstandards,environment

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