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Changing Economic Landscapes

Changing Economic Landscapes. Dr Maurice Mullard Lecture 8. Geography of Present Recession. What sort of Recession V Shape W Shape L shaped U shaped Comparison with Depression of 1929 Japan lost decade Recession in the post war. What are the Implications for Globalisation.

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Changing Economic Landscapes

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  1. Changing Economic Landscapes Dr Maurice Mullard Lecture 8

  2. Geography of Present Recession • What sort of Recession • V Shape • W Shape • L shaped • U shaped • Comparison with Depression of 1929 • Japan lost decade • Recession in the post war

  3. What are the Implications for Globalisation • Thesis that Globalisation after 1990 was defined by USA – liberalisation free trade free markets Washington Consensus • End of History thesis • Break of Soviet Union • Response of China • Beijing Consensus

  4. Does Recession means Reversals from Globalisation • Retreat into protectionism warnings of World Bank and IMF • Models Washington Consensus and Beijing Consensus • Beijing Model How is China dealing with Africa • Replace IMF in loans to Uganda • Still a forms of selling commodities oil basic metals

  5. Emergence of China • China now 2nd largest economy 4.4. trillion dollars forecast to surpass US Economy 2050 • India and China 40 per cent of World population • China workshop of the World low level technology cheap goods eventually move up production chain • Worries for EU and USA

  6. BRICS • Brazil Russia India China and future of global economy • More democratic in the sense that China and India have large populations • Dominance of the West 800 million in world population of 6.2 billion • Resources Populations as future large consumer markets • China dominance of East Asia

  7. The Retreat of the West • Dominance of the West last two hundred years • Dominance Resources technology • Hegemony monopoly in ways of thinking culture Enlightenment • Break up of Soviet Union • US ascendancy • Global GDP EU same GDP size as USA 18 trillion dollars • China 4.4 trillion

  8. Global Challenges • Food – changing diets India and China • Africa agriculture potential • Oil producers Middle East • Retreat of US Consumer • Export what and to who • Green Revolution a potential export industry • Failure of Doha Round

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