GEOG 216 Lecture Notes - Lecture 2: Mercantilism, Free Trade, Commodity Market
20 Sep 2016
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Document Summary
Economic internationalization: extent to which national economies interact with one another through the exchange of goods and services. We must think about various indicators, about whether the world economy is developing or not. Focus on extension of economic activities across national boundaries (i. e. arm"s length) Quantitative approach to global integration (i. e. shallow integration) Economic globalization: involves more than simply increased international trade. Set of processes through which economic activities are increasingly interconnected: functional integration of production activities (mncs or tncs) i. e. global assembly lines, is global connection higher or more prevalent than it was 50 or 100 years ago, ex. Mccaines french fries potatoes from canada and france, oil from italy and. Emergence of new set of actors on global stage (institutions, agreements) Quantitative + qualitative changes that facilitate ( deeper") global integration. What we have witnessed over the past several years has changed so much. Emergence of new world order, decreased role of nation-state, borderless economy".
