POLI 227 Lecture 3: POLI 227-Globalization and the Developing World
4 Feb 2019
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Document Summary
Spread technology, media, culture, tourism have accelerate globalization. Globalization has political and economic aspects, as well as social and cultural ones. Multi national bodies like the united nations, european union, world trade. Organizations, can make decisions that states are forced to accept (weakens) States can also organize to help each other solve problems like human trafficking, drug smuggling, climate change (strengthens) Foreign direct investment (fdi) provides local jobs, strengthens local economies (strengthens) Free trade can flood local markets with cheaper goods, harming local businesses, farmers (weakens) Barriers (laws) that prevent fdi must be knocked down to attract imports. Walmart effects: you can buy cheaper goods to stretch your dollar, however walmart is known for undercutting local producers. Total fdi has greatly increased over the past 35 years. The number of people living in absolute poverty (living on 1. 25$ or less per day, according to the world bank) has declined rapidly over the last 30 years.
