GLBL ST 1 Lecture Notes - Lecture 6: Ferrero Spa, World Economy, Nutella
Document Summary
Key concepts: uneven development, international (gendered, racialized) spatial division of labor, functional integration of production, differential mobilities, interdependent economic relations leading to interdependent social relations. New technologies/transportation/communication: it speeds up the pace of trade and finance (faster production, distribution and consumption) higher profits when they accelerate their production. While trade was significant before, it was mainly trade of raw materials for production or manufactured products now we have mnc"s where the production itself is split into multiple countries. : nutella production involves france (vanilla), turkey (hazelnut), nigeria (cacao), Profits from financial flows has increased: e. g. macy"s now giving out their own credit card, new avenue to make money. Debt has increased over time, rising debt era. Us bonds are considered a safe investment china owns a large majority of us debt: a lot of global south countries take loans in usd, under the us law. Us has the highest immigration level as of 2017.
