BUS201 Lecture Notes - Lecture 2: Bloomberg Businessweek, Cultural Imperialism, Helena Rubinstein
15 Mar 2020
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Document Summary
The world is moving toward a more global economic system . Supporters believe that increased trade and cross-border investment mean lower prices for goods and services. Critics worry that globalization will cause job losses. Environmental degradation the cultural imperialism of global media and mnes. Critics argue that falling barriers to trade are destroying manufacturing jobs in advanced countries. Supporters contend that the benefits of this trend outweigh the costs: countries will specialize in what they do most efficiently and trade for other goods and all countries will benefit. What about we remove trade i. e. borders are closed to trade. People on high incomes lose 28% of purchasing power. Poorest 10% of people lose 63% of their spending power. Relatively worse off because they buy relatively more imported goods. European industry impacted by china (bloom, draca, & reenen, 2015) Imports from china forced firms to become more innovative, increasing r&d spending, patent creation and it.
