ADM 2341 Lecture Notes - Lecture 11: Westphalian Sovereignty, Job Security, World Trade Organization
9 Mar 2016
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Document Summary
Become aware of changing trade paterns, lows of foreign direct investment and the increasing importance of mulinaional corporaions. The core/principal advantages of globalizaion: consumer prices and choice, returns to capital, payof to innovaions. Diagram 1: schema of globalizaion capturing all essenial components of globalizaion and how it impacts on a country (canada). Telescopes the world of internaional trade and business in one page. Imf: wto, world bank (p. 9: inaccurate, u. n. G20: mixture of developed and developing countries. Imbalances and their resoluion: misaligned currencies, trade deicits, trade surpluses, iscal debt. Golden era of globalizaion over the centuries. Dark period of de-globalizaion (ww1; great depression) Always winners and loser from trade, need to respond to losers . Some very serious concerns, e. g. : massive long lasing trade imbalances (e. g. Some very serious concerns, e. g. : massive long lasing trade imbalances (e. g. : china and usa) Recession and the rise of protecionism, skirmish over trade.
