DOCSLIB.ORG

Anti-Globalization and Free Trade

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Anti-Globalization and Free Trade Anti-Globalization and Free Trade Ian Sheldon What is Globalization? Increasing world economic integration Trade, direct investment, financial flows, migration Not a new phenomenon 2 2003 Policy & Outlook Program Globalization not new World Bank (2002) 3 2003 Policy & Outlook Program Current Phase Different Some developing countries globalizing (e.g. China) Lower trade barriers, better investment climate, better transportation Some developing countries marginalized (e.g. Africa) Infrastructure, education, corruption, trade barriers, and location 4 2003 Policy & Outlook Program Developing Country Trade World Bank (2002) 5 2003 Policy & Outlook Program Impact of Trade Consumer purchasing power increases Unskilled workers in emerging countries gain Unskilled workers in rich countries lose Correlation between growth rates and trade 6 2003 Policy & Outlook Program Trade and Growth? “The Economist” (2002) World Bank (2002) 7 2003 Policy & Outlook Program Anti-Globalization Protests Protests at IMF and WTO meetings very common Broad coalition – trade unions, NGOs, charities, etc. Why protest if there is growth and poverty alleviation? 8 2003 Policy & Outlook Program IMF and WTO under fire “The Economist” (2001) 9 2003 Policy & Outlook Program Concerns over Globalization Multinationals Financial Instability Labor Environment “The Economist” (2002) 10 2003 Policy & Outlook Program Multinationals Increase in investment by multinationals Can “crowd out” local firms, but more productive Generate technology transfer and spillovers Global firms beyond government regulation 11 2003 Policy & Outlook Program Financial Instability Financial integration accompanied by crises Short-term capital flight leading to recession Due to weak financial institutions, bubbles, speculative attacks and “contagion” Requires caution when liberalizing financial markets 12 2003 Policy & Outlook Program Labor Activists seek trade sanctions against child labor Child labor levels highly correlated with poverty Well-intentioned policies can “backfire” Developing countries believe enforcing labor standards through WTO is new form of protectionism 13 2003 Policy & Outlook Program Environment Evidence that environment worsens and then improves with growth is inconclusive Concerns about “race to bottom” and pollution “havens” Little evidence emerging economies deliberately lowering environmental standards to attract investment WTO/GATT appears unsympathetic to environment 14 2003 Policy & Outlook Program Stop Globalization? Reversing globalization may consign some countries to continued poverty There are legitimate concerns about process “We cannot go back on globalization; it is here to stay. The issue is how can we make it work.” (Stiglitz, 2002) 15 2003 Policy & Outlook Program Future for Globalization Need for WTO “development” round Requires social protection policies for “losers” Address global environmental issues “globally” Debt forgiveness to poorest developing countries Greater transparency of international institutions 16 2003 Policy & Outlook Program Gains from Trade Forecast Annual Gains (US $ billion) Benefiting Liberalizing Agriculture Total Region Region Developing Rich 11.6 43.0 Countries Developing 31.4 65.1 Total 43.0 108.1 “The Economist” (2002) Rich Rich 110.5 96.7 Countries Developing 11.2 49.6 Total 121.7 146.3 All Rich 122.1 139.7 Countries Developing 42.6 114.7 Total 164.7 139.7 Source: World Bank (2002) 17 2003 Policy & Outlook Program Ian Sheldon (614) 292-2194 [email protected] 18 2003 Policy & Outlook Program .
Load more

Recommended publications
  • The Oppressive Pressures of Globalization and Neoliberalism on Mexican Maquiladora Garment Workers
    Pursuit - The Journal of Undergraduate Research at The University of Tennessee Volume 9 Issue 1 Article 7 July 2019 The Oppressive Pressures of Globalization and Neoliberalism on Mexican Maquiladora Garment Workers Jenna Demeter The University of Tennessee, Knoxville, [email protected] Follow this and additional works at: https://trace.tennessee.edu/pursuit Part of the Business Administration, Management, and Operations Commons, Business Law, Public Responsibility, and Ethics Commons, Economic History Commons, Gender and Sexuality Commons, Growth and Development Commons, Income Distribution Commons, Industrial Organization Commons, Inequality and Stratification Commons, International and Comparative Labor Relations Commons, International Economics Commons, International Relations Commons, International Trade Law Commons, Labor and Employment Law Commons, Labor Economics Commons, Latin American Studies Commons, Law and Economics Commons, Macroeconomics Commons, Political Economy Commons, Politics and Social Change Commons, Public Economics Commons, Regional Economics Commons, Rural Sociology Commons, Unions Commons, and the Work, Economy and Organizations Commons Recommended Citation Demeter, Jenna (2019) "The Oppressive Pressures of Globalization and Neoliberalism on Mexican Maquiladora Garment Workers," Pursuit - The Journal of Undergraduate Research at The University of Tennessee: Vol. 9 : Iss. 1 , Article 7. Available at: https://trace.tennessee.edu/pursuit/vol9/iss1/7 This Article is brought to you for free and open access by
    [Show full text]
  • Globalization: What Did We Miss?
    Globalization: What Did We Miss? Paul Krugman March 2018 Concerns about possible adverse effects from globalization aren’t new. In particular, as U.S. income inequality began rising in the 1980s, many commentators were quick to link this new phenomenon to another new phenomenon: the rise of manufactured exports from a group of newly industrializing economies. Economists – trade economists, anyway – took these concerns seriously. After all, standard models of international trade do say that trade can have large effects on income distribution: the famous 1941 Stolper-Samuelson analysis of a two-good, two-factor economy showed how trading with a labor-abundant economy can reduce real wages, even if national income grows. There was every reason to believe that the same principle applied to the emergence of trade with low-wage economies exporting not raw materials but manufactured goods. And so during the 1990s a number of economists, myself included (Krugman 1995), tried to assess the role of Stolper-Samuelson-type effects in rising inequality. Inevitably given the standard framework, such analyses did in fact find some depressing effect of growing trade on the wages of less-educated workers in advanced countries. As a quantitative matter, however, they generally suggested that the effect was relatively modest, and not the central factor in the widening income gap. Meanwhile, the political salience of globalization seemed to decline as other issues came to the fore. So academic interest in the possible adverse effects of trade, while it never went away, waned. 1 In the past few years, however, worries about globalization have shot back to the top of the agenda, partly due to new research, partly due to the political shocks of Brexit and Trump.
    [Show full text]
  • Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line?
    Chicago-Kent Journal of International and Comparative Law Volume 14 Issue 2 Article 1 1-1-2014 Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line? Linda L. Barkacs Craig B. Barkacs Follow this and additional works at: https://scholarship.kentlaw.iit.edu/ckjicl Part of the Law Commons Recommended Citation Linda L. Barkacs & Craig B. Barkacs, Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line?, 14 Chi.-Kent J. Int'l & Comp. Law 1 (2014). Available at: https://scholarship.kentlaw.iit.edu/ckjicl/vol14/iss2/1 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent Journal of International and Comparative Law by an authorized editor of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected], [email protected]. Article Fair Trade in a Wal-Mart World: What Does Globalization Portend for the Triple Bottom Line? Linda L. Barkacs* & Craig B. Barkacs** Abstract Globalization is characterized by such business practices as aggressive outsourcing, ultra-efficient logistics, and the relentless pursuit of cheap labor. Conversely, “fair trade” is an economic and social movement that works through private enforcement mechanisms to ensure that transnational supply chains do not exploit human and social rights.1 Accordingly, fair trade practices are very much in accord with the well-known “triple bottom line” goals of looking out for people, planet, and profits.
    [Show full text]
  • Social Life of Things: Globalization & Fair Trade
    Social Life of Things: Globalization & Fair Trade DR. BALMURLI NATRAJAN PRESENTATION AT RAMAPO COLLEGE, NJ OCTOBER 26, 2018 The Globe in our Hand…? https://www.youtube.com/watch?v=sBCHcnvwfzA (42 s) 1. Globalization is latest phase of Capitalism 1. FLOWS 2. CONNECTIONS 3. INEQUALITY Globalization: Flows 2-minute 1-slide view of Capitalism and Gobalization Colonialism, Slavery ---------- Decolonial Wars ----------- Neocolonialism--------------Neoliberal Globalization Industrialist capitalists Fordism / Assembly MNCs on Rise Line Investment Bretton Woods bankers / Banks for monopoly Institutions Global capitalists / Free Crisis & finance Trade doctrines World Wars Merchant capitalists 1400 – 1770s 1770 - 1870 1850s 1900s 1914-1950s 1970s - present Globalization As Flows capital higher volume images/ideas Longer distance flows more freedom goods/services More volatile flows greater speed technology/ Highly uneven flows knowledge people Globalization: Connections Coffee: Bean to Cup Fries: Potato to Plate Globalization: Inequalities Also: World Institute of Development Economics and Research (WIDER) report http://www.wider.unu.edu/publications/working-papers/research-papers/2007/en_GB/rp2007-01/ Income growth over time for Fractiles, USA http://www.epi.org/publication/pay-corporate-executives-financial-professionals/ https://blogs.worldbank.org/publicsphere/world-s-top-100-economies-31-countries-69-corporations CEOs and the average worker pay, USA 2. Capitalism Mystifies Itself 1. PRODUCER/CONSUMER 2. PROFITS 3. FREEDOM PRODUCERS CONSUMERS D I V I D I N G W A L L “…a definite social relation between men [sic], that assumes, in their eyes, the fantastic form of a relation between things” Karl Marx, Capital v 1. ch 1, section 4 D e m y s t i f i c a t i o n http://www.theyesmen.org/ https://antiadvertisingagency.com/ 3.
    [Show full text]
  • Globalization and Varieties of Capitalism: Lessons for Latin America
    Robert Schuman Globalization and Varieties of Capitalism: Lessons for Latin America Sebastián Royo Jean Monnet/Robert Schuman Paper Series Vol. 8 No. 18 September 2008 Published with the support of the EU Commission. The Jean Monnet/Robert Schuman Paper Series The Jean Monnet/Robert Schuman Paper Series is produced by the Jean Monnet Chair of the University of Miami, in cooperation with the Miami-Florida European Union Center of Excellence, a partnership with Florida International University (FIU). These monographic papers analyze ongoing developments within the European Union as well as recent trends which influence the EU’s relationship with the rest of the world. Broad themes include, but are not limited to: ♦ EU Enlargement ♦ The Evolution of the Constitutional Process ♦ The EU as a Global Player ♦ Comparative Regionalisms ♦ The Trans-Atlantic Agenda ♦ EU-Latin American Relations ♦ Economic issues ♦ Governance ♦ The EU and its Citizens ♦ EU Law As the process of European integration evolves further, the Jean Monnet/Robert Schuman Papers is intended to provide current analyses on a wide range of issues relevant to the EU. The overall purpose of the monographic papers is to contribute to a better understanding of the unique nature of the EU and the significance of its role in the world. Miami - Florida European Union Center Jean Monnet Chair Staff University of Miami Joaquín Roy (Director) 1000 Memorial Drive Astrid Boening (Associate Director) 101 Ferré Building María Lorca (Associate Editor) Coral Gables, FL 33124-2231 Phone: 305-284-3266
    [Show full text]
  • World Investment Report 2019 Special Economic Zones IUre IV IstRical Trend in Sezs MErs O CoNtries An Sezs
    CHAPTER IV SPECIAL ECONOMIC ZONES INTRODUCTION Special economic zones (SEZs) – geographically delimited areas within which governments facilitate industrial activity through fiscal and regulatory incentives and infrastructure support – are widely used across most developing and many developed economies. Although the performance of many zones remains below expectations, failing either to attract significant investment or to generate economic impact beyond their confines, new zones continue to be developed, as governments increasingly compete for internationally mobile industrial activity. Policymakers face not only the traditional challenges of making SEZs succeed, including the need for adequate strategic focus, regulatory and governance models, and investment promotion tools, but also new challenges brought about by the sustainable development imperative, the new industrial revolution and changing patterns of international production. SEZs go by many names and come in many varieties and sizes. They have in common that, within a defined perimeter, they provide a regulatory regime for businesses and investors distinct from what normally applies in the broader national or subnational economy where they are established. The most common types of SEZs are variations on free zones, which are essentially separate customs territories. In addition to relief from customs duties and tariffs, most zones also offer fiscal incentives; business-friendly regulations with respect to land access, permits and licenses, or employment rules; and administrative streamlining and facilitation. Infrastructure support is another important feature, especially in developing countries where basic infrastructure for business outside these zones can be poor. In return for these customs, fiscal and regulatory concessions; business-support measures; and investments in physical infrastructure, governments expect investors operating in SEZs to create jobs, boost exports, diversify the economy and build productive capacity.
    [Show full text]
  • Globalization for Whom?
    F O R U M GlobalizationGlobalization forfor Whom?Whom? Globalization has brought little than under communism. East Asian but good news to those with the products, economies such as South Korea, Thai- skills, and resources to market worldwide. land, and Malaysia, which had been But does it also work for the world’s poor? hailed previously as “miracles,” were dealt a That is the central question around which humiliating blow in the financial crisis of the debate over globalization—in essence, Time to change 1997. That this was also the decade in which free trade and free flows of capital—revolves. globalization came into full swing is more Antiglobalization protesters may have had the rules—and focus than a minor inconvenience for its advo- only limited success in blocking world trade cates. If globalization is such a boon for negotiations or disrupting the meetings of on poor workers poor countries, why so many setbacks? the International Monetary Fund (IMF), but Globalizers deploy two counter-argu- they have irrevocably altered the terms of ments against such complaints. One is that the debate. Poverty is now the defining issue by DANI RODRIK global poverty has actually decreased. The for both sides. The captains of the world reason is simple: while most countries have economy have conceded that progress in in- seen lower income growth, the world’s ternational trade and finance has to be measured against the yard- two largest countries, China and India, have had the opposite ex- sticks of poverty alleviation and sustainable development. perience. (Economic growth tends to be highly correlated with For most of the world’s developing countries, the 1990s were a poverty reduction.) China’s growth since the late 1970s—averag- decade of frustration and disappointment.
    [Show full text]
  • UNDERSTANDING GLOBAL CAPITALISM with Dr
    THE DEVELOPMENT ROUNDTABLE SERIES PRESENTS UNDERSTANDING GLOBAL CAPITALISM with Dr. William Robinson, Professor of Sociology, University of California in Santa Barbara ABOUT DR WILLIAM ROBINSON William Robinson is professor of sociology at the University of California, Santa Barbara. He is also affiliated with the January 25, 2008 Latin America and Iberian Studies Program, and with the Global and International Studies Program at UCSB. His main research interests lie in the field of macro and comparative sociology; globalization; political economy; development; social change; political sociology; Latin America and the Third World. Dr. William Robinson: sponsors of my trip, Focus, two weeks or so. I know a Good evening to and the Focus members that number of you have been to everyone, it’s a pleasure to be are present here. I am terribly some of those lectures, and here. This is actually the last grateful for this opportunity. others I’m seeing for the first of my engagements in the What I want to do this time. We have a little bit of Philippines since I leave in 48 afternoon is give a brief time tonight. We’ll have 2 hours. So I want to take summation of the arguments discussants so I’m just going advantage, before I start, to and analysis that I have been to jump in to this in outline just thank once again the putting forward these past form. globalization as epochal change in world capitalism I have been arguing that means of destruction have humanity? That’s what I we are facing a global crisis; never been greater.
    [Show full text]
  • The Principles of Embedded Liberalism: Social Legitimacy and Global Capitalism Rawi Abdelal and John G
    chapter 7 The Principles of Embedded Liberalism: Social Legitimacy and Global Capitalism Rawi Abdelal and John G. Ruggie In this essay we revisit the principles of “embedded liberalism” and argue for their relevance to the contemporary global economy. The most essential principle is the need for markets to enjoy social legitimacy, because their politi- cal sustainability ultimately depends on it. From this principle we analyze three current sets of practices and institutions in which ongoing crises of legitimacy demonstrate the need for a renewal of embedded liberalism and a revitalization of global governance. They are: the activities of transnational corporations, particularly with regard to core standards in labor and human rights; the orga- nization of the international financial architecture; and the formal rules and informal norms of international organizations. Learning the Lessons of Embedded Liberalism The post-1945 world economy embodied a social bargain. In the aftermath of the political and economic chaos of 1920s, the Great Depression of the 1930s, and the Second World War—all of which together shattered the world order within the span of a single generation—policymakers sought to reorganize and rebuild the world economy by restoring open markets, promising to mitigate their adverse social consequences and thereby preempting societal demands, from both left and right, to replace markets altogether. The failure to strike such a compromise earlier had undermined international cooperation in trade and macroeconomic policy during the 1920s and 1930s, just as it had caused the collapse of the first era of globalization, circa 1870 to 1914. Influential scholars and policymakers began to make sense of how that first era of globalization had lost its way.
    [Show full text]
  • China's Special Economic Zones And
    China’s Special Economic Zones and Industrial Clusters: Success and Challenges Douglas Zhihua Zeng © 2012 Lincoln Institute of Land Policy Lincoln Institute of Land Policy Working Paper The findings and conclusions of this Working Paper reflect the views of the author(s) and have not been subject to a detailed review by the staff of the Lincoln Institute of Land Policy. Contact the Lincoln Institute with questions or requests for permission to reprint this paper. [email protected] Lincoln Institute Product Code: WP13DZ1 Abstract In the past 30 years, China has achieved phenomenal economic growth, an unprecedented development “miracle” in human history. How did China achieve this rapid growth? What have been its key drivers? And, most important, can China sustain the incredible success? While policy makers, business people, and scholars continue to debate these topics, one thing is clear: the numerous special economic zones and industrial clusters that emerged after the country’s reforms are without doubt two important engines of China’s remarkable development. The special economic zones and industrial clusters have made crucial contributions to China’s economic success. Foremost, the special economic zones (especially the first several) successfully tested the market economy and new institutions and became role models for the rest of the country to follow. Together with the numerous industrial clusters, the special economic zones have contributed significantly to gross domestic product, employment, exports, and attraction of foreign investment. The special economic zones have also played important roles in bringing new technologies to China and in adopting modern management practices. However, after 30 years’ development, they also face many significant challenges in moving forward.
    [Show full text]
  • Special Economic Zones Public Disclosure Authorized Progress, Emerging Challenges, and Future Directions
    Public Disclosure Authorized Public Disclosure Authorized DIRECTIONS IN DEVELOPMENT Trade Special Economic Zones Public Disclosure Authorized Progress, Emerging Challenges, and Future Directions Thomas Farole, Gokhan Akinci Editors Public Disclosure Authorized Special Economic Zones Special Economic Zones Progress, Emerging Challenges, and Future Directions Edited by Thomas Farole Gokhan Akinci International Trade Department Investment Climate Department World Bank World Bank © 2011 The International Bank for Reconstruction and Development/The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org All rights reserved 1 2 3 4 14 13 12 11 This volume is a product of the staff of the International Bank for Reconstruction and Development / The World Bank. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development / The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com.
    [Show full text]
  • [Westernization in Sub-Saharan Africa] Facing Loss of Culture, Knowlege and Environment
    [westernization in sub-saharan africa] facing loss of culture, knowlege and environment ii APPROVAL of a thesis submitted by Meghan Marie Scott This thesis has been read by each member of the thesis committee and has been found to be satisfactory regarding content, English usage, format, citations, bibliographic style, and consistency, and is ready for submission to the Division of Graduate Education. Chair of Committee Ralph Johnson Approved for the Department of Architecture John Brittingham Approved for the Division of Graduate Education Carl A. Fox iv TABLE OF CONTENTS 1. INTRODUCTION..................................................................................... .. 5 2. TRADITION AND HISTORY....................................................................... 13 AIDS........................................................................................................... 14 History of Architecture ............................................................................... 19 Sukuma Culture.......................................................................................... 28 3. PROJECT INFORMATION........................................................................ 33 Mavuno Village Information......................................................................... 35 4. SUSTAINABILITY....................................................................................... 39 Introduction................................................................................................ 40 Nature........................................................................................................
    [Show full text]