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Transcript of Ipe17
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Y376 International Y376 International Political EconomyPolitical Economy
November 5, 2009November 5, 2009
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Dissenting ViewsDissenting Views
• “Globalization at this point in time is far more about disparities between nations than the assimilation of a flat world.” Steven Roach, Chief Economist, Morgan Stanley
• “By any measure, the international economic landscape is not at all flat. On the contrary, our world is amazingly ‘spiky.’” Richard Florida, Professor, Carnegie Mellon University
Source: Ronald Aronica and Mtetwa Ramdoo, The World is Flat? ACritical Analysis of Thomas L. Friedman’s NY Times Bestseller, preface.
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Richard FloridaRichard Florida
• Professor at Carnegie Mellon Univ. in Pittsburgh
• Two major books:– The Rise of the
Creative Class– The Flight of the
Creative Class
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Spikiness in Economic Activity in the Spikiness in Economic Activity in the United StatesUnited States
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Spikiness in Economic Activity Spikiness in Economic Activity in Chinain China
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Spikiness in Scientific CitationsSpikiness in Scientific Citations
http://creativeclass.com/rfcgdb/articles/other-2005-The%20World%20is%20Spiky.pdf
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Defining GlobalizationDefining Globalization
Economic globalization is a “set of processes leading to the integration of economic activity in factor, intermediate, and final goods and services markets across geographical boundaries and the increased salience of cross-border value chains in international economic flows.”
Source: Introduction to Aseem Prakash and Jeffrey Hart,eds., Globalization and Governance (Routledge:1999)
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Value ChainValue Chain
• Concept invented by Michael Porter
• A value chain is more comprehensive than a supply chain because it extends backward to R&D and innovation and forward to commercialization
Michael PorterHarvard Business School
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Other Ways of Thinking about Other Ways of Thinking about GlobalizationGlobalization
• Deterritorialization, e.g. of– diasporic communities– MNCs– currencies
• Convergence– leading toward a universal “sameness”
• Mythology or FadSee, for example, Arjun Appadurai, Modernity at Large.
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Appadurai’s Cultural LandscapesAppadurai’s Cultural Landscapes
• Ethnoscapes
• Mediascapes
• Technoscapes
• Finanscapes
• Ideoscapes
“The suffix scape also allows us to point to the fluid, irregular shapes of these landscapes, shapes which characterize international capital as deeply as they do international clothing styles.”
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Deterritorialization of CurrenciesDeterritorialization of Currencies
• Dollarization– Russia (for a while)– Mexico (tesobonos)– Argentina– El Salvador– Panama
Blue and purple means tiedto the Euro; Green, yellow,tied to US dollar
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Diasporic CommunitiesDiasporic Communities
• any people or ethnic population forced or induced to leave their traditional homelands, the dispersal of such people, and the ensuing developments in their culture
• examples: Jews, Cubans, Chinese, Pakistanis, Indians, etc.
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Examples of Globalized CultureExamples of Globalized Culture
• Corporate logos
• Who Wants to be a Millionaire
• MTV
• World Music, e.g. Reggae or Ska
• Anime, Manga, Pokemon (J-pop)
• Disneyland, Disneyworld theme parks
• Action movies with little dialogue
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Will Territorial Based Systems Will Territorial Based Systems Become Obsolete?Become Obsolete?
• No (short answer)
• Territorial-based systems may become less important relative to others but it is more likely that more complex relationships among governance systems at different levels of aggregation -- local, national, regional, etc. -- and nonterritorial governance systems will have to be established.
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Coping Strategies: National Coping Strategies: National GovernmentsGovernments
• Many coping strategies are still possible.• Downsizing the state is not always
desirable (e.g. the case of the formerly centrally planned economies).
• National governments are likely to play a role in reducing inequalities accentuated by globalization.
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Examples of Coping StrategiesExamples of Coping Strategies
• Promotion of inward FDI
• Raising the skills of the workers via education and training programs
• Scholarships and fellowships for college
• Increased spending on research and development (R&D)
• Regional development efforts
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Races to the BottomRaces to the Bottom
• Tendency of political units to reduce regulations/taxes/standards in order to match the reductions of others as a part of competition for the location of value-added activities in their territory.
• Seen as a negative consequence of globalization.
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Examples of Possible Races to the Examples of Possible Races to the BottomBottom
• Corporate taxes
• Environmental regulations
• Wages and other labor practices
• Internet-related:– pornography– gambling– hate groups