Globalization

Paper Summary:

The paper discusses three aspects of globalization: international trade, capital mobility and the spread of knowledge and technology, and the movement of people. The paper looks at the risks inherent in globalization as seen by the the Asian financial crisis in the 1990s. The paper shows how, as globalization has progressed, the most advanced countries have gained the most from the integration of economies; as such there is a widening gap between developed/advanced countries and developing/underdeveloped countries.

Outline:
Introduction
Logic of Globalization
Conclusion: Global Political Economy

From the Paper:

"Globalization is defined as the increasing global interconnectedness of separate markets and cultures due, in large part, to significant advances in technology.
"Although globalization has many facets, in the past half-century, it has had profound implications on the world. It has connected cultures economically, politically, and socially. Because of this, successful businesses have learned how to manipulate globalization to their benefit. In order to take advantage of the opportunities that globalization offers, a company must understand the organizations that help direct its course."

Sample of Sources Used:

• McConnell, Stanley and Steven Brue. Macroeconomics. New York: McGraw Hill, 2005.
• Ravenhill, John. Global Political Economy. United States: Oxford University Press, 2005.

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