1 - Globalization

ucla | GEOG 4 | 2023-10-02T09:55

Table of Contents

Supplemental

Lecture

  • globallization is criticizd (essp. US)

    • decliine in manufacturing jobs

      • used to be wellpaying and supports families
      • politics now say manufacturing has declined in the US and is outsourced to mexico, china, asia
      • HOWEVER, in fact the employment has gone down while output has gone UP a lot due to technology

    • income inequality (corporate ladder)

      • income ranges between employees and employers had ratios much closer to 5:1 ca. 1965
      • NOW, the ratio is closer to 300:1

    • global income inequality

      • middle-class economies have dropped in per capita income growth due to the development of economies in the emerging world
      • while simultaneously, the elite top 1% of the global elite are consistently high
      • while poor economies are significantly poorer
    • productivity stall
      • global productivity has fallen over times due to the reduced need for real manufacturiing
      • a shift to technological advancements and research has stalled economic produtivity

    • automation

      • emerging tehnology has taken over the previous low and middle class jobs and blue collar labor

    • US-China trade

      • critiized for reducing labor and manufacturing due to outsourcing
      • while there are much fewer exports from US manufactured goods to foreign nations like china
  • scaling gloablization (using containerization) to country levels

    • core-semiperiphery-periphery

      • distributes zones of economic development into how trade ocurs and current economic development

      • core - ususally US+Europe+Japan
      • Semi-peripheray - uually South Korea, Taiwan, China, etc.

    • three worlds

      • firsst world - top economies
      • second world - growing economies
      • third world - poor economies
      • HOWEVR, these classification are very outdated as the distribution is mostly baed on WW2 outcomes as 1st vs 3rd worlds
  • global dynamics of 1970s - current
    • US vs the World

      • US economy heads the world with 59 of the top 100 countries (by market cap) HQd in the US

      • nearly 88% of world trades are in US dollar - the US currency becomes the standard

      • US holds the majority of military power and spending along with the numerous upon numerous allies

      • US foreign exchange trade has stagnated vompared to the rest of the world

    • world economy

      • lous have shifted over time SIGNIFIANTLY

      • global growth rates have shifted significantly with previously loused eonomies are rebounding

      • China overtook the U as the destination for foreign investment - has now stagnated but is still shifting to Asia
      • global spending haas been extremely focused in the economic elite - global economies now need to make money by selling bonds
      • India growing to rival china in global ecoonomies
    • globalization is stalling
      • trade as gdp has slowed down in reent years
      • global supply chains have become more stagnant

Discussion

Resources

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