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POLI 227 Lecture 5 Notes
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POLI 227 Lecture 5 Notes - Political Economy & Inequality contd.
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Lecture 5 - Jan. 16th, 2019Globalization and the Developing World
Lecture Notes
, Globalization
- Spread of technology, media, culture, and tourism have accelerated globalization.
- Not only a political phenomenon, but a cultural and technological one as
well.
- Tourism also feeds into globalization
- People bring with them the profile of the society/country that they come
from when they visit developing countries.
- Globalization has political and economic aspects, as well as social and cultural
ones.
- Does globalization strengthen or erode state sovereignty?
- Does it benefit or hinder developing countries?
- Both
- Not a linear process
Globalization and Sovereignty
- Multi-national bodies like the United Nations, European Union, and World Trade
Organization can make decisions that states are forced to accept (weakens)
- Sovereignty: the notion that a country should have jurisdiction within its
borders, a jurisdiction that ought to be respected internationally
- Globalization has led to the growth/expansion of multinational bodies; in
some instances, this has undermined state sovereignty.
- Organizations like the WTO have certain conditions that developing
countries must adhere to.
- If you do adhere to those rules, then you are obligated to give corporations
based in other countries important power over your economic processes.
- Essentially forces developing countries to play by a set of rules that they
had no hand in making.
- The rules are created by the big players: U.S., EU
- States can also organize to help each other solve problems like human trafficking,
drug smuggling, climate change (strengthens)
- Globalization can help solve international problems that require multi-state
responses to be effective, such as climate change
Globalization and Economy
- Foreign Direct Investment (FDI) provides local jobs, strengthens local economies
(strengthens)
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