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Globalization - What is globalization and it's discontents

4 important questions on Globalization - What is globalization and it's discontents

What is globalization?

Originally countries focused on reducing tariffs for increasing trade.

What is globalization?

The increased flow of goods, services, capital, and people across borders, on a global scale.

- Technological changes accelerated globalization.

FDI

A Foreign Direct Investment is an investment made by a firm or individual in one country into business interest located in another country.

Generally, the FDI takes place when an investor establishes foreign business operations or quires foreign business assets in a foreign company.

Name two benefits and one downside of the FDI's:

Benefits:

- Economic growth.
- Trickled down economies.

Downside:

- Adjusting national policies at the expense of the local population (reduce worker rights and lower taxes).

Development of underdevelopment

We cannot hope to formulate adequate development theory and policy for the majority of the world's population.

Without what?

Without first learning how their past economic and social history gave rise to underdevelopment.

- Yet most historians study only developed metropolitan countries and pay scant attention to the colonial and underdeveloped lands. For this reason, most of our theoretical categories and guides to development policy have been distilled exclusively from the historical experience of the European and North American advanced capitalist nations.