Alrighty, for those of you who have an opinion on the world markets. Come test your contextual knowledge on globalization (yes, economics can be sexy AND remarkably useful to understand in a wobbling world).
Has technology or access to cheap outsourced labour has been the primary driver of globalization in the last decade?
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4.”The full potential of trade to reduce poverty cannot be realised unless poor countries have access to markets in rich countries. Unfortunately, Northern governments reserve their most restrictive trade barriers for the world’s poorest people. Competition in the international trading system can be likened to a hurdle race with a difference: the weakest athletes face the highest hurdles. When desperately poor smallholder farmers or women garment workers enter world markets, they face import barriers four times as high as those faced by producers in rich countries. Trade restrictions in rich countries cost developing countries around $100bn a year – twice as much as they receive in aid.” Rigged Rules and Double Standards: Trade, Globalisation, and the Fight Against Poverty (Oxfam, 2002)
This is anti-globalization nonsense, it is laziness rather than trade restrictions that keep poor countries from prosperity.
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5.”Many corporations have a greater turnover than the GDP of most countries. Of the 100 largest economies in the world, 52 are corporations and 48 are countries, and these corporations have sales figures between $51 billion and $247 billion” Reforming International Trade [www.stwr.org/imf-world-bank-trade/reforming-international-trade.htm]
Corporations have stepped into a succession of power, from kings, to the churches, to governments and the filter through which much of the policy regarding our common global resources is formed.
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6. It is easier for capital to move than it is for labour. Capital sees opportunity while labour sees competition in globalization.
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7. Marx’s theory of working-class emiseration – companies seek to reduce wages and working conditions to increase profit margins – is an effect of industrialization, not capitalism.
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8. The Race to the Bottom is a benefit of the “trickle-down” effect of neo-liberal success. The wealthy few feed the “bottom of the pyramid” by investing in human development programmes which creates sustainable economies globally.
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9. “Global firms can only make their billions of dollars selling deadly cigarettes, gas- guzzling Hummers, hormone-filled beef, butter from the other side of the planet, underwear made in sweatshops, and genetically engineered corn if people buy them. There are several ways that individual consumers can strive to ensure that their spending
better reflects their values”. – International Forum on Globalization (2007)
If you supported “alter-globalization” would you be looking to free trade or fair trade to make your buying decisions?
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10. “America sneezes and the world catches a cold” – Because of the fragile interdependence created by commercial globalization, a multi-billion dollar bailout was sought to prevent a world financial market crash when major institutions & banks collapsed on Wall Street in September.
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11. The Central Banks, like the US Federal Reserve, the Bank of England and our Reserve Bank determine interest-rates and regulate money-supply for their country. Some are public-owned with shareholders, and some privately owned. They are independent entities and have policies to prevent government interference.
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12. When less-developed countries who have been urged by the IMF, WTO or World Bank to “liberalise” their trade policy open their markets, the first effect is a massive influx of wealth especially for small farmers who can now export to new markets, grow from strength to strength under economic globalization.
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13. Protectionism and government intervention is the only way to ensure that countries prosper and ensure their mutual growth sustainably.
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14. Traditional societies find cultural globalization easiest to integrate because they are technologically innovative and communicate easily using new technologies.
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15. The “lingua franca” (agreed language) of global business is English.
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16. Transnational corporations are accountable to the World Trade Organization to ensure that their dealings are practiced ethically, and with a close watch on labour practice and the environment.
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17. World Bank loans are a great relief to countries that have been devastated by war or natural disaster, and statistically helps to stimulate massive resurging growth within an average of 2 years.
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18. This is the first time in history that humanity has attempted globalization due to the surge in communication and innovation through technology.
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19. ”Almost 3 billion people, about half of the world’s population, live in urban areas and about 160 000 more join them every day..” – United Nations Environment Programme (http://unep.org) 2008.
The majority move to urban areas thanks to increasing personal income and seek access to commercial opportunity because of liberalised markets.
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20. 
According to the World Bank’s World Development Indicators 2008, “The poorest 10% accounted for just 0.5% and the wealthiest 10% accounted for 59% of all the consumption”.
Private consumption of goods and global resources is evenly distributed because globalization has ensured that those who deserve the best standards of living through working hard can achieve it in the free market.
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If globalization excites you too, I’d love to share some of my faves http://www.diigo.com/user/maximizen/globalization.
the chilling-out of our gorgeous Gaia
