A broad concept that represents the increasing integration of economics, culture, and politics a across national boundaries.
The view of the world as a whole a single unit with many commonalities and connections across political boarders.an ideology/identity. creating maintaining hegemony through cultural powers.
Pre-WWII rise of Globalization
-The rise of modern capitalism
-increase of International trade and migration
-International economic institutions
- Expansion of International trade
-Technological revelation and financial integration.
- The expansion of International trade
- Cross-boarder moments of production
- increase of transnational finnancial flows
The benefits of this type of globalization are development of capital.
Politics are determined by economic relations, Structural divisions between global north and south, Main actors economic classes and states (north and south)
Examples of Trade barriers
1 Quotas- set amount of limited imports
2. Technical restrictions- limit stuff ( exmaple. environmental protection)
3. Administrative restrictions- not totally capitalized (Russia, china)
4. Trade supports subsides= support domestic products
How FDI and FPI differ.
FDI differs from Portfolio investment which involves investment solely to gain capital appreciation through market fluctuations
was established in 1945 by the UN Charter to provide international supervision for 11 Trust Territories placed under the administration of 7 Member States
Council of European Union
comprises ministers of national governments, Interests of member companies