Growth and Globalization Part II

Globalization and the emergence of a

multipolar world

I. The Age of Globalization

A. Fall of USSR/Communist modelaffirmation of liberal capitalist model Free market globalization permeates everywhere

1980-1990 major changes (PCs, Internet, flow of information and money, FDI (foreign direct investment)

Importance of Multinational Corporations

I. The Age of GlobalizationCanadian documentary: The CorporationVideo: Chapter 1: What is a corporation?

II. The USA: From Superpower to Crisis

A. The U.S.: the HyperpowerThe “Big Winner” but not for long…

Development of high technology &service industries

Outranked all world competitorsGreat prosperity in 1990s –

Clinton

II. The USA: From Superpower to CrisisVideo: The 1990’s: Boom Time in America

B. A Fragilized Status 9/11 Afghanistan 2001 Iraq 2003 Sub-primes crisis 2007 Global financial crisis 2008

How can you explain the various peaks and falls on the graph?

III. Affirmation of a Multipolar WorldA. Weakening of American power partly

explained by growth of emerging powers diverse strong points new powers of 21st century 2010 China becomes 2nd

world economic power (beating Japan)

world economic balance will see radical change in next 2 decades

III. Affirmation of a Multipolar WorldTED Talk London. Understanding the Rise of China, by Martin Jacques 2010

B. Affirmation of BRICS confirms the breaking up of the former “Third World”1. Emerging powers catching up with developed countries2. Developing countries (esp. LDC)

low irregular growth ratemarginalized & excluded from

globalization

Each country’s size based on GDP per person

Concentration of GDP around the world

Reading Homework

1/The Unfinished Nation Read Chapter 34: The Age of Globalization

pp. 923- 929/939-947Will be scanned on the blog!

2/ “The Puny Superpower: America’s role in the world is steadily shrinking, and that’s nothing to celebrate.” Newsweek 2013