 Show The good news for advocates of globalization is that people across a diverse range of advanced, emerging and developing economies overwhelmingly (a median of 81%) say that international trade and global business ties are good for their country. People also generally voice the opinion (a median of 74%) that it is beneficial for their economy when foreign companies build new factories in their country. The survey included 48,643 respondents from March 17 to June 5, 2014. The bad news for these same apostles of globalization is that a significant share of people in many nations have reservations about the impact of deeper international economic integration. Just over half (54%) believe trade creates jobs. Only a plurality (45%) holds the view that it increases wages. And barely a quarter (26%) share the opinion that trade lowers prices, contrary to one of economists’ principal arguments for why nations should trade. The ugly political consequence of such sentiment is that skepticism about trade and investment is particularly strong in France, Italy, Japan and the United States. Each of these nations is involved in negotiating major regional trade agreements: the Trans-Pacific Partnership (TPP) in the case of the U.S. and Japan and the Transatlantic Trade and Investment Partnership (TTIP) between the European Union nations and the U.S. If approved, the governments involved, including the Obama administration and most of the business communities in Europe, Japan, the U.S. and other countries party to the talks, say the deals will spur growth and jobs while benefiting consumers. But, when we ask about specific implications related to international trade, the American public is particularly skeptical. For example, barely 17% of Americans think trade leads to higher wages, only 20% believe it creates new jobs and just 28% say foreign companies buying American companies is good for the country. This undercurrent of distrust could complicate government efforts to further deepen and broaden global markets. Bruce Stokes is a former director of global economic attitudes at Pew Research Center. This is a preview. Log in to get access Abstract Why did globalization happen? Current explanations point to a variety of conditions under which states have made the free market policy changes driving international economic integration since the 1980s. Such accounts disagree, however, about the key actors involved. This article provides a reconciliation, showing how two different combinations of actors, and two different political economic pathways, have led to globalization in recent decades. In developed countries, mobilization by business has been central; elsewhere, technocrats both constrained and empowered by international finance have pursued globalization more independently of business. In both contexts, economists’ technical authority has helped legitimate liberalization, despite the limited diffusion of their ideas. The article validates and elaborates this model using a comparative-historical study of how the United States, Canada, and Mexico proposed, negotiated, and ratified agreements for free trade in North America. Journal Information Current issues are now on the Chicago Journals website. Read the latest issue.Established in 1895 as the first US scholarly journal in its field, the American Journal of Sociology (AJS) presents pathbreaking work from all areas of sociology, with an emphasis on theory building and innovative methods. AJS strives to speak to the general sociology reader and is open to contributions from across the social sciences—political science, economics, history, anthropology, and statistics in addition to sociology—that seriously engage the sociological literature to forge new ways of understanding the social. AJS offers a substantial book review section that identifies the most salient work of both emerging and enduring scholars of social science. Commissioned review essays appear occasionally, offering the readers a comparative, in-depth examination of prominent titles. Publisher Information Since its origins in 1890 as one of the three main divisions of the University of Chicago, The University of Chicago Press has embraced as its mission the obligation to disseminate scholarship of the highest standard and to publish serious works that promote education, foster public understanding, and enrich cultural life. Today, the Journals Division publishes more than 70 journals and hardcover serials, in a wide range of academic disciplines, including the social sciences, the humanities, education, the biological and medical sciences, and the physical sciences. Rights & Usage This item is part of a JSTOR Collection. What is one argument in support of globalization?Arguments for Globalization. Benefits of globalization include access to larger markets, better allocation of resources, increased business opportunities, improved product quality, and consumer benefits.
How does globalisation promote foreign trade and foreign investment?Globalization has resulted in greater inter-connectedness among markets around the world and increased communication and awareness of business opportunities in the far corners of the globe. More investors can access new investment opportunities and study new markets at a greater distance than before.
What is the relationship of globalization to international trade?International trade is also a central driving force behind globalisation, a process of integration among countries and people. According to economic theory, as technological development drives down transaction costs (communication, transport), cross-border trade and investment will increase.
How does free trade increase globalisation?1. Free trade is a way for countries to exchange goods and resources. This means countries can specialise in producing goods where they have a comparative advantage (this means they can produce goods at a lower opportunity cost).
|
According to supporters of the globalization of trade and investment, free trade
Urheberrechte © © 2024 de.ketajaman Inc.
