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The economic dimension of globalization (Internationalization of trades…
The economic dimension of globalization
emerge of the global order
Contemporary
ends WWII
Bretton Woods system
USA and Great Britain= Power
Expand International trade
Binding rules
Stable money exchange
Set their own agendas
Institutional foundations
World Bank
International Monetary Fund
World Trade Organization
1970
System Collapsed
US Richard Nixon
Abandoned gold-based fixed rate
Instability
High Inflation
low economic growth
High unemployment
1980
Neoliberal Revolution
British PM Margaret Thatcher
US Ronald Reagan
Increase power of TNC
Enchanced roles for institutions
Internationalization of trades
Trade-liberalization agreements
NAFTA
GATT
Deregulation of interest rates
removal of credit controls
privatization of government-owned banks
Power of TNCs
Biggests Enterprises
General Motors
Walmart
Exxon-Mobil
Corporate Globalization
Major determinants of trade flows
Important players
International Economic Institutions
IMF and World Bank
Economic Agenda
Synchronized neoliberal interests
Deregulate markets