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Since at least the Great Financial Crisis, authorities around the world have increasingly relied on macroprudential policy to help secure financial stability and complement monetary policy as an integral element of a broader macro-financial stability framework. In today's interconnected global financial system, policy actions taken by the major advanced economies can have spillovers on the rest of the world through their impact on capital flows and exchange rates, potentially generating vulnerabilities across borders. Conversely, in emerging market economies, macroprudential policy as well as foreign exchange intervention and/or capital flow management policy can help mitigate the corresponding impact. This can in turn generate spillbacks on advanced economies — spillbacks that have become more sizeable as the emerging market economies'heft in the world has grown. Yet little is known about these interactions.The contents of this book are based on a conference held on 26-28 May 2021 and jointly hosted by the Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS). It aims to contribute to existing literature on macro-financial policymaking by providing an overall conceptual framework and documenting the latest global trends and country experiences. In particular, it highlights the role of international spillovers and spillbacks, paying particular attention to emerging market economies. This book is essential reading for academics, graduate students and economic professionals. It can also serve as a handbook for policymakers at central banks, regulatory authorities and other government agencies tasked with designing and implementing macroprudential or more generally macro-financial stability policies. The book will also be of interest to researchers at international organisations.

This book reviews the experience of 14 countries with external liberalization and related policies, based on papers written by national authors following a common 0000oeconomic methodology. The methodology, the papers'main results, and policy implications are summarized in the introductory chapter. The book reports on a follow-on project to the country studies presented in Lance Taylor (ed.), External Liberalization, Economic Performance, and Social Policy, OUP, 2001. The new project represents a significant extension of the earlier work in that it focuses principally on formerly socialist European economies (Hungary, Poland, Russia), Asian economies (consistently growing China, India, Singapore, and Vietnam; the 1997-98 crisis victims Indonesia, Korea, Malaysia, and Thailand; and cyclically stagnant Philippines and Turkey). Brazil is also included as an important comparator. Macroeconomics has traditionally been less actively pursued in Asia and the transition economies than, say, in Latin America. The 1997-98 crisis awoke the Asians to the importance of macro, and the present book is in part a response to the development. A distinguishing feature of the book is the common methodology, which focuses on the mechanisms via which effective demand is generated and the interactions of labor productivity, employment growth, and income distribution. The country papers show clearly how trade and capital account liberalization along with changes in the real exchange rate affected demand, productivity, and employment at the country level. They also trace through shifts in the overall income distribution and the incidence of poverty. The authors of the papers bring a wealth of insight into their thick descriptions à la Clifford Geertz's famous Balinese cockfight about how diverse economies responded to rather similar reform packages and offer lessons about ongoing institutional change. They also suggest policy shifts that may help make economic performance better in the future than it has been in the past.

We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observations, and is designed to facilitate the updating of global activity estimates as data are released and revisions become available. We apply the framework to the G-7 countries and study various aspects of national and global business cycles, obtaining three main results. First, our measure of the global business cycle, the common G-7 real activity factor, explains a significant amount of cross-country variation and tracks the major global cyclical events of the past forty years. Second, the common G-7 factor and the idiosyncratic country factors play different roles at different times in shaping national economic activity. Finally, the degree of G-7 business cycle synchronization among country factors has changed over time.

China and India are the two most populous countries in the world and now also two of the fastest growing. By sheer virtue of the fact that China and India are home to 2.4 billion people - two-fifths of the world's population - the rapid growth of their economies has far-reaching implications not just for global living standards and poverty reduction but also for competitiveness and distribution of income in the rest of the world. Commensurate with their economic progress, there has been a surge of interest in the nature and implications of China and India's economic growth. There are several apparent similarities in the development process of China and India: both are home to ancient civilizations that have bequeathed distinctive attitudes, institutions, and traditions. Both have very large populations. Both have performed well economically for more than two decades. However there are important differences that can be seen beneath the surface. China started the current reform process in 1978 - that is, almost fifteen years before India. The two countries have very different political systems. Their development models differ fundamentally as well. China has opened up much more than India to foreign trade and foreign direct investment, while India has a better developed banking system. Growth in the two countries has been driven by different sectors - Chinese growth by manufacturing and Indian growth by services. This volume brings together some of the best research on issues related to the growth experience of China and India and places these issues in a comparative perspective. It contains papers written by some of the leading academic and experts in the world on issues ranging from the roles of China and India in the world economy, contrasts in their development experience, and challenges to sustaining growth.

Bringing together papers from some of the leading national and international experts from the Global Union Research Network (GURN), this book provides a valuable overview of how trade unions around the world are responding to globalization.

Should Japan and Germany strive to restructure their institutional fabric and arrangements to make them more similar to Anglo-American standards? Where will systemic change lead? This book offers fresh insights by collecting Japanese and German contributions to this scholarly discussion both from theoretical and empirical viewpoints. A major conclusion of several papers is that the forces of differentiation are frequently underestimated. Important thematic issues include: contingency, path dependence and complementarity. Examinations of economic globalisation and rapidity of technological change pose questions about the nature of socio-economic system analysis in the future.

People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.

Globalization: A Key Idea for Business and Society analyzes today's process of global integration. Globalization is seen as a complex phenomenon, the drivers of which are of a technological, institutional, cultural and, not least, political nature.The book includes a historical analysis of the rise, and fall, of the “first globalization” wave which took place between the end of the Napoleonic Wars and the Great War. The chapters focus on the measurement of the global integration process, on the in-depth analysis of the above mentioned “drivers”, and on some of the actors playing a relevant role in the process itself – multinational companies and governments as owners of global companies. The conclusion of the book provides a perspective on the current “globalization backlash”, its determinants and possible future alternative scenarios.This book is an ideal resource for students and practitioners interested in past, present and future globalization.

Globalisation has created many opportunities for economic development, but it is also associated with rising income inequality and poverty. International crises such as the international financial and economic crisis of 2008, and more recently the global health pandemic, have led to a rise in unemployment and income losses for workers and a surge in the violation of workers'rights.At global level intergovernmental organisations including the World Bank and the IMF are influential actors and policy makers which promote the UN Sustainable Development Goals. However, the International Financial Institutions (IFIs) have been criticised for their internal political power imbalances and macroeconomic policy prescriptions based on neo-liberal principles. The Global Unions and their affiliates as well as the International Labour Organisation (ILO) regularly comment on the negative impact of the IFI's policies in regard to labour flexibilisation and the privatisation of public and social services. In 2002 a formalised dialogue was established between the Global Unions and the IFIs which addresses labour, social and environmental issues. This dialogue takes place at three levels: the country level, the sector level, and the headquarters level. The ILO maintains its own dialogue with the IFIs, but it also participates at the headquarters-level dialogue between the Global Unions and the IFIs.Employment Relations and Global Governance focuses on the headquarters-level dialogue which can be considered as a strategic instrument that helps the Global Unions and their affiliates to exercise influence over the policies of the IFIs, especially those policies which concern workers. The book describes and analyses the development of the dialogue since its establishment with a particular focus on factors which promote and hinder the dialogue.The book provides important insights into the real-world functioning of the institutions of economic global governance and its broader impact on the world of work. It is likely to be key reading for academics, researchers and students studying global employment relations, political economy, and international organisations. It will also be of interest to international and national trade unions, non-governmental organisations, and policy makers.

In the second edition of his Global Political Economy, thoroughly revised, David Reisman reexamines the ideological and material underpinnings of the international order in the light of recent research and developments.Taking belief systems such as liberalism, socialism and nationalism as his way into current controversies and debates, he suggests ways in which the conflicting positions can be reconciled. The book ranges widely, from the role of the superpower hegemon and the international organisations to competing currencies, trade agreements, regional pacts, transnational corporations, intellectual property rights and the less developed countries. Global Political Economy is an impartial, multidisciplinary and comprehensive analysis of the lines of force that are pulling the world together even as they are drawing it apart.Offering an insightful picture of economic unions and international trade, this book will be essential reading for students and scholars of economics and finance, global political economy, international relations, and public policy and politics.

This book explores the catching-up process of a group of large emerging markets: the New Economic Powers. This process is extremely robust and should be considered as the defining trend of our age, resulting in a pivotal change in world economics and politics. The outcome is that the West cannot dominate the world as it did in the previous 200 years. Today's world is pluralistic, and the larger emerging markets are becoming increasingly influential. That is the new reality, which at times caused, and will cause, further discomfort and uncertainty in the West. In the eight chapters, the viewpoints on globalization of nine New Economic Powers are discussed. Each chapter is an essential element in understanding the process of globalization and the role the New Economic Powers play in it. Essentially, their views are guided by a fundamental different look about the role of the market and the government in society, compared to what we see in the West. The New Economic Powers understand the power of the market to create prosperity, but at the same time emphasize the need for government interference. This delicate balance is particularly visible with respect to their international trade and investment policies, which bring them in conflict with Western countries and multilateral institutions such as the WTO and the IMF. The book helps the reader to understand the fundamental choices made by policymakers in the New Economic Powers.

A case for why regionalization, not globalization, has been the biggest economic trend of the past forty years The conventional wisdom about globalization is wrong. Over the past forty years as companies, money, ideas, and people went abroad more often than not, they looked regional rather than globally. O'Neil details this transformation and the rise of three major regional hubs in Asia, Europe, and North America. Current technological, demographic, and geopolitical trends look only to deepen these regional ties. O'Neil argues that this has urgent implications for the United States. Regionalization has enhanced economic competitiveness and prosperity in Europe and Asia. It could do the same for the United States, if only it would embrace its neighbors.

The COVID-19 pandemic has adversely affected global trade. While factories have stopped production worldwide due to COVID-19, global trade has also been adversely affected by the pandemic. The international trade of the world's top exporting countries has begun to decline. Although it is too early to judge the impact of the pandemic on world trade, as the virus has not yet been eradicated, research into the cause-effect relationship between these two phenomena is necessary to understand the magnitude of its impact as well as possible solutions to the problem. The Transformation of Global Trade in a New World provides relevant theoretical frameworks and the latest findings in the field of international business and internationalization. It addresses the asymmetric impact of the COVID-19 pandemic on international trade and the methods of entry into foreign markets together with the future prospects of global trade in an era of globalization. Covering topics such as economic crisis, green finance, and labor force sustainability, this premier reference source is an excellent resource for business leaders and executives, economists, logistics professionals, sociologists, students and faculty of higher education, librarians, researchers, and academicians.

This book offers a concise and analytical portrait of the contemporary world.The author encompasses concepts and theories from multiple disciplines notably sociology, anthropology, business, and economics to examine major global trends and transformations of the modern world, their underlying causes, and their consequences.The text examines global demographic trends, globalization, culture, emerging markets, global security, environmental degradation, large corporations, and economic inequality. The author also analyzes major transformations in healthcare, food, the sharing economy, Fourth Industrial Revolution, consumption, work and organization, innovation and various technologies in areas such as automation, robotics, connectivity, quantum computing, and new materials.This book is a valuable reference for business leaders, managers, students, and all those who are passionate about understanding the rapidly changing contemporary world.

International cartels are powerful organizations that impact our everyday lives, although they are little known. This book presents 15 historical case studies of international cartels that include agricultural and mineral commodities, the machinery industry, telephone equipment, whiskey and cement. These cases reveal that international cartels manipulated prices and shared markets over many decades but that their real impact was far wider. The global convergence towards criminalizing serious cartel conduct has seen a revival in historical research on cartels and competition policy. The regulation of anti-competitive behaviour has changed over time. To understand why the US, European and other modern economies altered their policies through the 20th century, it is critical to understand when, how and why governments have interacted with, and been influenced by, business organizations such as cartels. This volume draws together researchers from different nations to examine the impact of international cartels on the experience of individual nations, those nations'interactions with one or more international cartels, and ultimately the interactions of individual nations with the wider international community.This book will be of interest to researchers, academics and advanced students in the fields of business and economic history, political economy, and government policy, as well as those interested in cartels and their impact on the wider economy.

When designing a world trading system for the twenty-first century, “Keep calm and carry on” beats “Move fast and break things.”Global trade is in trouble. Climate change, digital trade, offshoring, the rise of emerging markets led by China: Can the World Trade Organization (WTO), built for trade in the twentieth century, meet the challenges of the twenty-first? The answer is yes, Robert Staiger tells us, arguing that adapting the WTO to the changed economic environment would serve the world better than a radical reset.Governed by the WTO, on the principles of the General Agreement on Tariffs and Trade (GATT), global trade rules traditionally focus on “shallow integration”—with an emphasis on reducing tariffs and trade impediments at the border—rather than “deep integration,” or direct negotiations over behind-the-border measures. Staiger charts the economic environment that gave rise to the former approach, explains when and why it worked, and surveys the changing landscape for global trade. In his analysis, the terms-of-trade theory of trade agreements provides a compelling framework for understanding the success of GATT in the twentieth century. And according to this understanding, Staiger concludes, the logic of GATT's design transcends many, if not all, of the current challenges faced by the WTO. With its penetrating view of the evolving global economic environment, A World Trading System for the Twenty-First Century shows us a global trading system in need of reform, and Staiger makes a persuasive case for using the architecture of the GATT/WTO as a basis for that reform.

An authority on Asia and globalization identifies the challenges China's growing power poses and how it must be confronted'Timely and thought-provoking.... An unsparing analysis of how Washington's elite fell into the grip of their China delusion.'—James Kynge, Financial Times'Prestowitz doesn't just point out problems; he offers a detailed, 25-page'Plan for America.'An excellent comprehensive study from an expert on the subject.'—Kirkus, Starred Review When China joined the World Trade Organization in 2001, most experts expected the WTO rules and procedures to liberalize China and make it “a responsible stakeholder in the liberal world order.” But the experts made the wrong bet. China today is liberalizing neither economically nor politically but, if anything, becoming more authoritarian and mercantilist. In this book, notably free of partisan posturing and inflammatory rhetoric, renowned globalization and Asia expert Clyde Prestowitz describes the key challenges posed by China and the strategies America and the Free World must adopt to meet them. He argues that these must be more sophisticated and more comprehensive than a narrowly targeted trade war. Rather, he urges strategies that the United States and its allies can use unilaterally without contravening international or domestic law.

A Financial Times Best Book of the YearA Fortune Best Book of the YearA ProMarket Best Political Economy Book of the YearAn essential guide to the intractable public debates about the virtues and vices of economic globalization, cutting through the complexity to reveal the fault lines that divide us and the points of agreement that might bring us together.Globalization has lifted millions out of poverty. Globalization is a weapon the rich use to exploit the poor. Globalization builds bridges across national boundaries. Globalization fuels the populism and great-power competition that is tearing the world apart.When it comes to the politics of free trade and open borders, the camps are dug in, producing a kaleidoscope of claims and counterclaims, unlikely alliances, and unexpected foes. But what exactly are we fighting about? And how might we approach these issues more productively? Anthea Roberts and Nicolas Lamp cut through the confusion with an indispensable survey of the interests, logics, and ideologies driving these intractable debates, which lie at the heart of so much political dispute and decision making. The authors expertly guide us through six competing narratives about the virtues and vices of globalization: the old establishment view that globalization benefits everyone (win-win), the pessimistic belief that it threatens us all with pandemics and climate change (lose-lose), along with various rival accounts that focus on specific winners and losers, from China to America's Rust Belt.Instead of picking sides, Six Faces of Globalization gives all these positions their due, showing how each deploys sophisticated arguments and compelling evidence. Both globalization's boosters and detractors will come away with their eyes opened. By isolating the fundamental value conflicts—growth versus sustainability, efficiency versus social stability—driving disagreement and showing where rival narratives converge, Roberts and Lamp provide a holistic framework for understanding current debates. In doing so, they showcase a more integrative way of thinking about complex problems.

An updated look at global trade and why it remains as controversial as everFree trade is always under attack, more than ever in recent years. The imposition of numerous U.S. tariffs in 2018, and the retaliation those tariffs have drawn, has thrust trade issues to the top of the policy agenda. Critics contend that free trade brings economic pain, including plant closings and worker layoffs, and that trade agreements serve corporate interests, undercut domestic environmental regulations, and erode national sovereignty. Why are global trade and agreements such as the Trans-Pacific Partnership so controversial? Does free trade deserve its bad reputation? In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that run rampant in the debate over trade and gives readers a clear understanding of the issues involved. In its fifth edition, the book has been updated to address the sweeping new policy developments under the Trump administration and the latest research on the impact of trade.

China has attracted a huge amount of investment in R&D internationalization of multi-national corporations (MNCs), which is playing an important role in its economy. Constrained by natural resources, China has to attach more importance to technological progress and indigenous innovation in order to move beyond the old economic growth model. Technology seems inaccessible to outsiders, which prevents others from doing research in a comprehensive and systematic manner. In this book, technology is regarded as a factor of production that is allocated by MNCs across the world to maximize profits. Such rational economic behavior serves as our entry point to enhance existing theoretical achievements on R&D internationalization.

This book willenable the reader to develop global strategies based on trade information and trade flows analysis.Developing global business strategies in today's competitive and disruptive environment calls for greater interaction between the business sector and government. Among the instruments available today are various market analytic tools. These tools, coupled with new business models, not only provide a competitive edge but also becomes a necessity to survive in the global ever changing trade environment.This book concerns everyone dealing with market selection, market strategies, and trade policy. The reader will be able to develop global strategies based on trade information and trade flows analysis. An analysis of the most competitive countries in world trade shows the importance of pro-business policies, access to modern infrastructures, investment in research, and increased productivity. The authors explain how to design practical strategies in a global context, greater competition and uncertainty due to the introduction of new business models.

At a time when globalization is taking a step backward, what's the best way to organize a global enterprise? The key, explains political economist Steven Weber, is to prepare for a world increasingly made up of competing regions defined by their own rules and standards.Globalization has taken a hit as trade wars and resistance to mass migrations dominate headlines. Are we returning to the old world of stand-alone nations? Political economist Steven Weber argues that we are heading toward something new. Global connectedness will not dissolve but will be defined by “regional” blocs, demarcated more by the rules and standards they follow than by territory. For leaders of firms and NGOs with global ambitions, navigating this transformation is the strategic challenge of the decade.Not long ago, we thought the world was flattening out, offering a level playing field to organizations striving for worldwide reach. As global economic governance expanded, firms shifted operations to wherever was most efficient—designing in one country and buying, manufacturing, and selling in others. Today, the world looks bumpier, with rising protectionism, national struggles over data control, and tensions over who should set worldwide standards. Expect emerging regional blocs to be dominated by the major rule-makers: the US, China, and possibly the EU. Firms and NGOs will need to remake themselves by building complete, semi-independent organizations in each region. Every nation will choose which rule-maker it wants to align with, and it may not be the one next door. This new world has the potential to be more prosperous, Weber argues, but friction between the dynamics of geography and technology will make it more risky.Pioneering research, creative thinking, and colorful storytelling from the frontlines of the global economy combine to make this a must-read for leaders and analysts facing tomorrow's world.

Economics is business, and politics is power. In this insightful book, David Reisman explores the interaction between authority and exchange in a global village where individual nation states - once the pinnacle of political organisation - increasingly depend on each other for their material well-being. Taking a transnational and impartial perspective, the author builds a comprehensive and intricate narrative. He dissects the emergence of the contemporary global economy and explains its impact on the sovereignty and strength of nations. Reisman explores the ways in which liberals, socialists and nationalists can reach a viable consensus in a new social order where the national interest must be the global interest as well. Offering authoritative, integrated and critical guidance to a topic that is of ever greater importance, this book is crucial reading for students of global political economy and international politics.

An Economist Book of the YearA Financial Times Book of the YearA Foreign Affairs Best Book of the YearA Prospect Best Book of the YearA ProMarket Book of the YearAn Omidyar Network “8 Storytellers Informing How We've been Reimagining Capitalism” Selection“Brilliant…Poses all the important questions about our future.”—Gordon Brown“A scholar of inequality warns that while capitalism may have seen off rival economic systems, the survival of liberal democracies is anything but assured.”—The EconomistWe are all capitalists now. For the first time in human history, the world is dominated by one economic system. At some level capitalism has triumphed because it works: it delivers prosperity and gratifies our desire for autonomy. But this comes at a moral price, pushing us to treat material success as the ultimate goal, and offers no guarantee of stability. While Western liberal capitalism creaks under the strains of inequality and excess, some are flaunting the virtues of political capitalism, exemplified by China, which may be more efficient, but is also vulnerable to corruption and social unrest.One of the outstanding economists of his generation, Branko Milanovic mines the data to tell his ambitious and compelling story. Capitalism gets a lot wrong, he argues, but also much right—and it isn't going away anytime soon. Our task is to improve it in the hopes that a more equitable capitalism can take hold.“Erudite, illuminating…Engaging to read…As a virtuoso economist, Milanovic is superb when he is compiling and assessing data.”—Robert Kuttner, New York Review of Books“Leaves little doubt that the social contract no longer holds. Whether you live in Beijing or New York, the time for renegotiation is approaching.”—Edward Luce, Financial Times

With the ending of the Cold War and the rise of a nationalistic ‘America First'strategy, the post-war liberal international order, based upon the hegemonic power of the USA, is fading away. In its place, a multipolar world is emerging which, while offering some the hope of a better future, is also open to disorder and instability. This book offers an insight into the relationship between politics and economics in this new era. As an alternative, this volume argues for a form of global governance that will offer a better balance between politics and economics, based on a supranational approach. A supranational approach in which world powers and UN member states can work in agreement would follow the principle on which European political and economic integration was built. The system put forward here is based on a Keynesian world clearing union and a reform of the World Trade Organization and a United Nations budget, which would accelerate the convergence of rich and poor countries in the aim of a more sustainable global system. This book demonstrates that globalisations and today's ecological challenges are both a cause of social discontent and an opportunity. Supranational institutions can greatly increase our ability to address global risks, and this book shows how a'supranational'world order could reduce the uncertainty of the transition from the post-war order to the future multipolar order.The supranational principle enables us to view globalisation, world capitalism and the ecological crisis not only as causes of inequality, poverty and social instability, but also as processes that can be governed. Wise politicians and political parties cannot let the future of humanity be decided by the precarious equilibrium of the Westphalia system. In post-war Europe a group of nation states, once fierce enemies, embarked on a process of integration which led to the abolition of inter-European national borders. With supranational global governance, the same could be achieved in the global system.

Two powerful forces measure their strength by acting upon globalization. One of them pushes globalization forward, while the other hinders its advance and promotes its decline.In which of those directions should Latin America move? Uncertainty hinders the region's strategic vision. If the future entails re-launching of globalization, it seems obvious that Latin America should follow along its lines. However, if globalization were to embark on a declining phase and an endangered future, the region would need to look at other options. Latin America, therefore, faces not only a dramatic uncertainty as a result of forces beyond its control, but also needs to anticipate unforeseen events to the best of its abilities, and react to or act upon them. Strategic reflection becomes imperative to manage both uncertainty and the possibility of rapid change.This exercise in strategic reflection implies an immersion in fraught international surroundings, analyzing the forces that push for and against globalization, trying to measure their respective strength, convergence capacity, and potential impact. At the same time, it requires looking into the flaws, weaknesses and contradictions of such forces. With these elements in hand, it will be easier to envisage where the trends are leading to, and by extension, where Latin America may end up standing and which goals it should follow.

There may be no story today with a wider gap between fact and fiction than the relationship between the United States and Mexico. Wall or no wall, deeply intertwined social, economic, business, cultural, and personal relationships mean the US-Mexico border is more like a seam than a barrier, weaving together two economies and cultures. Mexico faces huge crime and corruption problems, but its remarkable transformation over the past two decades has made it a more educated, prosperous, and innovative nation than most Americans realize. Through portraits of business leaders, migrants, chefs, movie directors, police officers, and media and sports executives, Andrew Selee looks at this emerging Mexico, showing how it increasingly influences our daily lives in the United States in surprising ways -- the jobs we do, the goods we consume, and even the new technology and entertainment we enjoy. From the Mexican entrepreneur in Missouri who saved the US nail industry, to the city leaders who were visionary enough to build a bridge over the border fence so the people of San Diego and Tijuana could share a single international airport, to the connections between innovators in Mexico's emerging tech hub in Guadalajara and those in Silicon Valley, Mexicans and Americans together have been creating productive connections that now blur the boundaries that once separated us from each other.

What Globalization Now Means for Your BusinessExecutives can no longer base their strategies on the assumption that globalization will continue to advance steadily. But how should they respond to the growing pressures against globalization? And what can businesses do to control their destinies in these times of uncertainty?In The New Global Road Map, Pankaj Ghemawat separates fact from fiction by giving readers a better understanding of the key trends affecting global business. He also explains how globalization levels around the world are changing, and where they are likely to go in the future. Using the most up-to-date data and analysis, Ghemawat dispels today's most dangerous myths and provides a clear view of the most critical issues facing policy makers in the years ahead.Building on this analysis, with examples from a diverse set of companies across industries and geographies, Ghemawat provides actionable frameworks and tools to help executives revise their strategies, restructure their global footprints, realign their organizations, and rethink how they work with local governments and institutions.In our era of rising nationalism and increased skepticism about globalization's benefits, The New Global Road Map delivers the definitive guide on how to compete profitably across borders.

Processes of globalization have changed the world in many, often fundamental, ways. Increasingly these processes are being debated and contested. This Handbook offers a timely, rich and critical panorama of these multifaceted developments from a geographical perspective. This Handbook explores the myriad of ways in which differing cross-border flows - of people, goods, services, capital, information, pollution and cultures - have (re)shaped concrete places across the globe and how these places, in turn, shape those flows. With original contributions from worldwide leading scholars, the Handbook positions globalization in a broader historical perspective, presenting a variety of geographical examples so that readers can better understand these processes. Regional studies and economic and human geography scholars will find this an invaluable resource for exploring the key topics of the geographies of globalization. Lecturers and advanced students will also find the detailed case studies useful to help explain the fundamental concepts outlined in the book.Contributors include: P.C. Adams, A.-L. Amilhat Szary, D. Arnold, D. Bassens, S. Choo, K.R. Cox, E. Currid-Halkett, S. Dalby, E. dell'Agnese, B. Derudder, T. Fogelman, C. Gaffney, J. Gupta, M. Hesse, R. Horner, S. Huang, A. Isaksen, A.E.G. Jonas, A. Jones, J.M. Kleibert, R.C. Kloosterman, R. Koetsenruijter, T. Lam, J. Luukkonen, V. Mamadouh, V. Mazzucato, E. McDonough, B. Miller, S. Moisio, M. Müller, B. Oomen, S. Park, M.W. Rosenberg, J.W. Scott, M. Sparke, P. Terhorst, K. Terlouw, F. Tödtling, M. Trippl, M. van Meeteren, P. Vries, L. Wagner, Y.-f. Wu, H.-g. Xu, T. Yamazaki, B.S.A. Yeoh

Even with growing trends in isolationist, minimalist and protectionist movements, there is limited reading material on the subject. While many people are perplexed by the changes taking place globally and cannot quite put a finger on what's really happening,'The Unglobals'offers fresh ideas and aims to get a conversation going and find solution pathways to personal and organizational success. Written in a style similar to Spencer Johnson's Who Moved My Cheese?,'The Unglobals'offers fictional but plausible stories of individuals who have detached themselves from the globalized world. The notion of globalization alternatives and economic nationalism presented in this short, easy-to-read, thought-provoking book will intrigue readers.

Focusing on the intersection between globalization and migration, this powerful text traces a dynamic, contradictory process that has set the world in motion and incorporated millions of migrants into an economic market whose dimensions are unprecedented in human history. Eliot Dickinson emphasizes recent developments in global politics, such as the massive number of refugees from wars in the Middle East who are now seeking asylum in Europe; the “Fortress Europe” mentality illustrated on the Italian island of Lampedusa; the heart-wrenching humanitarian challenge of Mexican and Central American children arriving alone in the United States; and the effects of climate change and environmental destruction on international migration. Today, with the collaboration of compliant governments and elites in the peripheral countries of the Global South, multinational corporations continue to flout regulations, destroy the environment, and take advantage of the large number of displaced, unemployed workers. While globalization is eliminating barriers between countries and making it easier for goods and capital to move around the world, the industrialized countries of the Global North are simultaneously putting up barriers to people and making it harder for them to migrate. This timely and provocative book explains how we have arrived at this paradoxical point in history and critically examines why governments are enacting policies that protect borders instead of people.

Gender, Development, and Globalization is the leading primer on global feminist economics and development. Lourdes Benería, a pioneer in the field of feminist economics, is joined in this second edition by Gunseli Berik and Maria Floro to update the text to reflect the major theoretical, empirical, and methodological contributions and global developments in the last decade. Its interdisciplinary investigation remains accessible to a broad audience interested in an analytical treatment of the impact of globalization processes on development and wellbeing in general and on social and gender equality in particular. The revision will continue to provide a wide-ranging discussion of the strategies and policies that hold the most promise in promoting equitable and sustainable development. The authors make the case for feminist economics as a useful framework to address major contemporary global challenges, such as inequalities between the global South and North as well as within single countries; persistent poverty; and increasing vulnerability to financial crises, food crises, and climate change. The authors'approach is grounded in the intellectual current of feminism and human development, drawing on Amartya Sen's capability approach and focused on the importance of the care economy, increasing pressures faced by women, and the failures of neoliberal reforms to bring about sustainable development, reduction in poverty, inequality, and vulnerability to economic crisis.

In this much-needed book, Graham Dunkley challenges the oft-repeated notion that free trade and global integration are the best means of development for all nations at all times – an idea that has proved even more misguided in the wake of the global financial crisis. By contrast, Dunkley reveals – through a wide range of statistical analysis and case studies – that at best the evidence is mixed. Looking systematically at issues such as trade-led growth, supply chains and financialization, One World Mania reveals the many problems that over-globalization has caused, often at great human cost.An indispensible guide for anyone wishing to understand the shortcomings of current global economic policies.

Transnational Cooperation: An Issue-Based Approach presents an analysis of transnational cooperation or collective action that stresses basic concepts and intuition. Throughout the book, authors Clint Peinhardt and Todd Sandler identify factors that facilitate and/or inhibit such cooperation. The first four chapters lay the analytical foundations for the book, while the next nine chapters apply the analysis to a host of exigencies and topics of great importance. The authors use elementary game theory as a tool for illustrating the ideas put forth in the text. Game theory reminds us that rational actors (for example, countries, firms, or individuals) must account for the responses by other rational actors. The book assumes no prior knowledge of game theory; all game-theoretic concepts and analyses are explained in detail to the reader. Peinhardt and Sandler also employ paired comparisons in illustrating the book's concepts. The book is rich in applications and covers a wide range of topics, including superbugs, civil wars, money laundering, financial crises, drug trafficking, terrorism, global health concerns, international trade liberalization, acid rain, leadership, sovereignty, and many others. Students, researchers, and policymakers alike have much to gain from Transnational Cooperation. It is a crossover book for economics, political science, and public policy.

Growing international trade has helped lift living standards around the world, and yet free trade is always under attack. Critics complain that trade forces painful economic adjustments, such as plant closings and layoffs of workers, and charge that the World Trade Organization serves the interests of corporations, undercuts domestic environmental regulations, and erodes America's sovereignty. Why has global trade—and trade agreements such as NAFTA—become so controversial? Does free trade deserve its bad reputation?In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that litter the debate over trade and gives the reader a clear understanding of the issues involved. This fourth edition has been thoroughly updated to include the most recent policy developments and the latest research findings on the impact of trade.

With Cold War politics lost as the organizing principle behind international politics, development has become the most import policy goal of every international organization. There is an underside (and a human side) to development, and feminism has made inroads into the highly technical debates and frothy prophecies by examining what the future really holds for the people who will live it. This book highlights the ways in which feminist analysis has contributed to a richer understanding of international development and globalization. By combining theoretical, empirical, and political perspectives and discussing cutting-edge debates around development, globalization, economic restructuring, and feminist economics, Gender, Development and Globalization presents the ultimate primer on global feminist economics.

In India Divided, environmental, human rights, and antiglobalization activist Vandana Shiva chronicles the internal battles of a nation that is both the world's largest democracy and a leading nuclear power. Shiva describes a society where traditional cultures collide with the new economy of globalization, and charts the course of India's war of fundamentalisms in the age of terror. From the IT centers of Bangalore to the villages of Uttar Pradesh, from the massacre at Gujarat and the popular emergence of Hindutva's narrow communalism to the decades-old battle for Kashmir, India Divided reveals a convergence of globalization and terrorism. Looking to the plights of India's Dalit communities and millions of poor subsistence farmers impoverished or displaced by biotechnology, seed patents, and the spate of mega-dam projects, Shiva argues that these silent killers form a local terror unmatched in devastation. In India Divided Shiva addresses India's most urgent threats with gravity and hope.

The concept of globalization has become ubiquitous in social science and in the public consciousness and is often invoked as an explanation for a diverse range of changes to economies, societies, politics and cultures - both as a positive liberating force and as a wholly negative one. Whilst our understanding of the politics, economics, and social resonance of the phenomenon has become increasingly sophisticated at the macro-level, this book argues that globalization too often continues to be depicted as a set of extra-terrestrial forces with no real physical manifestation, except as effects. The essays challenge this dominant understanding of'globalization from above'through explorations of the mundane means by which globalization has been achieved. Instead of a focus on the meta-political economy of global capitalism, the book concentrates on the everyday life of capitalism, the not-so-'little'things that keep the'large'forces of globalization ticking over. With its eye on the mundane, the book demonstrates that a series of everyday and, consequently, all but invisible formations critically facilitate and create the conditions under which globalization has flourished. The emphasis is on concrete moments in the history of capitalism when these new means of regular reproduction were invented and deployed. Only by understanding these infrastructures can we understand the dynamics of globalization. In short, punchy essays by distinguished researchers from across a range of disciplines, this book provides a new way of understanding globalization, moving away from the standard accounts of global forces, economic flows, and capitalist dynamics, to show how ordinary practices and artefacts are crucial elements and symbols of globalization.

Investigations of the propagation and influence of global shocks among the economies of developed and developing countries.One lens through which to view global economic interdependence and the spillover of shocks is that of decoupling (and then recoupling). Decoupling between developed and developing countries can be seen in the strong economic performance of China and India relative to that of the United States and Europe in the early 2000s. Recoupling then took place as developing countries sank along with the developed world during the deepening financial crisis of 2008. This volume examines patterns of global economic interdependence and the propagation of shocks in an increasingly integrated world economy.The contributors discuss such topics as the transmission of exogenous shocks; causes of business cycle synchronicity; the differences between global and regional shocks; the South-South trade relationship and its effect on decoupling; vertical specialization and Mexico's manufacturing exports; growth prospects in China, the United States, and Europe after the financial crisis; and the evolving role of the U.S. dollar in international monetary architecture.ContributorsHelge Berger, Rossella Calvi, Yin-Wong Cheung, Gianluca Cubadda, Justino De La Cruz, Filippo di Mauro, Michael Dooley, Eiji Fujii, Linda S. Goldberg, Barbara Guardabascio, Alain Hecq, Hideaki Hirata, Robert B. Koopman, M. Ayhan Kose, Marco J. Lombardi, Steven Lugauer, Nelson C. Mark, Volker Nitsch, Christopher Otrok, Tuomas Antero Peltonen, Gabor Pula, Pierre L. Siklos, Zhi Wang, Shang-Jin Wei, Frank Westermann

Along with its painful economic costs, the financial crisis of 2008 raised concerns over the future of international policy making. As in recessions past, new policy initiatives emerged, approaches that placed greater importance on protecting national interests than promoting international economic cooperation. Whether in fiscal or monetary policies, the control of currencies and capital flows, the regulation of finance, or the implementation of protectionist policies and barriers to trade, there has been an almost worldwide trend toward the prioritizing of national economic security. But what are the underlying economic causes of this trend, and what can economic research reveal about the possible consequences? Prompted by these questions, Robert C. Feenstra and Alan M. Taylor have brought together top researchers with policy makers and practitioners whose contributions consider the ways in which the global economic order might address the challenges of globalization that have arisen over the last two decades and that have been intensified by the recent crisis. Chapters in this volume consider the critical linkages between issues, including exchange rates, global imbalances, and financial regulation, and plumb the political and economic outcomes of past policies for what they might tell us about the future of the global economic cooperation.

In an era of globalization, no country can be an island disconnected from the rest of the world and small states are now integrated in the global economy. The analysis in this book shows that the experiences of small states can be valuable for other countries but at the same time, small states can be vulnerable. This book discusses several issues that are of global importance and analyzes how small states are affected, why they can be vulnerable and how their experiences can be beneficial globally, including for larger states. The issues discussed include the 2008 global economic and financial crisis; governance issues and vulnerabilities in small states with small institutions and limited administrative capacity; international development cooperation; and how small states can contribute to the global transition to clean energy.

Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan - Concentrates on post-crisis roles of emerging markets in the global economy - Reports on key theoretical and technical developments in emerging financial markets - Forecasts future developments in linkages among developed and emerging economies

The term globalization arouses different feelings. Some people regard it with fear; others consider it the incarnation of a new time – a time when the relations between different cultures and parts of the world intensify increasingly. Consequently, the term is not only used to explain highly diverse phenomena but also to shed light on the alleged darkness of a world in change. In this collective volume, scientists from different academic disciplines and regions of the world wanted to make available their perceptions of this ample term to a broader audience. Twenty contributions comprising nine academic disciplines depict the process of the growing together of the world via different approaches. Apart from the contributions from historians, the reader will find articles from the fields of philosophy, architecture, economics, sociology, political science, journalism, anthropology, and law. This is to offer the reader a small insight into the variety of research about globalization and may contribute to a better understanding of this phenomenon that is treated differently in diverse academic disciplines and different parts of the world.

Globalization raises important questions about the governing capacity of domestic institutions. In Globalization and Governance, Jon Pierre studies the impact of international norms and prescriptions on domestic governance in Japan, Sweden and the United States.The empirical analysis is focused on economic governance, administrative reform and intergovernmental relationships. Drawing on survey data, documents and interviews, the analysis finds that domestic institutions still intrinsically shape domestic governance. International norms towards deregulation and market-based administrative reform confront domestic institutions with prescriptions for reform but the three countries provide only very few examples of unmitigated domestic implementation. What Jon Pierre calls'the microfoundations of globalization'-the assessment, adoption or rejection of international norms and ideas in vogue-is a complex process where domestic institutions and path dependencies remain at the helm. The most important exception to this pattern is governance during financial crises where countries are dependent on conditioned support from transnational institutions.This insightful and informative book will appeal to researchers, academics, post-graduate, as well as undergraduate, students in governance, political economy and international relations.Contents: 1. Globalization and the State 2. Globalization and Domestic Governance 3. Still Governing the Economy? Economic Governance 4. Cities and Regions in a Globalized World: Inter-Governmental Relationships 5. Modernizing the State: Administrative Reform 6. Conclusions: Domestic Governance in a Globalizing World References Index

The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. - Substantial articles by top scholars sets this volume apart from other information sources - Rapidly developing subjects will interest readers well into the future - Reader demand and lack of competitors underline the high value of these reference works

Today's news media displays an intense fascination with the global economy—and for good reason. The degree of worldwide economic integration is unprecedented, and rising globalization has lifted living standards and reduced poverty. Foreign markets and new technologies continue to present opportunities for entrepreneurs and corporations. Still, economic shocks can spread across the world in minutes, impacting billions of lives. This book will help you learn about economics in everyday language, using little or no math, giving you better tools to interpret current events as well as long-term economic and political developments. Modern economics offers a powerful framework for understanding globalization, international trade, and economic growth. You may possess years of hands-on experience dealing with business cycles and foreign competitive pressures, but lack a solid grounding in economic concepts that shed light on the forces of globalization. This book is here to help.

The recent global financial crisis has challenged conventional wisdom, and our conception of globalization has been called into question. This challenging and timely book revisits the relationship between globalization, the crisis and the state from an interdisciplinary perspective, with law, economics and political science underpinning the analysis.The expert contributors consider the Washington Consensus and its aftermath across Australia, China, the EU, New Zealand and South Africa in light of the financial crisis, encompassing public policy issues including banking reform, privatisation and state owned enterprise. The clash between market and state capitalism and the response of market capitalism to the crisis are also explored.This book draws together truly multidisciplinary discussions of the main issues for contemporary society in the face of globalization, and defines how these issues relate to each other. As such, it will prove a stimulating read for academics, researchers, postgraduate students and policymakers with an interest in law, economics and politics.Contributors: M. Ariff, T. Booth, L. Boulle, J. Bröhmer, J. Chen, J.H. Farrar, G.A. Hodge, C.-C. Huang, D.G. Mayes, A. Noon, L. Parsons, M. Regan, C.D. Stoltenberg, S. Watson, M. Wilson, X. Yang

Using the frameworks of systems theory, modernization, and the world system, New Age Globalization presents a composite multilevel, multidirectional picture of globalization informed by eight different but interdependent subsystems.

This book, the fourth volume in the McGill International Entrepreneurship Series, brings together 27 top scholars to explore the structural complexities, evolving relations and dynamic forces that are shaping a new system of multi-polar, multi-level international business relations. It examines entrepreneurial efforts and relations in different national and corporate cultures, each embedded in and also constrained by country-specific socio-economic structures and each vying for consumer attentions in competitive global markets.The new millennium has experienced much rapid change, much of it implicit, intangible and not covered by the headlines of the popular press. The bipolar business system of the 20th century that prioritized the relationship between firms and consumers of developed countries is giving way to an emerging multi-polar and multi-level international system that considers consumers and companies in developing economies as well. In this book, scholars from around the world analyze the nascent architecture and relations in this quickly evolving system. They explore the structural complexities, evolving relations, and dynamic forces that are shaping and re-shaping the new system and examine entrepreneurial efforts and relations that cement its structure. The chapters in this volume portray the operating conditions of firms across 14 emerging country environments and industries ranging from basic foods and information technology to complex business processes.Students and professors of international business, entrepreneurship, marketing and management studies will find this volume an indispensable addition to the literature.Contributors: C.F. Agapito, D. Bek, T. Binns, K. Brydon, W. Coyle, L.-P. Dana, E. Dmitrienko, U. Dornberger, H. Etemad, C. Felzensztein, T. Galkina, F. Ghanatabadi, C. Keen, D. Khanduja, K.K. Leung, R.B. McNaughton, V. Minina, M.N.U. Nabi, E. Nel, J. Olavarría, C. Richardson, A. Shatalov, G. Shirokova, R. Singh, J.A. Sy-Changco, T. Vissak, M. Yamin

Why businesses should never underestimate the power of place. Today's business leaders are so obsessed with all things global and virtual that they risk neglecting the critical impact of physical place. It's a paradox of the Internet age: now that it's possible for businesses to be everywhere at once, they need to focus on what it means to be one specific place at a time.The best global brands, from IBM to McDonald's, are by design also the leading local brands. For instance, your decision to patronize Starbucks will depend on whether it's the best local coffee shop in your neighborhood, not on how many thousands of global locations it has.Marketing experts John Quelch and Katherine Jocz offer a new way to think about place in every strategic decision-from how to leverage consumer associations with locations to where to position products on the shelf. They explore case studies such as Nike and The Apple Store, which use place in creative ways.Drawing on a blend of hard data and engaging anecdotes, this book will help any business-from global mega-brands to boutique, small town stores- influence customers more effectively.