LibGuides: SOC-3010 Global Civics: Week 6 Resources

Week 6 Resources

Review the resources listed below to prepare for this week’s assignments. The resources may include textbook reading assignments, journal articles, websites, links to tools or software, videos, handouts, rubrics, etc.

Globalization and Economic Growth Performance in Developing Countries

Developing countries may be at a disadvantage with regards to participating in global markets. This article reviews the impact of globalization on developing countries.

Globalization and Economic Growth Performance in Developing Countries The architects of globalization continue to argue that globalization has dramatically improved the standards of living in countries that have endorsed it. Today, many observers still argue that globalization has only succeeded in destabilizing the economies of developing countries rather stabilizing them. Therefore this paper analyzed the impact of globalization on economic growth in developing countries. The analysis showed that globalization and trade liberalization has led to poor economic growth performance in developing countries. Hence, it is recommended that governments of developing countries should adopt sound macroeconomic policies that will bring their economies back on the track of sustainable growth. A stable macroeconomic environment will create more jobs, raise income and reduce inflation, stabilize their currencies and foster economic growth and development

Gbosi, A. (2019). Globalization and economic growth performance in developing countries. International Journal of Global Business, 12(1), 29-34. https://search.ebscohost.com/login.aspx?authtype=shib&custid=natuniv&direct=true&db=bth&AN=138334883&site=eds-live

The Globaliser Dragon: How is China Changing Economic Globalisation?

The article presents China and its growth as a significant player in the global space, particularly regarding global economics and China’s impact on the markets.

The Globaliser Dragon: How is China Changing Economic Globalisation? There are many studies on the effects of both economic globalisation and the rise of China. These core issues of the contemporary international agenda entail major economic, military, environmental, social and cultural transformations in most nations. While there is also an abundant literature on how globalisation supported the rise of China, there are scarce publications on how China became one of the primary drivers of globalisation. This article assumes that understanding the power of globalisation over countries is as crucial as assessing the power of certain countries over the process. In this sense, it uses the recently created 'theory of globalisers' to analyse how is China transforming contemporary economic globalisation. The conclusion is that China became an 'economic globaliser' in the twenty-first century. As the largest exporter, the second largest importer, the third largest provider of foreign direct investments, and a major supplier of high-tech goods, the Asian giant is a vital partner for several economies in different continents. In this context, Beijing's globalisation strategy aims at both securing the benefits of globalisation and reforming the international economic order, but without a revolutionary stance.

Trinidad d’ Avila Magalhaes, D. (2018). The globaliser dragon: how is China changing economic globalization? Third World Quarterly, 39(9), 1727-1749. https://search.ebscohost.com/login.aspx?authtype=shib&custid=natuniv&direct=true&db=bth&AN=133694831&site=eds-live

Three Decades of Globalisation: Which Countries Won, Which Lost?

Globalization has not been even for all countries. This article explores the expanse of globalization among the various countries of the world.

Three Decades of Globalisation: Which Countries Won, Which Lost? The world average exports‐to‐GDP ratio increased from 17% in 1985 to 27% in 2015. Hence, world exports have grown much faster than world GDP. However, despite this overall trade integration, which is a key aspect of globalisation, the exports‐to‐GDP ratios have declined for 29 of the 118 countries with such data from 1985 to 2015. Some countries have been driving globalisation, while others have become marginalised. This paper examines three decades of globalisation to shed some light upon which countries might be considered winners and which countries might be considered losers of globalisation. After summarising the evolution of income and income per capita, we examine the evolution of exports and net inflows of foreign direct investment (FDI). Contradictory to previous decades, we show there are now many countries from all income groups that have either experienced marginalisation or been driving globalisation. We then use novel regression analysis to review the robustness of generally accepted drivers of globalisation and marginalisation, with education and macroeconomic stability being the two most robust determinants.

Gunter, B., & Wilcher, B. (2020). Three decades of globalization: Which countries won, which lost? World Economy, 43(4), 1076-1102. https://search.ebscohost.com/login.aspx?authtype=shib&custid=natuniv&direct=true&db=bth&AN=142812150&site=eds-live

The Dimensions of the Global Financial Crisis

A global market also means that the challenges impact all participants. The article reviews those of the Global Economic Crisis of 2007-2008, including similarities to earlier crises.

The Dimensions of the Global Financial Crisis The Global Economic Crisis has shaken the global economic system to the ground determining the economists all over the world to try hard to get the causes and mechanisms of the crisis right. Worldwide timing impact of the crisis was caused by the deterioration of aggregate demand, the uncertainty of the business environment, the rate offinancial constraints and market collapse of assets. Considering that the current crisis featured some close similarities to earlier ones we try to answer two questions of the major global crisis: what are the similarities and how costly is the current crisis.

Craciun, L., & Ochea, M. (2014). The dimensions of the global financial crisis. Theoretical & Applied Economics, 21(1), 121-130. https://search.ebscohost.com/login.aspx?authtype=shib&custid=natuniv&direct=true&db=bth&AN=94617504&site=eds-live