27. Global trade and global finance

2019 ◽  
pp. 435-448
Author(s):  
Matthew Watson
Keyword(s):  
Developing Countries ◽  
Global Economy ◽  
The Other ◽  
Global Trade ◽  
Economic Governance ◽  
Global Finance ◽  
Tax Havens ◽  
The Us ◽  
The World ◽  
Global Economic Governance

This chapter explores important issues in the conduct of global trade and global finance. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with the ongoing trade war between the US and China and the other with the effect of tax havens on overseas aid budgets. There is also an Opposing Opinions box that addresses the question of how far the institutions of global economic governance currently go to work specifically to the benefit of developing countries.

28. Global trade and global finance

2016 ◽  
Author(s):  
Matthew Watson
Keyword(s):  
Global Economy ◽  
The United States ◽  
Global Trade ◽  
The European Union ◽  
Global Finance ◽  
Occupy Movement ◽  
Transatlantic Trade ◽  
The World ◽  
Trade And Investment ◽  
Global Economic Governance

This chapter explores important issues in the conduct of global trade and global finance. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with comparative advantage theory in historical perspective and the other with the Occupy movement. There is also an Opposing Opinions box that addresses the question of whether the Transatlantic Trade and Investment Partnership between the United States and the European Union will provide enhanced opportunities for economic development around the world in a way that the World Trade Organization system now cannot.

scholarly journals China’s Challenge to the Institutions of Global Governance and US Soft Power

2020 ◽  
Vol 5 (1) ◽  
pp. 73-83
Author(s):  
Evan Oddleifson
Keyword(s):  
Developing Countries ◽  
Global Governance ◽  
Soft Power ◽  
World Trade Organisation ◽  
Global Politics ◽  
Economic Governance ◽  
The Us ◽  
The International Monetary Fund ◽  
Global Economic Governance

China stands on the brink of surpassing the US in material capability and is pushing the world towards an increasingly multipolar order. This paper assesses the constraints on the growth of China's non-coercive influence in global politics. However, the constitutional groundings of global economic governance in US ideology and their institutional stickiness make China’s prospects of altering the mandates and structures of the IMF, WB, and WTO highly unlikely. Furthermore, by examining the outcomes of China's lending strategies in developing countries using Angola as a case study, this paper highlights China's inability to supplant growing IMF and WB agreements in developing countries and their failure to institutionalize their influence in partner countries. In sum, this paper concludes that liberal values, and by extension the non-coercive influence of the US, are likely to be upheld during China's rise by the institutions of global governance, namely the International Monetary Fund, World Bank, and World Trade Organisation.

Searching for new Sources of growth. Are the Developing Countries Catching up with the Developed ones?

2015 ◽  
pp. 30-53
Author(s):  
V. Popov
Keyword(s):  
Developing Countries ◽  
Western Europe ◽  
Gdp Per Capita ◽  
The West ◽  
Catching Up ◽  
The Us ◽  
The World ◽  
Economic Divergence ◽  
Per Capita ◽  
Relative Standing

This paper examines the trajectory of growth in the Global South. Before the 1500s all countries were roughly at the same level of development, but from the 1500s Western countries started to grow faster than the rest of the world and PPP GDP per capita by 1950 in the US, the richest Western nation, was nearly 5 times higher than the world average and 2 times higher than in Western Europe. Since 1950 this ratio stabilized - not only Western Europe and Japan improved their relative standing in per capita income versus the US, but also East Asia, South Asia and some developing countries in other regions started to bridge the gap with the West. After nearly half of the millennium of growing economic divergence, the world seems to have entered the era of convergence. The factors behind these trends are analyzed; implications for the future and possible scenarios are considered.

POSTINDUSTRIALIZATION AND DEINDUSTRIALIZATION IN THE GLOBAL ECONOMY IN THE CONTEXT OF RUSSIA'S ECONOMIC SECURITY

2021 ◽  
Vol 5 (199) ◽  
pp. 9-17
Author(s):  
V.A. Noskov ◽  
Keyword(s):  
Developing Countries ◽  
National Security ◽  
Global Economy ◽  
Industrial Development ◽  
World Economy ◽  
Import Substitution ◽  
Economic Security ◽  
Regional Features ◽  
The World ◽  
Post Industrial

The purpose of the publication is to assess the world experience of post-industrial development and deindustrialization in the economies of both developed and developing countries. The importance of the crisis of the post-industrial paradigm for the development of the world economy, the application of this experience in the process of import substitution and the unfolding reindustrialization in Russia is noted. The analysis of the world experience of post-industrial development and deindustrialization of the economy, its macro-regional features is carried out in the context of maintaining and developing Russia's economic security. The author's understanding of the problems and prospects of the development of import substitution and reindustrialization processes in the world is proposed. Import substitution is considered as part of the strategy of economic development and ensuring the national security of the country. It is proposed to build recommendations for improving the policy of import substitution and reindustrialization carried out by Russia, taking into account the author's developments.

Investment in the agricultural sector as a way to solve food security problems in developing countries: the example of investment activity of the US agribusiness

2021 ◽  
Author(s):  
Elena Stepanovna Ustinovich ◽  
Tatyana Petrovna Boldyreva
Keyword(s):  
Developing Countries ◽  
Large Scale ◽  
Agricultural Sector ◽  
International Investment ◽  
Investment Activity ◽  
Agricultural Investment ◽  
Wide Range ◽  
The Us ◽  
The World ◽  
Potential Benefits

It is clear to everyone that investment in the agricultural sector in developing countries is one of the most effective ways to reduce poverty and hunger in the world. Agricultural investment can generate a wide range of development opportunities. However, these benefi ts cannot be expected to arise automatically. Some forms of large-scale investment pose significant risks to investor states. It should be noted, however, that, despite discussions about the potential benefits and risks of international investment, there is still no evidence of negative actual consequences for the countries receiving investments. This article examines the issues of investment activity in relation to developing countries using the example of US agribusiness entities.

United States and Its Challenge to Multilateralism in the Global Economy

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.
Keyword(s):  
United States ◽  
Global Economy ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Bilateral Trade ◽  
Developing Economies ◽  
The United States ◽  
The Us ◽  
The World ◽  
Merchandise Trade

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

scholarly journals KONSEP HAK MILIK DALAM EKONOMI ISLAM

2017 ◽  
Vol 9 (2) ◽  
pp. 189-207
Author(s):  
AN Ras Try Astuti ◽  
Andi Faisal
Keyword(s):  
Developing Countries ◽  
Social Justice ◽  
Economic System ◽  
The Other ◽  
Private Ownership ◽  
The Poor ◽  
The World ◽  
Joint Ownership ◽  
The Rich ◽  
The Individual

Capitalism as an economic system that is implemented by most countries in the world today, in fact it gave birth to injustice and social inequalityare increasingly out of control. Social and economic inequalities are felt both between countries (developed and developing countries) as well as insociety itself (the rich minority and the poor majority). The condition is born from the practice of departing from faulty assumptions about the man. In capitalism the individual to own property released uncontrollably, causing a social imbalance. On the other hand, Islam never given a state model that guarantees fair distribution of ownership for all members of society, ie at the time of the Prophet Muhammad established the Islamic government in Medina. In Islam, the private ownership of property was also recognized but not absolute like capitalism. Islam also recognizes the forms of joint ownership for the benefit of society and acknowledges the ownership of the state that aims to create a balance and social justice.

scholarly journals HORIZONS OF RESEARCH IN GEOGRAPHY OF THE WORLD ECONOMY

HERALD ◽  
2017 ◽  
Vol 8 (20) ◽  
Author(s):  
Vladimir Alexandrovich Kolosov ◽  
Elena Alexandrovna Grechko ◽  
Xenia Vladimirovna Mironenko ◽  
Elena Nikolayevna Samburova ◽  
Nikolay Alexandrovich Sluka ◽  
...  
Keyword(s):  
Developing Countries ◽  
Division Of Labor ◽  
Global Economy ◽  
World Economy ◽  
Spatial Organization ◽  
Modern World ◽  
High Tech ◽  
Research Activities ◽  
The World ◽  
The Impact

The advent of "world economic transition" and the formation of a multipolar world is closely linked, according to experts, with loss of globalization advances, which strengthens regionalism, increases diversification and fragmentation of the modern world, creating risks and threats to the world development. In this light studying the spatial organization of the global economy becomes more important, and at the same time that complicates the choice of priorities in the research activities of the Department of geography of the world economy, Faculty of Geography, Moscow State Lomonosov University in 2016-20, requiring a new research “ideology”. The article summarizes some ideas expressed by the department staff. It specifies that concept of territorial division of labor, as well as the defined set of key actors in the world economy and common assumptions regarding their contributions to its development needs a significant revision. The above firstly concerns giant developing countries, in particular rapidly growing China – a kind of locomotive entraining other developing states. Further, the impact of multinationals on the overall architecture and the territorial organization of the global economy becomes more and more tangible. This phenomenon requires the creation of a new scientific area of concern – the corporate geography as a tool to thoroughly investigate the transnational division of labor. Changes in the balance of acting forces are closely related to changes in industry composition and spatial organization of the global economy. The article raises the issues of development of such processes as tertiarization of the economy, reindustrialization and neoindustrialization, the latter being understood as an evolutionary transition to a knowledge-intensive, high-tech, mass labor-replacing and environmentally efficient industrial production. Basing on preliminary research from the standpoint of a relatively new methodological approach – formation of value chains – the vector of "geographical transition" " in their creation from developed to developing countries was designated. This means increasing complexity of the territorial structure of the world economy and an increase in the importance of semi-periphery. A spatial projection of globalization processes in the form of emerging “archipelago of cities”, which consolidates the international network of TNCs as the supporting node frame of the global economy requires close attention and analysis. The need of comprehending the study scope in the field of geography of the world economy in medium Atlas Information Systems (AIS), which in terms of functionality belong to the upper class of electronic atlases, is noted.

Economic Policy and World Organization

2011 ◽  
Vol 10 (1) ◽  
pp. 194-212
Author(s):  
Asaf Bar-Tura
Keyword(s):  
Developing Countries ◽  
Economic Policy ◽  
Fair Trade ◽  
Local Communities ◽  
Trade Policies ◽  
Economic Governance ◽  
World Poverty ◽  
World Organization ◽  
Global Arena ◽  
Global Economic Governance

AbstractThe global economic crisis and the responses to it have brought to the fore questions of sovereignty and cosmopolitanism. In a world so interlinked, what is the proper way to order the global arena, politically and economically? This essay examines Habermas’ multilayered approach to world organization, as well as Pogge and others. Focusing on the question of trade policies, I argue (contra Habermas) for robust global economic governance policies, but (contra Pogge) that these policies should uphold fair trade instead of free trade. This approach has the advantage of alleviating world poverty while at the same time strengthening local communities in developing countries. To this effect, I show why borders should matter more when it comes to capital, and less when it comes to people.

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