Economic Integration.....

I feel that this class is going well. Group 3 was very good in trying to understand the difference between economic globalisation and economic integration, or at least the view I presented to them - but always remember to refute what you don´t agree with, and try to justify your point of view - healthy debate is good!

The point I most want to reinforce is that I was presenting economic integration as one of the many DRIVERS of globalisation - hence, I don´t see them as the same, but instead I see globalisation and this interconnectedness as being driven by the free-trade ideal in which we live, where countries are attempting to bring down trade barriers between themselves.

I presented the various stages to you, from the first step of a "Free Trade Area" - that is your NAFTA - up to "Economic Union," which many believe the best example is the European Union with its single currency. Remember we discussed how interesting it was to have "Political Union" at the end of the scale, reminding us that there are "consequences" to these economic decisions that countries make - in line with "Spillover theory."

I appreciate that these ideas could be making your head spin, hence this post to clarify some things for you, and invite you to write your own posts reflecting your understanding of this class.
I leave you with this interesting image that I found on the internet, and quotation from Jack Welch, in relation to our topic......what do you think the picture is telling us about the characteristics of globalisation?

"Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas" - Jack Welch

Have a good weekend!