The EU: Leading the way or just an imploding bomb?

During the course of this class, we have all seen the benefits that can be attained if we achieve a level of integration such as the one from the EU. With no borders, countries can work with each other in order to make improvements and contribute to an ever-extending globalised society.

However, we also have to think about the negative aspects of said union. For example: we all know that the EU has very specific criteria for countries who want to join, like being a democracy and some other things. But what happens when a country who fulfilled that criteria goes bankrupt? It would borrow lots of money from the union, which could severely affect the most powerful and wealthy countries. We can also cite examples of countries that benefit a lot from said unions, but do not give enough in return, such as the countries in Eastern Europe.

All in all, the EU is leading the way for the rest of the world in terms of integration, be it economical, social or political. But before thinking integration of that kind may be the future, we have to wonder: could it transform itself into an imploding bomb in the long run, making the problems it tried to solve even worse?

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Globalisation

Globalisation is a term in which it describes many different fields of life, like economy, culture, politics, environment, communication and more aspects among countries.I think that globalization really helps our world in many aspects: It has opened up many communication lines and brought more companies at the worldwide. This provides opportunities for a lot of people who are becoming a larger part of the workforce. It helps us economically because of these companies and technology.I also think that it has helped us communicate better, because of globalization we have learned to communicate with people from other places who don't know the language we speak in. And it is good because if we didn't communicate with other countries, our country would probably been taken over by another.Globalisation also has it negative effects: It destroys the nationality of every country, not completely but the countries change a lot because of this. People change their lifestyle because of many aspects, but mostly because our environment is affected by other countries’ with poor regulation pollution.

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China & India, "Two Economic Monsters"

We've all heard that China is becoming one of the most powerful countries, economically speaking, yet there is another country who does not want to be left behind, and it is a country not everybody is aware of; India.

Both countries have somehow found a way to improve their economic situation across the years. But, how have they done this?...

We can say China's Economic improvement started after 1978, after World War II was over. Before this, China's average growth per year was of roughly 6 percent a year. After 1978, it's average growth was of about 9 percent. There were also several years that it reached 13 percent of average growth.

Even today their economy is still on the rise. Though, today, China's impressive GDP growth might face a few threats, such as: Undervalued Currency, Nonperforming Bank Loans, Inefficient state-owned prices, and growing income disparities.But still, there is another fact, development, both economical and social in China go hand to hand; what used to be the lower classes can now we considered middle class. The countries' infrastructure has been improved as well, and there is a chance that China could stop being just a "very large industry" that supplies treats all over the world.This issue has created a worldwide doubt... Will China become a threat to the world? Especially, for its major rival, The United States.

"Per capita income has nearly quadrupled in the last 15 years, and a few analysts are even predicting that the Chinese economy will be larger than that of the United States in about 20 years". Say Zuliu Hu & Mohsin S. Khan in their article "Why is China Growing so Fast"

For more information visit this link: [http://www.imf.org/EXTERNAL/PUBS/FT/ISSUES8/INDEX.HTM]

China and India are countries recognized by all the world. Their economic growth has been really fast in the last century. Both countries have developed their economic situation using infrastructure, low labor and high trading range to raise their position in comparison with other power countries. Indiaprincipally started to trade with high industry products, not only with products of rawmaterial.This is how their numbers have increased since 1980.

To know more about the way India's economy has being managed visit: [http://www.indianchild.com/india_economy_growth.htm] and

[http://www.economywatch.com/indianeconomy/indian-economy-overview.html]

- Globalisation, a current issue.

How positive can Globalisation be? What are it's negative aspects?

In one hand, globalisation has really opened doors to new cultures in different countries. It is easy now to see anItalianin Mexico, a French in Tokyo or a Mexican in Los Angeles (haha).

Trading opportunities has also being encouraged by this matter. Countries are now basing its economy a little bit more in trading than they used to.

Also the appearance of new technologies thanks to globalisation, although most of the time you read in tags "Made in China", "Made in Japan", "Made in Taiwan" etcetera. But still, it has become a positive aspect in countries development.

But Globalisation is still not a fairytale. The mixing of cultures is slowly "destroying" them. This new technologies, well, if you've seen the film "I Robot", you might think about it twice before having a robot doing your chores.

Another issue of globalisation is the fact that countries have become more and more dependent to each other; and this, in the long run, could become worse.

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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!

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Global Economic Cooperation....G20 Meeting on the way!

I am not going to keep my pleasure a secret! How fitting that we are discussing globalisation and economic integration, whilst under our very noses and in front of our eyes we are witnessing economic events whose impacts are expected to be long-lasting, and perhaps fundamentally change the very nature of the economic system in which we live.

We talk about globalisation, and if you like, you may now say that even regulation is becoming globalised - countries, in the wake of the economic crisis, want to work together more and more, to prevent future problems. Such acts can only serve to economically integrate countries further, albeit without a formal document or agreement.

So my pleasure stems from the fact that all what I speak about in class can be directly connected to the world around us - we are not looking at history, nor are we looking at the future, but today Ladies and Gentlemen. Always take the chance to read and passively learn more - even if you don´t understand everything, constant exposure helps you build knowledge.

A new era of global economic co-operation.


This article written by the British Prime Minister Gordon Brown discusses his (and we can assume the British people) views on what must be done at the upcoming G20 meeting. I want to draw your attention to two parts:

"Now is not the time to lose our focus, however – the recovery is not automatic – rather it is the moment to redouble our efforts. We must not switch off the life support we are giving to our economies. People are still losing their jobs, their homes and – in some cases – their hope and we must not fail them. Complacency is the enemy of recovery.

So at next week's G20 Summit in Pittsburgh concerted international co-operation is again required. To this end, I am proposing a new global compact to entrench economic recovery and secure stability, growth and jobs."


Here, he proposes his idea for a "global compact." Later, he goes on to say......

"Our international financial institutions have a vital role in supporting this drive to recovery and growth, so I have been consulting widely within the G20 and beyond to develop proposals on modernising them.

They must be better placed to meet the challenges of globalisation, promote sustainable global growth and prevent and respond to future crises."

And there you have the connection with globalisation. You see how international institutions, economic globalisation, and the world economy in general, are all connected?

Comments on this article, and an exploration of your own thoughts, are as always most welcome.

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Economic integration = Utopia....?

After today's class I have been thinking about economic integration. Is it really better that way or is it just a shortcut for problems. I think it will be better if we could discuss this a little more. I know that in class we do not have enoguh time but we can use this cyber-space(blog) to create kind of a forum inside a post.

What i have to say about economic integration is that maybe it has worked for some countries, but we can not be sure if it will make a better good for us(considering USA, Mexico & Canada). I think that as higher as we go in the economic integration pyramid we are trying to reach a Utopia.(Utopia is an ideal perfect state; especially in its social and political and moral aspects) This definition was found in the Princeton dictionary; are there any risks in reaching an Utopia. I personally think that an Utopia will at certain point make us lose our culture, but if handled correctly we could make an utopia that will create a perfect cultural melting pot.

I would like to hear different points of view so please COMMENT!

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GLOBALIZATION CARTOON

FOR YOU WHAT IS GLOBALIZATION?

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Globalization or Cultural Imperialism

THE GREAT DEBATE

GLOBALIZATION:describes an ongoing process by which regional economies, societies and cultures have become integrated through a globe-spanning network of exchange. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.[

CULTURAL IMPERIALISM: is the practice of promoting, distinguishing, separating, or artificially injecting the culture of one society into another. It is usually the case that the former belongs to a large, economically or militarily powerful nation and the latter belongs to a smaller, less important one.

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BBC video about Globalisation...

This is a video I found about the effects of globalisation in our planet, with a special focus on the environment and its protection. It was made by the BBC and directed by Sharron Ward.

It makes some interesting remarks about how industry affects the climate and the environment, but it also mentions how they could use the same types of technology to get rid of wastes and to use everything more efficiently. Keep an eye out for the part where they say that big industries can refocus their efforts and transform residuals into something useful. It may be a great idea for the future, if we can put it together...

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