EP 06 PT 3 Globalization and development, 1995 to now – rhetoric or reality?
Globalization is the economic integration of trade, production and finance on a world scale. Principally demonstrated by an increasing trade-intensity of production, an increasing share of foreign direct investment in production, and an increasing share of portfolio investment in production, globalization is strongest in the production of manufactured goods that are increasingly assembled in the global factories that serve as the coordinates of international supply network. However, the slowdown in globalization that has happened since 2008 begs the question: is globalization inevitable? And if it is not, is it uniformly good?
Part 3 of this Episode dissects the corporate power that has accrued to transnational corporations and the implications of that power.