世界经济ch1globaliza

Chapter1,Globalization,1-2,WhatIsGlobalization?,Theworldismovingawayfromself-containednationaleconomiestowardaninterdependent,integratedglobaleconomicsystemGlobalizationreferstotheshifttowardamoreintegratedandinterdependentworldeconomy,1-3,WhatIsTheGlobalizationofMarkets?,HistoricallydistinctandseparatenationalmarketsaremergingItnolongermakessensetotalkaboutthe“Germanmarket”orthe“Americanmarket”Instead,thereisthe“globalmarket”fallingtradebarriersmakeiteasiertosellgloballyconsumerstastesandpreferencesareconvergingonsomeglobalnormfirmspromotethetrendbyofferingthesamebasicproductsworldwide,1-4,WhatIsTheGlobalizationofProduction?,Firmssourcegoodsandservicesfromlocationsaroundtheglobetocapitalizeonnationaldifferencesinthecostandqualityoffactorsofproductionlikeland,labor,andcapitalCompaniescanlowertheiroverallcoststructureimprovethequalityorfunctionalityoftheirproductoffering,1-5,WhyDoWeNeedGlobalInstitutions?,Institutionshelpmanage,regulate,andpolicetheglobalmarketplacepromotetheestablishmentofmultinationaltreatiestogoverntheglobalbusinesssystemExamplesincludetheGeneralAgreementonTariffsandTrade(GATT)theWorldTradeOrganization(WTO)theInternationalMonetaryFund(IMF)theWorldBanktheUnitedNations(UN),1-6,WhatDoGlobalInstitutionsDo?,TheWorldTradeOrganization(likeitspredecessorGATT)policestheworldtradingsystemmakessurethatnation-statesadheretotheruleslaiddownintradetreatiespromoteslowerbarrierstotradeandinvestmentTheInternationalMonetaryFund(1944)maintainsorderintheinternationalmonetarysystemTheWorldBank(1944)promoteseconomicdevelopmentTheUnitedNations(1945)maintainsinternationalpeaceandsecuritydevelopsfriendlyrelationsamongnationscooperatesinsolvinginternationalproblemsandinpromotingrespectforhumanrightsisacenterforharmonizingtheactionsofnations,1-7,WhatIsDrivingGlobalization?,Thedeclineinbarrierstothefreeflowofgoods,services,andcapitalthathasoccurredsincetheendofWorldWarIIsince1950,averagetariffshavefallensignificantlyandarenowat4percentcountrieshaveopenedtheirmarketstoFDITechnologicalchangemicroprocessorsandtelecommunicationstheInternetandWorldWideWebtransportationtechnology,1-8,DecliningTradeAndInvestmentBarriers,AverageTariffRatesonManufacturedProductsasPercentofValue,1-9,WhatDoesGlobalizationMeanForFirms?,Lowerbarrierstotradeandinvestmentmeanfirmscanviewtheworld,ratherthanasinglecountry,astheirmarketbaseproductionintheoptimallocationforthatactivityTechnologicalchangemeanslowertransportationcosts-firmscandisperseproductiontoeconomical,geographicallyseparatelocationslowerinformationprocessingandcommunicationcosts-firmscancreateandmanagegloballydispersedproductionsystemslowcostglobalcommunicationsnetworks-helpcreateanelectronicglobalmarketplacelow-costtransportation-helpcreateglobalmarketsglobalcommunicationnetworksandglobalmedia-createaworldwideculture,andaglobalmarketforconsumerproducts,1-10,TheChangingDemographicsOfTheGlobalEconomy,Therehasbeenadrasticchangeinthedemographicsoftheworldeconomyinthelast30yearsFourtrendsareimportant:theChangingWorldOutputandWorldTradePicturetheChangingForeignDirectInvestmentPicturetheChangingNatureoftheMultinationalEnterprisetheChangingWorldOrder,1-11,HowHasWorldOutputAndWorldTradeChanged?,In1960,theUnitedStatesaccountedforover40%ofworldeconomicactivityBy2008,theUnitedStatesaccountedforjustover20%ofworldeconomicactivityAsimilartrendoccurredinotherdevelopedcountriesTheshareofworldoutputaccountedforbydevelopingnationsisrisingandisexpectedtoaccountformorethan60%ofworldeconomicactivityby2020,1-12,HowHasWorldOutputAndWorldTradeChanged?,TheChangingDemographicsofWorldGDPandTrade,1-13,HowHasForeignDirectInvestmentChangedOverTime?,Inthe1960s,U.S.firmsaccountedforabouttwo-thirdsofworldwideFDIflowsToday,theUnitedStatesaccountsforlessthanone-fifthofworldwideFDIflowsOtherdevelopedcountrieshavefollowedasimilarpatternIncontrast,theshareofFDIaccountedforbydevelopingcountrieshasrisenDevelopingcountries,especiallyChina,havealsobecomepopulardestinationsforFDI,1-14,HowHasForeignDirectInvestmentChangedOverTime?,PercentageShareofTotalFDIStock1980-2007,1-15,HowHasForeignDirectInvestmentChangedOverTime?,FDIInflows1988-2008,1-16,WhatIsAMultinationalEnterprise?,Amultinationalenterprise(MNE)isanybusinessthathasproductiveactivitiesintwoormorecountriesSincethe1960s,therehasbeenariseinnon-U.S.multinationals,andagrowthofmini-multinationals,1-17,TheChangingWorldOrder,ManyformerCommunistnationsinEuropeandAsiaarenowcommittedtodemocraticpoliticsandfreemarketeconomiesso,therearenewopportunitiesforinternationalbusinessesbut,therearesignsofgrowingunrestandtotalitariantendenciesinsomecountrieslikeRussiaChinaandLatinAmericaarealsomovingtowardgreaterfreemarketreformsbetween1983and2008,FDIinChinaincreasedfromlessthan$2billionto$90billionannuallybut,ChinaalsohasmanynewstrongcompaniesthatcouldthreatenWesternfirms,1-18,HowWillTheGlobalEconomyOfThe21stCenturyLook?,TheworldismovingtowardamoreglobaleconomicsystemButglobalizationisnotinevitabletherearesignsofaretreatfromliberaleconomicideologyinRussiaGlobalizationbringsrisksthefinancialcrisisthatsweptthroughSouthEastAsiainthelate1990stherecentfinancialcrisisthatstartedintheU.S.in2008,andmovedaroundtheworld,1-19,IsAnInterdependentGlobalEconomyAGoodThing?,Supportersbelievethatincreasedtradeandcross-borderinvestmentmeanlowerpricesforgoodsandservicesgreatereconomicgrowthhigherconsumerincome,andmorejobsCriticsworrythatglobalizationwillcausejoblossesenvironmentaldegradationtheculturalimperialismofglobalmediaandMNEsAnti-globalizationprotestersnowregularlyshowupatmostmajormeetingsofglobalinstitutions,1-20,HowDoesGlobalizationAffectJobsAndIncome?,CriticsarguethatfallingbarrierstotradearedestroyingmanufacturingjobsinadvancedcountriesSupporterscontendthatthebenefitsofthistrendoutweighthecostscountrieswillspecializeinwhattheydomostefficientlyandtradeforothergoodsandallcountrieswillbenefit,1-21,HowDoesGlobalizationAffectLaborPoliciesAndTheEnvironment?,Criticsarguethatfirmsavoidcostlyeffortstoadheretolaborandenvironmentalregulationsbymovingproductiontocountrieswheresuchregulationsdonotexist,orarenotenforcedSupportersclaimthattougherenvironmentalandlaborstandardsareassociatedwitheconomicprogressascountriesgetricherfromfreetrade,theyimplementtougherenvironmentalandlaborregulations,1-22,HowDoesGlobalizationAffectNationalSovereignty?,IstodaysinterdependentglobaleconomyshiftingeconomicpowerawayfromnationalgovernmentstowardsupranationalorganizationsliketheWTO,theEU,andtheUN?Criticsarguethatunelectedbureaucratshavethepowertoimposepoliciesonthedemocraticallyelectedgovernmentsofnation-statesSupportersclaimthatthepoweroftheseorganizationsislimitedtowhatnation-statesagreetograntthepoweroftheorganizationsliesintheirabilitytogetcountriestoagreetofollowcertainactions,1-23,HowIsGlobalizationAffectingTheWorldsPoor?,Isthegapbetweenrichnationsandpoornationsisgettingwider?CriticsbelievethatifglobalizationwasbeneficialthereshouldnotbeadivergencebetweenrichandpoornationsSupportersclaimthatthebestwayforthepoornationstoimprovetheirsituationistoreducebarrierstotradeandinvestmentimplementeconomicpoliciesbasedonfreemarketeconomiesreceivedebtforgivenessfordebtsincurredundertotalitarianregimes,1-24,HowDoesTheGlobalMarketplaceAffectManagers?,Managinganinternationalbusinessdiffersfrommanagingadomesticbusinessbecausecountriesaredifferenttherangeofproblemsconfrontedinaninternationalbusinessiswiderandtheproblemsmorecomplexthanthoseinadomesticbusinessfirmshavetofindwaystoworkwithinthelimitsimposedbygovernmentinterventionintheinternationaltradeandinvestmentsysteminternationaltransactionsinvolveconvertingmoneyintodifferentcurrencies,1-25,ReviewQuestion,Theshifttowardamoreintegratedandinterdependentworldeconomyisreferredtoasa)economicintegrationb)economicinterdependencyc)globalizationd)internationalization,1-26,ReviewQuestion,Themergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplaceisknownasa)globalmarketfacilitationb)cross-bordertradec)supranationalmarketintegrationd)theglobalizationofmarkets,1-27,ReviewQuestion,Firmsthatareinvolvedininternationalbusinesstendtobea)largeb)smallc)medium-sizedd)large,small,andmedium-sized,1-28,ReviewQuestion,Whichisnotafactorofproduction?a)tradeb)landc)capitald)energy,1-29,ReviewQuestion,Thesourcingofgoodandservicesfromaroundtheworldtotakeadvantageofnationaldifferencesinthecostandqualityoffactorsofproductioniscalleda)economiesofscaleb)theglobalizationofproductionc)globalintegrationd)globalsourcing,1-30,ReviewQuestion,Whichorganizationisresponsibleforpolicingtheworldtr