Is the World Economy becoming more globalized, more internationalized, more westernized or more neo-liberal? Discuss
The discussion should draw on the views of radicals, skeptics and pragmatics regarding the factors promoting the existence of economic globalization as a new phenomenon, different from internationalization, westernization, liberalism or cultural convergence.
Key authors: HIRST & THOMPSON, SCHOLTE (BOTH IN THE READING PACKAGE.) OHMAE, DICKEN
Economic globalization has been accompanied by notable fluctuations in the nature of the global financial organization.
Indeed, the financial design that has been established by the Bretton Woods Agreement founded a system of fixed exchange rates across national currencies (Bordo and Eichengreen, 1993)
Though, after the collapse of this system in the 1970s, the global financial system has progressively become globalized and presented a rising tendency toward global integration of financial markets and dome groundbreaking financial instruments.
Therefore, nowadays businesses increasingly work in a world of globally integrated capital markets with developments in a particular part of the planet rapidly spreading their effects on a global level.
