Sara Hsu
 What
is Globalization? A parable.
 It
has been said that arguing against
globalization is like arguing against the
laws of gravity. ― Kofi Annan
I
find that the world is changing much,
much faster than I can even bitch about it.
― Bill Maher
Thomas Friedman: “The simple definition of
globalization is the interweaving of markets,
technology, information systems, and
telecommunications networks in a way that is
shrinking the world from a size medium to a size
small. It began decades ago, but accelerated
dramatically over the past 10 years, as the price
of computing power fell and the world became
an ever-more densely interconnected place. “
 Mercantilism dominated Western European
economic policy in the 16th and 18th century and
was the belief that government control of foreign
trade is of paramount importance for ensuring
the prosperity and military security of the state.

 Adam
Smith, one of the first economists
and a classical economist, was a
proponent of globalization.
 Smith rejected mercantilism, arguing that
government involvement in trade is
unnecessary, and that free trade is
inherently beneficial.
 Smith’s writings profoundly influenced
the globalization process.
 Capital: Cash
or goods used to generate
income either by investing in a business;
components of infrastructure
 Industrialization: The development of
industry on an extensive scale.
 Exports: A commodity, article, or service
sold abroad.
 Imports: A commodity, article, or service
brought in from abroad for sale.
 Poverty: The state of being extremely poor.
 Inequality: Economic inequality (or "wealth
and income differences") comprises all
disparities in the distribution of economic
assets and income.
 Demographic Change: Measurable shift in
the characteristics of a geographicallydefined population.
 Development: The process of raising the
level of prosperity and material living in a
society through increasing the productivity
and efficiency of its economy.
China: the world's second largest economy by
nominal GDP and by purchasing power parity after
the United States. It is the world's fastest-growing
major economy, the largest exporter, and second
largest importer of goods in the world.
 Taiwan: a developed capitalist economy that ranks as
the 19th largest in the world by purchasing power
parity.
 India: the economy is the eleventh largest in the
world by nominal GDP and the third largest by
purchasing power parity (PPP). The country is one of
the G-20 major economies and a member of BRICS.
In 2011, the country's per capita income stood at
$3,694 IMF, 129th in the world, thus making a lowermiddle income economy.

Japan: The economy of Japan is the third largest
in the world after the United States and the
People's Republic of China and is the world's
second largest developed economy.
 Thailand: a newly industrialized economy. It is a
heavily export-dependent economy, with exports
accounting for more than two thirds of gross
domestic product (GDP).
 South Korea: a market economy which ranks 15th
in the world by nominal GDP and 12th by
purchasing power parity (PPP), identifying it as
one of the G-20 major economies. It is a highincome developed country, with a developed
market, and is a member of OECD.

 Malaysia: a
growing and relatively open
state-oriented and newly industrialised
market economy.
 Philippines: the 46th largest in the world,
according to 2010 World Bank statistics.
 Singapore: a highly developed capitalist
mixed economy; the state owns stakes in
firms that comprise perhaps 60% of the
GDP.
 Syllabus
 Questions?