https://padlet.com/claire_lukyn237/b5mnhng82vgl News Journal en-us 2018-10-16 17:57:38 UTC 2018-10-16 18:20:17 UTC hello@padlet.com claire_lukyn237 https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293519450 Link: https://www.nytimes.com/2018/03/23/upshot/globalization-pain-and-promise-for-rich-nations.html
Commentary: This article proposes the backlash of Globalization and how there is a rising middle class in the global economy that has rich enough consumers, who contribute so much to the global world. Soon enough, they will be suffering as well. It addresses the concerns of “disruption” that globalization has caused for smaller and much poorer economies that need to depend on richer economies. The article mentions that things have “leveled” off, directly relating to Friedman’s concept of the world being flat. This article also directly talks about new tariffs laws, as a result of Capitalism essentially, in the global economy. This is exactly what sociologists are studying and what we are studying, how the global economy comes with many costs that we are actually bearing now. 

]]> 2018-10-16 18:01:38 UTC https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293519450 claire_lukyn237 https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293520315 Link:  https://www.bbc.com/news/business-45342607
Commentary:  This articles explains the importance of trade with LDC’s (least developed countries) such as, Africa. The barriers and tariffs are so low, which creates an accessibility to easily have the EU trade with Africa of about 58% of items, the rest including produce. Economists are concerned with how countries such as Nigeria, that are not even on the list of LDC’s because they have such commodities to supply to the EU. This can relate back to the topic of inequality between countries that we are studying through models such as the World Systems Theory and through the effects of FDI that cause short term growth essentially and long term contraction. In this case, one of the effects is also seen through Capital Intensive Industries, such as The UK and EU flourishing based off of trade with these poorer nations.  

]]> 2018-10-16 18:03:05 UTC https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293520315 claire_lukyn237 https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293521235 Link: https://www.bbc.com/news/business-44711257
Commentary: There is a worrying concern of trade restrictions on the US, UK, China, and India, which will cause even more extensive trade wars to facilitate another recession. Because of the President’s new order on taxes on imports, the WTO, which consists of economists, has declared that lower trade barriers lead to cheaper goods and more jobs, but as we have seen in class, is this really true? Sociologists would further say that there are problems with open trade, such as uneven growth, uneven economic development, over urbanization, economic extra version, and more. This relates back again to Foreign Direct Investment, which characterizes the firm owning productive assets in another country. If tariffs are so low that they can trade, consumer goods being built by these Multinational Companies will flourish and the goods will be cheaper for the US, apart from its founding effects. 

]]> 2018-10-16 18:04:19 UTC https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293521235 claire_lukyn237 https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293521966 Link: : https://www.bbc.com/news/business-44639257 
Commentary: Foreign Direct Investment In China has been limited and it is going to affect the US because of the current trade war between China and the US. This means that the US will not be able to invest as much as it has been in China because of the effects of FDI on the country. Our president says he will curb the limitations and also increase our limitations, such that China cannot steal the US’s intellectual property rights. In the Harrod Domar Model, it is said that Capitalism essentially leads to economic growth, which would include FDI. This is concerning for the many industries and companies that rely on FDI. Economists also believe that foreign firms impact the domestic firms with technology spillover, which has definitely been experienced in the US and in China. America is one of the largest countries to receive FDI because of its diversity in markets and assets. What will this mean if there are limitations? Investments will be discouraged in total in the US, most likely leading to a decrease in economic growth. 

]]> 2018-10-16 18:05:38 UTC https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293521966 claire_lukyn237 https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293522578 Link: : https://www.bbc.com/news/business-45702609 
Commentary: The US has new trade agreements with Canada, which will allow more access to Canada’s dairy market and more access to the car market. In its effects, it will be harder for car companies to access materials outside North America, but also because of the tariffs on imports. The US imports extremely more than it exports and our current President is trying to change this. How does this relate to our class? Globalization is aimed here to be “re-balanced” due to the effects of the WTO and World Bank. We have studied the effects of the Washington Consensus and SAPs on LDC’s and seen how it has destroyed some countries’ economies. Will restricting trade outside North America rebalance the global economy or destroy companies in certain industries, such as the car market that rely so heavily on low barriers to trade, such that the WTO proposes of its policies. 
 
 

]]> 2018-10-16 18:06:46 UTC https://padlet.com/claire_lukyn237/b5mnhng82vgl/wish/293522578