This article reminds me of the discussions we have on how countries or governments manipulate their economy in attempt to expand them. Cuba is strategizing by welcoming foreign investment. It also reminds me of the unit of FDI and our discussion of short- and long-term consequences of FDI.   

This article reminds of Keynesian economics. Brazil has taken an ‘activist state’ and contractionary role by controlling interest rates. Potential candidates for the presidency seem to mirror Keynesian economics to different extremes. One supports large amounts of public spending, while the other supports major government intervention.     

This article reminds me of Late Industrialization and Gerschenkron’s idea that states should protect local industries. While most economic ideas aren’t directed toward the US, protectionism of American cargo ships has hurt the industry. Other countries are taking notice and loosening rules to protect their fleets.  

When we discussed globalization as development, development was redefined as participation in the global market. The global economy became a unit of development. China’s central bank is actively restructuring their economic policy in an effort to secure their capital account and continue their participation in the global market.  

In recent years, India has slowly become part of the global economy contrasting our discussion about late industrialization and their incapability to have an embedded autonomy. The state has actively taken charge of stabilizing the economy by bailing out banks back in 1991 this same way. 

As we discussed financialization in class, there was a shift from production to finance instruments. Financialization causes income inequality to be prominent. Millennials are now like undeveloped countries where they have catching up to do. Getting rich or making money is becoming harder for them. 

This reminds me of our discussion about developmental states that often try to protect and build domestic businesses to eventually open up to the world market. Too much protectionism can hurt a country by costing the state more to source locally or diminish innovation.   

This article reminds me of our discussion about the Brenton Woods Conference where the WTO came about. As we discussed, the countries wanted to secure the world’s macroeconomic stability. Breaking rules of the agreement can have a ripple effect and ultimately destroy WTO.   

This article reminds me of the discussion we had on financialization. Over confidence from lying about bond pool values caused the housing market to crash as well as other markets. Now everyone is fearful and reworking policies to ensure that another catastrophic bust doesn’t happen.