chp 23

      I.         The Transformation of the World Economy

a.     Reglobalization

a.     Massive increase in global trade since 1945

                                               i.     Since World War II, there has been unprecedented growth in world trade, rising from $57 billion in 1947 to $16 trillion in 2009.

b.     Foreign direct investment, capital, and personal credit

                                               i.     The flow of money around the world is a major part of this history.

                                             ii.     Money moves as investments in industrial projects in other countries, as capital that can be loaned to various large and small borrowers, and as credit for individuals (hence, the rise of credit cards around the world).

c.     Transnational corporations

                                               i.     The world economy is increasingly dominated by businesses that are located in multiple nation-states and sell their products in markets around the world.

                                             ii.     Fifty-one of the top 100 economic entities in the world are not nation-states but TNCs.

d.     New patterns of human migration

                                               i.     In addition to the movement of money, people are moving around the world in greater and greater numbers.

                                             ii.     Push factors include wars, conflict, and ethnic cleansing, and pull factors include the lure of higher wages or just the promise of employment, freedom, and/or security.

b.     Growth Instability and Inequality

a.     Unprecedented growth but what of stability?

                                               i.     While the volume of trade in the world has generated great wealth, the cycles of boom and bust have left many people around the world feeling vulnerable.

                                             ii.     decrease in demand for something in Europe can lead to large-scale unemployment in an African mine or a Southeast Asian factory, and a jump in the price of petroleum can decrease production around the world.

b.     Unprecedented growth but what of social justice?

                                               i.     While the volume of trade in the world has generated great wealth, it has not been shared equally.

                                             ii.     This is true internationally with the Global North enjoying most of the benefits at the expense of the Global South and domestically as certain regions or economic sectors in a nation-state might see rewards while others suffer.

c.     Antiglobalization movements

                                               i.     Faced with these questions, an alternative critique of globalization has developed that both challenges the assumptions of neo-liberalism and the status quo and urges more equitable distributions of the world’s wealth.

chp 22

I. End of Empire in World History

a.     20^th century witnessed the demise of many empires

                                                                          i.     Austrian and Ottoman empires collapsed

b.     WWII ended the German and Japanese empires

c.     African and Asian movements for independence shared nation self determination

d.     Powerful influence of United States in Latin America

e.     Disintegration of Soviet Union in 1991

                                                                          i.     Birth to new national states

II.  African and Asian Independence

a.     United States and Soviet Union (global superpowers) opposed to older European colonial empires

b.     Colonies had integrated into a global economic network

                                                                          i.     Local elites largely committed to maintaining those links

c.     Europe wanted profitable economic interests in Asian and Africa without the expense of trouble of a colonial government

d.     Leaders made political parties in all Asian and Africa

                                                                          i.     Gandhi in India

                                                                        ii.     Sukarno in Indonesia

                                                                       iii.     Ho Chi Minh in Vietnam

                                                                       iv.     Mandela in South Africa

III.                  Case of India

a.     British colonial rule promoted a growing sense of Indian identity

b.     INC

                                                                                   i.     Indian national congress-1885

                                                                                 ii.     Well educated Indians with English backgrounds

1.     Lawyers

2.     Teachers

3.     Businessmen

                                                                                iii.     Did not seek to overthrow British rule

                                                                                iv.     Hoped to gain greater inclusion within the political military of British India

                                                                                 v.     Had difficulties gaining a mass following