Monday, November 5, 2012

Globalization retreats?


Trends of a rise in protectionist measures by countries is considered a serious threat to an increasingly globalized world. While the world is getting connected and "flattened" by global supply chains and mobility, inward looking policies also have made their mark challenging the presumption that globalization is a given. Of course, Pankaj Ghemawat still believes that a large part of economic activity is still "national" or "local" rather than truly global. Parag Khanna,on the other hand believes that the world is moving towards more globalization.

I came across an interesting piece on globalization here. Titled "The Retreat of Globalization" Kevin M. Warsh and Scott Davis posit that the trend of globalization characterized by cross national investments and increased trade is on the decline.
"Trade is the glue that connects the global economy. Trade has grown much faster than economic growth for most of the last few decades, thanks largely to the globalization wave. Only twice since 1982 has global trade growth trailed economic growth. 
But trade has weakened over recent quarters. According to the International Monetary Fund, trade growth volume is projected to slump to 3.2% this year, down from 5.8% last year and 12.6% in 2010. The World Trade Organization recently cut its forecasts for global trade by more than a full percentage point for this year and next. Absent fundamental policy changes, these data mean that the IMF's global GDP forecasts for this year (3.3%) and next (3.6%) are challenging to meet. 
Yet even this cyclical weakness is not the gravest concern. What if the cyclical has become structural, and economic potential is falling? What if the world is getting more fragmented and the gains from globalization are being forgone and forgotten? What happens if policy makers remain preoccupied with short-term urgencies to the exclusion of long-term priorities?"
Protectionism is not the preserve of only a few countries. It is exercised by both the developed and developing worlds in times of economic crisis to protect domestic interests. Whether it actually protects domestic interests in the long run is an entirely debatable issue. Further, whose interests are actually protected is also open to scrutiny. Nevertheless, the increasing trend of "buy local" in France or aggressive "import licensing requirements" in Argentina is only symptomatic of a reaction of countries to address issues of economic crisis in a global world. As long as trade exists, there would be measures of protectionism. To what extent they spread and to what degree they violate trade agreements is the crucial factor.

1 comment:

Anonymous said...

Have you ever tried your hand playing computer games? If not, then you've entered into the computer game world with this article! There are tons of games and anyone can find something they like. In order to help you out, the following article will feature some information on the best games of each gaming genre.

Be sure to verify a game's rating prior to letting kids play. Some games contain violent or inappropriate content that is not intended for anyone under 18. Do not let your children play these games or watch while you play. If a game is violent, it can have negative affects on sleep and behavior of young kids.

Pricing is a very important factor to consider when shopping for games. Price is not a good indication of the value of a game. When selecting a new game title, read the information on the back to become more educated about the product. You have nothing to lose by checking out online reviews as well, before purchasing them. Don't buy it if you aren't confident you'll like it.

Trade games with people you understand. These games cost a lot and you probably want to spend money on other things sometimes. Chat with friends to find out if you can swap games with them, and everyone can play a new game for free.

Hang onto those old online games you used to play. Trade in your games for new ones or for cash to maximize your investment. You can use store credits from your old games to go towards the purchase of new ones.

When buying for children it is important to check ESRB ratings. Some games may look like they are aimed at children but have objectionable content that is not apparent from the box or other promotional materials. Check the rating and read some reviews to see what others say.

Never clean your system, no matter the age, with strong cleaners. Lightly blowing can help to remove dust, and this is often all it takes to get things up and running. You can destroy your ps3 if you use harsh chemicals on it.

To save money, consider purchasing used games. The cost of new online games are $60 or higher depending on the title. This price is bad enough as it is, but it can a real downer when the game is delivered and you find that you absolutely hate it. By purchasing a used game, you could save 25-50% on the game you want.

You should make sure you seek nourishment when playing your computer games. Video Games can get someone away from reality, even to the point where they are forgetting to take care of their basic needs. When you are playing computer games, remember to drink a lot of water because dehydration can make you ill.

All games have ratings thanks to the ESRB. Games are appropriate for ages 3 and older if they receive an EC or Early Childhood rating. If your children are six and older, a rating of E is appropriate. A rating of E+10 is for people older than 10 years old. If your game is rated T, it is suggested that you be 13 or older to play it. "M" (mature) rated games are for people who are at least 17 years old. AO indicates the game is just for adults and RP signifies "Rating Pending."

Figure out how to operate the safety and parental controls of any gaming system that comes into your home. You can likely make adjustments that keep kids from viewing mature content. Some allow each gaming profile to be customized separately, allowing adults to enjoy games not meant for younger audiences.

Almost everyone plays online gaming today. By following this article's advice, you can maximize your enjoyment from your online games. Be sure to have fun when playing.