Between the 1930s and the later 1970s most of the countries in Latin America used the Import Substitution Industrialization (ISI) model to build industry and reduce dependency on imports from foreign countries. These countries rapidly urbanize with a fast growing working class. In respond to the economic crisis the head of state of these countries adopted and implemented new neoliberal policies. One think to keep in mind is that international financial crisis is usually more difficult to manage than domestic crisis due to jurisdictional ambiguities. Some basic level of cross-national coordination is required in crisis management and resolution. Intergovernmental institutions can play a supportive role, but their main mission has typically focused on preventing next crisis.
Hegemonic stability theory under realism suggest that “international economic collaborations in pursuit of an open economic order is most likely to occur when the global economic is dominated by a simple power” (Ravenhill 22). The theory is rooted on international relations especially in p...
... middle of paper ...
...ey, Douglas S., Magaly Sánchez, and Jere R. Behrman. Chronicle of a Myth Foretold: The Washington Consensus in Latin America. Thousand Oaks, CA: SAGE Publications, 2006. Print.
Newman, Edward, Ramesh Chandra Thakur, and John Tirman. Multilateralism under Challenge?: Power, International Order, and Structural Change. Tokyo: United Nations UP, 2006. Print.
Panizza, Francisco. Contemporary Latin America: Development and Democracy beyond the Washington Consensus. London: Zed, 2009. Print.
Ravenhill, John. Global Political Economy. Oxford: Oxford UP, 2005. Print.
Rodrik, Dani. The New Global Economy and Developing Countries: Making Openness Work. Washington, DC: Overseas Development Council, 1999. Print.
Stiglitz, J. (1998b) ‘Towards a New Paradigm for development: strategies, Policies, Processes’, Prebich Lecture, UNTAD, Geneva, Reprinted in Chang (ed). 2001.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- While, in the past, many fundamentally associated globalization with the homogenization of cultures, this theory has been relegated in favor of a concentrated focus on the fragmentation and differentiating effects of globalization. Indeed, this trend towards fragmentation can be seen in diverse arenas, from the spread of Nationalism, to the loss of languages across the world. This essay will examine two cases that exemplify globalization’s role in homogenization vs fragmentation: the rise of Nationalism, and the global dominance of the English language.... [tags: Culture, Globalization, Western culture]
929 words (2.7 pages)
- Revolutionaries (opponents) negatively associate globalization as a way in which corporations impose western beliefs and customs, supplanting traditional and cultural practices of global communities, hence creating homogenization. “How to Judge Globalism” reflects the views of the opposition as a “continuation of Western imperialism” (Sen, 2002). Presumably, globalization negatively affects social/cultural aspects of society as well as the environments and the economies of these regions. As corporations establish, they are, according to Wendell Berry, “[radically reducing] the number of people who… might be thought successful: the independent, the self-employed, the owners of small businesse... [tags: Western culture, Globalization, Culture]
1415 words (4 pages)
- Even though the globalization skeptics and the transformationalists both have viable interpretations of globalization, I believe that the hyperglobalist perspective is the most accurate. The evidence for hyperglobalization is found all over the world, but for the purposes of this paper, I will focus on the expansion of NAFTA, the 2004 Indian Elections, and the increasing global outsourcing of labor. I will then outline the implications of hyperglobalist globalization on world regions and the regional approach.... [tags: Globalization ]
1208 words (3.5 pages)
- Many musicological studies that have made available to us in recent years seem to suggest that music is inherently tied to the Western culture. A case in point is the account presented by several historians of country music suggesting that this particular genre of music has its social origins in the early 20th-century Southern United States, and that New Orleans is the center of many African American musical styles (Manuel 417). Although these accounts may be valid, it may be misleading to hold the perspective that music is inescapably tied to the Western culture and its assumptions.... [tags: Western culture, Culture, Globalization]
1500 words (4.3 pages)
- The problems of international design are bi-directional. Western design firms became increasingly involved in the design of overseas projects, but they were trapped on various local issues that caused by different customs, religions and the level of development. FAIA (Fellow of the American Institute of Architects) has published an official report which reviewing their research on American design firm’s works abroad; for instance, a see-sawing situation with local supplier and manufactory they have had, during the accomplishment of the glass enclosure of the Chongqing Library in Chongqing, China.... [tags: Globalization Essays]
1772 words (5.1 pages)
- Globalization is a set a mechanisms that are altering the world order, thus escalating worldwide social relations. There are hundreds, if not thousands of ways in which globalization can be defined since it is altering every aspect of life. Nevertheless, when examining the universal structure of the global order; the world is divided into two categories the core and periphery (Steif). Basically, the world is divided per national development. In the case of inter-group relations, core states could be considered the in-group because they are directly benefiting from globalization and global wealth, hence the world powers (Steif).... [tags: Globalization Essays]
2488 words (7.1 pages)
- Although from an outside perspective many cases of globalisation may simply seem to increase cultural homogeneity, one culture can alter different parts of a global culture and incorporate them into their own and create cultural heterogeneity. In simpler terms, homogenisation and heterogenisation are both features of modern globalisation. Evidence for the contended statements above will be provided through the evaluation of case studies regarding global companies such as Starbucks and Disneyland Parks adapting to the local cultures of the areas to which they have spread to within the Asia-Pacific region.... [tags: Western culture, Western world, Globalization]
1721 words (4.9 pages)
- Globalization is a term that is growing as a debate in our society today. With the expansion of technology, trade, and industrialization this concept has sparked a growing debate among politicians and countries of whether it is benefitting or hurting global economies. “Globalization is a process that results in the growing interconnectedness of the world” (Krain). This process has been occurring over hundreds of years, but has significantly started to impact economies and countries as advances are made in technology which allows for the communication of policies and ideas between countries.... [tags: Globalization, International trade, Economics]
1093 words (3.1 pages)
- Globalization, both as an ideology and process, has become the dominant political, economical and cultural force in the 21st century (Steger, 2002, 6). As a social and economic concept, globalization has its roots in neoliberalism which advocates: the primacy of economic growth, free trade to stimulate growth, a free market, individual choice, reduction of government regulation, and global social development based on a western model (Steger, 2002, 9). Although globalization is not a new concept, technological advancements in the last few decades have, for the first time in human history, allowed for real global production, transport and communication.... [tags: Neoliberal Philosophy]
1230 words (3.5 pages)
- Globalization refers to the process in which people, ideas and goods spread throughout the world. It also corresponds to the growth of global awareness which benefits our global society as a whole. As a result of the numerous religions and cultures that the modern world consists of, globalization is defined in a number of ways. Definitions vary in what they emphasize. As some focus on the historic frame of reference, others may be more specific and shift their attention towards the effects of globalization through a sole religion 's perspective.... [tags: Religion, Hinduism, Globalization, Buddhism]
1271 words (3.6 pages)