Globalization and Covid-19 ECON241

USA ranking on DHL index?

37 (USA is a self-sufficient country)

DHL Global Connectedness Index

Measures globalization during the pandemic: flows of trade, capital, info, people

Convergence

Narrowing of the gap between rich and poor countries

Has convergence occurred?

Positive trends are present, but lowest income sector has not caught up. Globalization has not caught the poor up to the rich.

Hyper globalization

1980's came with a surge in trade/finance and a diversification of the supply chain. Slowed after 2008, damaged in 2020

Western offshoots

Capitalist, democratic countries of Australia, NZ, Canada, USA

What are the main global issues?

Covid, trade, poverty, climate change, war, terrorism, policy, automation of jobs, geopolitics

Negatives of Hyper-globalization?

Income inequality, financial instability, China=world's factory

KOF Index of Globalization

Index measuring 3 dimensions of globalization, SOCIAL,ECONOMIC and POLITICAL.

What is globalization?

Integration, trade, finance, internationalization of production, politics, and culture

Highest performers on KOF index?

Scandinavian countries

Davos World Economic Forum

Ski resort in Switzerland where world leaders meet to discuss global issues

According to the DHL index, what happened during 2020?

Travel reduced to its 1990 level, surge of information (zoom, telehealth, etc.)

Geopolitics

study of government and its policies as affected by physical geography