Economic globalization and global economic governance.pptVIP

* * * Problems and challenges II Resistance to the transfer of sovereignty to supranational organisms US Climate change, ICC, ODA, etc. Emerging countries ?irresponsible position? European Union as a supranationality model? Problems and challenges III A more legitimate leadership and effective What role for the G-20? Long run perspective The global economic governance agenda Global Trade Governance – WTO Reform of the international monetary system Global imbalances, reserve currency, adjustment Development and fight against poverty ODA, ODG and food security Energy security and climate change International Migrations More equality in the distribution of income and opportunities? * * * * * * * * * * * * * * * * * * * * * * * * * * * * Economic globalization and global economic governance Federico Steinberg Outline Economic Globalization Economic and Political effects of globalization The challenge of global economic governance What is economic globalization? “A dynamic process of global economic integration characterized by increasing freedom in the movement of labor, goods, services, technology, and capital” De la Dehesa, 2000 . Increase in international flows of: Goods Services Capital Information ?Migration? The expansion of trade Recent developments and projections in world trade and output volumes . Source: IMF World Economic Outlook. Trade and investment New global value chains:Example: Volvo S40 Immigration 3,5% of world population is migrant 220mn Causes: labor shortage and ageing in OECD, abundance in developing countries Impact: higher employment rate, higher mobility and low unemployment rate in OECD countries Elements of conflict in the EU: Direct competition for jobs and ▼ wages Fear over the sustainability of the Welfare State Globalization Explanations: - Ideas - interests - Institutions - technology Is reflected in: - Deep economic liberalization - Incorporation of millions of people to the world economy, especially in