Globalization and Trade

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Presentation transcript:

Globalization and Trade Theories of IR: Power, interdependence, ideas

Today News Monday: Globalization Theories of IR and trade Realism: Trade and national security Institutionalism: Trade and complex interdependence Constructivism: Trade and human rights 3/31/2008 Hans Peter Schmitz

Globalization 1.0: States/colonialism  realism 2.0: Multinational corporations/institutions  institutionalism 3.0: Individuals/ideas  constructivism Does Friedman give us an accurate picture of world history? 3/31/2008 Hans Peter Schmitz

What is behind ‘globalization’? Realism (power) Power (United States hegemony) drives technological change Liberal Institutionalism (institutions) Technological change drives cooperation; creates ‘complex interdependence’ Idealism/Identity (ideas) Ideas drive technological change and power (Keynesianism, ‘Washington consensus’, etc.) 3/31/2008 Hans Peter Schmitz

The realist story: power After 1945: U.S. hegemonic decline European economic growth Vietnam Demise of Bretton Woods and Oil crises (rise of OPEC) After 1991: U.S. back on top? Ronald Reagan: second Cold War U.S. economic growth and technological change 3/31/2008 Hans Peter Schmitz

The institutionalist story: trade After 1945: interdependence/institutions Information revolution---technology Expansion of global trade: need for institutional cooperation (GATT>>>WTO) After 1991: loss of control and institutional pathologies? Loss of state autonomy and culture? 3/31/2008 Hans Peter Schmitz

The constructivist story: ideas After 1945: Economic nationalism/Keynesianism Liberal economic policies Alternatives to liberalism: Import substitution and socialism After 1991: Washington consensus Export orientation/free trade Alternative to free trade: Sustainable development 3/31/2008 Hans Peter Schmitz

Is free trade a good thing? Realism: NO. Expanded trade creates dependencies and shrinks sovereignty. Sustained trade deficits adversely affect autarky and national security. US hegemony (mercantilism) instead of free trade. Liberal Institutionalism: YES. Free trade creates interdependence (peace among nations) and domestic wealth (democracy within nations). 3/31/2008 Hans Peter Schmitz

Is free trade a good thing? Constructivism/Idealism/Identity: NO. Trade primarily benefits rich nations and impoverishes everyone else. Trade needs to be balanced against other goals (sustainable development and social policies). Fair trade instead of (unfair) free trade. 3/31/2008 Hans Peter Schmitz

Summary Realism: trade is a function of national security. Institutionalism: trade is a major independent force transforming global affairs. Constructivism/Idealism: Focus on gap between rhetoric of free trade and practice of protecting domestic markets. Focus on how free trade can lead to environmental degradation and a loss of local culture/identity. 3/31/2008 Hans Peter Schmitz