1. Chapter 5: The Economic Globalization Puzzle: Ten Pieces “We have a tug-of-war, really, between a domestic economic and a global economy.” …Bill Gross, founder and investor PIMCO Investments

2. Imperialism: British Empire

3. Economic Globalization Neoliberalism State Capitalism

4. National Economies

5. Ten Pieces of the Economic Globalization Puzzle 1.Reduce Local and Self-Reliance 2.Economic Growth 3.Promoting Network 4.Rules 5.Free Trade 6.Privatization and Commodification 7.Corporate & State Concentration 8.Specialization 9.Squeeze Labor 10.Military Hegemony

6. #1 Reduction of Local Communities and Self-Reliance

7. Subsistence Agriculture: Mexico

8. #2 Economic Growth

9. #3 The Promoting Network 1.Consumerism and Advertising 2.The Media 3.Education

10. Consumerism & Advertising

11. The Media

12. #4 Making the Rules The World Bank International Monetary Fund (IMF) World Trade Organization (WTO)

13. Location of Bretton Woods Conference

14. Bretton Woods Conference

15. Bretton Woods System

16. World Bank Head- quarters, Washington D.C., US

17. Establishment of World Bank

18. World Bank Presidents

19. World Bank, Large Projects

20. International Monetary Fund

21. Washington Consensus 1. Fiscal discipline - strict criteria for limiting budget deficits 2. Public expenditure priorities - moving them away from subsidies towards previously neglected fields with high economic returns 3. Tax reform - broadening the tax base and cutting marginal tax rates 3. Financial liberalization - interest rates market-determined 4. Exchange rates - managed for rapid growth certain exports 5. Trade liberalization 6. Increasing foreign direct investment (FDI) - by reducing barriers 7. Privatization - state enterprises should be privatized 8. Deregulation - abolition of regulations 9. Secure intellectual property rights 10. Reduced role for the state.

22. Fiscal Austerity

23. WTO Membership

24. #5 Free Trade and World Trade Organization WTO

25. World Trade Organization WTO

26. Chiquita Corporation & the WTO

28. Alternatives to Free Trade

29. #6 Privatization & Commodi- fication

30. Privatization of Coal Industry, UK

31. Gazprom, in Russia

32. Telemex Privatization

33. Privatization of Water

34. Cochabamba Water Wars

35. #7 Concentration of Power: Multinational Corporations & State Enterprises

36. Corporate Evasion of Taxes

37. #8 Specialization

38. Information Technology Specialization

39. Specialization in a Potato Chip Factory

40. Farming in the Midwest

41. Specialization: Chicken Farming

42. Specialization: Cattle

43. Specialization: Supermarkets

44. #9 Squeeze Labor

50. Outsourcing: Maquilladores in Mexico

51. #10 Military Hegemony 1. Colonialism 2. Imperialism 3. Development 1945-1990 4. Hegemony 1990 - present

52. Colonialism

53. Imperialism

54. 3. Development 1945-1990

55. 4. Hegemony 1990-Present

56. First Iraq War

57. Iraq War