1. Dr Maurice Mullard Lecture 9

2. Geography of Present Recession What sort of Recession V Shape W Shape L Shaped Comparison with Depression of 1929 Japan lost decade Russia 1989

3. What are the Implications for Globalisation Thesis that Globalisation after 1990 was defined by USA – liberalisation free trade free markets Washington Consensus End of History thesis Break of Soviet Union Response of China Beijing Consensus

4. Does Recession means Reversals from Globalisation Retreat into protectionism warnings of World Bank and IMF Models Washington Consensus and Beijing Consensus Beijing Model How is China dealing with Africa Replace IMF in loans to Uganda Still a forms of selling commodities oil basic metals

5. Emergence of China China now 4 th largest economy 4.4. trillion dollars forecast to surpass US Economy 2050 India and China 40 per cent of World population China workshop of the World low level technology cheap goods eventually move up production chain Worries for EU and USA

6. BRICS Brazil Russia India China and future of global economy More democratic in the sense that China and India have large populations Dominance of the West 800 million in world population of 6.2 billion Resources Populations as future large consumer markets China dominance of East Asia

7. The Retreat of the West Dominance of the West last two hundred years Dominance Resources technology Hegemony monopoly in ways of thinking culture Enlightenment Break up of Soviet Union US ascendancy neo cons American Century Global GDP EU same GDP size as USA 18 trillion dollars China 4.4 trillion

8. Global Challenges Food – politics global warming sun and less water in Africa melting snows for China and Inidia Environment retreat from Copenhagen conflicts rich and poor countries Africa Agriculture potential Oil producers Middle East Retreat of US Consumers

9. Global Challenges Global Imbalances US UK trade deficits China Germany Japan trade surplus Bernake thesis on the savings glut Obama speech in China US no loner consumer for global economy IMF criticism of China value for the yuan Worrying about public sector deficits